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Ticket resale is a form of arbitrage that arises when the number demanded at the sale price exceeds the number supplied (that is, when event organizers charge less than the equilibrium prices for the tickets). During the 19th century, the term scalper was applied to railroad ticket brokers who sold tickets for lower rates. [1]
The high resale prices for certain tickets have attracted criticism for being prohibitive to average concert-goers, such as the 2009 Super Bowl tickets that averaged $2,500 when resold on the platform. [70] The company promised to refund the price of any ticket that fails to reach a buyer by FedEx, and sometimes sends staff to replace bad ...
The company was founded in 1997. It operates in more than 200 countries and territories around the world and has partnerships with over 400 airlines and 300,000 hotels. Users can search for travel deals and discounts on the website, and in the past also offered the "Name Your Own Price" feature to bid on hotel rooms and flights.
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eBay office in Toronto, Canada. eBay Inc. (/ ˈ iː b eɪ / EE-bay, often stylized as ebay or Ebay) is an American multinational e-commerce company based in San Jose, California, that allows users to buy or view items via retail sales through online marketplaces and websites in 190 markets worldwide.