Those familiar with the headaches of re-selling unwanted tickets have a new option in Resident Advisor‘s newly launched resale service, which creates a first-come, first-served marketplace for sold-out events.
A first in the industry, RA‘s system currently only applies to tickets purchased through their service, but exchanges the questionably safe, commonly unfair secondhand ticket market for one in which ticket holders can offer theirs up at face value to a queue of hopefuls that opens once an event reaches sold-out status.
RA sums it up best with the below rundown on functionality:
How it works:
– A customer decides they no longer need one or more of the tickets they purchased, and puts tickets into the resale pool.
– If the event sells out, the ticket resale queue will become active, selling on a first in, first out, basis.
– Users can change their mind at any time, deciding to keep a ticket after it’s been added to the resale queue. (As long as it hasn’t already been resold.)
– Once resold, the original ticket is cancelled and that customer is notified and refunded.
– The new customer receives a new ticket as normal.
– The resold ticket will be available at the final tier price. For example, if a $10 ticket is being re-listed, but the last available ticket was $20, then the purchase price will be $20. The original ticket holder benefits from a full face value refund on the tickets, while the promoter benefits from the additional revenue.
“Tickets were being added to the resale queue and sold in minutes — three to four tickets in 20 minutes,” RA cofounder Paul Clement told Billboard of witnessing the system’s first transactions. “Seeing it actually working as opposed to a harebrained scheme is sort of a nice feeling.”
Clement said that while the resale system won’t mean big bucks for RA directly, he’s excited for the company to potentially impact the ticketing market in a positive way.
Read the complete story from Billboard here, and try it out for yourself on RA here.