The people willing to pay those prices inflate them. I could buy a $1k car and l... | Hacker News

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		hypeatei 25 days ago \| parent \| context \| favorite \| on: Reselling tickets for profit to be outlawed in UK ... The people willing to pay those prices inflate them. I could buy a $1k car and list it for a million dollars tomorrow. If no one buys it, then it's not worth $1M. If someone does, then it's worth that amount.

WheatMillington 25 days ago [–]

You're ignoring the effect of scalpers, who dramatically increase the demand and thereby drive the secondary price up. It's self-fulfilling.

hypeatei 25 days ago | [–]

How do scalpers create more demand? The demand is from people wanting to see the concert, no?

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