I Need a New Example

We have spoken with hundreds of people over the last few years about making money in the secondary ticket market. Inevitably the question comes up – “Is it Legal?” If you have read the material in our book – you know the answer is “Yes, but some states have restrictions.”

New York has forever been my example of the most restrictive state. They had a cap on what a ticket could sell for if the stadium was over 6,000 seats. This law applied only to residents of New York.

Well now it does not even apply to them. Over the last week the New York State Assembly repealed the law. There are now no caps on what ticket can legally be sold for. The bill went further than originally expected. It also prohibits any team or venue from cancelling ticket subscriptions.

The Yankees had attempted to revoke the licenses of some season ticket holder sin the past. This is what prompted the additional language in the bill.

This is a big win for ticket brokers. The opportunities have just become available and less big brother looking over us.

Below are a few of our favorite excerpts from the bill:

“Controlling the price of tickets on the secondary market has been cited as a method of consumer protection. However, the primary sale price of tickets has increased to a point that many tickets are already unaffordable for consumers. Therefore, controlling the prices on the secondary market is not an effective consumer protection.

This legislation would prohibit the venues from revoking season tickets or the contractually agreed upon right of first refusal to purchase future tickets when such revocation is based solely on the basis of resale.

Eliminates the prohibition on selling tickets to places of entertainment at more than the maximum premium price; extends from June 1, 2007 to June 1, 2009, the expiration of the provisions of the arts and cultural affairs law relating to tickets to places of entertainment.”

For more information about the bill, please go to the following site.

http://assembly.state.ny.us/leg/?bn=A07526

To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.