Summary
From the past years till now canucks playoff tickets has been a top seller. It did not take long at all for the first round playoff tickets to be sold out. "This is the hottest ticket since the gold medal game for the Olympics," says Kingsley Bailey with Vancouver Ticket Service. The reason for that is because this year the Vancouver canucks setted many records, such as breaking there old season record of 105 points and winning the president trophy. Which is the best within the hockey league. The people that purchased the tickets are reselling it at a cost of $250 a ticket which they are profiting about $100-$150. The reason for that is because people do not care about the final price of the ticket. They also predicted that stanley cup final games would range about $1,500-$2,000 a game.
Connection
I think the ticket buyers are really smart because they know that people would all go crazy over the playoff tickets if they can't manage to purchase one of them. Therefore it would lead to a higher demand for many people which are serious for purchasing those playoff tickets. As you can see the company is already profiting alot off playoff tickets. Which is a good success for the buisness already so they do not really care about the re-sellers. Because if the Canucks manage to last long in the playoffs they would make millions of dollars just by selling tickets.
Reflection
This didn't surprise me at all because as you can see people are crazy over watching canucks game. Fans around vancouver fly around everywhere in the states just to see a game of the vancouver canucks. So people are actually willing to pay thousands of dollars just for a regular season game. I honestly think that if re-sellers are planning to sell it at a even higher price such as $300 dollars a ticket to desperate people they would still purchase it. If i had the money to invest in the opening round of the playoff tickets i'll probaly buy a mass amount of tickets. Because i'm sure in the end most of the tickets i purchased would be sold for profit.
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I am in favor of Billy's insight on the relationship between Canucks tickets and amount of demand, and I also agreed with his point of how re-selling tickets do not affect the Canucks at all. Currently, tickets are being sold before every game and then a small percentage are re-selling. A decrease in ticket costs would bring relief to a lot of people, as well aiding the economy, as people have obtained more disposable income to spend.
ReplyDeleteI also agree with your blog Billy, you have done a very good job on your blog. I like how you have used the Vancouver Canucks playoff ticket as an example of supply and demand. I am a big Canucks fan and so I can relate to the ticket buyers. You have not mentioned the aggregate demand, I think it the ticket sales will affect the investments and consumer purchases because people are buying a lot of tickets and then reselling at a higher pieces which is making the demand more and the prices higher for a ticket.
ReplyDeletei agree with your blog. it's true real canucks fans will be wililng to spending hundreds of dollar on canucks regular season tickets. Playoff tickets are probably going to be on high demand in the future. Prices for them will be going up everyday. So it will be a smart decision to invest in buying a whole bunch of cancuks playoff tickets and selling it out later for a higher price.
ReplyDeleteI agree with your idea of the high demand of tickets and the limited supply of it would just push the price up. This high demand for consumer purchases will also affect the prices. Canucks fan are willing to pay for the tickets at any unreasonable prices.
ReplyDeleteI totally agree with you that there is a really high aggregate demand for Canuck playoff tickets right now. Canuck’s spectacular season has impressed many fans as this year is one of the best seasons for Vancouver Canucks. Therefore we can say that consumer purchase is the factor that increases the aggregate demand. The psychological factors of consumer purchases are the factors causing the high demand for playoff tickets right now. The sensational play by the Vancouver Canucks has caught a lot of attention from many people. Many people have changed their tastes and preferences about the Vancouver Canucks and they are attracted by the exciting games of the Vancouver Canucks and they are now encouraged to buy playoff tickets to watch their dominance in the playoffs. Not only does this benefit BC’s economy but consumers do not mind paying high prices for playoff tickets right now. Although there is a high demand for playoff tickets right now, there is a limit of playoff tickets that could be sold to the consumers since there is a limit of seating inside the arena. I have a new point that I would like to bring up to further increase the depth of your connection. I want to encourage the hockey arena to expand itself to make it larger so a larger number of tickets can be sold in the future. This can continue the success of the high sales volume and it is a good means of encouraging consumer spending. This will also speed up our recovery from the financial crisis in 2008. With a higher amount of spending from consumers, the economy can continue to operate efficiently in British Columbia. Good Job on your connection. You made significant connections between the chapter and this article.
ReplyDeleteBy: Joshua Thang