Why you’re paying more than the listed price: Junk fees riddle the Final Four experience
Final Four seat covers sit on chairs before the NCAA National Championship at NRG Stadium Monday, April 4, 2016 in Houston.A nosebleed seat for the NCAA basketball championship game in Houston can run you about $240 on Ticketmaster — that is, until you go to check out.
Ticketmaster’s fee profits are shared with the seller. The fees Ticketmaster keeps are used to provide “software, equipment, services and support to manage their tickets and box office and provide the sales network used by clients to distribute tickets to fans,”Ticket face value prices are often determined by the ticket reseller, venues, sports teams or other event promoters and have dynamic pricing, according to Ticketmaster.
Fans line up for a basketball challenge during Final Four Fan Fest at George R. Brown Convention Center on Saturday, April 2, 2016, in Houston.Tickets for concerts, shows or large sporting events are a common culprit for harboring junk fees. Another factor that increases ticket costs is secondary ticketing sites. Hopeful attendees often venture beyond the main ticket source, where they find tickets resold on secondary sites at a higher price.
“Let's say you’re online and you’ve gone through the process, you’re happy with the item and the price, then you see there's a fee tacked on,” Mateer said. “Well they sort of have you because you've invested all this time and energy in getting to the point where you want to buy it.”He said the companies are using a commitment mechanism, relying on the extra cost of the junk fee not dissuading customers from buying tickets once they have already started the purchasing process.
Russo's New York Pizzeria welcomes Final Four fans to its downtown store on Wednesday, March 30, 2016, in Houston. Russo is expecting an uptick of business with the NCAA Final Four in town.President Joe Biden called junk fees harmful for Americans and the economy.
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