Laws needed to stop scalpers

Been wanting to blog about this for a long time. The situation is getting worse now. We need new legislation to stop scalpers.
For the uninitiated, a scrapler is someone who purchase large quantity of an item with the sole intention of reselling them at a much higher price. The most recent case is the BTS concert where scraplers are reselling the tickets at up to $4000 when the original price is just $348.
Something needs to be done to stop this. Firstly, these scraplers are buying up all the available tickets to create a shortage of supply. Then they mark up the prices based on the demand.
Scalpers are getting more common nowadays. And they don’t just buy and resell tickets. Even smartphones and LEGO are not spared. And with the help of online marketplace, it is getting easier for scalpers to resell the item.
Scalpers need to be stopped. New legislation need to be in place to stop people from profitting from reselling an item excessively. I’m fine if the resold price is 20% to 30% more expensive than the usual price. But things are getting out of hand nowadays.
Everyone need to work together to stop scalpers. Talk to your MP. Ask them to push for new bill in Paraliment to stop scalping. Online market place admins need to ban people from profitting excessively from reselling an item. Concert organisers should implement features to prevent tickets from being resold. For example, the Ed Sheeran concert tickets will have the buyer’s name printed on it to prevent resale.
The rest of us need to stop buying things from scalpers. Let them hang on to the item forever without finding a buyer. If everyone corporates and stop buying from scalpers, then the scraping will stop eventually.

Leave a Reply

Your email address will not be published. Required fields are marked *