20 April 2006

Justin Lo

Justin Lo is a pop singer in Hong Kong. He had his first concert after his first album was released within a year, and about 20,000 tickets were sold out in 10 minutes. With this achievement, his company was thinking to sign his name up for Guinness Book of Records.

But wait a minute! More than 20,000 tickets were sold out in 10 minutes? How could that be possible? This means 1,000 tickets were sold in each minute... about 15 tickets in each second? Even if there is such a strong demand, the ticket seller won't have the efficiency to sell 15 tickets per second.

So why?

That's because of the existence of scalper, who engages in the reselling of tickets at a price higher than the established value. A ticket originally worths of HK$200 will be resold at HK$350. This is illegal in Hong Kong, but there are always people who are willing to take the risk in order to make small quick profits.
No venture, no gain.

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