Ticket resellers and bots targeted on a state level
NEW law reforms will prevent bot technology snapping up tickets and selling them at rip-off rates in NSW.
NSW Minister for Better Regulation Matt Kean said consumers were being gouged by scalpers at sporting and entertainment events as tickets were swept up by bots and sold at "hugely inflated prices”.
An example of this was the recent Midnight Oil show in Coffs, when tickets were sold for more than double the original ticket price on ticket reselling site Viagogo.
But Frontier Touring local representative John Logan said it would be hard to police international ticket resellers that could still get away with ticket price inflation.
Mr Logan said demand was fuelling ticket reselling companies and suggested ifpeople stopped buying from resellers there wouldbe no major rip-offs.
The new reforms will prohibit anyone from reselling tickets to a NSW entertainment or sporting event for more than the original sale price, plus the booking fees incurred in the original purchase.
Transaction fees will also be capped at a maximum of 10 per cent of the initial price, meaning tickets should not be resold for more than 10 per cent abovethe original.
"Consumers are also rightly frustrated at losing up to $60 million every year through unused balances on expired gift cards and I simply won't stand for it,” Mr Kean said.
"But that's exactly why we've developed a suite of reforms to tackle both these issues and help ensure consumers are given a fair go.”
Coffs Harbour MP Andrew Fraser said the reforms would save consumers significant amounts of money.
"It's not right that NSW consumers can't access tickets to their favourite sporting team or live artist simply because scalpers are demanding unfair prices in the resale market - often many times higher than the original price,” Mr Fraser said.
"Nor is it acceptable that consumers are losing millions each year because of the time limit on gift cards. These reforms will allow consumers to redeem a gift card or enjoy a live event without being ripped off in the process.”
Bills amending the Fair Trading Act 1987 are before the State Parliament.