I'm screwed out of $125

After the Georgia Dome tornado the SEC fiddled around about how to minimize their losses. They knew they'd have to refund some tickets or there would be an uproar. They decided to screw those who purchased tickets in the secondary market (including me):

Fans who bought tickets to the Southeastern Conference Men’s Basketball Tournament through the league, the Georgia Dome or one of the 12 member schools are eligible for a refund, the SEC announced today.

Games from the last three sessions of the tournament – held March 14-16 in Atlanta – were moved to Georgia Tech’s Alexander Memorial Coliseum after a tornado struck the Georgia Dome.

Fans holding tickets to sessions 4, 5 and 6 are eligible for if they bought those tickets through the league’s ticket office, the Georgia Dome or an SEC school.

...

The original ticket holder is the only person who will receive a refund on tickets. Fans who purchased tickets through the secondary market – from a ticket broker, for example – are not eligible for refunds.

More charitably, maybe it is much easier to refund money for tickets purchased with a credit card. I could send my unused tickets in but they'd need to cut a check to refund the money.

Anyway, next time I think about going to a major sporting event I'll determine my willingness to pay as the option price under supply uncertainty and factor in the probability of a natural hazard event.

Comments

[John Whitehead]

I overreacted. It turns out we bought our tickets from LSU. Shame on me.

But, that doesn't change the fact that alot of secondary market purchasers are screwed.