by John Galt
January 9, 2017 17:25 ET
I love capitalism.
It brings out the worst and the best in people.
The worst? People overcharging for a product that the market will not pay for.
The best? People using the market to get the product at a much more reasonable price.
For example, tonight’s NCAA College Football National Championship Game between Alabama and Clemson is fetching some absurd prices for last minute ticket buyers. With only hours to go before kickoff, I decided to see what the highest asking prices were for the game and where the seats were located via StubHub.com:
Nice try, I have sat in those seats and they are not worth almost $30,000 each however God Bless the seller if he gets his price. Markets of all sorts have a way, just like stock markets, of correcting the price before kick-off. The next example was another example of reaching for the sky to test the market’s limits, but with much better seats because it is the Club Level (better dining options there, take my word for it):
However it would have to be some damned good pizza for me to spend $12,000 for a ticket. I wish the sellers good luck and more so as an ACC fan, Go Clemson!