'Willing buyers and sellers': Government should not prescribe profit margins for ticket resellers

'Willing buyers and sellers': Government should not prescribe profit margins for ticket resellers

chan chun sing
Trade and Industry Minister Chan Chun Sing. (File photo: TODAY)

SINGAPORE: The Government should not dictate profit margins for the resale of tickets between willing buyers and sellers, said Trade and Industry Minister Chan Chun Sing in a written response on Monday (Feb 11) to a parliamentary question on ticket scalpers.

Member of Parliament Ong Teng Koon had asked whether the ministry would consider legislation to prevent professional scalpers from profiteering by reselling overpriced tickets of concerts and sports events to genuine consumers.

"Generally, there is no prohibition against the resale of goods and services, including concerts and sports events tickets, subject to the terms and conditions of the original seller," said Mr Chan. 

"The margin which resellers can command is freely determined between willing buyers and sellers. This means that the resale price can end up being higher or lower than the original price."

He added that consumers should instead protect themselves before making purchases, for example by checking the terms and conditions of tickets carefully before buying, and comparing the resale price with the original price. 

If consumers are unsure of the legitimacy of the tickets, Mr Chan said, they should approach the official event organisers for verification to avoid paying for a ticket which may be subsequently voided.

Consumers who believe that they have been subjected to "unfair trading practices", such as false and misleading claims, can contact the Consumers Association of Singapore (CASE) for help in seeking redress, said Mr Chan.

They can also contact the police if there is fraudulent activity involved.

The Competition and Consumer Commission is also empowered with investigation and enforcement powers to take action against errant suppliers who persist in unfair trading practices, Mr Chan said.

Source: CNA/aa(aj)

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