and they also need to hope there are enough stupid people on the internet to buy at a markup something sold in the hundred of millions of pieces,one indistinguishable from the other.
more proof that an honest business can serve society better than scammers.
As someone who used to attend more than a 100 concerts/year, I sincerely hate them.
> This is only possible because the the tickets are being sold originally for under market value
No, this is only possible because tickets can be made artificially scarce.
And because there is a portion of the population who owns more money than is able to spend.
Surely you agree there's a supply and demand curve for concert tickets, where if the price is sufficiently low, all tickets will be bought, and if the price is sufficiently high, few or no tickets will be bought?
Market value is what people are willing to spend for something. If people are willing to spend more on the tickets (the scalper's price), there's an incentive for the scalper to create bots to scoop up the tickets and resell them. That means the artist performing at the concert is leaving money on the table and letting the scalper profit off their underpricing.
The artist should increase ticket prices and cut out the middle man. Of course there are other systems the artist could use to improve the perceived fairness to fans, like linking ID to tickets, or using a lottery system, or selling tickets to anyone willing to wait in line for days. But all of these have their own pros and cons.
Which are all non-money methods of charging more. Whether it's with time or luck.