Zigabid.com Negotiable Marketplace
Cecilia Biemann — September 20, 2008 — Business
References: zigabid & springwise
Traditionally, buying tickets for concerts, sports events and theater has meant paying the set price for a given seat and show.
However, newly launched website Zigabid.com is dedicated to making ticket prices negotiable by allowing ticket buyers and sellers to interact directly with each other to determine a ticket's final selling price.
The website's process features Wall Street-style transactions, with a system of offers and counter-offers. Users are given real-time data showing fluctuations in a ticket's trading price, which can then be used to make an offer. Buyers and sellers go through a back-and-forth haggling process before finally arriving at a selling price.
It is free for both individual sellers and ticket distributors to list tickets on the site, however, for every transaction, sellers pay Zigabid a 15 percent connection fee and buyers pay 10 percent.
When the deal is done, tickets are then shipped to buyers overnight, backed by Zigabid's guarantee.
Zigabid also gives a portion of each transaction back to the entertainers--or to the charity of their choice.
However, newly launched website Zigabid.com is dedicated to making ticket prices negotiable by allowing ticket buyers and sellers to interact directly with each other to determine a ticket's final selling price.
The website's process features Wall Street-style transactions, with a system of offers and counter-offers. Users are given real-time data showing fluctuations in a ticket's trading price, which can then be used to make an offer. Buyers and sellers go through a back-and-forth haggling process before finally arriving at a selling price.
It is free for both individual sellers and ticket distributors to list tickets on the site, however, for every transaction, sellers pay Zigabid a 15 percent connection fee and buyers pay 10 percent.
When the deal is done, tickets are then shipped to buyers overnight, backed by Zigabid's guarantee.
Zigabid also gives a portion of each transaction back to the entertainers--or to the charity of their choice.
Trend Themes
1. Negotiable Ticket Prices - The trend of making concert, sports, and theater ticket prices negotiable by allowing buyers and sellers to interact directly presents an opportunity for disruptive innovation in the ticketing industry.
2. Real-time Pricing Data - The trend of providing users with real-time data on ticket trading prices enables the development of innovative pricing strategies and dynamic pricing models in the ticketing industry.
3. Charitable Transactions - The trend of giving a portion of each ticket transaction back to entertainers or charities opens up opportunities for disruption in the concert and entertainment industry, with potential for new business models centered around philanthropy.
Industry Implications
1. Ticketing - The ticketing industry can embrace the trend of negotiable ticket prices and create platforms or services that facilitate direct interaction between sellers and buyers, disrupting traditional ticket sales models.
2. Technology - The technology industry can explore the trend of providing real-time pricing data for various products and services, not limited to ticket sales, to enable dynamic pricing strategies and empower consumers with transparency in pricing.
3. Entertainment - The entertainment industry can leverage the trend of charitable transactions in ticket sales to create innovative business models that benefit both entertainers and charitable causes, enhancing audience engagement and social impact.
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