If you can't beat 'em, join 'em.
VANOC became a player in the ticket-scalping business Monday when it launched a ticket auction and fan-to-fan marketplace for the 2010 Winter Olympics and Paralympics.
By early afternoon, the auction listed four floor-level opening ceremony tickets for the price of five ($5,500) and a pair of behind-the-bench tickets to the U.S. versus Canada men's hockey game for $2,000.
That's a seven-fold markup on the $280 original price.
Visa is the only method of payment accepted on the resale site where VANOC is taking a 20 per cent cut of each transaction - split evenly between buyer and seller. The seller, however, may not see payment until the end of March.
"We've committed to do it after the Paralympics," said ticketing vice-president Caley Denton. "We'll do it as soon as we can once the events are over."
The announcement marked a dramatic about-face for VANOC, which vowed to shut down unauthorized ticket brokers and void their tickets.
First it failed to lobby the provincial government to outlaw scalping and then it settled out of court with Winnipeg travel agency Roadtrips.
Roadtrips was allowed to keep its inventory but any new tickets bought must be from VANOC sponsor Jet Set Sports.
"We would prefer that the prices posted are low," deputy CEO Dave Cobb said about the resale site.
"But we were prepared to sacrifice our control over that in order to have a safe place for people to buy legitimate tickets with a primary objective of the seats being full for the Games."
Through Oct. 31, VANOC reported $193.9 million in ticket sales. The number of tickets sold remains secret.
