Zigabid Launches New Offer/Counter Offer Ticket Transaction
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Zigabid Launches Public Beta of New Offer/Counter Offer Ticket Transaction Site
New market-driven approach offers alternative for primary and secondary market ticket sales
Consumers determine the price of all tickets; percentage given back to the artists, entertainers, sports teams
LOS ANGELES - September 9, 2008 - The ticketing industry received a breath of free-market fresh air today with the public beta launch of Zigabid.com, a new ticketing website where individual buyers and sellers, as well as ticket distributors and brokers can utilize the industry's first ticket-sales website that provides a platform for consumers to negotiate the value of a ticket - differentiating Zigabid from other ticketing sites and transaction processes.
The process on the site creates a platform for eliminating fixed prices and introduces consumer control. Any buyer may place an offer on a set of tickets; this offer may then be counter-offered by the seller. This personal, back and forth negotiation process has created a new sales technique that is both profitable and fair with regard to market values. The site also remits a portion of all ticket sales to artists and entertainers, including tickets issued by other vendors.
Future Sales of Tickets from the Primary Ticket Market
While Zigabid plans to have a ticket inventory derived mainly from the primary ticket market, the site is presently launching with an initial secondary market ticket inventory, as a means to provide consumers with a wide variety of tickets. Zigabid is currently in talks with distributors on the primary market. During public beta testing, consumers can fully transact on the site and are encouraged to provide feedback as Zigabid refines its service.
Transaction through Interaction
Zigabid is the only site where users can interact directly with each other throughout the transaction process. The value of a ticket is determined not by a fixed price, but rather by the buyer and seller through Zigabid's "Offer / Counter-Offer" method. Finally, a ticketing site that lets me negotiate with potential clients," said Matt Yodis with Ticket Quick IT, one of Zigabid's first registered sellers. "Not only do I receive offers on my listings, but I am able to send back counter-offers to buyers until a sale price is agreed on. Zigabid certainly is an evolutionary site."
Tickets Are A Commodity
Zigabid's premise is simple: tickets are a commodity and should be traded as such. The website mirrors a Wall Street-style transaction system powered by real-time interaction between buyers and sellers. On the site, users can see real-time information showing fluctuations in the current trading prices of tickets and use these charts as a reference guide to make offers and negotiate the price of each ticket. Tickets are shipped overnight to buyers. Consumers can see how easy it is to buy and sell tickets on Zigabid.com by viewing brief video tutorials at http://www.zigabid.com/help/zigabid-tutorials.
What's Wrong with the Current, Restricted Market for Ticket Sales
Currently, the market is restricted by prices that are fixed by traditional ticket distributors such as TicketMaster and resellers including StubHub, Razorgator, TicketsNow and TicketLiquidator, while new-model ticket resellers do not provide data or viewable real-time fluctuations on current ticket prices.
"Zigabid is the first service to address the inefficiencies of tickets sold in both the primary and secondary market," notes Dan Rubendall, founder of Zigabid.com. "Our system allows ticket distributors and resellers to strive for fair-market value for their tickets and gives buyers the opportunity to make offers based only on what they believe is the right price at any given time."
Giving Back to Artists, Teams & Producers
Zigabid is the first and only ticket provider that gives back to the artists, teams, and producers whose events fuel the ticket industry. Under Zigabid's Revolution Distribution program, when a consumer purchases tickets on Zigabid that have been issued by another vendor, a percentage of the connection fee goes directly back to the entertainer. If for any reason they are unable to accept the distribution, Zigabid will ensure it goes to their favorite charity.
The Zigabid Community
Opportunities to post event photos, reviews, and comments foster a community of users with common interests. Zigabid users can earn rewards points for their interaction with the system; Z-Rewards provide credits for transactions that can be applied as discounts towards future ticket purchases.
About Zigabid
After years of research, Zigabid has developed an innovative way to use technology to solve the existing disconnect between buyers and sellers. Zigabid is based in Los Angeles, CA and was founded by entrepreneurs Dan Rubendall and Brian Kupetz. After successfully owning a ticket brokerage for the past 17 years, Rubendall's industry experience has greatly contributed to his vision and determination to revolutionize the ticket industry. For more information, visit www.zigabid.com.
