TickPick is an innovative online ticket marketplace to buy, bid and sell tickets to sports, concerts and other live events. Similar to Stubhub,[1] TickPick is a free marketplace, however numerous techniques are used by Tickpick, such as utilizing algorithms and historical data to rank tickets and eliminate overpriced tickets. By listing and ranking tickets based on a combination of price and seat quality, users are able to select their most desired tickets for the least amount of money.[2]
In addition Tickpick offers its users a unique bidding platform, which introduces a new way for consumers to purchase tickets to live events. Using proprietary technology consumers enter their price range and their desired seat locations and variable bid prices are created. Tickpick motto is "Why bargain with one seller, when you can negotiate with hundreds?"[3]
Tickpick filed a U.S. provisional patent application for a "An Electronic Ticket Market".[4] The present disclosure is directed to a computer system for a secondary electronic ticket market. More particularly, the present disclosure is directed to an online system that permits sellers and buyers to view data corresponding to the bid or the ask value of the tickets based on venue, price and demand and to allow an individual to mark the tickets to market value.
The method comprises obtaining data identifying a buyer of tickets for a venue and obtaining data from the ticket buyer identifying at least one section within the venue. The method obtains data identifying (i) a maximum amount the ticket buyer would spend for a first ticket associated with a most favorable seat within the section; and optionally (ii) a maximum amount the ticket buyer would spend for a second ticket associated with the least favorable seat. The method then provides an algorithm that receives the data of (i) the maximum amount the ticket buyer would spend for the first ticket associated with the most favorable seat within the section and optionally (ii) the maximum amount the ticket buyer would spend for the second ticket associated with the least favorable seat with the same section. The algorithm generates a plurality hypothetical acceptable tickets representative of the ticket buyer. The method then generates a matrix comprising at least one of the ticket buyer’s bids and extrapolated hypothetical bids to give other ticket buyers and tickets sellers’ feedback to adjust bids and asks or provides the sellers the ability to execute a transaction.