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Sports Biz
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The greatest example is happening in New York, where prices on the secondary market to go to opening day at the New Yankee Stadium are plummeting in unprecented fashion.
The average asking price for tickets to the game has plummeted 65 percent in the last three weeks, according to Michael Hershfield, CEO of LiveStub.com. on January 6th, the average asking price on the company's site was $1,101. Today, it's $534.
"This drop is almost off the charts," Hershfield told us. "I've seen nothing like this. This is like National Enquirer-type shocking numbers."
Herschfield said that the appetite for the high end ticket appears to be waning as banks and hedge funds layoff and disintegrate.
Said Hershfield: "Everyone is talking about the price of Super Bowl tickets falling. But that's nothing compared to this. This is the real story."
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