The law of supply and demand has left Singapore's Coldplay fans fuming and created a thriving resale market where tickets were going at a 3,000 percent premium.
The British soft-rock band is due to perform at the Singapore National Stadium on Apr. 1, 2017, as part of the "A Head Full of Dreams" tour, but demand for tickets left many buyers unable to access the ticketing system even as tickets appeared on resale sites at many times their original value.
Coldplay fan Nikhita Sejpal waited more than 4 hours in a virtual queue on Monday in an unsuccessful bid to buy tickets. Sejpal told CNBC by email that she was later offered resale tickets on Facebook and local marketplace Carousell that cost between S$400 ($280) and S$1,000.
On ticket marketplace Viagogo, VIP tickets to the concert were reselling for between S$1,350 and S$9,912 as of Nov. 23, about 353 percent to 3,226 percent higher than the S$298 concert organizer Live Nation Lushington charged for the VIP package. Other ticket categories ranged from between S$700 to a little more than S$1,000 each, versus the official price range of S$78 and S$268.