Currency, Vancouver 2010 Olympics, and The Huge Markup You Might Pay on Tickets -- Kai Petainen
On the Vancouver2010 website, it states this:
"Ticket prices posted on vancouver2010.com are in Canadian dollars and are available to Canadian residents. Outside of Canada, tickets are sold by National Olympic Committees (NOC) or the Official Ticket Agents representing that territory. Tickets sold outside of Canada may be sold for up to 20 per cent more with the funds going to the NOC and the Official Ticket Agent representing that country."
If you live in the United States (even if you are a Canadian living in the United States), you need to buy tickets from CoSport.
On the Cosport website, a ticket for the Opening Ceremonies costs $1294 USD.
On the Vancouver 2010 website, a ticket costs $1118 Canadian.
According to the Cosport website, they take the currency as of Sep. 25th.
So, a $1118 Canadian ticket is $1080 USD on Sep. 25th (according to the rules),
multiply that by the 20% markup and it is $1296.
Cosport has it for $1294.... so that is within the boundaries.
But markets have changed, and tickets are much more expensive for those in the United States, so the 20% rule might be misleading for some, as ticket prices can now have a markup much higher than 20%. Let's do some basic math with currencies.
Now, a $1118 canadian ticket is worth about $888 USD,
multiply that by the 20% markup that the Vancouver2010 website allows and it is $1065 USD.
Cosport has it for $1294... a markup of 46%... (1294-888)/888=46%.
I would be paying about $406 more for one ticket, and if I get two tickets, I'm paying $912 more than Canadians.
So due to the exchange rate rule, people are paying a lot more than before and the markup is much more than 20%.
Hopefully they'll adjust the rates when they charge people for the tickets.
-Kai Petainen