Online 2008 Olympics Tickets Bidding Start at US$6,600+

The most coveted event tickets for next year can now be seen being sold for over 1600% of the original ticket price reports indicate. An outrageous sum to many but with the popularity of the Beijing Olympics next year, there will be some people grabbing this just to be able to attend. This would be a true gold mine for those who applied for tickets but only have plans of reselling them for profits. But then again, they may find themselves getting to difficulties selling these tickets! Beijing sports authorities have done some security measures to prevent excessive profiteering using the Olympics tickets.

The highly coveted tickets were installed with a memory chip that indicates the original owners to prevent counterfeiting, profiteering and as an added security feature. More importantly, the Olympics tickets can only be re-sold ONCE. On top of that, if the original owner finds a buyer for the tickets, the original owner needs to inform and get approval from the the Beijing Olympic Committee. Once the approval is given, the information on the electronic chip of the tickets
will be re-written to reflect the information of the new owners. After that, re-selling will not be permitted anymore to prevent profiteering. As added security measure on the venues and tickets itself, attendees will be asked to provide verifiable identification and the Olympic tickets will be scanned to match identities.

To make things even harder for individual re-sellers, they will only be allowed to re-sell their tickets starting July of next year. with a deadline of August 2008. Interested parties are warned of online auctions selling these tickets because of a big possibility that they may be fraudulent.