Used Olympics tickets may turn out to be long term investmentsAugust 19th, 2008 - 7:01 pm ICT by ANI
Beijing, Aug. 19 (ANI): Used Olympic tickets have got a second lease of life, and may eventually turn out to be good long-term investments, thanks to some popular Chinese collectors websites.
Currently, a used ticket is going for about 50 Yuan (7.3 American dollars) on popular Chinese collectors” websites. Tickets for popular fixtures such as the China-U.S. basketball preliminary are going for some 300 Yuan (over 42 US dollars).
On Internet bulletin boards, offers to buy used tickets significantly outnumbered offers to sell. “A ticket to the opening ceremony might bring its owner thousands of yuan,” Xinhua quoted a Market News report, as saying on Tuesday.
It also quoted Xu Jian, the president of the China Collection magazine, as saying that said it would be virtually impossible to have a complete Olympics ticket collection.
He advised collectors to focus on tickets that are likely to grow in value, such as those to the opening ceremony. Cao Xuetao, owner of an online store at Taobao.com, said ticket owners were reluctant to sell at the moment because they hoped prices would continue to rise. He suggested collectors to be patient and said the tickets were not a good bet for short-term speculation but should be seen as a long-term investment. (ANI)