Chinese fans are paying 25 times the official rate for tickets to see Liu Xiang, China's 110m hurdles world champion, defend his Olympic title next year, state media reported yesterday.
An Internet-driven black market is seeing prices spiral upwards for seats at popular events during the Beijing games, the Chongqing Business News said.
Touts are cashing in on events where China has medal hopes and competitors like Liu, China's sporting golden boy. He soared to fame by winning the Olympic title in Athens four years ago and boosted his appeal last month with a gold medal at the world championships.
"Every since he made a name for himself, people have been trying to cash in," the newspaper said in a report carried on the popular Internet news portal Sohu.com.
Official ticket prices for the 110m hurdles final next Aug. 21 range from 200 yuan to 800 yuan (US$26 to US$104).
"Those tickets are already on the web priced at 40,000 yuan," the report said.
Seats for other popular events like table tennis, men's soccer and the opening ceremony are selling at up to 10 times the original asking price, the report said.
Beijing Olympic organizers put over two million Olympic tickets on sale domestically in April in a first phase of sales that closed on June 30.
Though not all were sold, applications for key events were massively oversubscribed and many fans were disappointed.
Just 4.7 percent of those who applied for the opening ceremonies landed tickets.
Due to high demand, a random computerized selection process was used to allocate tickets.
Last month organizers began sending out letters to successful applicants and ticket offers began appearing on Web sites catering to those who failed to get seats in the official application process.
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