Pricing of black market tickets

I am just wondering if there has been any research about the pricing of say concert tickets on the black market. How fast do they reach their real market value, and do they always increase as the event nears? Are there any examples of the opposite?

Depends on your definition of this. You could argue that in an “open outcry” market where both buyers and sellers are aware of bid and asked prices, every transaction is at market value.

By no means. I have often seen counterexamples, when the start of the event is at hand (or past) and it’s clear to buyers and sellers that demand is below supply.

Not quite the same, but the St. Louis Cardinals sell unsold/returned tickets at a heavy discount on the day of the game.

Of course, TKTShas been doing it for Broadway shows for 35 years.