A recent trend in New York City sees diners paying up to a thousand dollars for a reservation at high-end restaurants like Carbone, highlighting a significant secondary market for such bookings. This practice has sparked discussions about the potential for restaurants to auction reservations directly, capturing the market-clearing price which appears to be much higher than the current charges. The phenomenon is part of a broader trend where luxury experiences are increasingly exclusive, prompting debates on the ethics and implications of such practices. Additional insights include behind-the-scenes details about what restaurant hostesses say about customers and an exclusive pop-up of Rao's at the Masters event.
Restaurant reservations are the hot new cash cow for resellers. @AppointmentTrdr Founder Jonas Frey tells @SullyCNBC how it works. https://t.co/0DbiwKZqjm
🍝 Food experience of a lifetime! Rao's – the legendary NYC Italian spot where you literally need to BUY A TABLE for a reservation – popped up at the Masters thanks to @WheelsUp. Talk about exclusive! Stay tuned for our Rebel's Edge 🏴☠️ interview series with @jonnajarian and… https://t.co/EVChErqDZz
Market-clearing price for top restaurant reservations are insane. Rationally, you’d think they’d want to auction the reservations themselves. Optics on that are ugly, though. https://t.co/5SP9J7S6rP
My big takeaway from this is that the market clearing price for top restaurants in NY is much, much higher than what they charge https://t.co/xkua2END6Q
kind of a victimless crime. and if some dingaling is willing to shell out a grand for a pasta dinner reservation, they'll probably ball out at the restaurant due to the sunk cost fallacy. maybe it's even good that These People are contained within a certain type of restaurant https://t.co/IQcNmxg3Wu
Why aren't hot restaurants auctioning reservations? Capturing that deadweight loss would be pretty tasty for them https://t.co/lZMuWEQIbZ
This is a great, big-picture feature about how more and more of the Good Things in Life are getting moved behind a velvet rope. Also, it includes some really fun BTS details about what fancy restaurant hostesses are saying about you. https://t.co/3kQ0SORQcD https://t.co/a0e10Ewr5Q
Unbelievably grim article about NYC restaurant reservation scalpers - people are paying a thousand bucks to buy a Carbone reservation on the secondary market. https://t.co/o4R9R0bqPO https://t.co/7j5Sk6E05Z