AXS review: Transfer of proceeds from sale of tickets

We purchased Taylor Swift tickets for London and Edinburgh 2024 because we were not yet sure which month would work around school holidays. We ended up selling our Edinburgh tickets (purchased and sold) via TicketMaster where the sales transaction and return of the proceeds of the sales (at face value) went smoothly and we received the funds resulting from the sale within a few days.

The same process for AXS is fundamentally flawed. After various discussions with customer support, I have been informed that we will receive the proceeds from the sale of our tickets 10 working days after the event, in August 2024.

AXS will hold the funds I originally paid for the tickets, plus the funds the new buyer has paid until 10 days after the event, approximately 1 year. Very fortunate for AXS given recent rises in interest rates.

I am told that this is "to ensure that funds for all ticket sales including resales are settled properly and are then directed to the correct person. This is especially important in the event of a rescheduled or cancelled event." This implies that liability remains with me after completion of the sale of tickets.

However referring to their T&Cs as quoted by their customer support team "On receipt by Hyperwallet or us of payment from the buyer, we shall transfer the ticket Right(s) to the buyer and the buyer shall have no further liability to you, as seller."

The AXS policy is fundamentally unfair, biased towards the vendor and not representative of similar vendors in the market. Based on this experience I am not surprised that TicketMaster are the most well known vendor in this market.

AXS you have a long way to go if you want to get market share here and your policies need to change.