e-Bay bans sale of Obama Inauguration Day tickets

NEW YORK: Online auction site eBay has agreed to ban ticket sales for US President-elect Barack Obama's upcoming Inauguration Day tickets inauguration ceremony on its websites.

The decision came in response to harsh criticism about skyrocketing prices for the re-sale of the sale of the swearing-in ceremony tickets.

The Joint Congressional Committee on Inaugural Ceremonies had earlier insisted that the auction house should not auction the tickets. In a brief statement the committee the news.

Only 240,000 tickets are issued free of cost to the public to attend the January 20 event, through members of Congress and the inauguration committee.

It is reported that the overwhelming demand to attend the swearing-in ceremony has caused online scalping at sites like eBay's ticket venture StubHub and Craigslist for prices reaching as much as $40,000.