Ticket resale, known in North American English as ticket scalping and in British English as ticket touting when done for profit, is the act of reselling tickets for admission to events. Tickets are bought from licensed sellers and then sold for a price determined by the individual or company in possession of the tickets. Tickets sold through secondary sources may be sold for less or more than their face value depending on demand, which tends to vary as the event date approaches. When the supply of tickets for a given event available through authorized ticket sellers is depleted, the event is considered "sold out," generally increasing the market value for any tickets on offer through secondary sellers. Ticket resale is common in both sporting and musical events.