The reason the prices are so high isn't because Mel is greedy or lives in a bubble.
The reason is very simple.
During the run of the Producers, Mel and his investors watched as the tickets for his show were bought by shills for the ticket scalpers, who then sold the tickets for hundreds of dollars on ebay and through hotel concierges.
Every ticket in the first 20 rows on many nights disappeared into the hands of people who resold them for a small fortune.
Since the state of New York will do nothing to stop this the producers opf the Producers decided to sell the ticket THEMSELVES for the high price. Why shouldn't they get that money?
Why should some ex Russian mobster make himself rich off the backs of the investors (and don't think for a minute that there isn't collusion with box office staff at that price).
By charging the high price and eliminating the pimps, er, middlemen, some sanity was brought to the process.
Don't think for a minute that you are going to get front row tickets at 110 dollars to Young Frankenstein if they are sold for that. They'll just vanish and the same people who are ready and willing to pay 450 dollars will do so.
http://www.broadwayworld.com/board/readmessage.cfm?thread=972787#3631451
http://www.broadwayworld.com/board/readmessage.cfm?thread=963561#3533883
http://www.broadwayworld.com/board/readmessage.cfm?thread=955158#3440952
http://www.broadwayworld.com/board/readmessage.cfm?thread=954269#3427915
http://www.broadwayworld.com/board/readmessage.cfm?thread=955012#3441622
http://www.broadwayworld.com/board/readmessage.cfm?thread=954344#3428699