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Would you pay $800 for a 3-hour concert?!! Thousands of people are happy to do this, apparently! 

Taylor Swift tickets have been ‘snapped up’!

This phrasal verb does not have a formal equivalent. It conveys speed and enthusiasm:

The verb ‘snap’ also suggests something sudden and fast e.g.

• “I snapped” = I suddenly lost control of my emotions
• “I snapped at him” = I said something quickly and angrily
• “I made a snap decision” = I decided quickly, without thought or preparation
• "Snap out of it!" = Stop (daydreaming, being in a bad mood etc)