TICKETS for the only Hong Kong concert by US band R.E.M. were selling for five times their cover price outside the Queen Elizabeth Stadium in Wan Chai last night. One foreign exchange dealer from a bank in Tokyo flew down on the off-chance and bought a $480 ticket at the door for $2,500. 'I thought I'd take a risk and come,' said the dealer, who did not want to be named. 'It's still cheaper in yen terms than if they were playing in Japan. Some people take drugs, some have cars. I've been an R.E.M. fan for over 10 years.' He bought his ticket from another fan called Andy. 'Me and my mate Wayne . . . bought two $480 ones from a guy for $500 each and were about to go in when this bloke from Tokyo comes over waving his notes. For that money we had to sell it,' Andy said. But that left the pair with only one ticket. 'Have you got a ticket to sell?' Andy asked as he went through the crowd and when the answer came back 'no', the question was 'Would you like to buy one?' Eventually Wayne off-loaded his for $1,200. Tickets for the show sold out in one day.