When a popular event is first announced, tickets usually go on sale through official channels such as the venue’s website or a ticketing platform like Ticketmaster. These are sold at face value, which is the price set by the event organizer.
The face value of a ticket is typically determined by various factors, including the cost of putting on the event, the popularity of the performers or teams, and the size of the venue. However, once the initial batch is sold out, many people who missed out on the purchase may turn to resale sites such as StubHub, Vivid Seats, or SeatGeek.
These sites allow individuals to sell their tickets to others at a price of their choosing, often above the original face value. As a result, the resale price can be significantly higher than its original one.
Price difference: there are advantages and risks
As shown by ExpressVPNs, the price of tickets can vary significantly between their original sale and resale. This difference is mainly due to supply and demand and the fact that reselling has become a lucrative industry in recent years.
Precisely, one of the reasons for the high resale prices is the laws of supply and demand. When a popular event is sold out, the demand increases, but the supply remains the same.
This can lead to a situation where sellers can charge more for their tickets because people are willing to pay a premium to attend the event.
And because of this, users have very different experiences when it comes to this issue. While some are willing to pay a premium for sold-out events or to secure a specific seat, others find the high resale prices prohibitive.
Another factor that affects the resale price is the level of risk involved in the purchase. When buying a ticket from the original seller, there is little risk involved because the buyer can be sure that the pass is legitimate and will be accepted at the event.
However, when buying it from a resale site, there is a greater risk of fraud or counterfeit tickets. To compensate for this, sellers often charge higher prices.
Moreover, some events or performers have a loyal fan base willing to pay a premium for tickets.
For example, tickets for a popular band’s farewell tour or a championship game in a major sport may be in high demand, and fans may be willing to pay more than the original price to secure their attendance.
In addition to the factors mentioned above, the timing of the purchase can also affect the resale price. In the weeks leading up to an event, sellers may lower their prices in an attempt to guarantee their sales before the event.
On the other hand, buyers who wait until the last minute to purchase tickets may end up paying a higher price because of the increased demand and decreased supply of available ones.
Price difference: other things you need to know
Despite the high resale prices, there are some advantages to buying tickets from a resale site. For example, buyers may be able to find them for sold-out events that they would otherwise have missed out on.
Furthermore, resale sites often offer a greater selection of seats and ticket types, allowing buyers to choose the best seat for their budget.
However, there are also some risks associated with buying them from resale sites. For example, as mentioned earlier, there is a risk of fraud or counterfeit tickets. Additionally, some sellers may not deliver the tickets as promised or may cancel the sale after receiving payment.
To mitigate these risks, it’s important to use a reputable resale site and read reviews from other buyers before purchasing.
Truth be told, the difference between the original price and the resale price can be significant, with resale ones regularly higher due to supply and demand, risk, fan loyalty, and timing.
While there are advantages to buying tickets from a resale site, buyers should also be aware of the risks involved and take steps to mitigate them.
As always, it’s important to do your research and buy from reputable sellers to ensure a positive ticket-buying experience.
