A MarketWatch reader recently found themselves in an unfortunate financial position after purchasing two $126 concert tickets as a surprise for their sister. When the sibling became unable to attend the event, the reader was left with a single ticket they hoped to resell.
Instead of recouping their costs, the reader is facing a likely loss. They had delayed listing the ticket on secondary markets like StubHub, attempting to mark up the price to ensure a profit. However, industry data suggests this strategy is counterproductive for most concerts.
Keith Pagello, founder of ticket-tracking platform TicketData, advises that ticket holders should list their seats as quickly as possible. “Sell it as soon as you can,” Pagello said. “More often than not, ticket prices for concerts go down as the event approaches.”
The reality of the resale market is that the majority of concert ticket prices decrease after the initial purchase. Pagello noted that many sellers operate under the misconception that a ticket purchased for a certain amount can be resold at the same price. “Most of the time you will sell it for less than you pay for it,” he explained.
To maximize returns, experts recommend monitoring other listings on platforms like StubHub and matching or slightly undercutting those prices. It is also crucial to account for the service fees charged by platforms like StubHub and Ticketmaster, which are percentage-based and increase with the selling price.
Pagello highlighted that concert tickets are generally harder to resell for a profit compared to sporting events, which may fluctuate based on team performance or recent upsets. Unless a sudden news event dramatically increases an artist’s desirability, prices rarely spike unexpectedly.
For immediate action, the article suggests bypassing online platforms in favor of personal networks. Sharing the opportunity on social media may allow the seller to find a buyer willing to pay the full original price, avoiding platform fees entirely.
Looking ahead, financial advice for future gift purchases includes verifying a recipient’s availability before buying expensive tickets, or securing a backup attendee among friends who might join if the original plan falls through.
This advice is solid, but what if the sister can’t go two weeks before the show? Still lose money either way.
Has anyone tried selling through local community boards? That seems way less stressful than StubHub.
Why do people think scalping is still a thing? Concert tickets only go down in value after buying.
I always forget about those hidden service fees until it’s too late. Lesson learned the hard way!