What determines ticket prices on the secondary market?
• Quality of the seating pertaining to a particular ticket • Costs incurred to acquire tickets (face price, labor, expenses, athletic booster fees, etc.) • Costs incurred to market tickets (labor, advertising, etc.) • Supply vs. Demand • Historical prices of tickets to the same event • Current asking prices of other brokers and re-sellers • Popularity of the event • Broadcast status of the event (i.e. local blackouts for sporting events) • Availability and quality of tickets left at the box office (ticket agent) • Location of the event (city, venue, indoor/outdoor, etc.) As you can see, many factors weigh in when a broker sets their prices; however, as with any other business, ‘supply vs. demand’ has an incredible bearing. It’s not an uncommon occurrence to find tickets sold at or below the face price for events which have a low demand, regardless of supply. It doesn’t matter many tickets are available if nobody wants them.
