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How to Make Money Selling Tickets

By Edited Dec 5, 2016 0 0

Learn to Resell Tickets

    

Seeing the Opportunity

The opportunity exists to make money on the side selling tickets to events.  Those events include sporting, concerts, races or anything that needs a ticket for admission.  It can be done by anyone with a connection to the internet and a small amount of effort.  Like any other business opportunity the process of making money by selling tickets is always changing and one strategy won't always work forever.  This process is done entirely from the comfort of your own home and doesn't mean standing in front of a packed stadium or concert hall waiving tickets over your head to the highest bidder.

Make Money When You Buy Not Sell

       Making money selling tickets for a profit boils down to one simple concept; you make money when you buy not when you sell.  Like investing in stocks or real estate, tickets are only profitable when you know the market value and buy significantly under value.  Buying tickets below market value in today's environment means getting in on face value tickets before they are all bought up.  A few ways to do this exist, but the most effective is to receive pre sale offers from the concert promoters, concert venues, and fan clubs.   Pre sales are offers to purchase face value tickets prior to the release to the general public.  These sales can be found by subscribing to newsletters from promoters and venues and other outlets that specialize in the sale of tickets.

Ticketmaster

       Ticketmaster is by far the most common way to purchase tickets, as a huge majority of venues use their services to sell their tickets.  Knowing how to use Ticketmaster is essential to this business, and not knowing how will mean not making any money.  When you find out the pre sale and regular sale dates of tickets being sold to an event you would like to buy tickets to it is important to be there at the exact time of the sale.  Many events sell out within 5 minutes of being on ticket master so the early bird gets the worm.

Understanding Value

       Knowing the value of your tickets prior to buying them is difficult but not impossible.  Many times you can check sites like Stubhub or Ebay and find listings for tickets prior to the initial sale.  Use these listings to gauge the secondary market value prior to purchasing your own tickets.  Stubhub specifically has a function that allows individual selling tickets to see actual sales data for the event to price tickets accordingly.  Gauging demand based on previously concert sales is also helpful.  For a recent example of demand being a good indicator of sales, Taylor Swift's new album "Red" has topped the charts.  Her first wave of concert dates released after the ascent of the album have sold out in less than 5 minutes in all the major cities of the U.S.  Several prime seats for those concerts will be sold for four or five times face value.

Marketing Your Tickets

     Putting your tickets on the secondary market is important to the process.  Many avenues exist to do this, but the two most popular currently are Stubhub and Ebay.  These sites facilitate the exchange of tickets by buyer and seller with relative ease.  Both of these sites do charge a commission so factoring that into your decision on where to sell should be considered.  Pricing is a complicated issue with resale of tickets.  Trying to be the cheapest ticket on the market is a good idea but every attempt should be made to research value to not leave money on the table.  The last thing someone selling tickets wants to see is making a sale to find out later the tickets could have been sold for twice as much.

 

 

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