Anyone ever get into concert / sports game ticket brokering? Getting tickets to hot games then reselling them without ever the intention of going. Just wondering how it worked out for you. I've got someone that has access to Stubhub data and the returns on facevalue are huge. 56% +
The New York Yankees are cutting StubHub. The team is dropping the ticket exchange, which allows fans to buy and sell tickets at market rates, as their official re-seller in favor of a deal with Ticketmaster. As The Post first reported, the Yankees are miffed fans can buy tickets for a couple of bucks right up until game time because StubHub has refused to put a price floor for transactions on its site. Sources said that Ticketmaster will likely agree to set price floors on some ticket sales and stop resales before game time. The Yanks, along with the Los Angeles Angels, are opting out of a new five-year deal between Major League Baseball and StubHub that allows it to continue as the official secondary ticket market for the league. The Yanks and MLB declined to comment. cont on link... http://www.nypost.com/p/news/business/yanks_nix_tix_resell_rIQuUKz82n9ms1faICUymJ
I actually took another look, and ran the numbers. The return on some of those seats was more in the 30/31% range. All prices below include sales tax, then I rounded up on costs and went low on profit. A $45 ticket sells for $70 on Stubhub Stubhub takes 15% of the transaction. $70 turns into $59.00 Profit is $59 - $45.00 = $14 per seat. $1000 invested = 22 seats x $14 = $308 profit or 30.8% return. Any thoughts? The game is 3 months from now.
Seems like a huge amount of work (selling 22 seats) just to make $300. What if you don't sell all the seats? Just my $.02- Stubhub is a fucking ripoff. Used them a few times in the 2000's but will never use them again.
There's no work in it, you just buy them and them place them back on stubhub. Your seat will likely not sell until the month of the game. You don't send the ticket to anyone Stubhub automatically delivers electrocic PDF's of the tickets.