Ticket resale is one of the most secure and predictable markets to work with. Tracking demand is made possible by the huge amount of data available. Venue size, date, city, artist popularity are all data points that should be carefully examined for any particular show.
But, like any other market, there is the possibility that you can make mistakes. Sometimes there can be random problems that arise; Terrible Weather, Show rescheduling, show double ups (when an artist decides to perform two times in the same place), etc...
These are all things that can cause ticket demand to drop, and prices to fall. When you notice prices falling it is important to not panic. If you begin to drop your price of stubhub, it will cause a chain reaction where all sellers begin a race to the bottom. You want to avoid this at all costs.
Avoid Losses by:
- Diversifying your tickets (buy different shows in different places)
- Buy tickets we recommend in our Premium Members Ticketflipping Market Prediction.
- Buy shows with incredibly high demand.
- Use our Ticket Evaluation Tool to make sure your tickets are free of problems.
As you can see Stubhub allows you to see exactly how many tickets are left and at what prices and quantities. Most ticket brokers know to hold the prices steady, if you see extremely low prices it is usually just a fan who is not able to attend the show and his ticket will sell fast and the price will bounce back up. You can also check what the high and low tickets have been selling for so you have a good idea of how much people are willing to pay for this particular show.
You should always be sure to monitor your ticket listings on Stubhub, Ticketmaster, Vividseats regularly. If you check on your event every couple days and pay attention to the market, you will naturally get a feel for how your tickets are doing and will be able to easily avoid major losses.
If you put this information into practice you will be able to better manage shows and ensure that the tickets you buy make you money. Here at Ticket Flipping we use the best practices possible to ensure shows will sell out, and bring them straight to our members with our Ticketflipping Market Predictions.
Steps to take when there are only 3 days left and the show still has not sold out:
- Do not try to always have the cheapest.
- Look at the amount of tickets left for resale on stubhub.
- Many people buy tickets last minute.
- Do not panic.
- Hold the price stable.
Worst Case Scenario: Lets say its the last day and your tickets still haven't sold out, if the event passes the tickets are completely useless, the best thing to do is to lower your price and continuously check the ticket prices to make sure you are the first ticket anyone will buy. This is situation you want to avoid, but for most shows you can sell your tickets for slightly under face value.