“Event reselling is a blue ocean business opportunity in a world of endless competition. As transactions for most businesses move more and more to online marketplaces, the digitization of ticket sales has also moved online.”
What used to be something purchased over the phone directly from the venue or in person at the gate, has now turned into an online market.
This online marketplace of tickets offers significantly improved optimization which now allows individual ticket sellers to capitalize on mispriced or underpriced tickets to turn a profit. Event reselling is moving closer and closer to a real time value changing commodity.
What used to be a set ticket price, now with the internet, can move effortlessly up, down, and in any direction to quickly adjust to current market demands and influences.
Simply put, tickets now behave similarly to stocks with the exception of having an expiration date, perhaps even more similar to options trading. The difference between stocks and tickets, is that tickets have significantly easier to determine value and demand, which makes them a great way to turn a profit for anyone who knows how to select the best events to resell.
How to pick the events to resell?
Event reselling requires only a basic knowledge of supply and demand along with access to the right data that can really impact the event demand. Simple resources such as checking the amount of social media followers an artist has on instagram and more detailed information such as the amount of monthly streams within a city are both powerful tools in gauging demand for an event.
Some quick points to consider:
- Instagram, Twitter, Youtube follows and number of views/engagements
- The amount of streams by city on Spotify and Youtube.
- The amount of google searches for an artist within a city.
- The size of venues he performed on in the past.
- Previous sell-outs (quick google or twitter search).
- Day of week performing.
- Cost of the tickets.
There are of course other things to consider but we won’t get into too much detail here! It is of course available to Premium Ticketflipping Members within the course!
Oh and one more thing, 99% of the time you’ll be buying tickets from Ticketmaster, Livenation, or AXS. These are the top 3 original ticket marketplaces in the US and around the world.
What are the best places to resell your events?
For the best event reselling results you need to reliably sell your tickets quickly and without worry. The best places to sell your tickets are secondary marketplaces such as Stubhub, TickPick, VividSeats, and SeatGeek. You can also sometimes sell your tickets directly through Ticketmaster or whatever marketplace you originally purchased your tickets from.
The only thing better than selling on these marketplaces is selling on all of them at once! Using a truly one of a kind platform called Lysted, you can list your tickets for sale on all marketplaces at once and as soon as one of your tickets sell, it will be automatically removed everywhere.
Using Lysted, which is referred to as a Point of Sale or POS, maximizes your exposure for the quickest sale, while also avoiding the risk of selling the same ticket twice! Selling the same ticket twice can happen if you manually list the same ticket to more than one marketplaces, and can be a total nightmare to deal with! Luckily that’s not something you need to worry about.
Setting the right price when reselling events.
The price you can set for your tickets will be strongly influenced by what seats you have and how much the demand the event currently has. This is why doing proper research is so important before buying tickets. With the right tickets, you’ll be golden.
For seats, you’ll want to price based on what other event resellers are pricing for similar seats in your section and row.
For general admission tickets, you’ll want to price generally around the average of the tickets on the marketplace, not too cheap and not too expensive.
You’ll also need to keep in mind:
- How many tickets are available.
- How much there is left until the event.
- How much profit you are looking to make on this event.
To sell quicker, you can drop your price under other sellers, but if the demand is strong you can keep your prices higher to get a higher return closer to the event date.
Generally, demand for any event is highest at the presale for 1-2 weeks and then dips down, and will again increase within 2-3 weeks of the event date. Also, general admission tickets will also perform stronger closer to the event date, even up until the day of the show.
Deliver your tickets to get paid!
Now that you’ve done the hard part, all there is to do is sit back and wait for your tickets to sell. You can of course edit your pricing to stay competitive on the market. Remember to transfer your tickets through the buyer. 95% of the time you will be listing and selling your tickets as MOBILE TRANSFER. This means when your tickets sell, you’ll get the buyers email and send them over to them through Ticketmaster directly. This method is safe and highly reliable.
What to expect with Event Reselling?
Event Reselling is a growing business model and people are making anywhere from a couple thousand dollars a month to tens of thousands in profit and even millions in profit annually. This lucrative resale business model is easier and more reliable than many other resale business models since it is 100% all online.
