Analyzing market demand and studying similar ticket sales helps you set a price that maximizes profit and allows for quick ticket sales. Prices to resell concert tickets may be higher for events with high demand and low ticket inventory. Use the following tips to set the appropriate price for your tickets:
1. Timing Before the Event
Find out how many tickets the event organizers are still selling. Look at the early bird resell trends to see if there might be a rush that could raise ticket prices. Start listing your tickets when demand is highest. If you have a flash sale campaign window, you must adjust your price accordingly.
If the artist is popular, or if you have unique features as part of your ticket, you can raise the prices because of the increased demand. You could also count the available tickets on reselling platforms to determine how much stock is left. If the event overlaps with other events, you may have to adjust your prices.
2. Original Ticket Cost
Compare the value of your ticket to the original price you paid for it. Include any taxes you paid and any initial service fees. You may have also bought as a group, and the original ticket value may have been discounted. Find out if there are any transactional fees like platform service charges, international transaction fees, and currency exchange rates. If you resell concert tickets, the original ticket cost can tell you whether to sell them as a standard ticket or a premium ticket, and it can help give you an idea of the price range.
3. Event Popularity
Check the chart performance and social media rankings to determine the event’s fan base. If the event is a highly anticipated show o or the ticket waitlist is long, you can price your ticket higher. If the artist has many views on their social media platforms or is an award winning performer, the tickets may also be priced higher, due to demand. Pricing can also be affected by the number of tour locations and the duration between events. If their sales are up since the event’s announcement, set the price of your ticketing higher.
4. Venue Location and Seating
Tickets near the stage can have a higher set price, and tickets for sections with obstructed views can be priced lower. The price could be increased if the seat has amenities or special privileges, like early entrances or included food or beverage. Tickets prices might be raised if they provides access to exclusive VIP allowances like meet-and-greets. Tickets that give people access to the premium box suites or sound-clearance zones are the same.
Resell Concert Tickets
When reselling tickets, find the right time to list them to make the most profit. Look at similar tickets and how much they have sold for. If there is high ticket competition, you can set your prices high. If the peak demand period has passed, you might need to lower the prices to find a buyer. You can resell concert tickets through a ticket reselling platform today.
