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Ticketmaster Resale: Why Are the Prices Higher?

If you’ve purchased tickets for an event through Ticketmaster, you may have noticed that some ticket prices on their resale platform are significantly higher than the face value. This can come as a surprise to many customers, especially when they think they are getting a good deal from a legitimate website. In this blog post, we will explore why Ticketmaster resale prices are higher and what you can do about it.

What is Ticketmaster Resale?

Ticketmaster resale (formerly known as TicketExchange) is a platform where fans can buy and sell tickets to events. This platform allows fans to sell tickets they can’t use anymore or buy tickets they missed out on during the initial sale. In theory, Ticketmaster resale should provide fans an easy way to buy secondary market tickets from a trusted source.

Why are Ticketmaster Resale Prices Higher?

There are several reasons why Ticketmaster resale prices are higher than the original ticket prices. Here are a few:

1. Demand and Supply

The simple rule of demand and supply also applies to Ticketmaster resale. Once the original tickets sell out, the demand for that event remains. The limited availability leads to scarcity, and the price can go up based on the number of buyers compared to the number of tickets available.

2. Seller Fees

Ticketmaster resale sellers have to pay a certain percentage of their sale price as commission to Ticketmaster. For instance, a seller must pay a 10% commission on the sale price of their ticket. This fee covers the administration fee for processing the payment, the seller’s verification, credit card charges, and more.But what does it mean for the buyer? They must pay above the face value of the ticket to cover the seller’s fees, which the seller adds to their ticket price. As a result, the cost of the ticket, when purchased through Ticketmaster resale, can be much higher than the original face value price.

3. Transferable Tickets

Most tickets purchased through Ticketmaster resale are transferrable, meaning that the original purchaser can transfer the tickets to someone else. The prices for transferable tickets are unregulated, and this enables the sellers to inflate prices.

4. Dynamic Pricing

Ticketmaster resale’s ticket prices fluctuate based on demand and supply, dynamic pricing is a pricing strategy, which adjusts the price to meet demand in real-time. When the demand for an event is high, the cost of the ticket can increase quickly. This is especially true for popular events which sell out fast.

What can you do about it?

It’s frustrating to pay more than the face value of the ticket, especially when you believe you’re getting an excellent deal by purchasing through a trusted source like Ticketmaster. Thankfully, there are a few things you can do:

1. Buy Tickets as Soon as Possible

Buying tickets during the initial sale can help you avoid inflated prices on the resale platform. Be ready to buy the moment tickets go on sale, and keep trying to get through – especially if you’re trying to purchase tickets for a popular event.

2. Wait Until the Last Minute

The ticket prices on the resale market usually decrease significantly as the event date approaches, especially if there is a lack of demand. Waiting until the last minute could save you some money, but there are risks involved as you could miss out on availability, or tickets may be more expensive as the event approaches closer to the date.

3. Check Out Other Resale Platforms

Ticketmaster isn’t the only resale platform in town. Sites like StubHub, Vivid Seats, and SeatGeek are also reputable places that offer secondary market tickets. Exploring different resale platforms can help you find cheaper options.

4. Read Reviews and Investigate the Seller

Before making a purchase on Ticketmaster resale, always check the seller’s reviews and ratings. If a seller has a high rating on their previous sales, it’s a good sign that the tickets and transaction are legitimate. Never buy from sellers with negative feedback or no reviews. Additionally, always check that the seller’s name and area code match up with the venue location.

Final Thoughts

Ticketmaster resale prices are higher than the face value of tickets due to a variety of factors. Unfortunately, it’s unlikely that this concept will change in the future as it is beneficial for the sellers, Ticketmaster, and the venue. However, there are a few things you can do to save money and avoid becoming a victim of ticket scalping. Through proper research and timing, you’ll be able to get the tickets at a price that suits your budget, and you won’t have to worry about paying extra for them.