Ticket reselling has often been associated with negative connotations, as people tend to picture scalpers selling tickets in shady ways. However, it is also possible to engage in ticket reselling through legal and ethical means. By utilizing online ticket brokers, you can become a legitimate ticket reseller, providing a valuable service to ticket buyers while potentially making a profit.
The process of buying and selling concert tickets for a profit requires research, strategy, and patience. This article will guide you through the necessary steps to become a successful ticket reseller, covering topics such as ethical and legal considerations, methods of acquiring and reselling tickets, and the use of social media for your ventures. Ultimately, your success will depend on your dedication and adaptability in this ever-changing market.
Key Takeaways
- Legitimate ticket reselling can be a profitable venture when done ethically and legally.
- Research and strategy are crucial for success in buying and selling concert tickets.
- Utilizing social media and online ticket brokers can help you connect with buyers and navigate the ticket reselling market.
Want A Short Cut?
When dealing with resale tickets, especially for concerts, seeking guidance from a mentor can significantly expedite your learning process, prevent costly errors, and support you in mastering the craft. Ticket Flipping Training and Community offers a comprehensive course designed to act as your mentor, ensuring you maximize your profits when buying and selling concert tickets. With the confidence, knowledge, and clarity gained from such a mentor, your ticket resale business will thrive. Remember, investing in mentorship today saves time and money in the long run.
Ticket Scalping vs. Ticket Reselling
When it comes to the world of tickets, there are two different practices: ticket scalping and ticket reselling. The main difference lies in the markup. Ticket scalping often involves a significant markup, making the purchase frustrating and expensive for the buyer. In contrast, ticket reselling might have little to no markup, resulting in a more pleasant experience for the purchaser.
With ticket scalping typically occurring on streets near events, trust can be an issue. However, ticket reselling often involves established brokers like StubHub, Eventbrite, or Shopify, ensuring compliance with local laws and boosting buyer confidence. Both practices aim to distribute tickets, but their methods and impacts on consumers can vary greatly.
How To Buy And Sell Concert Tickets For A Profit
Becoming a successful ticket reseller in the secondary ticket market is achievable, as long as you have determination, tenacity, and knowledge. Let’s explore why ticket reselling can be a lucrative pursuit and how you can get started in the business.
One key reason why ticket reselling is profitable is that event organizers, artists, and venue owners would rather sell tickets below their actual market value to ensure there are no empty seats at the event. This creates a gap in the market and an opportunity for ticket resellers to step in.
Now, let’s break down the steps to profit from buying and selling concert tickets:
- Research events: Pay attention to upcoming concerts and events that are expected to generate high demand. This could be a famous artist’s tour, a popular festival, or a major sports event.
- Find tickets at a lower price: Purchase tickets from official sources or authorized resellers, such as Ticketmaster or the venue’s website. This ensures you’re buying genuine tickets that you can later resell for a higher price.
- Identify potential customer needs: Understand why someone might be interested in buying tickets after they were originally sold out. Perhaps they couldn’t afford it initially, or they faced an unexpected expense. This helps you determine how to price your tickets and target the right audience.
- List your tickets on resale platforms: Choose popular ticket reselling websites like StubHub or SeatGeek to reach a larger audience. Make sure to set a price higher than what you initially paid for the tickets, but still reasonable enough for interested buyers.
- Be mindful of the timing: Since you need to sell the tickets before the event, it’s essential to be quick and efficient in your listings and customer interactions. This minimizes the risk of your tickets becoming worthless.
In summary, ticket reselling can be profitable if you’re willing to research events, purchase tickets at a lower price, understand potential buyers’ needs, list your tickets for a higher price on resale platforms, and be mindful of the time factor. As a ticket reseller, you can create a win-win situation for both you and the end buyer, enabling more people to enjoy the events they love.
How To Get Started Reselling Tickets
Keep Track of Your Ticket Flips
As you begin your ticket reselling journey, it’s crucial to stay organized. Use an Excel spreadsheet to record all your purchases, resales, and profit margins. This will help you identify profitable tickets and the best times to buy and sell. Proper record-keeping will be the backbone of your success.
Embrace a Slow and Steady Approach
Don’t rush the learning process. Take your time to understand the nuances of ticket brokering. Start by reselling just one ticket and gradually increase your volume as you gain confidence. Remember that practice and experience will help you fine-tune your selling strategies.
Enjoy the Process of Ticket Flipping
Ticket reselling can be a fun and rewarding experience. Imagine the possibilities and opportunities that come with an increased income. You may even be able to replace your full-time job with ticket brokering. Stay motivated, have fun, and remember the reasons you started on this journey in the first place.
How to Begin Purchasing and Reselling Tickets
In this section, we will discuss various techniques for obtaining tickets for resale, the types of events to target, and where to purchase those tickets.
Three Approaches to Acquiring Tickets for Resale
Here are three main strategies for legally acquiring tickets with the intent to resell them later:
- Credit Card Presale Tickets: Many major events offer presale tickets if purchased using specific credit cards, such as Citi or American Express. Keep in mind there may be a limit on the number of tickets one person can buy. Using multiple credit cards linked to different accounts on ticket-selling websites can be helpful, but proceed with caution.
- Fan Club Tickets: Many artists’ fan clubs offer special deals and early bird tickets. Ensure the resale of these tickets is permitted, then purchase them at special prices to resell them at market value. Research the fan club’s membership requirements, as some charge fees or have a waiting period for access to pre-sale tickets.
- General Public Tickets: This method carries more risk but has potential rewards. No guarantees come with obtaining tickets or their resale value, but being prepared by having multiple ticket websites open and monitoring the clock can improve your chances of purchasing tickets the moment they go on sale.
Selecting Events to Buy Tickets for Resale
Be strategic when choosing events to purchase tickets for, with the following factors in mind:
- Target audience’s disposable income: Identify events that appeal to audiences, typically middle-aged individuals, who have greater spending power.
- Audience’s planning habits: If the potential audience has not planned ahead, they become the perfect market for reselling tickets.
- Popularity of the artist or event: Focus on events featuring popular and well-liked performers, as this can impact ticket pricing.
- Event location and timing: Factors such as the venue’s prominence, local cost of living, day of the week, and venue size can impact ticket demand and pricing.
Where to Purchase Tickets
Ticketmaster is a popular platform for buying tickets, while StubHub is commonly used for reselling. SeatGeek and Vivid Seats are also viable alternatives. For local transactions, consider contacting the venue directly through their website, phone, or in-person visits. Always check the ticket resale rules on the platform before proceeding.
How to Begin Reselling Tickets
StubHub
StubHub is a popular platform for reselling tickets. Although listing your tickets on StubHub is free, they charge relatively higher fees compared to other options. The advantage of using StubHub lies in its large user base, increasing the likelihood of getting your tickets sold.
To start selling your tickets on StubHub:
- Search for the event on StubHub.
- Find the event you have tickets for and click the “Sell” button next to the venue name.
- Log in to your StubHub account or sign up for a free account.
- Answer a few basic questions about your tickets, such as:
- Do you currently possess the tickets?
- Will you deliver your tickets via email or by shipping them?
- Fill in the quantity, section and row, and specify if you’re willing to split up your tickets between different buyers.
- Set your ticket price. You can choose between a “Fixed price” or a “Declining price,” which allows StubHub to gradually decrease the price to maintain competitiveness.
- Decide how you want to get paid, either via PayPal or by paper check. Don’t forget to account for seller fees when determining your total sale price.
In addition to StubHub, other platforms like VividSeats and SeatGeek also allow you to resell tickets. Using multiple ticketing platforms increases the chances of your tickets getting sold, but remember that fees and the process may differ for each platform.
Ethical, Legal, and General Concerns
Ethical Concerns
Many people perceive ticket resellers negatively, associating them with dishonest practices. However, this is not always true. Some argue that resellers take away opportunities for genuine fans to secure tickets for events. However, resellers and fans have equal chances of acquiring those tickets. Determined fans can still obtain tickets, despite the presence of resellers.
Additionally, resellers provide an option for people who are unable to purchase tickets when they are initially released—although tickets may be available for a higher price. It’s important to consider that reselling is not entirely risk-free, as resellers invest their own money in the hope of making a profit.
Legal Concerns
The legality of ticket reselling is a common concern. Many states have not updated their anti-scalping laws, resulting in restrictions on resellers’ proximity to venues. It’s crucial to research your state’s laws before pursuing ticket reselling. Some states may have loopholes allowing for the practice.
Other Concerns and Risks
Two significant risks in ticket reselling are buyer fraud and the lack of liquid funds:
- Buyer Fraud: Some people may attempt scams, claiming they didn’t receive the tickets or that the tickets differed from the advertisement. While some broker websites offer mediation, not all do—be sure to read the fine print. StubHub is known to be a safer option if you’re concerned about buyer fraud.
- Lack of Liquid Funds: There may be instances where tickets don’t sell as quickly as you’d like. This could be due to market changes, unfavorable publicity for the artist, or even weather conditions. When this happens, your money remains tied up in those tickets.
Make sure you don’t rely on the profits from ticket reselling for everyday living expenses. Treat this as an investment and create a special fund just for buying and selling tickets. Only pull from the profit when necessary, such as for groceries.
Frequently Asked Questions
What are the fees for Stubhub tickets?
Buyers pay a 10% fee, while sellers pay a 15% fee for each completed sale on Stubhub.
Is SeatGeek a legitimate ticket source?
Yes, SeatGeek is a legitimate platform for buying and selling tickets. It’s a trustworthy operation.
How do I sell tickets on Ticketmaster?
Visit Ticketmaster.com and click the “Sell” button located in the top right corner. Search for the event you’re selling for, select the dates, and sign in or create an account if necessary. The process is simple and straightforward.
Is reselling tickets illegal?
The legality of reselling tickets varies depending on the state and method of resale. Most states prohibit reselling in front of the event venue, but permit online sales. Be sure to check your local laws for specific regulations.
Some Success Stories
Michael Violi
Michael Violi turned ticket reselling into a full-time career after attending a TOOL concert. While studying in college, he once bought tickets at a higher price than their market value, which sparked his curiosity about the ticket brokering industry.
Fast forward to Violi’s first reselling experience – four tickets to an Eagles concert. However, he didn’t achieve instant success. He lost $25 on the first pair of tickets and made a mere $50 from reselling the other two. But with perseverance and learning from experience, Violi eventually became a self-employed ticket reseller.
Bryce Conway
An author with multiple books, Bryce Conway writes about travel, personal finance, and lifestyle design for over 30,000 monthly readers. Like Violi, Conway’s interest in ticket reselling began in college.
While browsing the Facebook Marketplace for a textbook, he noticed back-to-back posts: “Selling football ticket, $50” and “Looking to buy football ticket, willing to pay $150.” He seized the opportunity, buying the ticket for $50 and reselling it for $150 within a short distance between the two people. From this moment, Conway started buying and selling tickets regularly, turning it into a lucrative income stream.
Reselling Concert Tickets: Moving Forward
Now that you’ve gained insight into the world of ticket brokerage, you’re more knowledgeable about what it takes to succeed in this field. The process is far more professional and rewarding than street-level scalping, and with proper planning and strategies, you can turn it into a thriving business.
By now, you’re aware of where to buy tickets for resale and how to make smart purchasing decisions. You also know the best platforms to sell your tickets and how to navigate potential concerns and risks. Through the success stories of others, you can see the potential opportunities this industry has to offer.
However, there’s no substitute for practical experience. As you begin to resell tickets and navigate the market, you’ll encounter valuable lessons that will contribute to your growth. Remember to work smart, stay persistent, and follow all ticket reselling regulations to ensure success as a ticket broker.
While diving into this business can be a risk, there’s always the option to learn from the experiences of others. Shorten your learning curve by observing both the mistakes and victories of those who came before you. This approach will set you up for a more confident and skillful start in ticket brokerage.
