Ticket Experiment

[Coach]

So a few weeks back I found a link to a website that gave away pre-sale codes for concerts. The pre-sales codes allow you to get access to premium seats at the various concerts before the tickets go onsale to the general public. So I did an experiment to see if I could make money buying those tickets and then scalping them on stubhub.com. Here are my results:
I purchased tickets to 5 shows that I thought would sell out:
Bon Jovi
Brad Paisley
Eagles w/dixie chicks and keith urban
Tom Petty
Kings of Leon

My total cash outlay for these tickets was $1040
My total inflow after StubHub fees was $1460
Net profit: $420
Time involved: 1-2 hours
Return on investment: 40%

I was successful in selling my tickets for every concert because I made sure they were very competitively priced. Most of these concerts don't take place till July and the tickets are already sold. I may have been able to get more out of them, but decided that it was more important to get my money back out of them versus demanding top dollar.
This business model seems scalable and I can completely understand why scalping is such a big business even if it's not for me.

[Connie Jo]

So a few weeks back I found a link to a website that gave away pre-sale codes for concerts. The pre-sales codes allow you to get access to premium seats at the various concerts before the tickets go onsale to the general public. So I did an experiment to see if I could make money buying those tickets and then scalping them on stubhub.com. Here are my results:
I purchased tickets to 5 shows that I thought would sell out:
Bon Jovi
Brad Paisley
Eagles w/dixie chicks and keith urban
Tom Petty
Kings of Leon

My total cash outlay for these tickets was $1040
My total inflow after StubHub fees was $1460
Net profit: $420
Time involved: 1-2 hours
Return on investment: 40%

I was successful in selling my tickets for every concert because I made sure they were very competitively priced. Most of these concerts don't take place till July and the tickets are already sold. I may have been able to get more out of them, but decided that it was more important to get my money back out of them versus demanding top dollar.
This business model seems scalable and I can completely understand why scalping is such a big business even if it's not for me.

Which Bon Jovi concert was it? One they're doing with Kid Rock this summer?

[Chiefster]

Wow! You could have made many times more that amount.

[tornadospotter]

Interesting information, Coach. So with the profits you are buying a round of ?

[Connie Jo]

Wow! You could have made many times more that amount.

Yeah, he most certainly could've, but I'm glad he didn't. :)

I couldn't do it, my conscience would eat away at me, hahaha. I know letting a conscience get to ya over scalping is likely silly, because the reality is the scalpers don't force any one to pay the amounts they're willing to pay...free enterprise, free will.

It's similar to blaming only the drug dealers, view the addicts as victims...well, those victims made/make the 'free will' choice to use drugs. The dealers wouldn't exist if the users didn't buy.

I've personally witnessed over the years many people who out of desperation, or realistically pure selfishness...will pay any price to acquire the best seats at a concert. In the meantime...they don't pay their bills, neglect their kids at times too, as a result of their 'music concert' and related partying addiction...and it is an addiction for many.

For me, music is a passion, and I would never put it above my kids, or any person's well being, including my own. Unfortunately it's not like that for all...for many it's not even about the music...it's about the environment, more about the sex & drugs than the Rock n Roll...sad to say. :(

[honda522]

How many tickets per concert?

[Coach]

How many tickets per concert?

2 tickets for every show except Bon Jovi where I did 4. I sold the Eagle/Dixie Chicks/Keith Urban tickets way too low. The show is at Soldier Field and I probably could have gotten double what I charged but I would have run the risk of getting stuck with the tickets.

Fun experiment, but I think I'll keep my day job.

[Chiefster]

Yeah, he most certainly could've, but I'm glad he didn't. :)

I couldn't do it, my conscience would eat away at me, hahaha. I know letting a conscience get to ya over scalping is likely silly, because the reality is the scalpers don't force any one to pay the amounts they're willing to pay...free enterprise, free will.

It's similar to blaming only the drug dealers, view the addicts as victims...well, those victims made/make the 'free will' choice to use drugs. The dealers wouldn't exist if the users didn't buy.

I've personally witnessed over the years many people who out of desperation, or realistically pure selfishness...will pay any price to acquire the best seats at a concert. In the meantime...they don't pay their bills, neglect their kids at times too, as a result of their 'music concert' and related partying addiction...and it is an addiction for many.

For me, music is a passion, and I would never put it above my kids, or any person's well being, including my own. Unfortunately it's not like that for all...for many it's not even about the music...it's about the environment, more about the sex & drugs than the Rock n Roll...sad to say. :(

Same here kiddo; I'm way too much of a straight arrow. I can't walk out of the super market with one more cent in change then I should have.

[tornadospotter]

Same here kiddo; I'm way too much of a straight arrow. I can't walk out of the super market with one more cent in change then I should have.

Dang rite you wouldn't, in the store I work in! Cause that is one less cent, I might that need that for a raise in pay.

[Chiefster]

Dang rite you wouldn't, in the store I work in! Cause that is one less cent, I might that need that for a raise in pay.

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...And you sir where the very one I was thinking of when I made the above statement. We old geezers gotta stick together after all....zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz zzzzzzzzz.....What was I talking about???