Photo Credit: Annie Spratt
Concert ticket prices continue to soar, but for a growing class of bargain-hunters, it’s about the love of the chase.
The discussion around reselling concert tickets has only grown more contentious amid soaring prices. But for bargain-hunters like Casey McNerthney, that just makes scoring a $9 all-in ticket to see Cyndi Lauper, or a $12 ticket for Coldplay, even more delicious.
McNerthney isn’t a huge Cyndi Lauper fan, nor of many of the acts he’s scored for cheap. “It doesn’t matter who you’re going to see at a stadium for less than $15 bucks,” he told The Wall Street Journal. “You’re going to have a good time if you have the right outlook.”
Concertgoers like McNerthney are part of a growing class of ticket bargain-hunters who keep a close watch on places like StubHub, SeatGeek, TickPick, and Gametime — apps where brokers and fans resell tickets. Even Ticketmaster can offer an unbelievably sweet deal when ticket prices often fall dramatically the day of the show.
These deals are usually the result of ticket brokers looking to unload their inventory at the last minute. Sometimes it’s just fans reselling tickets to shows they can no longer attend.
According to McNerthney, ticket prices usually reach their lowest point two or three days before a show. Then they’ll gradually increase to full price until the day of the event, then plummet at the last minute — like when the opening act has already hit the stage.
Randy Nichols, an artist manager who leads the National Independent Talent Organization’s ticketing committee, says scalpers make bets on the demand for a show when buying up tickets at face value. To make a profit, they’ll usually sell some tickets at a severe markup to secure their profit. But when the scalpers overestimate the demand, they’re forced to sell off unsold tickets for cheap or risk being left holding the bag.
So for folks like McNerthney, the thrill of nabbing one of those last-minute fire sale tickets is unmatched. And the practice has only increased in popularity as the price of concert tickets continues to skyrocket.
This year, the average ticket price for the top 100 tours in North America rose to $136.45 — nearly double that from a decade ago, according to Pollstar. As a result, prices on resale sites can go even higher, especially for high-demand shows.
But good things can come to those who wait. Bruce Springsteen tickets in Philadelphia went for around $8 on SeatGeek last summer. Santana and Counting Crows near Seattle sold for around $4 and in Michigan for just $19. In Los Angeles, tickets to see REO Speedwagon and Train rolled out the door for a jaw-dropping $2.
These prices aren’t necessarily a display of a poorly sold event. Bruce Springsteen had one of the top highest-grossing world tours last year. That Cyndi Lauper show McNerthney saw for $9 had tickets on SeatGeek selling for an average of $148.
Of course, this kind of bargain-hunting requires a willingness to drop whatever you’re doing to head to a show that may already be in progress. And you might need to be willing to miss a show if prices don’t come down, depending on your definition of a bargain. But if you live in an area where lots of acts are coming to town, you might try your luck hunting for a last-minute deal.