Reselling event tickets can be a great way to make extra money if you know what you’re doing. With Ticketmaster being one of the largest ticket sellers, it’s a prime platform for reselling tickets at a profit. Here’s a comprehensive guide on how to effectively resell tickets on Ticketmaster.
Is it legal to resell tickets on Ticketmaster?
Yes, reselling tickets on Ticketmaster is completely legal in most cases. Ticketmaster facilitates ticket resales through their Ticketmaster Resale platform. As long as you abide by their terms of service, you can legally resell tickets that you purchased yourself. There are some restrictions though, such as not reselling free promotional tickets or reselling tickets at inflated prices. As long as you follow Ticketmaster’s policies, reselling tickets through their platform is sanctioned and legitimate.
How does Ticketmaster Resale work?
Ticketmaster Resale is Ticketmaster’s official secondary ticket marketplace that allows fans to resell tickets they can no longer use. It offers a secure platform for buyers and sellers to transact. Here are some key things to know about how Ticketmaster Resale works:
- Sellers list their tickets for sale and set their own prices.
- All tickets are verified as legitimate prior to listing.
- Buyers can browse listed tickets and purchase them online.
- Ticketmaster charges a 10% commission fee to sellers.
- Tickets are transferred electronically through Ticketmaster’s system.
- Ticketmaster guarantees all resale transactions.
So in summary, Ticketmaster Resale allows you to resell your tickets directly through their marketplace in a secure manner. They handle all the processing and transfers while taking a cut of your profits.
Should you sell tickets through Ticketmaster Resale or a different resale site?
Selling tickets through Ticketmaster Resale has some major advantages compared to using a third-party resale site:
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The main downside to Ticketmaster Resale is their 10% seller commission fee. However, the benefits of security, convenience, and buyer trust that come with their platform often make up for the higher fees. For casual or first-time resellers, Ticketmaster Resale is highly recommended over alternatives.
How much profit can you make reselling tickets?
How much profit you can make reselling tickets depends on several factors:
- Event popularity – More in-demand events allow for higher resale prices and profits.
- Ticket acquisition cost – The less you pay upfront, the more room for profit.
- Timing of sale – Prices tend to increase as the event nears and inventory shrinks.
- Reseller competition – Less competition allows you to maximize prices.
- Fees – Commission and transaction fees impact bottom line profits.
On average, profitable resale tickets are priced 35% above face value. But for hot events, markup can be 100% or more. After fees, experienced resellers generate 25-40% profit on each resold ticket. With extra diligence, profits in the 50-75% range are possible.
How can you get the best deals on tickets to resell?
Here are some tips for scoring tickets at low costs so you can maximize resale profits:
- Take advantage of pre-sales, waitlists and other early access opportunities
- Join fan clubs and follower groups to get exclusive ticket discounts
- Watch for promotions, coupon codes and special offers
- Purchase multi-show packages or season tickets for the best bulk rates
- Buy partial view or obstructed view seats for deep discounts
- Purchase group tickets and resell the seats you don’t need
- Buy at the last minute for unsold seats at reduced prices
When is the best time to post tickets for resale?
To maximize your sales and profits, follow these general guidelines on when to post tickets for resale:
- Immediately after purchase – Take advantage of the initial rush.
- 1-2 weeks before the event – Prices normally peak right before event.
- Day before or day of the event – Capture last minute buyers.
- Avoid 1-2 months before event – Slow sales around this time.
Also consider posting a portion of your ticket inventory at multiple intervals. This allows you to take advantage of different demand cycles as the event approaches.
What events and tickets are most profitable to resell?
The top events and tickets for resell profits include:
- Major rock/pop concerts – Beyonce, Taylor Swift, Ed Sheeran
- Music festivals – Coachella, Lollapalooza, Austin City Limits
- NFL football games – Playoffs, local rivalries, Super Bowl
- NBA basketball games – Playoffs, championship
- NHL hockey games – Stanley Cup
- Broadway/theater hits – Hamilton, Wicked, The Lion King
- Comedy shows by legends – Jerry Seinfeld, Kevin Hart
For high profits, focus on hugely popular events that are likely to sell out. Avoid events with marginal demand or ongoing ticket availability.
What tips help maximize your ticket resale profits on Ticketmaster?
Follow these proven tips to maximize profits reselling tickets on Ticketmaster:
- Research event demand and current resale prices before buying
- Purchase upper level seats; best resale value for money
- Invest in events likely to sell out fast and spike late
- Sell soon after buying before market gets saturated
- Price 10-20% above comparable listings for negotiation room
- Stagger listings at different intervals as event approaches
- Convert all unsold tickets to e-tickets for last minute sales
- Drive urgency with messaging like “limited quantity left”
What mistakes should you avoid when reselling tickets?
Some common mistakes to avoid when reselling tickets include:
- Buying tickets speculatively without checking demand
- Paying more than 50% of expected resale value
- Setting prices too high above comparable listings
- Waiting too long to list; event hype disappears
- Selling all inventory immediately instead of staggering
- Listing fake or duplicated tickets that can’t be verified
- Misrepresenting seat locations or details from true tickets
- Failure to monitor and adjust prices dynamically
Avoiding these mistakes takes research, planning and attentive execution. But it maximizes your profit potential.
Conclusion
Reselling event tickets on Ticketmaster is a great side hustle if you learn effective techniques. The key steps are:
- Score cheap tickets for high demand events
- List them early on Ticketmaster Resale at optimal prices
- Reinvest profits to grow your resale inventory and ROI
With the right approach, you can easily generate an extra 25-75% profit on each ticket resold. Over time, this adds up to a healthy stream of side income in your spare time.
