How To Make Money Buying and Reselling Tickets (1)
How to Scalp Tickets
Scalping tickets refers to the advance purchase and resale of tickets once an event has sold out. Depending on the supply-and-demand for a given ticket, there is a lot of money to be potentially made in ticket scalping. It is illegal most places, you can easily fund your personal ticket purchases by learning the craft of scalping and selling a few at each sold-out show you attend.
Scalping Tickets Online
Use a proxy server.Ticket scalping is most likely illegal where you live. Although the chances of you being caught are slim, you should look into getting a proxy browser like Tor if you're any bit worried. Proxies will block your IP address and make it difficult
Buy tickets early.If you're going to be using an online outlet to sell, you won't be doing yourself any services if you wait to strike. Keep your eye out for presales and wide-release sale dates.The sooner you buy tickets, the better tickets you'll have at your disposal. Better tickets will maximize the likelihood of being to sell them off to a potential customer.
Choose a suitable price.There is much debate as to how much a scalper should charge for an upmarked event ticket. Ultimately, it depends on the original price, quality of seat, and predicted demand for the ticket in question. Generally speaking, if a show has sold out, it becomes a seller's market. Many professional scalpers tend to upmark resold tickets by 50%.
- Don't forget to factor in service fees (including fees from the online marketplace) into your final price.
- If your ticket price is way over the face value on personal ad sites like Craigslist, you run the risk of getting your post flagged.
Sell via an generic online marketplace.You can sell tickets online as you would anything else. Websites like eBay and Craigslist are known hangouts for online scalpers although the police are wise to that now.Both of these sites allow the resale of tickets, and you can do so without incurring the major fees of ticket sites like StubHub.
Use a ticket resale website.Ticket resale websites, colloquially called "fan-to-fan marketplaces", have emerged specifically due to how much money there is to be made in ticket resale. Websites like StubHub will allow you to post your tickets in a trusted setting.These marketplaces are helpful because they're relatively safe and the buyers on that site will be there specifically with what you're selling in mind.
- A ticket resale website also allows you to browse your scalping competition more conveniently. If you're unsure how much you should mark up your ticket price, you can look up on what other scalpers are charging for the point of reference.
Consider hidden fees.If you're using an online marketplace like StubHub, you should keep in mind the fees you may incur.StubHub typically siphons 15% of your profits, plus a service charge. If you're selling enough tickets and cutting enough of a profit margin, this shouldn't be an issue. If you're a more small-time scalper however, you may be better off with using a site like Craigslist or selling the tickets in person.
Track your profits.While scalping tickets in person tends to be a casual affair, purchasing and reselling tickets online for profit is more of a business than anything. Because the logistics are easier, you can think more about it in terms of supply-and-demand, market value and probability. With that in mind, keeping a spreadsheet of your profits and losses is essential for success in the long run.
- If your tickets are selling fast, you may want to buy more tickets next time. On the other hand, if you're not getting enough sales, you could lower your upmark a bit to attract customers.
- Not everything will work the same for each category. Sports events may see different rates of success than an avant-garde metal concert. It may be a good idea to split your spreadsheet into different types of event. That way, you'll be able to see where the most money is.
Scalping Tickets in Person
Determine whether a show will sell out.Especially if you're selling a ticket in person, you need to make relatively sure that there will be a demand for the upmarked tickets you're trying to sell. There is only a promise of demand if the event sells out. You can usually have a decent idea whether or not a show will sell out based on other shows that artist or team have put on. Look online to see if earlier events sold out.
- Artists who charge the least for tickets are your best bet as a prospective scalper.
- It's a good idea to look up on the artist performing as well, specifically their history for pricing. Some artists may charge as much as they can for tickets, while others will purposefully undercharge with the hopes of capitalizing on merchandise sales once their customers are inside the venue.
Aim to buy higher quality tickets.Unlike selling online, you are probably not going to be able to sell to a large amount of buyers while scalping in person. Realistically, a dedicated scalper may only sell to a few parties in one night, so it's important to make those sales count with higher quality tickets. Buy your tickets early, and make sure the tickets themselves are part of a tier that's bound to sell out fast.
Get to the venue early.It doesn't hurt to get to the venue early. After all, fans who are desperate to get tickets aren't going to wait around to head over. For the highest demand events, you may have all of your tickets sold hours before the show starts. Getting to the venue will also give you a time to gain some selling momentum before the majority of ticket-holders show up and things begin to get chaotic.
Make sure the buyers have the cash beforehand.Because of the illegality of scalping tickets, you won't be able to go to the police if you're cheated by a prospective buyer. Before handing anyone your tickets, make sure they actually have the cash to pay for it.
Be loud.You don't exactly need to have a brilliant marketing scheme when it comes to scalping tickets, but you do need to make people aware that you're selling them. Be loud, and shout what you're selling. including the type and number of seats. You can repeat this information loudly. If there is a demand for what you're selling, people will eventually come up to you and ask.
- For example, if you were selling great tickets to a sold-out Dream Theater concert, you could say something like this: "Dream Theater, front row! Pair of tickets."
- You don't need to shout out the price as part of your repeated mantra. Some people who approach you may be more likely to accept a price once they've already opened a dialogue with you, as opposed to hearing a high price before approaching.
Make the exchange.Once the interested buyer has agreed to your price, its a simple matter of exchanging the tickets for the cash. The exchange itself should be fast and painless. There may be reason to be suspicious if the buyer is procrastinating or wasting time. In the vas majority of cases, buyers looking for scalped tickets are in a rush to get inside the venue, so an interaction shouldn't take very long once the price has been agreed upon.
- Don't expect the buyer to show much in the way of gratitude. Scalpers are looked down on, and although they technically getting into a sold-out show because of you, the opportunism isn't going to get you into anyone's good graces.
Lower your prices if necessary.Like so many things in business, there is an element of financial risk in scalping tickets.Sometimes, a show will not sell out near as much as you thought you would. The tickets you are selling may not be quite as demanded as you had hoped for. If you're having bad luck, don't be afraid to lower your ticket prices. If there is no hope of selling them for a profit, you should cut your losses and sell the tickets at face value or below. It will be a defeat, but nowhere near as much as if you let the tickets go to complete waste.
- On a brighter note, selling tickets at their face value is completely legal, so you won't have to worry about infringing upon the law if it turns out you have to lower your prices.
QuestionHow do I know when tickets start to sell?wikiHow ContributorCommunity AnswerUsually there are websites, often owned by the ticket providers themselves, that will list upcoming shows and the future ticket sale date. Ticketmaster is a good example.Thanks!
- While turning a profit on scalped tickets is often illegal, it's legal everywhere to sell a ticket at its face value. Of course, there is no use in doing this unless you bought tickets and can no longer use them.
- Some people have actually made entire careers out of the resale of tickets.You might make surprisingly good money off of this venture if you have a knack for scoping out the market.
- Selling scalped tickets is illegal, you can't get into much trouble buying them. Although the upmarked prices tend to make scalped tickets not worth it, you can go into buying them free of anxiety if you choose to do so.
- Be cautious if you try to buy any scalped tickets yourself. Ticket fraud is very common, and while most scalpers are trying to make an honest dollar, there are some trying to swindle buyers.
- Although it's a victimless crime, the act of scalping tickets is illegal in most countries. If you choose to go through with the resale of tickets, you do so at your own risk. In some Canadian provinces, for example, you may incur a maximum 00 fine if caught.
- Be aware of competition and the police. If it's a high-priority event you are reselling for, it is unlikely you're the only one tapping into the scalping market. Keep your eyes out for other scalpers. If you can, try to hear how much they're selling their tickets for.
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