None of my friends like the artist and now I’m stuck with an extra ticket that cost me $126. I’m having trouble selling it on StubHub because I waited a while to list it and had to mark up the cost in order to have a chance of making back what I paid. I’m having trouble accepting that I’ll probably lose some money in the end.
At what point should I bite the bullet and just accept less than what I shelled out? Ex-Deloitte CEO on Connecting College to the Corporate World Play video: Ex-Deloitte CEO on Connecting College to the Corporate World Don’t Short Yourself offers weekly money tips to help you earn it, stack it and grow it. I would like to receive updates and special offers from Dow Jones and affiliates.
I can unsubscribe at any time. **_If you’re just starting out on your money or career journey and have questions about how to navigate your finances, we want to hear from you. Write to_****_Dollar Signs_****_, MarketWatch’s new advice column, at_****[email protected]_**. You are also unlikely to recoup that cost, especially if you sell it on a ticketing platform like StubHub or Live Nation’s Ticketmaster.
I know this is unhelpful now, but your strategy of waiting to list it might not have been the right one. A “majority” of ticket prices for concerts decrease after you buy them, says Keith Pagello, founder of ticket-tracking platform TicketData. Even if you see that one seller marked up their ticket price considerably, don’t assume they are going to be able to sell it.
At this point, you shouldn’t expect the break even. More than 85% of people going to concerts buy two or more tickets, according to TicketData. Remember, StubHub and Ticketmaster do charge fees.
For both platforms, the fee depends on the ticket price. The higher the selling price, the higher the percentage-based service fee is. Like I said, I would see how much others are selling this ticket for and match that price or sell it for a bit less, just to ensure you get at least some money back.
Extract — continue reading at the source.
