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My Results Reselling Hamilton Tickets
I am a very very very niche ticket reseller and to be honest I kind of hate it. The float time drives me crazy and when you are not very seasoned, like me, it is a crap shoot. That is unless get your hands on a sure thing, like Hamilton tickets. Well at least it used to be that way but how about now? Do you still need to back up a brinks trunk to carry your profits home? I’ll give you my results reselling Hamilton tickets but it is safe to say that Hamilton is not as hot as it once was.
Purchasing The Tickets
The people that get upset about ticket resellers, I await your comments of course, think we are stealing from fans etc. The truth of it is we are not magicians, we don’t have tricks at getting tickets. I don’t have a bot system and in fact Ticketmaster themselves is in the reselling game. I have always done things that anyone can easily do to get tickets. All I did for this sale was sign up as a registered fan to enter the lottery. Pretty much everyone I know who entered got in.
Getting in is half the battle but the time you get is also important. I got a pretty early time so I was lucky. The next choice you have is picking a desired date for your tickets. Weekends are of course a must. I focused on Valentine’s day weekend thinking that it would be a popular weekend to go.
I was able to get 2 tickets for Friday night and 2 tickets for Saturday afternoon the weekend after Valentine’s day (it falls mid week this year). Those seemed like safe bets and Saturday night was already sold out.
I went with the cheap seats and all that was left was near the back of the theater. After a few rounds of searching I found some seats on the far end of the row which I read are good for theater goers. Apparently the seats are kind of tight and the end of the row has a little extra leg room. I thought that may make a difference and get them sold a little quicker, spoiler alert it didn’t really matter.
Each set cost $423.70 for a all in cost of $847.40.
Listing the tickets
In the past I have always listed with Stubhub. They only charge a 10% fee versus a 14% fee at Ticketmaster. These tickets where mobile only so I decided to go with Ticketmaster. They have a seamless listing experience when dealing with mobile tickets and from what I have read you need to be approved at Stubhub to list mobile tickets.
I didn’t want to go through the hassle and I wasn’t sure I would be approved anyway since I have only sold like 5 sets of tickets all year.
The listing process was quick and painless and I listed both sets at 379.99 each. That price put them in the bottom 5 of prices listed. And that is where they sat and sat and sat.
Selling The Tickets
I purchased these tickets on May 18th for a February show so I expected them to sit for a good long while. The wait is one of my least favorite things about ticket reselling, I hate float.
Around mid October they were still sitting there and Shawn let me know some of his tickets sold in the lower section for $399.99. I decided to drop my price to get them sold so I could use the tied up funds for other opportunities. I settled on a price of $299.99 which was around $30 cheaper than everything else at the time. You could say I was a motivated seller.
Both sets ended up selling within a week or so for a take home amount of $514.18 per set or $1028.36 in total. That is a profit of $180.96 for a rate of return of 21.4%. Nothing like the thousands of dollars people were making off of Hamilton a year or so ago but not terrible.
If I had held the tickets until closer to the show I probably would have received a better price for them. But that would have meant holding them for another 3-4 months. I figured I could make up the difference in lost revenue using the money elsewhere in the meantime.
Listing them with Ticketmaster also cost me 4% more than Stubhub ($41.13). If I was a seasoned seller and had the mobile option with Stubhub that would have been a nice boost to my profits.
As you can tell I am not the biggest fan of ticket reselling. To be honest, I am not all that great at it either. Learn from my mistakes! I will continue to do it from time to time to make a little bit of profit and rack up some spend.
Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.