Monday Morning Miles Talk is a regular series that has some smaller, more quirky ideas to kick off the work week. These are essentially random ideas that I wanted to share with you. Here are the 4 most recent topics.
- My Star Wars Reselling Flop
- Beware of buying Sam’s Club gift cards online
- Are Tips Covered With Hyatt Globalist Breakfasts?
- 5 Deals I Regret Missing Out on Since Joining the Hobby
If you would like to read even more articles in the series you can click HERE.
Results from Reselling Justin Timberlake Concert Tickets
I am a novice when it comes to ticket reselling. I have resold some college football tickets on Stubhub etc. but I have never done concert flipping. It seems like something that a lot of people make some decent money at so when PDX Deals Guy let me know Portland was having a pre-sale on the Justin Timberlake tour I decided to give it a go. You should check out his Ticket Reselling Guide for more in-depth information if you’re interested in learning more.
Details on the Concert
The presale was for anyone who had an American Express card, so it was pretty easy to get in. You only needed to pay with an American Express card when checking out – no code needed. I of course paid with my freshly minted Aspire card!
There were a lot of things going for this concert from a reselling perspective:
- Big time headliner
- JT has been on the sidelines for a little bit so there would be pent up demand
- Saturday night show
- Only one show in Portland which would mean tickets would be more scarce
- Smaller venue with very reasonable prices
This show had the random selection set up from Ticketmaster which is annoying. I like it better when you can look at sections etc. So it is kind of luck of the draw and boy did I luck out.
I started with the second lowest price – $95 before taxes and fees. The lucky part was that I got row A tickets. They were straight across from the stage, so no side view etc.
I am a novice but I have to believe everyone values front row over everything else. Even though they were in the upper section being in the front would come with a lot of pluses.
The cost was $218.10 for 2 tickets. I listed them for $250 a piece…a healthy mark up. And to my shock they sold in about an hour for a payout of $467.98. Now this means I probably priced them a little too low but I will take a quick 115% profit any day. I had expected to sit on these for a little bit since the public sale wasn’t for a few days…the magic of row A I guess.
With how quick my tickets sold I decided to go back for more. I bought 2 more tickets on the same level but I didn’t get near as good of tickets. They were to the side and many rows up. I kind of regretted the purchase as soon as I made it. I probably should have just stuck with my quick profit but greed got the best of me. The first sale more than covered the second purchase anyways so I said, why not?
I priced these pretty aggressively since I knew they weren’t the best tickets and the public sale was coming up. I unloaded them a few days later for measly $30 profit.
I would say for my first dip into ticket reselling it was a pretty good success. I ended up with a cash profit of $280 and a return of 64%. Not too shabby for 30 minutes of work!
If I had been a little more experienced I probably would have bought more tickets and would have priced them more aggressively. I need to build up my ticket reselling war chest and experience first though :).
If you enjoyed this article about reselling you can read my other reselling entires:
- Reselling SNES during the holidays
- Thinking outside the box to increase reselling gains
- Reselling AirPods at the end of their cycle
- My Star Wars reselling flop
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