How to start buying and selling tickets on a shoestring budget
I’m a pretty risk averse person, so I’ll be in search of events that are a sure thing – or as close to that as possible. I’m not expecting to quit my job anytime soon, but I’d love to make an extra $300-$600 per month selling tickets. If my average return is 30%, and I spend an average of $100 per ticket, I’ll need to buy and sell 10 – 20 tickets, or 5 – 10 pairs of tickets per month. That seems doable.
My ticket broker library is a great resource, and I will use the guidelines and tips to help me find good, profitable tickets; then use these techniques to acquire the best tickets for the right price. I'll also sell tickets for the right price… at the right time… at the best place on the internet. – for me that's Stubhub.
And while I have a number of techniques for researching which concerts are hot, I’m far from being any sort of expert on what concerts will sell out and command a high price. That’s the million dollar question. There are lot of factors — venue, city, day of the week, how are the tickets priced, how often do they tour, have any shows been added, among other things. Sure, the megastars might be easy to predict, but what about the medium size groups.
I'll start with a few tickets, but I love the idea of exploring baseball tickets – season tickets are too expensive for my first time, so I’m going to check out some mini-season tickets.The nice thing about baseball, or any sport, is that all the attendance records and their current standings are very easy to find.My research should be fairly short-forward. But this is my low risk, small investment approach to becoming a ticket broker.
- Create a calendar – include dates of major events. Super Bowl, College Bowls, World Series Tickets. First is Super Bowl Tickets – I can do that tomorrow.The profit in Superbowl tickets is huge. If I can cash in on a sure thing, I should try. Some of the bowl games are hugely popular and profitable
- Research – sign up for newsletter. Ticketmaster and, a few other resources.Look at what shows are going on sale soon – Livenation. Take a look what the big ebay ticket sellers are selling. There are tools on ebay to find out what tickets have sold at what prices over the past year. The Ticket Broker Guide provides some nice tools for that research.
From everything I'm reading lately, and from my own experience, presale passwords are another key strategy for getting the best tickets. There are some free sites that you can check out, but it seems like they come and go.
My favorite lately is Wiseguys Presale Passwords. This site is super up-to-date and the owners are very responsive and active, which is SO important in this field. Staying current is everything. Again, there is a free trial to check it out –
Wise Guys Presale Password - and again, evaluate if this is something you can afford and can use profitably! If it is, keep it! If not, dump it and use your money elsewhere.
- Practice "pulling tickets" – several authors suggest practicing pulling and evaluating tickets, but not actually buy the tickets. It sort of looks like fun, so I’ll just pick some shows over the next few weeks and do practice pulls.
Consider a browser that can really give you a leg up when pulling the best tickets such as Insomniac Browser (sign up for free trial) And if you don't like it, cancel! But give it a try – Insomniac Browser
- Maintain a budget – I'll limit my ticket purchases to tickets under $100 for now, and I’ll limit my debt to $750. I have some savings, and this is the level of debt I'm willing to manage for now.
- Determine the Sell Out events - Honestly, if you follow the guidelines on from The Ticket Broker Guide and The Lazy Way to Buy and Sell Tickets for Profit, you should be able to make very educated guesses about what shows and events will sell out.
- Red Sox tickets – a sure winner? - I'm going to see if there are any Redsox tickets left – after all, they’re right in my back yard. I had my eye on Minnesota Twins tickets – they had a great record last year, had a 100% attendance, and are expected to do well this year. Season tickets were too much. But if they’re doing well, I may jump in the game and get some mini-season passes. The Lazy Way to Buy and Sell Tickets for Profit is an excellent resource for delving into the sports tickets.
So that's my plan….as I find new, valuable resources, I'll be sure to include them on my website. If there are any resources on how to be a successful broker that you think others would benefit from, please feel free to share them on the Ticket Broker Resources page.