If you’ve found yourself with surplus concert tickets, can’t make it to the show, or you are a professional ticket reseller, you can make money by selling tickets. But, often the question is: when is the best time to resell concert tickets? We will discuss that in detail.
The golden rule of reselling: Time it right!
Table of Contents
- When Is The Best Time To Resell Concert Tickets?
- 1st Secret: Do Not Wait Until The Last Minute
- Secret No 2: Use Peak Resell Windows
- Secret No. 3: Offload Remaining Tickets 1 Week Out
- Top Timing-For-Profit Practical Tips
- How Early Do Concert Tickets Go On Sale?
- What Is The Fastest Time For Concert Tickets To Sell Out?
- Do Concert Ticket Prices Go Up After Presale?
- How to know when concert tickets go on sale?
- Final Words
- TL; DR
When Is The Best Time To Resell Concert Tickets?
The optimal time for reselling tickets does not conform to a one-size-fits-all all approach. It’s a little more nuanced and influenced by a multitude of factors that we will discuss in this article. Let’s get started exploring the layers that determine the best time for making the most out of your extra tickets! We will answer your question with 3 top secrets/tips.
1st Secret: Do Not Wait Until The Last Minute
When we talk about low-demand days, we’re referring to those sometimes overlooked opportunities that fall outside the standard selling window. The low-demand period is the last few days leading up to the concert when typically, demand tends to decrease as most of the potential buyers have already secured their tickets. As a result of this, You will Have to lower prices substantially to sell.
Nearly half of all tickets are sold either three or more months before the show, and prices are 33% cheaper if you sell them in the week before.
The secret here lies with the concept of supply and demand. Since there is a decrease in the demand, it means resellers have to lower their prices to sell. So avoid this predicament by selling early.
Secret No 2: Use Peak Resell Windows
In general, the best time to resell a concert ticket for an event happening 12 weeks from now would be NOW! Once you have the tickets, start planning your reselling efforts. As the event date approaches, demand for tickets increases then it decreases, so you need to weigh the variables and decide. Here are some tested tips.
A. Prices Are Higher 8-12 Weeks Before the Event
To benefit from the early buyer demand, you need to target the 1st week, meaning once the tickets are available. You may ask, “How is this relevant to reselling?” Well, it’s simple. Expectedly, the hype for a concert is highest during this period, the demand is likely to rise as the show announcement is made. The elevated demand could be your golden ticket for selling at a higher price.
20% of tickets sell within the first two weeks.
B. Prices Decrease 4-6 Weeks After Sell-Out
According to a Priceonomics study, ticket prices for events like Coachella tend to bottom out after the fourth or fifth week from the sell-out point, suggesting that waiting until this period could be advantageous for buyers and a problem for resellers.
C. Prices Going Up Again 2-3 Weeks Before Concert
As many people who are going to a concert generally start hunting for tickets 3 weeks before the event, prices begin to increase within the final 3 weeks leading up to the concert. This heightened level of urgency from potential buyers drives prices up and could result in massive profits for resellers.
It’s crucial to note that risks are equally high during this period. The reason is, if you wait too long and are unable to sell your tickets, you could end up making a loss as we discussed in our 1st secret.
Secret No. 3: Offload Remaining Tickets 1 Week Out
What if your tickets still aren’t selling and you are getting closer to the last week? Well, it’s not time to panic just yet. We still have one more strategy to discuss: lowering prices. Before last week, it may be wise to consider lowering the price of your tickets and offloading them. After all, even if you sell at a slightly lower price, some profit is generally better than no profit at all, especially if you risk the tickets going to waste.
Top Timing-For-Profit Practical Tips
- Track ticket availability: When you notice the ticket supply decreasing, it might be an excellent time to list yours. Use the official website or ticket-selling platforms to check availability.
- Monitor market prices: Always be proactive in monitoring ticket prices on different platforms. Prices often rise when the inventory gets low.
- Consider your profit margin: Remember, your goal is not just to sell, but to sell at a profit. Make sure to factor in the costs of acquiring the ticket and any fees you might have to pay when selling.
- Understand your audience: Each genre attracts a unique audience with unique buying behavior. You need to follow and understand your target buyers.
- Utilizing Reselling Platforms Wisely: Today’s digital world offers an array of online ticket platforms to sell tickets. Take time to research and figure out which platform suits you best. High-traffic platforms like StubHub or Ticketmaster may offer better visibility. Meanwhile, platforms such as Craigslist might offer less competition. Also, consider the fees charged by each platform to ensure you’re getting the most profit from your sales.
- Watch how the public feel about the event: knowing the direction of the public’s sentiment towards the concert or performer can greatly help you decide when to sell. Use social media platforms like Twitter and Instagram for sentiment analysis.
How Early Do Concert Tickets Go On Sale?
Concert tickets typically go on sale several months to a year in advance of the event, but the exact timing can vary based on several factors:
- Artist or Band’s Schedule: Popular artists or bands often announce their tours and start selling tickets several months in advance. This allows fans ample time to plan and purchase tickets.
- Event or Festival Planning: For large events or music festivals, tickets may go on sale up to a year in advance. This is especially true for annual events with high demand.
- Venue and Ticket Seller Policies: Different venues and ticket selling platforms might have their own timelines for ticket sales. Some might release tickets closer to the event date.
- Type of Concert: Smaller or local concerts might not have tickets available until a few weeks or months before the event.
- Pre-sale Events: Often, there are pre-sale events for fan club members, credit card holders, or subscribers of the ticket selling service, which could happen days to weeks before the general sale.
What Is The Fastest Time For Concert Tickets To Sell Out?
The time it takes for concert tickets to sell out can vary widely depending on several factors, including the popularity of the artist, the size of the venue, the location of the concert, and the availability of tickets. For highly popular artists performing at well-known venues, tickets can sell out within minutes.
Do Concert Ticket Prices Go Up After Presale?
The relationship between presale and regular ticket prices for concerts can vary depending on several factors. In some instances, presale tickets can be cheaper than regular tickets. This is often the case if presale tickets are released before a significant increase in demand for the event. Conversely, presale tickets may sometimes be more expensive than regular tickets, particularly when there is high demand for the event.
Related: Ticketmaster Waiting Room Top Tips.
How to know when concert tickets go on sale?
To stay informed about when concert tickets go on sale, you can follow these strategies:
- Artist or Band’s Official Website and Social Media: Most artists and bands announce ticket sale dates on their official websites and social media profiles. Following them on platforms like Instagram, Twitter, and Facebook can provide timely updates.
- Email Newsletters: Sign up for newsletters from your favorite artists, bands, or music groups. These newsletters often include information about upcoming tours and ticket sale dates.
- Venue Websites: Check the websites of venues where concerts are typically held. Venues often have mailing lists or notification systems for upcoming events.
- Ticket Selling Websites: Major ticket selling platforms like Ticketmaster, Eventbrite, or AXS offer notification services. You can create an account and set up alerts for specific artists, venues, or types of events.
- Fan Clubs: Joining an artist’s fan club or group can sometimes offer early access to tickets and information about when tickets will go on sale to the public.
- Music and Concert Apps: Use apps dedicated to music and concerts, such as Bandsintown or Songkick, which track your music preferences and notify you about ticket sales for artists you’re interested in.
- Local Radio Stations and Magazines: Local radio stations and entertainment magazines often announce upcoming concerts and ticket sales, especially for larger events.
- Presale Codes: Look out for presale opportunities, which often occur before the general ticket sale. Presale codes can be obtained through fan clubs, credit card companies, or other promotions.
As a savvy reseller, you should understand that concert ticket prices are dynamic and often affected by market trends. Timing is crucial and often has a significant impact on the profitability of reselling concert tickets. Combine the knowledge in this article with the tips in our ticket resale guide to achieve the best results.
- Avoid waiting until the last minute to sell concert tickets, as demand typically decreases in the days leading up to the event, forcing sellers to lower prices.
- The optimal time to resell tickets is generally 8-12 weeks before the event, capitalizing on early buyer demand and high interest, with prices often being higher during this period.
- Ticket prices tend to decrease 4-6 weeks after a sell-out, but rise again 2-3 weeks before the concert as demand increases, offering another potential window for profitable reselling.
- If tickets remain unsold as the concert date approaches, consider lowering prices in the week leading up to the event to offload them and avoid losses.
- Successful reselling involves monitoring market trends, ticket availability, understanding the specific audience, using reselling platforms wisely, and considering public sentiment towards the event.
- Ticketing proxies