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How To Sell Concert Tickets and Make Money

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People used to view ticket reselling unfavorably. The mere mention of the word scalping brings to mind shady characters loitering on street corners, selling concert tickets for a higher price to people who could not get one for themselves before they sold out.

Indeed, scalping is illegal in many places. However, there are legal alternatives to scalping.

In this guide, we will discuss how to sell concert tickets and make money legally.

What Does Ticket Reselling Mean?

Ticket reselling means you buy concert tickets at a lower price and then sell them at a higher price to earn profit.

It could also mean ticket brokering or touting. Basically, you buy concert tickets from a licensed seller, such as a concert organizer, in bulk, and then resell them at a higher price.

Nowadays, ticket reselling is mainly done online.

Ticket Reselling vs. Ticket Scalping

Ticket reselling is a legal trade that takes place in compliance with local or federal laws. The reseller buys these tickets from a licensed seller who is compliant with any ticket-selling regulations in the jurisdiction.

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In contrast, ticket scalping is often illegal since scalpers do not abide by local laws governing the sale of tickets. Scalping is sometimes referred to as a black market.

However, it can be hard to tell the difference between the two, as explained by SeatGeek’s director of growth and communication, Will Flaherty.

He says, “The lines are blurring between a professional scalper and someone who sells their tickets. Back in the day, brokers would have to fax each other updated inventories. Now, that information is readily available to sellers online.”

Is Ticket Reselling Profitable?

Ticket reselling is definitely profitable, although it might not seem so to some people. After all, why would someone buy a ticket for $1,000 when it was being sold for $700 earlier?

Well, there are two reasons for this:

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What Events Should You Buy Tickets For?

When you are buying tickets for reselling, you have to be very strategic about the tickets you choose. For instance, there is no point in purchasing tickets for an event that is unlikely to sell out.

Here are some things to consider when you buy tickets in bulk:

Artist’s Popularity

Is the artist performing at the concert extremely popular? For example, if Beyoncé is performing, you know the tickets will sell out quickly and anyone who missed out will clamor to buy tickets at nearly any price.

Ticket Type

Some tickets are better than others because they might be closer to the stage or have VIP provisions. Although it is hard to buy these tickets as a reseller, you can earn a significant sum by selling them since they often appeal to more devoted fans who are willing to spend more to be closer to the artists they love.

Location

Another thing to keep in mind is the city or region in which the concert is happening. Is it a metropolitan area or a small town? Do people in that area have disposable income? What is the venue?

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Keep in mind that concerts taking place in popular venues are attended by more people. So, their tickets are in higher demand.

Time

Weekend events generally tend to be more popular than concerts held during the week. Try buying tickets for weekend concerts because people are more likely to have a day off and want to go out.

How To Sell Concert Tickets

The first step of selling concert tickets is to find places to sell them. You can always sell concert tickets on Craigslist and eBay, but here are some websites dedicated explicitly to ticket buying and selling.

StubHub

Stubhub is the most popular place to resell concert tickets. You can list your tickets on the website for free. However, StubHub charges a commission fee slightly higher than other resale options when you do sell a ticket.

Despite that, StubHub is a great option since it gets a ton of visitors. Here’s how to sell concert tickets on StubHub:

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VividSeats

VividSeats is a ticket broker that charges a higher fee but also has very high sales traffic. Make sure you price your tickets accordingly. Follow these steps to sell concert tickets on the website:

SeatGeek

You can also sell concert tickets on SeatGeek. The process is explained below:

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Risks Involved in Ticket Reselling

Ticket reselling can be lucrative if you are observant and do it right. But there are some risks you should be wary of.

Firstly, a concert might not get as much hype as you had anticipated. It could be due to the poor PR from the artist’s team or harsh weather conditions. In that case, the tickets will not sell quickly, and your liquid funds will be tied up in worthless tickets.

Secondly, some buyers are fraudsters and might say they did not receive the tickets to rip you off. Make sure you read the terms and conditions of any resale site before you make an account because not all websites have provisions for mediation.

Now that you know how to sell concert tickets, you can take your first steps into the $5 billion ticket resale market.

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