Do ticket prices go down closer to an event?

  • Posted on: 11 Jul 2024
    Do ticket prices go down closer to an event?

  • Is There an Offer for Cheaper Tickets for the Near Upcoming Show?

    Many people have pondered whether asking for the ticket on the very day before or the day of the event will land them cheap tickets for the concert or the sports game or any other popular event. Of course it is a fact that is often taken for granted that the ticket prices reduce as the date of the occasion nears or as it is called steeply. This is not entirely true, that is, it is not this simple in the real world. Here is a typical timeline of how tickets price trend would appear as the dates for the event draw near.

    Initial On-Sale Rush

    As a general rule, the first time tickets are released or during major event releases, the tickets are normally priced at their peak. This is because there is always high demand for the best seats and very few businesses are available to meet this demand. Other event promoters like venues and ticket selling companies fully understand that fans will pay any price to get tickets before they run out. Prices can be above the face value, especially when observing the dynamic pricing strategies. In the process of this first round of these purchases, it will not be possible for the prices of any products to fall at all.

    The Secondary Market

    The second tier occurs when the first set of tickets is sold out in the market and people who want to attend the event have no option but to buy from people who have already purchased the tickets. These include applications where tickets are resold, or markets, such as the popular StubHub application. Prices of products in the secondary market may differ based on the demand of a certain product. This is mostly experienced in the less popular events where you have the potential of finding tickets going for even lower than their face value. However, if it is a very popular singer or band or a football team playing in the finals, then the prices that one is likely to find on the secondary market are usually way higher than the face value prices.

    Closer to the event date, ticket resellers may lower ticket prices in order to be able to at least cover some of the amount rather than losing the full amount of unsold tickets. However, for very popular events the prices often do not decrease and tend to rise frequently, as the game or show approaches. Illustration: The super-fans are willing to purchase the tickets at the last minute.

    Timing the Market

    However, it is important to note that purchasing tickets is best done immediately after the first available releases but before the secondhand market begins to gain momentum. Prices in this mid sales cycle are often more stable, meaning that they don’t fluctuate as much as they do in the early stages of the cycle. It turns into a game of chasing after the technical indicators, where as the event draws near, it becomes a game of trying to time the market. It is always possible to accidentally come across an amazing offer, yet the most popular tickets are sold rather fast. Mr Too long to pull the trigger, will either end up paying higher prices or missing out with a company completely.

    When Prices Do Drop

    It is crucial to note that less popular hot events are far from the norm of price movement and they often adhere to more generic price patterns. Finally, as ticket inventories remain unsold, any promoters and resellers who are holding some will lower their prices in an effort to make a sale. Big discounts can be presented in the last days or even hours before ordinary and left-untouched occasions. Minor league sports, arts, and some concerts are part of this buyer’s market. Still, as a rule, once an event enters headlines and hype, full-value sales take over.

    Other Factors

    There are also many other factors that affect the ticket prices of the last minute as well. Seasons, festive occasions, and weather conditions also dampen the last-minute traffic. High service charges also follow the same trend where they are added to the below face value tickets. And buyers, they are on the receiving end and prone to conmanship from dubious online vendors. They are also subject to change with relation to the team standings, artist releases, and shift in rotations in a given event season. However, some other teams and artists maintain a constant high price to sustain the brand image that they have created in the market.

    Basic Rules of Thumb

    As it can be seen, the concept and idea of the best event ticket purchasing strategy are not definitive.

    But these basic rules apply regarding prices over time:

    - The events that have high popularity reach their peak prices and sell out almost instantly.

    - Secondary market price is therefore variable, rising or falling depending on the level of traffic.

    - Easier events result in eventual price decreases on options that are not as popular.

    - Investors consider that market timing is unwise when the dates of events are near.

    - Some of the outside force that may affect coverage are weather conditions such as demand.

    - Fraud risk is high in final stages.

    It’s better to have more option on seats and dates that would give you a cheaper price rather than waiting for the big dip that you never know when it will happen. Use the room price alerts with certain events when demand is not justifiable on the basis of cost. Although people do get these terrific deals just in the nick of time from time to time, moderation is the word. Give more attention to the fact that you need to secure the good seats available at a reasonable price.