One morning you woke up and wanted to reserve the tickets for the next concert you intended to see. Then you could be astonished to discover that, even if you purchase the tickets only one hour before the event opens, fantastic offers are available. The so-called "last minute" strategy may be extremely enticing: why not wait until the last day to reserve your tickets with the hope of finding them less expensive? But is this approach merely a mirage or does it make logic and provide good outcomes? Let me now go over the likely benefits and drawbacks of waiting until the very last minute to get musical tickets.
Benefits and Risks of buying tickets at the last minute
However, there are certain situations where purchasing a ticket one hour before can ensure that you get one even at a cheaper price. Here are the main potential upsides: Here are the main potential upsides:
Excess Inventory Gets Discounted: Of course, people who run halls and people who sell tickets want to resell all tickets for every show, so if a concert hall still has many tickets left before the start of the show, they will drop the ticket price significantly just to attract as many people as possible. Another self-adjustment feature of dynamic pricing algorithms is that they consider the time to go and ticket inventory while using historical data to reduce the price if ticket sales stagnate near the event date.
Third Party Sellers Lower Prices: Companies like StubHub and Vivid Seats do not purchase and sell tickets in bulk but rather offer an auction of tickets listed by resellers. Some of the users may get worried as the show approaches and rather than be stuck holding an undesirable ticket, they would want to sell it at a cheaper price.
Promoters Run Last Minute Deals: Some event promoters will use social media to post last-minute offers, which trigger people to buy more tickets. They may for instance, state that they have tickets for sale at a cheaper price or other incentives aimed at creating public interest right before the curtains.
When Purchase of Concert Tickets at the Last Minute is Not Cheaper
Although getting a last-minute bargain is never a bad idea, it is not a sure way to get a bargain. Here are some reasons why concert tickets often remain full price right up until the music starts: Here are some reasons why concert tickets often remain full price right up until the music starts:
High Demand: If a show has been sold out for months, or when the box office or other resellers still have a few tickets available, it will make little sense to cut prices. Of course, dedicated fans most probably bought cheap seats in the early days. Of course, life-long supporters will still be willing to spend the big bucks on high-sought items.
Dynamic Pricing Goes Both Ways: Oh, those are the algorithms that bring down the prices when the demand is not very high. Well, they also increase prices when demand is high so they can meet the demand at a higher price. The live performances by superstars and nostalgic performers, which always attract hitherto unknown fans, could cause last-minute ticket price increases.
Reseller Greed: Some ticket brokers engage in predatory pricing strategies, which include maintaining high margins rather than selling tickets at comparatively lower prices. They may choose to make no money at all and Wait for the one person willing to buy at a higher price at the eleventh hour rather than accept a lower price.
Logistical Constraints: Ink on paper tickets often need to be processed in small Lots for mail delivery or for pick up at the box office. Digital tickets also have to be ordered in advance and can only be delivered to the ticket holder’s email address or a digital application on their mobile device. So the tickets could already be sold and cannot be repriced before the show starts.
Now that you know how to find good ticket deals, here are some tips you can use when searching for last-minute ticket deals:
If you do decide to roll the dice and try procuring budget concert seats at the eleventh hour, here are some tips that could increase your odds of scoring a bargain: If you do decide to roll the dice and try procuring budget concert seats at the eleventh hour, here are some tips that could increase your odds of scoring a bargain:
Be Flexible: Remember, do not concentrate only on one part of the car or a specific type of seat. The saying goes that if you’re offered a seat that seems like it’s the best despite being located at the back of the hall, take it. Some studies claim some view is better than no view.
Watch Social Media Closely: As stated earlier, last-minute promotions may involve sharing on social media platforms such as Facebook, Twitter, Instagram stories, and email lists. These should have notifications on them so that you are not left out.
Use Multiple Devices: To get a first glimpse of your competition and to compare primary and secondary ticket markets, one should search both a computer and a smartphone. In price comparisons, it is common to find prices differing between platforms.
Prepare Payment: So that, during the time of the purchase of anything, you don’t have to input your credit card or other payment details again and again. High-demand coupons may disappear from your cart before the purchase process is completed.
Broaden Beyond the Box Office: Do not neglect more unconventional ways, such as checking out fan forums, Craigslist, or Facebook event pages. It is always advisable to keep an eye and an ear on the possibility of an additional fan selling more tickets.
Purchasing tickets under arm’s length just before the event starts can only be considered rather reckless. But for the random festival head, who does not want to spend a lot of money on that experience, it can once in a while turn out quite rewarding. Still, as long as you don’t expect anything out of the ordinary, keep an eye on the changes in the price and pray to the ticket gods! With this kind of element of surprise and good fortune, you can probably get the most incredible last-minute deal.
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