A Record 47% of the Sellers Coming to TicketCity, since November, are Trying to Unload Expensive Taylor Swift Tickets
With Less Than 40 Days Until Taylor Swift Kicks Off Her Hugely Popular “Eras” Tour Many Fans are Selling Their Tickets to Recoup the High Prices They Paid
AUSTIN, TEXAS, USA, February 7, 2023 /EINPresswire.com/ -- Demand remains strong for tickets to the current Taylor Swift tour. The average ticket price is just over $952 per ticket, which is nearly 4x the average ticket price on her last tour ($256). The unexpected phenomena right now is the huge volume of sellers coming to TicketCity to try to sell their Taylor Swift tickets.
We offer a marketplace where fans can buy tickets, but also purchase tickets from fans and offer a consignment program. Since November 2022, the most popular tickets that fans have been offering to sell to us are Taylor Swift tickets. Since the Taylor Swift pre-sale date (November 15th) a record 47% of the overall seller leads we have received have been those fans wishing to sell their Taylor Swift tickets. That 47% is more than twice as many (% wise) sellers as we have received for any other concert tour.
Why are so many Taylor Swift fans trying to sell their tickets? The price of the tickets is the big factor in many of their decisions to try to sell. The average asking price they are seeking is $1,432 per ticket. That is a 3x higher asking price than we see for every other event. The prices on this tour started high due to the dynamic pricing used during the pre-sale which increased the “face value” of the tickets. Those high prices that fans paid during the initial pre-sale are the motivator for many.
We asked these Taylor Swift ticket sellers why they are offering their tickets for sale. The most common reason given was the tickets they purchased were too expensive. A handful responded that they bought tickets which cost more than they can afford to spend. Some of those fans bought the VIP ticket packages offered, like the “Karma is my boyfriend” package, which were originally sold for $750 or more per ticket. One said the package was the “only thing available, but way more” than they wanted to spend. They are now selling to try to buy cheaper tickets, although many of those VIP packages are not transferable which is inhibiting them from unloading the pricey tickets.
The second most common reason we got from sellers was they bought tickets in a different city than they wanted. Or that they bought a quantity that is either more or less than need. One fan said they just “grabbed” what was available to them during the on-sale in hopes of “figuring it out later”. Another potential seller said, “Ticketmaster crashed and placed two orders, so I have 6 tickets too many”. The luckiest fan who shared with us said they bought tickets, but then were given better tickets as a gift.
The Taylor Swift concerts in Tampa, Glendale and Houston are the most common locations for which sellers are offering their tickets. Those three cities account for 18% of the total Taylor Swift ticket offers we have received. The average face value on the tickets being offered for sale from Tampa and Glendale was $1,050. Over 70% of those selling tickets said they bought them from Ticketmaster during the pre-sale with another 8% stating they bought from Seatgeek. 6% said they bought off another ticket site and some did not disclose where they purchased their tickets.
Overall, the demand to buy Taylor Swift tickets has stayed strong as the average get-in price (with fees) for shows across the whole tour is over $550 per ticket. The most expensive market on the tour is Chicago where the average get-in ticket (with fees) is above $800 a ticket. The most expensive single show on the whole tour is Saturday, May 20th in Boston which costs over $1,050 per ticket to get-in at Gillette Stadium (Foxboro). The least expensive market on the tour is Phoenix (State Farm Stadium in Glendale) where on the second show the average get-in price (with fees) has dipped below $390 per ticket. Although the L.A. shows at So-Fi (5 total) now have get-in prices that have come down to around $400 per ticket.
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