September 14, 02012
Note: This article originally appreared in Forbes Magazine, and is reprinted here with the consent of the author.
Based on some feedback from my friends at StubHub, here is a snapshot of secondary ticket price trends for Week 2 of the NFL season. Secondary prices reported below reflect the price of tickets actually sold to date through StubHub.
HIGHEST-PRICED GAME…JETS @ STEELERS
The highest average secondary price is in Pittsburgh as the Steelers open their home schedule versus Mark Sanchez and the J-E-T-S Jets Jets Jets. The average is $256, with 28% of the buyers coming from Pennsylvania, 13% from New York, 8% from New Jersey, and 6% from Ohio. The highest priced ticket sold thus far was $988 in the lower bowl, with the lowest ticket sold being $88 in the upper bowl.
This is a sizable mark-up over the Steelers average face value price of $74.32, according to Team Marketing Report’s 2012 Fan Cost Index. With the largest average secondary ticket price, yet face ticket values below the league’s $78.38 average, this tells us something we all probably already knew…FAN AVIDITY levels in Pittsburgh are tremendous. And given the proximity of New York to Pittsburgh, and in light of their surprising offensive performance in Week 1 versus Buffalo, this helps raise demand which raises price.
US PRESSWIRETim Tebow's matchup with Pittsburgh is driving ticket prices sky high
LOWEST-PRICED GAME…TEXANS @ JAGUARS
The lowest average secondary price is in Jacksonville as the Jaguars battle the Houston Texans. With the average secondary price for this game ($59) being essentially indifferent from the cheapest average face value ticket in football ($59.54), this suggests that it will take some time for the new regime in Jacksonville to turn around the degree of fan apathy which has befallen the club in recent years.
Further reflecting this apathy is that (1) this game has only received approximately 12,000 views since last Sunday (compared to the 125,000 page views since Sunday for the upcoming Detroit @ San Francisco showdown), (2) the most expensive seat sold was at $457 in the Touchdown Club, and (3) seats in Section 441 were selling for $15.
To read the full article, click the following link: http://www.forbes.com/sites/prishe/2012/09/14/nfls-week-2-secondary-ticket-market-trends-steelers-hot-jaguars-not/
Patrick Rishe is the Director of Sportsimpacts and an Economics Professor at the George Herbert Walker School of Business at Webster University in St Louis, MO. He's conducted research at Super Bowls, Final Fours, All-Star Games, Ryder Cups, and numerous Division I NCAA Championship events. www.sportsimpacts.net www.webster.edu/business/depts/