A Comprehensive Guide to Making Money Reselling Tickets
Photo by Erik Mclean on Unsplash
Introduction
Ticket reselling, often associated with negative connotations and mistaken for illegal scalping, is a legal and ethical business opportunity when done right. This practice, also known as ticket brokering or touting, offers an opportunity to earn a profit by buying and selling event tickets. In this comprehensive guide, we'll explore the steps to sell concert tickets online, delve into the best ticketing platforms like StubHub, SeatGeek, and Vivid Seats, and discuss selling tickets at the venue as an option.
How to Sell Concert Tickets Online
Here are the steps to successfully sell your concert tickets online:
Step 1: Choose an Online Ticketing Platform or Resale Website
Consider platforms specializing in connecting ticket sellers with buyers, such as StubHub, SeatGeek, or Vivid Seats.
Step 2: Create an Account or Register on the Site
This step will allow you to list your tickets and manage your sales effectively.
Step 3: Post Your Ticket Listing
Provide accurate and detailed information about the event, ticket quantity, seat location, and any other relevant details.
Step 4: Research Comparable Listings to Set Competitive Prices
Research other listings for the same event to determine the market price and set your sale price competitively.
Step 5: Transfer Ownership to the Buyer
Ensure that all necessary ticket transfer procedures are followed according to the platform's guidelines.
Step 6: Remove Sold Listings
Prevent any confusion or additional inquiries about tickets that are no longer available by removing the listing for the sold tickets.
Note
When selling tickets on certain platforms, be aware that some websites may require you to provide tax information, as the ticket reselling industry is regulated in many regions. Always review the platform's terms and conditions to understand their specific tax reporting and compliance policies.
Market Research
To maximize your success as a ticket reseller, it is essential to conduct thorough market research. Tools like TicketGenius+ can greatly assist in your research efforts. TicketGenius+ is a comprehensive dashboard, database, and app that provides valuable insights for ticket resellers. It allows you to research events, venues, artists, and access in-depth analytics for events.
To learn more about the importance of market research and how TicketGenius+ can boost your ticket reselling business, check out our article on Researching Events with TicketGenius+.
Using Dedicated Ticketing Platforms
Platforms like Craigslist or eBay can be used to resell tickets, but dedicated ticketing platforms such as StubHub, SeatGeek, Vivid Seats, or Lysted are more specialized in connecting sellers and buyers.
For StubHub, SeatGeek, and Vivid Seats the process generally involves searching for the specific concert or event, listing your tickets with accurate details and competitive pricing, and then choosing your preferred delivery and payment methods.
On the other hand, Lysted, a platform that helps ticket resellers list their tickets across all major resale marketplaces, can simplify the process. This platform is designed for both professional and casual ticket resellers who want to save time and money on selling their tickets.
Selling Concert Tickets at the Venue
Selling concert tickets directly at the venue is another option, but it's essential to comply with local and state laws. If allowed, be flexible with your ticket pricing, arrive early to set up your operation, choose a visible and high-traffic location, and ensure secure ticket and payment exchanges.
Final Take
Despite reservations about buying tickets at higher prices, ticket reselling can be a profitable side hustle due to the high demand for popular concerts and events. Always adhere to local laws and provide a transparent and secure transaction process for both buyers and sellers.
FAQ
Q: What is the best way to sell concert tickets? A: Online ticketing platforms such as StubHub, SeatGeek, or Vivid Seats.
Q: Is reselling concert tickets illegal? A: No, ticket reselling is a legal trade that operates in compliance with local and federal laws. Resellers purchase tickets from licensed sellers and resell them at a higher price.
Q: Why won't Ticketmaster and AXS allow resale for some events? A: Ticketmaster and AXS do not allow fan-to-fan sales for some events. If the option to resell tickets is unavailable, it means that the event organizer has not authorized it. Additionally, it's worth noting that in some states, there are regulations that require tickets to be resellable, which may affect policies in those jurisdictions.
Q: Is it better to sell tickets on Ticketmaster or StubHub? A: It depends on your needs. Ticketmaster is easier for tickets purchased through their platform, while StubHub offers more flexibility. We recommend listing across a variety of marketplaces to increase your exposure.