A secondary ticket market correction

Roberts refuses to help as MLB digs into A-Rod
Marte placed on DL with a sore shoulder

A funny thing happened on the way to the Stadium this weekend: The secondary ticket market for Yankee tickets has crashed. According to the AP, Yankee fans scouring the Internet for tickets can find them at prices well below face value. In fact, some seats are selling for as little as 15 cents on the dollar. “We’re seeing an unprecedented number of season-ticket holders selling. The market has been flooded. It is a buyer’s market for baseball fans,” Mike Janes, CEO of FanSnap.com, a ticket-market search engine, said.

Right now, it’s tough to say why this turnabout has occurred. It may have something to do with the obscene ticket prices at the new Yankee Stadium, and it may have come about as a result of the Yanks’ plans to give free tickets away to folks in the Legends Suites. Season-ticket holders simply want a return on some part of their gaudy investments. Perhaps the bad weather and bad economy are contributing as well. No matter the cause, now is a great time to find cheap Yankee tickets on the secondary market. Once the dust settles around this ticket pricing issue, I hope someone writes the definitive economic account of the Yanks’ intriguing experiment in ticket pricing known as the new Yankee Stadium.

Roberts refuses to help as MLB digs into A-Rod
Marte placed on DL with a sore shoulder
  • http://www.theyankeeuniverse.com/ Artist formerly known as ‘The’ Steve

    Tell me about it. I can’t get face value for Tuesday’s Red Sox game.

    • http://www.bronxbaseballdaily.com Bronx Baseball Daily

      I’ve been taking advantage of it all season. If the rain holds out I’ll be going to today’s game for $10. Not bad at all.

  • max

    if you check stub hub the day before a game or the day of a game, you can get a decent ticket. friday evening i purchased tickets for section 228. they are face value of $60 seats and I bought two tickets at $25 each. i checked for today’s game last night and you cant get two tickets for $20 each for section 230. not a bad deal.

    • http://www.theyankeeuniverse.com/ Artist formerly known as ‘The’ Steve

      Demand is always down in April and May. But this year the number of sellers went way up and the economy went way down. We’ll see what happens when the weather warms up and hopefully the Yanks are in a heated pennant race.

      • http://pinstripealley.com Edwantsacracker

        The team also pressured season ticket holders into buying larger packages. For example the team told my family that the Sunday Game package wasn’t available and if we wanted tickets we needed to take a 17 game pack. We figured we could go to the games we wanted and sell the rest. So did everyone else.

  • http://mvn.com/pendingpinstripes Greg F.

    Yeah I’m loving it. About to go to my third game of the series and haven’t paid more than $10 for a ticket from stubhub.

  • Alex S

    hows the ebay market?

  • 27 this year

    by the way, Marte hasn’t pitched because he hurt his shoulder in Boston so Anthony Claggett has been called up as per PeteAbe

  • Derby

    Claggett?? Well if he does get into a game, maybe he can lower his ERA. Cause what is it right now, like a 54.00?

  • http://www.onedayonejob.com/ Willy

    I’m a Yankees fan in Chicago (with a Cubs fan for a girlfriend). We’re seeing the same thing with Cubs tickets. It’s easy to buy tickets (except for bleachers – it’s a total scene here) under face value on StubHub.

  • LiveFromNewYork

    I’m running about even on my tickets. I’ve sold some slightly above face and some slightly below. I never bought the package as an investment and I usually barely break even on the ones I sell (meaning I never fully recoup my investment because I pay for the ones I give to family and friends) but I am going to be unhappy if I take a bath.

  • yankees=warriors

    Too bad I’m not in NY right now!!!

  • http://www.facebook.com/profile.php?id=15305165&ref=profile Doug

    Whoa, that is a great idea for the senior thesis I’ll have to do eventually for my econ major.

  • http://newstadiuminsider.blogspot.com Ross

    I was predicting this for months. It finally happened. Still, my father sold a pair of tickets in the Grandstand for the Boston game tomorrow night for $110 and the face value is $40. Premium games are fine.

    • Yankeegirl49

      My friend sold 2 bleacher seats ($12 face) for tomorrows game for $150. Nice profit there, but again, thats a premium game. The few other games she can’t get to she sells for face.

  • Ian

    I believe this phenomenon is happening because of how the Yankees handled their stadium relocation program. A lot of partial plans were downgraded from Weekend to Weekday or to a lesser seating section.

    I had a Sunday plan in the Tier Reserves the past five seasons, but was assigned a Weekday plan for 2009. I have a friend who had a Friday plan in the tier and was assigned a Friday plan in the bleachers.

    Why? Because the Yankees priority was full season tickets. The Yankees allowed former partial plan holders to upgrade to full season BEFORE incumbent partial holders could get new partial plans.

    Who are these new season ticket holders? Let’s categorize them:
    1. Longtime fans who want to go to every game.
    2. Longtime fans who feared that if they didn’t upgrade to the full season, they would miss out games they went to in the past (The Sunday plan previously included Opening Day. Not anymore. It used to also have Old Timers Day, which was on a Saturday, but its now a Sunday game). They could then sell their unused tickets on StubHub to the highest bidder to make up the additional cost.
    3. Scalpers, ticket brokers, and those who are only in it to flip for profit.

    If the Yankees had only assigned partial plans before allowing upgrades to full season, the tickets would be in the hands of more people who actually wanted tickets to attend games, and not to sell them on StubHub.

    However, the Yankees probably don’t care. Those tickets have been sold, and can’t be returned. Additionally, StubHub is the official ticket reseller of the Yankees (and every other MLB club except the Red Sox). The Yankees get a commission for every ticket resold on Stubhub. Therefore, when a $20 Grandstand ticket sells on StubHub for $10, the total revenue collected is $30. If that ticket was in the hands of a fan who actually wanted to go to the game in the first place, the Yankees would not have collected that extra money.

    The entire Grandstand and Bleachers (every ticket with a game day face value of $30 or less) have been sold out for the 2009 season. Those who bought season tickets to resell are losing money. Reselling the premium games at a premium isn’t going to get them to break even.

    My prediction is the way this market to adjust is for a big percentage of new 2009 full season ticket holders not to renew in 2010.

  • http://www.teamnerdrage.com leokitty

    Well when a bunch of people upgrade to full season out of fear when they only want to go to Saturday or Sunday games/etc, it’s not surprising a huge secondary market like that comes into being.

    What I think is interesting is that the below face prices extend to the Grandstand.

  • Bill N.

    I wish I could find cheaper tickets. I can’t find anything that is atleast 50 bucks over face value. If anyone has tickets for the Phils/Yanks game on the 23rd I would be willing to buy them.

  • Beamish

    It is all about Opening Day. People like me who had the Plan C (Sundays)for a dozen years were used to getting Opening Day in the package, now suddenly this year the only way to guarantee an Opening Day seat was to buy the 81- or 41-game package. My buddy and I seriously considered it – but ultimately did not want to be stuck trying to sell 30 games worth of tickets.

    Apparently too many fools placed far too much emphasis on Opening Day and now they are stuck trying to unload seats into a crashed economic market.

    I enjoyed just a bit of schadenfreude watching the mess that was the Opening Day game and realizing how many people had effectively spent $2000 for Grandstand seats (or more for Main or Field seats) just to be there for what was a disastrous game.

  • Ico-Jones

    People have short memories. Tickets for games before Memorial Day are always relatively plentiful. All the factors mentioned above may have exacerbated it a bit, but I won’t believe there is a real issue until weekend games in June and July are below face.

  • Jesse

    So let me see if I’ve got this straight: People buy into this “I won’t be able to get tickets” panic, and buy full-season packages they don’t actually want, which forces me out of the package I wanted and into a smaller package with crappy seats at the top of the granstand. And now they’re having trouble selling the tickets I actually wanted to buy in a package?

    Am I now supposed to feel bad that they don’t know the first thing about being a de facto ticket broker, which means I’m now getting their tickets for below face value to supplement my plan?

    ‘Cause I really don’t.

  • MoveBack

    This is nothing new. What is new is , now that StubHub is official, people trust it more and its got exposure. Last year,the “Final Season” that everyone compares this year to, I got tier reserves reguarly for under $10. Now, you won’t get the Sox or Mets or weekends in July-August but if you want to see a game cheap, you were able to.

    Pre-stubhub this was the case as well. The difference was you had to go to the Stadium. On a night like this in May, I would just hang around the ticket booths at Gate 4, and always someone walking in with extras would sell be a couple for $10 or $20. A couple times people would just hand me seats on sold out $5 ticket nights because friends didn;t show up. You just had to look like a fan, not a scalper (I wasn’t I went to the games)

    Of course, pre internet the other trick was to have a beer in the bowling alley, wait until the second inning, and you hasd scalpers unloading seats left and right.