While ticket scalping happens almost anywhere this is a venue where tickets can be sold, the laws surrounding the practice vary. About 20 states prohibit ticket resales or require broker licenses. For example, in Mississippi, there are only restrictions on state-owned property and college sporting events; Texas has no restrictions; and Massachusetts says residents cannot sell tickets for higher than face value, including fees plus $2 for tickets to events taking place in Massachusetts. However, ticket brokers licensed by the state are able to charge a fee to cover the expense of getting the ticket.
Before you get started, it’s critical that you secure at least $5-10k in startup capital to give you a nice cushion when you’re first learning the ropes. Rest assured, mistakes will be made and money will be lost at the very beginning. The last thing you need is to fall behind on your monthly bills just because you’re waiting on someone to snatch up tickets that you’ve listed. Instead, make sure you have ample cash reserves to fund your venture from Day 1.
This list wouldn't be complete without the mention of social media. The best way to stay on top of the latest in just about anything these days is social media. Find out what the best deals are right now in real time by following your preferred airlines on social media. Additionally, following #airfare on Twitter will provide you with the latest in flight deals from all of the major airlines and airfare sites.
Though scalpers hid in the shadows when reselling tickets was illegal, today they could be anybody—an individual with some spare tickets, a small-time speculator looking to make a windfall, or a professional ticket broker. Although not long ago there were limits placed on ticket markups, resellers are now largely free to sell tickets at whatever prices consumers might pay—which can be quite a lot. The average markup on tickets offered for sale on the secondary market was 49 percent above face value, though the margins sometimes exceeded 1,000 percent, the New York probe found.
Scalping indicators, while very helpful in identifying entry and exit points for your trades, can never replace the human factor in trading. You still have to carry out your trading duties and be aware of other events that may influence the market. However, the best indicators are designed to help traders make sense of price movements and simplify a trading strategy. Whether you’re a novice or seasoned trader, scalping requires a lot of your personal time, but using the right indicators can make trading a whole lot easier.
Good sites for planning your trip: Star Alliance Fare Planner for planning a trip on the largest airline alliance of them all. OneWorld Explorer isn’t quite as big as Star but has better coverage of South and Central America. AirTreks is a popular trip planner based in San Francisco. Trailfinders is good at tailoring budget trips to specific needs and destinations.
General question for anyone in the know about this. So I'm trying to get tix from StubHub (as usual) for opening night vs. DC but I'm not paying $27 a seat for my wife and I to sit at the very top. I guess I'm considering "doing business" with the gentlemen outside of the arena next to the police and the bucket drummers. This is my first time doing this.
In a world filled with more options than ever, it's your job as a consumer to stay informed. Luckily, the businesses that want you to choose them have made it easier than ever to stay up to date. Whether you have a trip coming up soon, or simply know that you'll be planning a vacation sometime next year, take some time to prepare. When the time comes, you'll have all the information you need to get the best deal.
The investigation, whose findings experts say are indicative of ticketing practices nationwide, revealed that 54 percent of tickets are reserved for the artists, production companies, venues, promoters, radio stations, and presale customers such as fan club members or people who carry a particular credit card. Schneiderman’s probe found that when the remaining tickets are finally released to the general public, profiteering can be rampant.
The latest research from the comparison site Momondo* found it's generally best to book 60 days ahead (last time it did the research it was 56) and that booking then can be up to 30% cheaper than booking on the day of departure. The last cheap booking date varies by destination, though, so you can use Momondo's 'Flight Insight' tab on many routes to see the data for it (see Flight Insight for info).
The last tickets I had to sell were Dave Chappelle in NYC. I said to myself, “get rid of these and start acting like an adult and find a real job.” Low and behold these tickets were hot, I made some good money, and I was hooked! I started buying and selling everything in site. All I had was $2,500 in my bank account and about a $2,000 limit on my credit card, so I had to find a way to buy tickets and continually sell them before my credit card payment deadline occured, for I was not paying interest, and not lose more than $2,500! Somehow I made this work, and I was literally doing this credit card dance for 2-3 years (with a higher credit limit). There were plenty of times that I bought tickets that were barely worth the paper they were printed on, but that is how I learned the business. Through trial and error. Over time I just made less errors.
My first ticket purchase (for resell) was four tickets to a show for the Eagles in Hershey, Pennsylvania. I had no idea why I picked this event to resell, and I had no idea what I was doing. I set up my first sale as an auction on eBay and lost about $25 on the first pair of tickets. Thinking this business was for the birds I put up the remaining pair of seats a few weeks later and ended up making about $50. Hmmm….maybe there was something to this. Next, I bought some tickets tickets for U2 in Detroit, thinking that any seats anywhere would make money because it was U2! I bought about 16 tickets at $90/each and had to sell them for $50! Ugh. I never thought I could lose money on a U2 concert, but that day I learned how important market size, day of the week, number of shows, supply of tickets, etc. were to the true market value of an event. After losing about $700 I was crushed and figured I would never make any real money selling tickets, so I had to start thinking about finding a 9-5 job.
Embrace Connections: Unless you’re lucky, chances are you’ll have at least one connection on your way to Europe or Asia, but there’s good news here too: Connecting flights are can be cheaper than direct flights, and in some cases, they work well with schedules that get you to your destination earlier. Connecting flights are also an excellent way to build up your frequent flier points, and those can come in handy down the road for upgrades to Business Class or entry into airline lounges at airports around the world.
To help, the CAA (Civil Aviation Authority) website has a useful airline charges comparison table which shows extra fees for a host of big airlines, as well as luggage allowances, seat selection charges and even whether a meal's included with your ticket. While you should always double-check these with the airline before you book, it's handy to see the real cost of your ticket so you can make a more accurate comparison.
When you find an airline with the best fares for your needs, go directly to that airline's website and compare costs. Quite often you'll be offered the same fare you got through an aggregator, and occasionally it may even be lower. The benefits of booking directly through the airline include easier changes and cancellations, avoidance of third-party booking fees, and the possibility of compensation (on some airlines) should fares drop further.
The first thing to know about finding a cheap flight is that there is no magic bullet or one secret ninja trick to doing so. There are a lot of myths online about how to find cheap flights. In fact, you’ve probably come across a ton of them on your search to find the best flight deal! They are all lies. They will lead you astray. Most websites hire terrible reporters who recycle common and outdated myths. Here are the most common that are 100% not true:
We’ve all experienced the tiresome, repeated searching when trying to book the cheapest possible flights to any given destination. With endless search engines and continually fluctuating prices, the approach to frugal flight booking is overwhelming. Here’s some key tips that will save you time, frustration and most importantly money when booking your next flight.
Day in, day out, the airfare researchers at Airfarewatchdog.com (www.airfarewatchdog.com) use every method possible to find the lowest fare on any given route. What we've discovered from our years of playing fare detective is that instead of getting easier, the rules of the game keep changing and consumers really need to do their homework or they'll overpay. But if you follow our ten rules of low fare search, you'll have a fighting chance.
Hello. Nice article. Lots of great tips. I am going to be flying into Orlando in February, 2/11-2/18/2017 and have some concerns in the flight cost. Right now spirit is the cheapest well under $200 but all of the other airlines are well over $200. We want to stay as close to $200 as possible but DO NOT want to fly spirit. Do you think that the other airlines will be dropped down at least closer to $200 mark within the next month or so?
After experiencing an economic setback during in the late 2000s, the live entertainment industry now looks stronger than it ever has before. Just last week, World Series ticket prices on StubHub and eBay soared to new heights, with some tickets fetching over $20,000 a pop. For an eye-popping example in the music industry, Adele’s world tour is rumored by some industry insiders to have grossed over $200 million.
Use Points: If you belong to frequent flier programs from airlines in the Star Alliance, Oneworld and Skyteam networks, you can use your frequent flier points to book tickets to Europe, provided you have enough. Don’t quite meet the minimum requirements? See if your chosen airline will let you upgrade to Business Class with the points you do have – you may be pleasantly surprised.
Let’s say you’re bumped from a flight, but the airline still manages to get you where you’re going within an hour of the original arrival time. You’ve got no cause to complain, really, other than just being a dick, and you’re not going to see any compensation. BUT, if you arrive between one and two hours past your original arrival time on a domestic flight (or between one and four hours for international), they owe you compensation of 200% of the one-way fare to your destination -- up to a maximum of $675. And for domestic flights arriving more than two hours later, you are entitled to 400% of your one-way fare -- the US Department of Transportation (DOT) requires they compensate you in cash, up to $1,350.