However, past trends do tell us a little about when the right time to book a flight is. The website CheapAir.com completed a study that determined 47 days in advance was the cheapest time to book domestic fares. And as for international fares, they concluded that the time frames varied wildly based on where you are flying to with the number of days ranging from 46 to 318 days in advance.
Be sure of your dates before you book. Changing or canceling your ticket can be very expensive, as airlines can be aggressive about change fees, with most charging around $250 per ticket per change. Unexpected circumstances can happen to anyone, so understand your ticket's change policies before you buy. (While nonrefundable tickets are cheaper and the most restrictive, even certain types of business and first-class tickets have penalties for changes.)
This is the hardest part in scalping but also applies to all styles of trading. Do not over trade. Many traders that start off and maybe never make it, is because they overtrade in the beginning and they start making a lot of little losses to soon find their account so low or in the red that they cannot be impartial in their trading. Therefore it is essential that from the beginning you take control of your trading urges. When you start off scalping you can also play it safe, that is, even if you miss a couple of trades do not feel you are missing out, but see it as market experience. You are currently learning. The market won’t go anywhere.
If you’re traveling within the United States, flying on a Tuesday, Wednesday or Saturday will get you the lowest airfare because there are fewer fliers on these days, Mr. Seaney said. “You can save between 10 and 40 percent per ticket, if not more, compared to a Monday, Friday and Sunday, when air traffic is heavier,” he said. (Thursday falls between the two categories.)
RAFI MOHAMMED: Well, you know, we can’t tell all the secrets, but I’m happy to share some of the key secrets. And it really comes down to uncertainty, and how you deal with uncertainty. And it’s been my experience that the closer you get to an event, whether it’s a rock concert or a sporting event, you see prices go down. And so obviously, if you’re taking a significant other, or celebrating a very important event, or going out with clients, you really don’t want to be sweating it out until the last second and hoping that prices are going to go down.
It looks like both scalpers and ticket brokers are here to stay because neither show any signs of slowing down. About 30 percent of concert tickets are sold on the second hand market, according to USA Today, who says scalpers and ticket brokers take in more than $1.5 billion a year reselling concert tickets. So make educated decisions when dealing with scalpers and ticket brokers.
Determine whether a show will sell out. Especially if you're selling a ticket in person, you need to make relatively sure that there will be a demand for the upmarked tickets you're trying to sell. There is only a promise of demand if the event sells out. You can usually have a decent idea whether or not a show will sell out based on other shows that artist or team have put on. Look online to see if earlier events sold out.
But getting to your Yankees game analogy, when demand is low, and it’s lower than expected, what do you do? And there’s two key things. The first is that you’re getting people coming to your site, the existing demand coming to your site. And if demand is low, intuitively people might think to make all prices cheaper. But I think if people are coming to the site to buy a ticket, they’re interested, and I would focus on trying to upsell into higher-priced seats. So they’re interested. They wouldn’t normally sit in the best seats, but if you have an attractive price, you might be able to get more money out of people who have an interest, who have a demand.
The most popular and widely-respected resource on the business of ticket brokering is Ticket Broker Blueprint, written by professional ticket broker Brandon Baker. It is a complete step by step guide to becoming a professional ticket broker, and it has helped thousands of people get started in this industry. Although it was written in 2010, most of the important information you’ll need is just as applicable today as it was when it was first published.
Monitor price fluctuations.The lowest fare for a given flight changes an average of 71 times between the time the flight is announced and the day it departs, according to the CheapAir study. Each change (up or down) averages $33. Before holidays, prices can fluctuate wildly, says George Hobica, president of Airfarewatchdog.com. So set price alerts for your destination with several tracker websites. Sites like Airfarewatchdog and Kayak let you monitor flights by airline and will send text or email alerts when prices for your desired time frame drop.
SMTWTFS? The flexibility to travel on another day can result in dramatically lower fares. So next time you search on KAYAK, select the flexible dates option. You'll probably find that flying Saturday is cheaper (though not so much for international). Likewise, traveling mid-week (Tuesday or Wednesday) is usually cheaper than Monday or Thursday/Friday: consultants love to travel on Monday mornings and fly back Thursday (of course, they still bill you for Friday but that's another story).
Thankfully, there are plenty of ways to save money on flights and lodging that don’t involve eschewing them altogether—life hacks I didn’t even realize existed until I began reporting this story. Like, did you know you can download apps that will alert you the moment the price goes down on that flight you had your eye on? Or that hotels will often offer you better deals on rooms you’ve already booked if you find that room available for a cheaper price after the fact on some other site? The list goes on. And here it is:
Ticket Scalping, or so its called, is also done to a much greater degree by Credit Card companies. The purchase tickets to resell back to their existing card holders. So they are taking out enormous amounts of tickets from the general public, therefore increasing prices, and only limiting the events for people who do business with them. 43% of tickets are so called Scalped.
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.
I also sell tickets and this accounts for a portion of my self-employment income – I sold over $100,000 in tickets in 2014 and I’m way way small time. John is correct in assessing that this blog post is a terrible idea. The reason is because you’ll lose money on many, many, many events. Just saying “hey, this is a popular concert/show/sporting event” isn’t enough knowledge to know if you can turn a profit. There are a lot of other factors. For example, you may buy tickets to a concert at face value only to learn that people from a pre-sale or VIP program bought them for X% less. Good luck selling those on stubhub at a profit once they take their cut. Sporting events are seriously cutthroat, and it’s hard to make money unless you’re a season ticket holder. I paid $13,000 for my St. Louis Cardinals Season tickets. I might break even or take a small loss. I buy them to be able to give out some games as a promotion through my business and to have access to postseason tickets. You make all your money on the postseason, at least with the Cardinals. Even if you could turn a small profit from buying these season tickets regularly, you pay for them months before the season starts and you don’t get paid until you deliver the tickets for each game. Your money is tied up for months and months. You could use that money for other ‘angles’ and make more money overall due to faster turnover. I sell tickets because I enjoy it. And I’m being sincere and genuine when I say that if you’re just trying to earn points/miles, please stay far, far away unless you truly understand the real downside risk. I lose money on over 50% of the tickets I sell – that’s a true story. If you’re just dabbling, you’re hoping you’re going to pick the golden event and avoid the rest? That sounds like a terrible investment strategy to me.
Brilliant advice, although people should make sure if they are using multiple airlines ticketed separately that they have good travel insurance. Airlines ticketed separately have no obligation if, say, the first flight is delayed and you miss your second flight. I have also had issues with lost luggage before, when airline one booked it straight through when I was ticketed separately on to airline two: both point the finger at the other and you don’t get anywhere fast! Good insurance is a must and good practice anyway!
If it looks like the delay is going to cost you more than the airline is offering -- like if you had a non-refundable hotel reservation, or miss a private helicopter ride (look at you!) -- you’ve got 30 days to try and get as much money out of them as you can. But once you put a check into your bank account, you’ve essentially agreed to accept whatever you were offered.
Conor Boyland explains this concept in further detail: “What I usually do if I’m forced to buy a ticket on the street, is ask to see all of the tickets. check the numbercode (numbers above the barcode), if all of the numbers, or even a few pairs, match; they are fakes.” Also, know the the original cost of the ticket and be sure to check the one you’re buying to make sure it’s correct.
To find cheap flights, price trackers are the ultimate tool—just search once, and you can be done. Using services like Google Flights, Hopper, or Kayak, you can set an unlimited number of price alerts for countless destinations. You'd could set alerts and receive emails about every place you're considering for your next vacation, and if one of them miraculously drops below your price threshold, you'll be notified. Sometimes the dream destinations are cheaper than a flight one state over.
[…] Over time I have tried to cover just about every type of manufactured spending on this blog. I don’t advocate all methods for all people, however I do think it is good to diversify your knowledge so you can jump on the best deals. For that reason I have covered gift card reselling, traditional MS and PDX Deals Guy even wrote about ticket reselling. […]
At Texas A&M I was an ECON major, a sports nut, and gambling freak, so this ticket broker thing just about summed up every interest I had. My career did not begin at Texas A&M, though, but in New Jersey at Seton Hall University. I was in Grad School and I realized I was about 12 months away from having to find a real job. All throughout college I tried to get internships with various sports teams and I even worked for ABC Sports for a few years, but nothing fit. My ultimate career goal in life was to have my own businees but not have the type of business in which I had to work 100 hours a week.
Hello, i’m buying tickets for a sold twenty one pilots show in Tulsa. The tickets were all sold out on the site originally where you he the tickets from, but I found some other tickets on vivid seats and some other cites. I haven’t bought a ticket yet I’m planning to, it’s just I’m scared the tickets are fake and they won’t be able to let me on the show I really want to go.
We traveled on Air New Zealand from SFO to BNE and return from SYD, with premium economy space seats, outbound September and return October. Price was USD 3935 for 2 persons, purchased June. Now price per person for similar flight Sept 2016 seems to be 50% greater, USD 3,000. I would appreciate any comment you have as to this increase and later pricing. Thanks. David Anderson
Best time to buy: Tuesdays at 3 p.m. EST. If you don't find the discounts you're looking for in the early morning, a study by FareCompare.com says the best time to buy airline tickets and shop for travel (domestically) is on Tuesday at 3 p.m. EST. However, George Hobica, travel expert and journalist, argues that the best deals vary frequently, so there's not one specific day or time of the week to buy.