The other primary option for selling tickets is Craigslist. It is an amazing place for buyers and sellers to meet, but also a world fraught with potential scams and frustrations. I can’t possibly get into all of the details of buying and selling on Craigslist here, but I’ll pass along a few key details. Of course, the biggest benefit of selling via Craigslist is that there are no fees. The downside is that you must interact with people. And those people are always looking for a deal and usually horrible at communicating.
If you don't want to put in the leg work, you can let the deals come to you. Condé Nast Traveler shares many of the best flight deals on social media, but for those even more obsessed, it's hard to beat the convenience of flight deal blogs like Scott's Cheap Flights, Airfarewatchdog, SecretFlying, and TheFlightDeal, which are constantly posting deals from around the world. Follow them on social media or sign up for their newsletters.
So there’s the two ways of doing it, one, a market research type, which we discuss on the Amazon by varying prices. Or second, I feel that the front line really has a lot of intuition on what customers are willing to pay. And that front line has a lot of market research that they can share with the people who set prices to help set the right price.
When I was growing up I never thought to myself, “One day I will be a ticket broker.” Heck, I didn’t even know what a ticket broker was, but I did know what a ticket (street) scalper was and I did not want to do that for a living. With the advent of the Internet the whole world of the secondary ticket market was turned upside down. Now, if you needed tickets to a sold out event, then you did not have to buy them from a street scalper. If you had tickets for an event that you could not attend, then you could now sell them on this amazing new site called eBay.
And the second thing that you have to do, and I haven’t seen anyone discuss this, is that for low demand events, you have to have a way to let consumers know that, gee, we’ve lowered our prices. So if I’m interested in going to a rock concert, I’m not going to go to the website 10 or 12 times to see what the prices is. But if I know, much like on Broadway, that the day of, that they lower prices for some Broadway shows, there has to be an event that consumers will know, oh, maybe I should go back and check and see what the price is. So those are the two ways to think about dynamic pricing when demand is high or demand is lower than expected.
It’s rarer to find cheap last-minute flights with non-charter airlines. With those airlines the best time to book is around 6 to 12 weeks in advance – which is based on statistics garnered from tracking all flights. However, it varies heavily by airline, route and season, making it difficult to predict these. It’s all based on supply and demand, so if a certain route has a lot of demand this year it won’t fall in price.
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I agree that ticket reselling is probably not the most efficient form of MS. But it can be a profitable reselling endeavor, not unlike other reselling approaches. As with any business venture or MS strategy, clearly one needs to become educated and decide what works best for them. And as Shawn always advocates on this blog, start small. If it works for you, do more. If it doesn’t, stop.
No matter how good it sounds, you should never book the first fare you see. Start your search by checking a few of the major online travel providers such as Travelocity, TripAdvisor Flights or Kayak. SmarterTravel’s sister site, Airfarewatchdog, is another good source of cheap airfare. Checking these sites will give you a preliminary idea of which airlines fly your particular itinerary, what the going rate is and which restrictions might apply. Armed with this information, you can head directly to the airline website to see if the same flights are any cheaper (some airlines guarantee to offer the lowest possible fares on their own websites). While you’re there, check to see if the airline is running any sales or promotions to your destination.
Our detailed how-to guide spells out how to find mistake fares easily on your own. Basically, AirFare Watchdog and Secret Flying are great resources to stalk for finding mistake and sale pricing as they conglomerate slashed ticket rates all in one spot. Another great approach is to search for flights for an entire month using Skyscanner (Tip #3 in this article). This will allow you to easily spot a significantly reduced fare against what’s displayed that month, and has twice helped us stumble on error fares ourselves.
10. Don't do what I do: This DailyFinance reporter has dabbled in scalping. I thought I could be a dynasty. Instead I performed like the '62 Mets. A few things I learned in trying to conduct Internet commerce for baseball and college basketball: Don't buy singles. (Duh, right?) Study what buyers are actually paying instead of what fellow sellers are asking. Keep in mind the size of the venue, because some monster stadiums and arenas can create a surplus. And compute the purchase fees into your profit forecast. You'll fork over 15% to StubHub for selling and a $5 service charge plus $4.95 email delivery on the buying. That's a lot to overcome if you're working both ends.
A. The sweet spot is between 6 weeks and 3 months prior to your flight for domestic flights, 2 months to 4 months for Caribbean destinations, and 4 to 5 months for Europe. Any farther before and the airlines haven’t started to actively manage fares on the route. The pricing is still on auto-pilot, if you will. Any closer to your flight than these ranges and most cheap seats will be sold out. Within 2 or 3 weeks of a flight airlines assume you’re a business traveler (or a desperate one) that will pay whatever the fare is.
My husband and I are big concert goers and we are are always buying tickets. We have recently had our first child and are now realizing that we won’t always be able to make it to the concerts we buy tickets for. Because of this, we have been looking for concert ticket services, or other ways that we can re sell some of our tickets. I didn’t realize it was illegal to use certain third parties, I will have to keep doing research on what our best options will be.
For many of us, airfare can be a struggle, both in terms of cost and availability. But when it comes to planning your river cruise vacation, there are some simple research precautions you can take early on in the process to ensure you don’t end up on the wrong side of the airfare game. The first step starts with doing some research on your hometown airport.