Event Ticketing

How To Resell Tickets Online: An Easy Guide

by
The Eventcube Team
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Don't let good tickets go to waste. Pass tickets down to eager fans and get your money back. In this expert guide, we talk about the best ways to securely resell tickets online if you have extra tickets or are unable to attend your booked event.

Do you have extra or unwanted tickets? Perhaps, you have tickets to an event you later found out you can't attend. Letting that ticket sit in your bag, at least without cashing it out would be a waste. Most events don't offer refunds! What do you do now?

Reselling tickets is the route most experts would suggest. Money back is the prime motivator, but event organizers wouldn't tell you they also benefit from ticket resale through high attendee turnout. With events, more is always merrier.

In this blog, we'll let you know the secret and best practices in ensuring a safe and successful ticket resale. From understanding what ticket resale is to avoiding scams and maximizing profits, we'll cover everything you need to know. So, let's dive in!

What are resale tickets?

Ticket resale is when you sell event tickets to others, typically at a price higher or lower than face value. It allows individuals to buy or sell tickets after the primary sale has ended, giving eager fans a second chance at securing entry to their favorite acts and shows. Resale of tickets is either done in person between friends and family or through ticket reselling platforms that connect ticket sellers with potential buyers. The latter is quicker and more convenient–your best bet if you're desperate to get your money back.

What are the best listing platforms to resell tickets?

In the last two decades, ticket reselling has transformed from corner street scalpers to sophisticated online platforms. Whether you're looking to offload tickets for a sold-out concert or a local community event, choosing the right platform is crucial for a smooth and profitable transaction.

Let’s take a look at the best platforms for reselling tickets.

For larger, high-demand events

1. Ticketmaster

With its official "Verified Resale Ticket" feature, Ticketmaster ensures that the tickets sold are legitimate, giving sellers and buyers peace of mind.

2. StubHub

StubHub, one of the world's largest ticket marketplaces, offers vast exposure, ensuring your tickets have a higher chance of being seen and purchased.

3. SeatGeek

With its Deal Score system, SeatGeek provides a clear visual cue of ticket value, helping sellers price competitively and buyers find the best deals.

For smaller or more localized events

4. TicketNetwork

Although lesser-known than giants like StubHub, TicketNetwork provides a dedicated platform for those wanting to resell tickets to niche events or less mainstream performances, making it easier to find the right audience.

5. Vivid Seats

Vivid Seats stands out with its customer service and guarantee, ensuring that even for smaller events, both buyers and sellers have a safe and reliable experience.

Traditional (DIY) ways to sell tickets online

Ticket scalpers and brokers operate at a high level. But what about those who innocently want to sell tickets because they can't attend their event? Whether it was health concerns, scheduling conflicts, or emergencies in the way of a good time, small-scale resellers want their money back.

DIY ticket reselling methods are the go-to for regular folk. These include tapping into your friend and family network and leveraging social media channels like Facebook and Twitter to find the ideal buyer. The process is simple. Interested customers leave a comment or send a direct message, and payments are settled via direct bank transfer. Niche Facebook groups of fanbases, events, and vast online communities like Reddit are also gold mines for hot leads eager to buy from fellow members.

The beauty of DIY is that it often feels more personalized and direct. But remember, while this method might provide flexibility in pricing, it also comes with risks. Without the safeguards of an official platform, you'll have to be vigilant against potential scams. Always prioritize safety and authenticity in your transactions.

Ticket brokering vs ticket scalping

Reselling tickets comes in many names. Authorized transactions that follow the conventions of fair trade are referred to as ticket brokering. Meanwhile, underhanded methods of hoarding and reselling tickets at steep prices are commonly known as ticket scalping.

While scalping is to brokering with its bulk ticket purchases, the resemblance stops there. Scalpers use automated bots, to snatch tickets at a speed that regular buyers can't match. These tickets are then resold at a high markup, leaving many enthusiastic fans ticketless. Such practice tarnishes an event's reputation and results in low attendance– a scenario no event organizer desires.

Legality of ticket scalping

Ticket scalping isn't illegal in the UK, but the government plans to change this. In the United States, it's prohibited in 15 states, meaning the trade is prevalent enough to attract scams and demand government sanctions. Ticket resale is prone to fraud, counterfeiting, and identity theft. Getting caught scalping will land you a hefty fine or even jail time for up to a year.

Clearly, secure ticket resale isn't something to take lightly. If you do not have the capital to be a licensed ticket broker and resell tickets within controlled price ranges, then ticket reselling platforms and small-time resale methods are your best bets.

Steps to Resell Tickets Online Safely

Now, let's explore the steps you can take to resell tickets safely and successfully. By following these guidelines, you can minimize risks and maximize your chances of a smooth resale transaction.

To begin, identify resale opportunities by assessing your ticket inventory. Determine if you have extra tickets, unwanted tickets, or tickets for events you are unable to attend. These tickets can serve as potential resale assets.

Next, consider the factors that contribute to resale demand

  • Location. Events in metropolitan and tourist destinations are in high demand.
  • Date. Tickets sold "last minute" or closer to the event date are seen as limited-time, therefore, scarce and more valuable.
  • Performer popularity. Trending artists, household names, and musical icons will surely attract many buyers.

Best Practices for Reselling Tickets

When reselling tickets, these best practices can help ensure a smooth and secure transaction:

For users of ticket resale sites

  • Set a competitive sale price to attract buyers while maximizing your profit margin. Caution: do not go overboard.
  • Accept payment methods that offer fraud protection, such as credit cards or secure digital wallets.
  • Verify the authenticity of tickets before completing the transaction to avoid potential issues.
  • Communicate clearly and promptly with buyers, providing all necessary information and addressing their concerns.
  • Adhere to the guidelines of the ticket resale platform you're using to maintain a positive seller reputation.

For resellers selling tickets independently

  • Always ask for proof of transaction before trading your tickets.
  • When possible, perform the good exchange in person at a public place. Bring a friend for that added layer of protection.

Ticket resale platforms explained

Ticket resale sites have revolutionized how tickets are bought and sold in the secondary market. These online platforms provide a convenient marketplace for ticket sellers and buyers, making reselling tickets more accessible.

It's essential to select a platform that aligns with your needs. Buyers have gotten smarter with time. They scour multiple sites in search of the best deal. Some aggregators even search multiple resale sites simultaneously. While this means your tickets will likely gain visibility, you also have fierce competition.

Prices on resale platforms can fluctuate, too. Sometimes, they exceed the ticket's face value, but other times they could be a steal. It all hinges on the specific event and market dynamics.

So, how do you succeed in this big bad resale world?

Evaluating ticket resale site and reseller pricing

Looking to recoup your investment or even make a tidy profit from ticket resale? Be sure to scrutinize your chosen platform's service fee structures, features, and payment methods.

  • Payout methods – Common payment methods include bank transfers, credit cards, e-wallets, and pay-later options.
  • Payout timing – This can vary based on the payment method, but a transparent platform should offer clear guidelines.
  • Service Fees – Reseller fees are crucial – they can range from a negligible 0% to a substantial 15%. Always factor these in when setting your ticket price. Compare the listing fees and seller commission rates per platform, as these can vary significantly.
  • User Experience: Look for platforms that provide an intuitive and user-friendly interface, making listing and managing tickets easy.
  • Security Measures: Choose resale sites prioritizing buyer and seller protection, offering secure payment methods and fraud prevention measures.

How to Avoid Scams While Reselling Tickets

While ticket resale offers great opportunities, being cautious of scams is essential. With card payments being the norm in online purchases, protecting yourself and your buyers from fraudulent activities should be a priority as a ticket reseller.

Tips to Detect Scams

To protect yourself from ticket fraud or scams, keep the following tips in mind:

  • Be wary of buyers who request unusual payment methods or attempt to evade standard ticket resale procedures.
  • Look for communication inconsistencies or red flags that may indicate a scam or fraudulent activity.
  • Beware of offers that seem too good to be true, as scammers often use enticing deals to lure unsuspecting resellers.
  • Utilize secure payment gateways and escrow services to ensure a safe transaction where payment is held until tickets are verified.
  • Educate yourself on common fraud schemes in the ticket resale industry to better detect and avoid them.
  • Stay alert and informed; you can significantly reduce the risk of falling victim to ticket resale scams.

Ways to Protect Yourself from Fraud

To further protect yourself from fraud, consider implementing the following measures:

  • Safeguard your personal and financial information, including bank account details, when engaging in ticket resale transactions.
  • Use ticket resale platforms that prioritize data security and offer buyer and seller protection.
  • Avoid sharing sensitive details, such as ticket barcodes, until payment is confirmed to prevent unauthorized use or duplication.
  • Keep records of all communications and transactions, including email exchanges and payment receipts, for future reference and evidence if needed.

Maximizing Profit from Ticket Reselling

When reselling, it's natural to want to maximize your profit potential. You can employ various strategies to increase the resale value of your tickets.

Strategies to increase resale value

To increase the resale value of your tickets, consider the following strategies:

  • Utilize digital advertising and promotion to reach a broader audience and generate demand for your tickets.
  • Adhere to pricing strategies that account for supply and demand dynamics, adjusting ticket prices based on market trends and event popularity.
  • Offer bundle deals, such as discounted ticket packages or additional perks, to attract more buyers and increase ticket resale appeal.
  • Leverage social media platforms to showcase ticket availability, create buzz, and engage with potential buyers.
  • Understanding buyer demand and pricing dynamics is crucial for success in ticket resale. Be ahead of the curve by analyzing market trends and considering factors influencing ticket prices.

What if my tickets don't sell?

In ticket resale, some tickets inevitably remain unsold. However, there are several approaches you can take to address this situation and maximize your chances of selling those tickets.

  • Lower the ticket prices to attract potential buyers, especially as the event date approaches.
  • Run targeted promotions or advertising campaigns to increase ticket visibility and generate interest.
  • Explore cross-promotion opportunities with related events or complementary experiences to attract more buyers.
  • Enhance your ticket descriptions, emphasizing unique selling points to capture buyers' attention and interest.

Remember that reselling tickets can be unpredictable, and there may be instances where tickets do not sell. Stay proactive, adaptable, and creative to increase the likelihood of successful ticket resale.

Frequently Asked Questions

  1. How can I ensure that my ticket resale transaction is safe and legitimate? Safeguard your ticket resale by using trusted platforms like StubHub or Ticketmaster. Validate ticket authenticity beforehand. Steer clear of dubious sellers. Confirm compliance with event and issuer terms for a secure transaction.
  2. How can I protect my personal information when reselling tickets online? To safeguard your data while reselling tickets online, choose a trusted resale platform with robust data security measures. Refrain from disclosing sensitive details such as SSN or bank info. Opt for secure payment channels and monitor accounts post-transaction.
  3. Are there any legal considerations when reselling tickets? Understanding the legality of reselling tickets is crucial. Always review the ticket's terms for resale restrictions, know the laws on scalping in your area, and be cautious of venue-specific regulations. Remember, selling fake tickets is illegal and can have serious repercussions.

Conclusion

In conclusion, understanding the nuances of ticket resale is essential for a successful and secure transaction. You can maximize profits by identifying legitimate resale opportunities, following best practices, and evaluating reputable ticket resale sites while avoiding scams. Strategies to increase resale value and deal with unsold tickets are also crucial. Remember to prioritize safety, legality, and buyer demand when engaging in ticket resale to ensure a smooth and profitable experience. For more insights on navigating the ticket resale landscape, redirect to our detailed guide on ticket reselling best practices.

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