I get asked this question quite often. I see you still have a bunch of concert, sports or theater tickets for tonight’s game, what happens if you don’t sell them?
Like most products and services there are many forms of distribution and tickets are no different. Most ticket sellers have a back up plan for what we call distressed inventory. The most logical thing to do if the event is approaching and tickets are still available is to lower the price and find a new market of buyers for your tickets. If that still does not work, most brokers will gift their tickets to their VIP customers or send their tickets to “the street”. When tickets are sent to the street, the owner of the tickets will generally split the proceeds from the sale of tickets with the street hustler. This is a great way for street hustlers or scalpers to make some extra money.
The ticket biz refers to the street as “the walk” since this is where we have customers walking up to the venue after parking their cars. There are lots of reasons why purchasing tickets on the walk should only be considered as a last resort for securing your premium tickets. Here are some tips on how to avoid getting ripped off when buying tickets “on the walk”.
1. Bring someone else with you to check the tickets before you hand over the money. Make sure the date, time and event name are correct. If you don’t have someone else, make sure you check the tickets carefully.
2. If it’s a night event, keep yourself in a well lit area, preferably near others.
3. Bring your own seating chart for the event. This will help avoid buying tickets that are obstructed or not where they are being advertised by the seller.
Again, the best approach if the event is approaching is to ask the seller if they would be will to accept “X” price for their tickets. In many cases we are willing or able to approach the holding broker for the tickets in question to see if they will come down on their price. Who know’s, today might just be your lucky day.
Enjoy the show!
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