Most fans have a choice: pay the mortgage or go to the Super Bowl.
If you would like to purchase a last-minute ticket for Super Bowl XLIX, the cheapest tickets on the secondary-market website StubHub are going for just under $7,500.
Of all the tickets available on StubHub, only 19 are under the $9,000 threshold. The prices have climbed to the point where many fans can't dream of going to the game. However, there is enough demand to make the price work for the ticket brokers who are selling their seats.
For some brokers, the Super Bowl is huge business. The idea is to buy seats and list them without a specific designation of where the seat is until the Wednesday preceding the game, which is when StubHub demands an exact location. The hope is that fans will buy the seat and overpay, only knowing what section the ticket is in. With so much business available to be done, brokers are flooding into the market, per ESPN.
"Everyone in the business had seen that shorting had been the right move," said a broker who requested anonymity because his company is still short tickets. "For the last five years it had been that way. Everyone was sort of sketched out by Packers. That the ticket could cost a lot of money closer to the game. So the Seahawks win and everyone is undercutting each other just to be able to offer the lowest-price ticket available."
One company spent $200,000 on tickets for the Super Bowl and was offered $600,000, a nice tidy profit for a single game.
The Super Bowl was not always this expensive. Back in Jan. 1967 when the Green Bay Packers and Kansas City Chiefs met in the inaugural big game, the priciest ticket was $12, according to CBS. For Super Bowl XVIII in 1984, the top price was $60 and in 1994, it had climbed to $175. In 2003, for the Carolina Panthers and New England Patriots, the top ticket was $400.
Clearly, the rise of the secondary market has caused the prices to explode.
Source SBNation.com - All Posts http://ift.tt/1zmjhx4
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