This article shows you exactly how to make money reselling tickets.
It also shows you where and what websites to use, as well as answers your most pressing questions about reselling tickets.
First things first, the ticket we are talking about in this article is the permit or commercial document that entitles the holder to enter a place or to participate in an event.
The use of tickets is not a new phenomenon. You must have used one of them to attend a live music show where your favorite artist perform.
Or you may have used a game ticket to watch your favorite football team play.
There are many types of tickets depending on where and when they are used.
There are tickets for live concerts, sporting activities, festivals, theaters, and music shows, etc.
Tickets reselling is now a trending phenomenon. People can now buy tickets for different events and resell them for profit.
You too can participate in this side hustle to make extra money.
If you start reselling tickets then you can start making extra money to achieve some level of financial freedom.
That said, this article provides details on how you can make money reselling tickets.
You will also find answers to the most frequently asked questions about the reselling of tickets.
What Does Reselling of Tickets Mean?
The reselling of tickets simply means buying tickets at a lower price and reselling them at a high price to make a profit.
Ticket reselling also means ticket brokering. It also means ticket touting.
You buy tickets from a licensed owner in bulk and resell them in the marketplace to interested buyers at an inflated price.
It can be a good business idea for women or even men who want to make extra money on the side.
In most cases, reselling is done online.
Ticket Reselling vs. Ticket Scalping
Ticket reselling is different from ticket scalping. Ticket reselling or ticket brokering is a legally recognized process. The individual or broker gets tickets from a licensed owner and resells them.
The broker complies with local, state or country laws regarding ticket reselling to achieve his aim.
Ticket scalping means the selling of tickets in the “black market”.
In other words, ticket scalping is considered illegal since the vendors illegally sell the tickets without authorization or without following legal procedures.
They do this for quick cash, especially at near the venue of the event.
Why You May Want to Resell Your Tickets
The reselling of tickets is different for different people. The reasons for reselling may include:
- If you have a ticket for a sold-out event but you can no longer attend the event, then you can resell the ticket.
- If you have a season-long ticket like in football or other sporting events, you may want to resell the tickets of the some of the games you cannot watch live.
- If you an extra ticket at hand because someone you bought it for can no longer attends the event, then you can resell it for profit.
- If you are interested in reselling tickets as a side hustle or money making hobby.
What Makes the Reselling of Tickets Profitable?
People who sell tickets do so for profit. You may think that because a ticket already has face value reselling at a high price would be impossible.
Well, the fact that one can resell a ticket at a higher price is a major attraction for this side hustle.
Reselling of tickets for profit could arise because of the following scenarios:
- When there is a last-minute rush to an event, some people make drastic decisions to buy tickets at a higher price, making fast money for the resellers.
- When the tickets are already sold out by the licensed agent or manager, people can buy tickets from any available reseller even at a higher cost.
How to Make a Profit as a Ticket Reseller?
There are tips you can apply to make a profit as a ticket reseller. The following tips should be followed to sell your tickets for profit.
- Research several tickets online and check out tickets that have a tendency of getting sold out. These types of tickets can sell out again.
- Buy your tickets early so you can buy at a discounted price. You will buy below the face value when you get discounted offers.
- Buy several tickets, hold then for a while and resell them at a higher price when the date of the event draws closer.
- Calculate the expenses you incur in the process of reselling your tickets. Keep them low to maximize your profit.
How Reselling of Tickets Actually Works?
Ticket reselling follows this process:
Buy Tickets for Reselling
You can start buying tickets to resell and can be done even on weekends.
There are options you may want to consider to buy tickets at cheap. Some options you should consider when buying tickets for reselling include:
- Check out websites where tickets are sold to buy tickets when they go on sale. If you buy earlier on these websites, you may get tickets for cheap, and you can sell them at a higher price later.
- Get presale tickets for some big events. Use your credit cards to get cash back or discounts from such offers.
- Buy fan club tickets. These are offered at some exclusive deals and discounted offers.
If you are a member of the club, then you may take advantage of the membership deals.
If you are not a member, you can still buy some fan club tickets at a cheap price. Of course, you must comply with the terms and conditions of the club.
Sell The Tickets
Now that you have bought tickets from your preferred option, you can now resell.
These days, there are many marketplaces where you can sell your tickets.
Tickets could be physical or electronic.
If you don’t want to sell to interested physical buyers, you can choose to sell to online buyers at the various marketplaces.
Yes, ticket selling can be done both physically and electronically, thanks to the Internet.
You can enter the ticket’s barcode and it would be delivered electronically to the buyer instantly.
You can use printed labels to send physical tickets when the buyer pays online through PayPal, check deposit, or any other payment option.
Where to Resell Tickets to Make Money?
The following are places where you can sell tickets online to make a profit.
SeatGeek is an online marketplace where you buy and sell tickets. Yes, this is the smart way to buy and resell tickets to thousands of live events, concerts, sports, music and entertainment events.
You can also use the SeatGeek app to buy or sell your e-tickets or physical tickets.
How to Sell Tickets at Seatgeek
The following steps should be followed to sell tickets at SeatGeek.
- Create an account and sign in to the website
- Visit the “My tickets” section on your dashboard to upload your tickets.
- Upload your tickets using the link. You can also edit or remove your listing any time before the tickets sell.
- Set your price. You can use the Deal Score-backed price recommendations to add or set the best price for your ticket.
- Click the “sell button”
- You get paid after Seat Geek has taken a seller commission
Talking about music, check out what musicians earn doing what they love:
- How Trey Songz Makes Money from Music
- How Rich The Kid Makes Money from Music
- How Fat Joe Makes Money from Music
- How Jason Derulo Makes Money from Music
- How Danielle Bregoli Makes Money from Music
- How Vanilla Ice Made Money from Music
- How Carrie Underwood Makes Money from Music
StubHub is an online ticket exchange platform. It is a marketplace where you can buy and sell physical and electronic tickets.
This is one of the largest ticket resale websites.
You can use this site to resell tickets for sports, concerts, theater, and other live entertainment events.
How to Resell Tickets at StubHub.
- Create an account and sign in to the platform.
- Search the website and click on the specific website you have a ticket for.
- Click on the “sell” button after you have identified the event you ticket for.
- Set your price for the tickets. It could either be a fixed price or a declining price. StubHub may reduce the price you have set to make the ticket easily appeal to buyers or customers.
- Choose whether to be paid by PayPal or paper check.
- Get paid after your ticket is sold.
Ticketmaster is another top company that sells tickets for live events. It is an American ticket sales and distribution company based in Beverly Hills, California with operations in many countries around the world.
Ticketmaster specializes in ticket sales, ticket resale, ticketing technology, marketing and distribution of tickets.
You can sign up with Ticketmaster to resell digital tickets for sports, concerts, theater, and other live events, especially when you need cash desperately.
How to Resell Tickets with Ticketmaster
- Sign in to your My Account and tap on your order to view tickets.
- Tap the Sell Tickets button.
- Select the ticket(s) you’d like to sell.
- Price your ticket(s) to sell.
- Select which payment method you’d like to receive your funds.
- Review your listing and you’re done.
You can also list and sell your tickets using the Ticketmaster app on your mobile device.
4. Vivid Seats
Vivid Seats is another top marketplace for buying and selling tickets for live events.
The company is committed to customers with guaranteed satisfaction when they buy or sell live tickets.
You can sign up with Vivid Seats to resell tickets for sports, concerts, theater and other live events.
You can resell tickets at Vivid Seats:
- If you no longer want to attend the event.
- If you have extra tickets.
- If you have season-long tickets to sell.
How to Resell Tickets at Vivid Seats
- Create an account with the Vivid Seats.
- List your tickets for free.
- Set your own price and quantity.
- Receive notifications when your tickets sell.
- Upload your e-tickets via an email.
- Ship your manual tickets via prepaid UPS shipping label to buyers.
- Get paid via PayPal after the buyer gets the ticket.
If you have a large inventory of tickets at your disposable, you can use the Vivid Seats’ FREE point-of-sale system. This system allows you to take advantage of many tools.
TickPick is another website where you can bid for live tickets. This company is based in New York but serves customers worldwide.
You can bid for and resale tickets for sports, concerts, theater, and other live events.
Both digital and non-digital tickets are sold on this website.
TickPick is a safe way to buy the best-priced tickets.
How to Resell your Tickets at TickPick
- Create an account on the TickPick website using your Facebook or email address.
- List the tickets you want to sell and provide details on whether it is electronics, paper or electronic/mobile transfer tickets.
- Set the price of the ticket and click the “click listing” button.
- Get paid when your ticket sells.
Resellers may list tickets above or below face value on TickPick
The above is how to make money reselling tickets. You also get to know of some places where you can sell tickets for profit.
Apart from the broker sites discussed above, you can also resell tickets by taking advantage of affiliate programs from some of these companies.
Reselling tickets is legal and you can actually take advantage of the available options.
Hopefully, you now have a better understanding of how ticket reselling works. Also you have answers to the most frequently asked questions about ticket reselling.