How To Adjust Prices To Maximize Profit When Selling Concert Tickets

When you create a listing for your concert tickets, you must set a price before publishing the tickets. You can adjust this price at any time to make your tickets more attractive to potential buyers. Lysted offers an automated pricing tool that helps you learn how to sell concert tickets at competitive prices. Here are some factors to assess when adjusting your ticket prices to maximize profits:

Concert Date

How near your concert date is can help you determine whether to increase or decrease ticket prices. Lower prices may attract early buyers if the concert is several months to a year away. As you learn how to sell concert tickets, try to avoid lowering your price below the original selling point, as this can result in lost profits. Concerts that are several weeks or days away may have limited ticket inventory. This allows you to set higher prices for your tickets, as fans are looking for last-minute deals.

Event Popularity

Popular concerts and events for high-profile artists bring higher ticket demand. This allows you to increase your resale price without deterring potential buyers. Fans may be more willing to purchase tickets to popular events, regardless of the cost.

To determine the popularity of the concert, research how many tour dates are available and the size of the artist’s fanbase. If a well-known artist has limited tour dates in only a few cities, the demand for tickets will be greater. Use this information to adjust your pricing and earn a larger profit.

Ticket Availability

If you purchased your tickets early, a large supply of tickets may still be available in the market. Adjusting your pricing to remain similar to the original price point may help your tickets sell faster.

If you want to earn a profit on your tickets, hold on to them until there are fewer tickets for the same event on the market. Explore resale platforms to determine how many other sellers are offering similar tickets. When there is less competition, there is more demand for your tickets. This enables you to set your prices higher for a more significant profit margin.

Similar Prices

Research tickets for similar events and in similar seating sections to determine an attractive and competitive price. At Lysted, we offer third-party pricing software that compares similar tickets to help you set a fair price. Our software also monitors market trends to identify when other ticket prices are fluctuating. Changing your ticket prices at the same time as other sellers keeps your listing competitive and helps you recover the original cost of your tickets.

Ticket Add-Ons 

If your tickets include add-ons, VIP packages, or other attractive features, you can set a higher price for them. Remember to include information about these perks in the ticket description to avoid turning away potential buyers who may be wary of the higher price.

Lysted allows you to select ticket add-ons from a pre-set list to make sure the information is communicated clearly to listing viewers. Other ticket disclosures that may allow you to increase your prices include front-row and 21+ seating areas.

Seller Fees

Resale platforms often charge sellers a fee for processing the transaction. If the resale site you choose has higher seller fees, increase your overall ticket price to earn a higher profit. At Lysted, it is free to create a listing, and we only charge an 11% service fee. We combine our rates and our resale partners’ services in this flat fee to help you earn more from your sales.

Learn How To Sell Concert Tickets Quickly

Lysted has automated features to help you sell your concert tickets quickly while earning a profit. On our platform, you can update your ticket prices manually or automatically according to market fluctuations. Our site has 24/7 support staff who can help you troubleshoot technical issues with your listing or transaction. Create an account today to list and sell your unused concert tickets.