1. Please take 30 seconds to register your free account to remove most ads, post topics, make friends, earn reward points at our store, and more!  
     
    TalkBass.com has been uniting the low end since 1998.  Join us! :)

‘OldChella’ Tickets Now Being Sold for Less Than Half of Face Value

Discussion in 'Miscellaneous [BG]' started by Richland123, Oct 7, 2016.


Tags:
  1. Richland123

    Richland123

    Apr 17, 2009
    ‘OldChella’ Tickets Now Being Sold for Less Than Half of Face Value

    a5f3ddf0-cacc-11e5-8acc-ab54b7083ae5_0d6e93875aaabd03e83ff16d25ff0315.
    October 6, 2016

    It was a long strange trip for Grateful Dead fans during the summer of 2015, when ticket prices for the band’s reunion shows soared into the tens of thousands on the secondary market—before plunging below $20 at the last minute for certain shows.

    History now seems to be repeating itself for another series of epic concerts featuring Baby Boomers’ favorite bands. Desert Trip, the festival featuring Bob Dylan, The Rolling Stones, Paul McCartney, Neil Young, Roger Waters, and The Who that’s been dubbed "Oldchella" because it’s being held at the same Southern California setting as Coachella, is being held over October 7-9 and October 14-16.

    Tickets for the shows supposedly sold out immediately when they became available in the spring. But recently the festival organizers released for sale. What’s more, it appears as if many ticketholders purchased their passes with the intention of selling them for a profit. Now the market is flooded with passes for sale, and sellers who are worried about getting nothing for their tickets are cutting their losses and accepting prices below face value. This is a big problem for sellers—yet it’s a buying opportunity for music fans hoping to see rock music legends perform at a (relatively) cheap price.

    As Bloomberg reported, three-day passes with face values of $399 are now being listed for $165 to $188 on secondary market sites. In other words, someone buying a pass today could be paying less than half of what his buddy paid for the same ticket a few months ago.

    “The basic game of the secondary market is gambling and speculation — it’s pork belly futures,” Gary Bongiovanni, editor-in-chief of Pollstar, told Bloomberg. “Everyone thought this would be a hot show, and it was, but obviously there isn’t a huge market of people willing to pay even more to access tickets.”

    For many events, like the Super Bowl, ticket sellers can make a fortune by making deals behind the scenes to secure tickets and then dramatically hike prices when the market peaks. But it appears as if this strategy backfired in a big way with Desert Trip.

    The bottom line for music fans: If the high original ticket prices for Desert Trip scared you off from attending, you might want to reconsider given plummeting prices on the secondary market. To tweak the Rolling Stones’ lyric, sometimes you can get what you want.
     
  2. Ukiah Bass

    Ukiah Bass Supporting Member

    May 10, 2006
    I love the music of all those artists. I grew up with it. Good memories. Lots of inspiration for pursuing the bass and music. But as for spending a small fortune to drive out into the desert, deal with the hassles of crowds and overpriced food/drinks, and watch days go by as those aging artists struggle to hit notes like they used to, and -- well, that's one "experience" I have no intention of pursuing. I'd rather spend money in TB classifieds.
     
  3. devo_stevo

    devo_stevo

    Aug 2, 2006
    Northern Utah
    Builder: Brumbaugh Guitarworks
    I absolutely detest the way that concert tickets are sold nowadays. I can't tell you how many times recently I've seen that an artist that I want to see is coming to town and I look for tickets and they are sold out. Yet you can magically buy them for 3-10 times the face value on websites like stubhub and such.

    It just kills me. Stop it. If you have no intention to see the show, don't buy the damn tickets. Stop it.

    I wanted to see Sigur Ros last month in Salt Lake City. By the time I was ready to buy the tickets, which sold originally for $39 or $59, the show was sold out on the venue's site. There were loads of them for sale from $80 up to around $300 on various other sites. As much as I would love to see them, I'm not willing to support such shenanigans.

    Oh well. It's not the end of the world, but it's one of the things that I absolutely hate right now. I'll stop now.
     
  4. sissy kathy

    sissy kathy Back to Bass-ics Gold Supporting Member

    Apr 21, 2014
    Arbutus, MD
    I think it's great that the scalpers are getting scalped. If it happens enough that stuff'll stop.
     
    Last edited: Oct 9, 2016
  5. bluesblaster

    bluesblaster

    Jan 2, 2008
    They're also doing a disservice to the bands when this happens, people that would be glad to pay the original ticket price stay home when they are resold at higher prices. Venue also looses potential business from less people at show. If people would just refuse to buy from re sellers this practice would eventually fade away as they would be left with no customers for there investment, forced to sell at face value or less. Its a shame its come to this at all, its always a greedy few that spoil it for everybody.
     
    devo_stevo likes this.
  6. Snaxster

    Snaxster

    Nov 29, 2008
    That sounds about right to me. We can imagine that those tickets' prices slid further still in the day before the start, and that eventually many would be left unsold. It is fitting, emblematic of the event's irrelevance.
     
  7. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    1. I think most venue owners would take a guaranteed sell out and less merch than possible unsold tickets.

    2. We all champion the ability to buy everything on the net. When this happens, this is just a natural by-product. Can't have it both ways...
     
    themarshall and SirMjac28 like this.
  8. GregC

    GregC Johnny and Joe Gold Supporting Member

    Jan 19, 2007
    Chicago
    Byproduct? I disagree. This happened back in the day too, just not to the same extent as the Internet made it easier. More importantly, you can have tickets for sale on the Internet and still have limits on the quantity purchased by a single persn/entity--this happens with some shows, usually with bands who are able to use smaller-time ticketing services. But the jackasses at Ticketmaster/Live Nation/Insane Service Fee Corp. don't give a crap about that as long as they get their cut.
     
    devo_stevo likes this.
  9. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    Exactly my point - you used to have to pay someone to wait in line. It just makes it easier for the scalpers to snatch them up. And ANY promoter would prefer to know there is a sell out ahead of time.

    But seriously - I can't think of a time in the passed 5 years at least when I bought a ticket for a concert or other live entertainment show either AT the venue, or paid list price - either at a discount or premium, through an on line source.
     
  10. bluesblaster

    bluesblaster

    Jan 2, 2008
    It would be nice if they put a cap on the number one person could purchase but there's always a way around that. Live Nation doesn't care, its just business to them. There about dominating the market place than whats best for the concert going public, they know there are enough people that will still pay for that pricey ticket, so business is good for them. You wont see me at one of there gouge fests though.
     
  11. GregC

    GregC Johnny and Joe Gold Supporting Member

    Jan 19, 2007
    Chicago
    Well no, our points are not the same. You seem to be simply blaming the Internet; as I thought I made clear, I think it's a lot more complicated than that.
     
  12. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    It's not just the internet, but it certainly helped facilitate this.
     
  13. elgecko

    elgecko

    Apr 30, 2007
    Anasleim, CA
    Schadenfreude for the speculators...great band name!
     
  14. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    Remember, as the article points out, it also allows you to buy tickets legally and safely for less than face value at times.
     
  15. devo_stevo

    devo_stevo

    Aug 2, 2006
    Northern Utah
    Builder: Brumbaugh Guitarworks
    I don't care. I still hate it.
     

Share This Page