Category Archives: Tips

Oracle Arena Ticket Pricing

This isn’t an arena review because I’ve never actually been to Oracle, but I do have some insight about how their ticket pricing works.

If your goal is to maximize profits from brokering, I would seriously avoid any event at Oracle Arena. I know you may be thinking, the Golden State Warriors are the best team in the NBA and are breaking records all around, why wouldn’t I want a piece of that?

I’ll tell you why. Oracle Arena and the Golden State Warriors are well aware that their on-court success is attracting more and more brokers and scalpers. There was recent news that the Warriors are strategically charging brokers twice as much for their tickets as everyone else. This is an issue because then those brokers will have to sell more tickets at higher prices to finance their original purchase.

When they have special “presales,” this is usually their way of getting rid of the crappy seats first at a very high price, knowing that people will buy them up without even thinking. For the first home game of the Western Conference Semifinals, the cheapest tickets were $230 during the presale. Then the day of the game, they lowered their prices to $170 for the same seats. I watched the regression of the resale ticket prices in the last three hours before the game, and they dropped 80% in that time.

This pricing strategy might eventually deter both brokers and fans because although the higher prices are justified for such a successful team, at what point to you price out everyone?

Another great example of this is the upcoming summer USA Men’s Basketball Showcase. This showcase features the best American basketball players (aka the best in the world) facing off in exhibition games against other countries. With the 2016 Rio Summer Olympics coming, this gives American fans a chance to see these players compete together. It is essentially an All-Star game. The showcase is happening in Las Vegas, Los Angeles, Oakland, Chicago, and Houston.

via usab.com

An event like this only happens once every four years or so, and it is great for those who don’t want to pay thousands to see these same players during All-Star Weekend. I purchased a set of tickets from two different venues, Staples Center (Los Angeles) and Oracle Arena (Oakland). Both of these games are happening in the same week in July, on a weekday, and against the same opponent (China). However, the prices for these events were very different. The cheapest tickets for this event at the Staples Center were $65 while at Oracle, the cheapest tickets were $95. 

How is this price justified? The same players are playing at both venues, so there is no difference in super-star value. The event is also not tied to the Warriors or the NBA because USA Basketball is its own national governing body. This all comes back to Oracle’s pricing model and attempt to deter brokers. In the future, I will avoid Oracle Arena event tickets, unless I actually plan on attending.

For more price reports, tips, and news about tickets, follow my blog and never miss an update!

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The Gift of the Game

Christmas is a special time for family, food, giving, and BASKETBALL! That’s right it’s that time of year again which means last minute mall runs and express online orders. Oh and let’s not forget a full day of NBA basketball featuring the best teams in the league. Personally I prefer watching basketball all day than putting on a sweater and going to random Christmas parties, but that’s just me.

Christmas Day Games

If you happen to be fortunate enough to hold season tickets for one of the five teams hosting games on Christmas Day, this is a great opportunity for you to make some quick cash. (Thunder, Warriors, Rockets, Lakers, and Heat.)

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cbssports.com

Just to give you a current figure, tickets for the Cleveland Cavaliers vs Golden State Warriors on Christmas Day are starting at $307 according to StubHub.com. In addition, the Lakers vs Clippers tickets are starting at $219.

But wait, there’s more!

Even if you don’t have tickets to these games, you can still take advantage of the holidays. The holidays are a retail goldmine and the best time to shell out those December and January tickets. I just put out most of my late December and January tickets, and in the last two days I’ve already sold tickets to four different games! That’s the fastest I’ve ever sold that many tickets and I expect that number to increase in the next week.

People are looking for perfect gifts, and what better than the gift of the game? It’s perfect for that special NBA fan who’s difficult to shop for. So if you have season tickets, get those December and January tickets out now because there is a demand for them. (Especially if you have Lakers tickets.) They will more likely sell now at higher prices than if you wait until closer to game day. I know I was able to get rid of tickets that I ordinarily would have had to undersell, but since I put them all out before Christmas, I was able to make a larger profit.

In case you were wondering, here is the full schedule for the Christmas Day games with channels. It should be a great day of match-ups, including the battle of the Texas teams, shared home court at the Staples Center and Kobe’s last Christmas Day game, and best of all, an NBA Finals rematch between the Cavaliers and the Warriors. This will be the first time these two teams have met since the Finals last June, and LeBron James and Steph Curry are sure to put on a show. With Steph Curry and the Warriors being the center of attention with a record breaking 24-0 start, it will be interesting to see how LeBron and the Cavs respond. That’s a game you definitely won’t want to miss!

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For more updates and tips on making the most profit off your NBA tickets, follow my blog and sign up for my email list to keep up with my latest posts. You can also follow me on Twitter @CourtsideBroker.

Got questions? Email me courtsidebroker@gmail.com and I might make a post about it.

Good luck and Happy Holidays from Courtside Broker!

NBA Ticket Brokering… for Profit!

Millions of tickets are bought and sold through online ticket marketplaces every day. It can seem impossible to compete in such a competitive industry, but I can assure you that there are ways to not only avoid underselling, but actually profiting from NBA ticket sales.

Common Mistakes

The most common mistake that sports ticket brokers make is pricing above the competition. This creates a problem because once it gets closer to game day, everyone else’s prices will significantly drop and you will be stuck either having to dramatically undersell or take a complete loss and be left with unsold tickets. People lose a lot of money making these silly mistakes that are so easily avoidable with just a little bit of research.

Know your competition

When trying to sell your tickets, you are not only competing with other ticket brokers, but also the box office. Unless you know for a fact that a game is sold out, people will always have the option to buy their tickets the day of a game at face value. This will require some research. Find out how much fans can get their tickets for from the direct source and adjust your prices accordingly.

Know your product

Not all NBA games have the same ticket price value. For example, the average ticket price for the 1-18 Philadelphia 76ers is $62, while the average price for the 20-0 reigning champion Golden State Warriors is $245. When big name players are traded, this also affects ticket prices for a team. A perfect example of that is LeBron James going back to Cleveland. In 2013 the Cavaliers sold tickets for an average of $76 after drafting #1 pick Kyrie Irving from Duke. In 2014, those prices slowly increased to $86 and after LeBron James and Kevin Love joined the team. In 2015 those prices shot up to an average of $230 per ticket after LeBron took his team to the Finals.

Know your customer

People usually don’t buy basketball tickets months in advance like they would for a concert or a Broadway show. This means that you need to be more aware of price fluctuations based on supply and demand. Season ticket holders will either post all of their tickets for the season for sale at once and just leave them there, or they will post them periodically as each game gets closer. Realize that if a game is two months away and you only see 700 tickets available, this does not mean that you can make your prices higher because more people will be selling as the date comes closer and more options will become available.

What do I do now?

Every investment is a gamble, but this can be a very rewarding one. Follow my blog and stay updated with news and tips on how to price your tickets to sell for the most profit.