The Super Bowl is the most anticipated and covered sport and media event in the world. While some games live up to the hype, many don't. Through the mediocrity and glory alike, though, high-ticket prices have been a constant. Super bowl tickets typically sell for 2-3 times face price, and this year face prices range from $850 to $1,250. For the first time in the five years we've been tracking the ticket market, prices for the big game may cost you less than they originally sold for.
In modern sports business history, the only other Super Bowl that came close to face price was the post 9/11 Patriots vs. Rams, under what were extreme circumstances. As Darren Rovell outlined in his article earlier this week on factors contributing to this years low prices, there are several reasons why demand has been unusually weak this year.
One thing that Rovell, in all his sports business wisdom, did not mention was the fact that the Super Bowl is one of the few events that does not allow for eTickets. That means that there is major market friction, which impacts liquidity, and can drive down prices. On their site, Nasdaq defines Friction Costs as "Costs, both implied and direct, associated with a transaction. Such costs include time, effort, money..." So unlike almost every other major event in sports, buying a last minute Super Bowl ticket must involve the messy business of figuring out exactly how to get the physical ticket in your hands.
What does this mean for prospective buyers? It means that if you can find a bed and a way to get to the Big Easy, the ticket is the easy part. Hotels and flights on the other hand, are holding firm, and as Rovell estimates, the game ticket is likely to account for only 25 percent of your total cost. As of Friday morning, there were still 3,500 tickets available.
In order to make it a bit easier for buyers and sellers to make this last-minute connection, the launch of our no-fee, Direct-to-Seller product is well-timed. SellerDirect, as it is called, launched this week, and it's the first product in the ticket market that allows you to see exactly who you're buying from, and most importantly, where that seller is located.
As the New York Times laid out in an article earlier this week, many sellers have made New Orleans their home for the week. The combination of Seller Direct and the market's continued decline means that bargains will be bountiful on Super Bowl Sunday and that time is on your side. It also means that you can now find the ticket that's most convenient for your route to the Superdome, whether on foot, trolley or car.
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