How to Make Money Selling Tickets on Stubhub

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Stubhub is a recent phenomenon which has revolutionized the ticket industry. Stubhub allows its users to sell tickets for virtually any event and to set their own prices. This is, for all intents and purposes, essentially a system of well-organized ticket scalping. However, there is a definite market and high demand, hence there is a great deal of money to be made. The following article will teach you how to make that money by selling tickets on Stubhub.

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Instructions

Difficulty: Moderate

Things You’ll Need:

Knowledge of the music industry
Money to buy the tickets up front

Step1

First, begin by setting up an account with Stubhub (see link to the website in the Resources section below). Afterwards, check the website out and become familiar with it. This will help streamline the money-making process later on, when you actually list tickets for sale.

Step2

Next, search online for tickets to concerts that you believe will sell out completely. This is the key element because if you buy tickets to a show that doesn't sell out, you may list them on Stubhub and never sell them at all.

Step3

Buy as many tickets as you can afford for the best concert (in terms of its likelihood of selling out) you can find. If necessary, you may have to wait for a popular concert to go on sale in order to get the right kind of tickets.

Step4

Sign in to your Stubhub account and list your tickets, choosing the declining price method. This will allow you to start your tickets out at a premium price level and then slowly decrease the price by a small interval each day. This will optimize your profits.

Step5

Closely monitor your ticket listings for competitiveness. Make sure, as the concert's date gets close, that you price your tickets at a low enough price that you sell them.

Tips & Warnings

Only buy tickets for a concert if you're very sure that it will become a sell-out. Fans will only have a reason to buy tickets from you on Stubhub if they can't be found elsewhere.
If you can't find tickets in your own city, check out concerts in other cities. This is often a very effective way of find tickets with great profit potential.
Don't assume that you'll always make money. Selling tickets is somewhat of a gamble and, as with gambling, you have to accept that there is a definite risk that you'll lose your money if things don't work out how you'd like them to.