For golf fans and golf players alike, the Masters Golf Tournament in Augusta, Georgia is the pinnacle of the PGA Tour season. Even with this year’s tournament having the added attraction of Tiger Woods playing his first major since season-ending surgery last season, the economy has still taken its toll on the iconic tournament.
Tickets across the secondary ticket market for each day of The Masters week, from Monday practice rounds to Sunday’s final round, are selling at significantly lower prices than in years past.
According to data from StubHub, for each of the four rounds, the 2008 average selling price ranged from $1,045 for the final round to $1,173 for the first round. This year the average selling price is as low as $577 for the third round to as high as $757 for the first round.
Even more drastically down are the 4-day package prices which are down nearly 48 percent. Last year, prices averaged $3,930, while this year the prices are averaging only $2,046.
StubHub is not the only secondary site that is reporting low selling prices as the pricing trends. According to a press release from Texas-based Ticket City, the average market value in years past for a full-day practice round ticket at The Masters was around $350, and a full-day competition tournament badge was about $975. This year, practice round tickets start at $170 and full-day badges at $478.
“If you’ve ever wanted to see the Masters now is the time. Access to the Masters is the lowest it will ever be,” said Tara Rau, Vice President of Acquisition and Risk Management for Select-A-Ticket, in a statement.
In addition, the economic trouble that has faced the secondary ticket market has also had an impact on the hospitality companies that surround the Augusta National Golf Course.
“Everybody assumes that the Masters weathers it all, but not in a crisis like this,” Diane Starr, president of Corporate Quarters Inc., said to Bloomberg News. Her comany leases homes to attendees during the tournament, and she added that house rental prices are down 50 percent from last year with plenty of homes still available.
“This is very different than any other year,” said Steve Parry, president of GoldenTickets.com and owner of the 1018 Club, a corporate hospitality house less than 500 yards from the Augusta National Golf Club, told Golf.com. “The companies that would have brought 50 people are down to maybe 20. And those who sent 20 are down to zero.”
The Masters is scheduled to tee off on Thursday April 9, with practice rounds starting on Monday, April 6.