Ticket search engine and price predictor SeatGeek has a new product aimed specifically at major league sports season ticket holders.
SeatGeek’s Ticket Portfolio™ service offers season ticket holders the opportunity to sell their tickets using the same price forecasting technology the company uses to help consumers find the best prices on event tickets. The new program, launched in time for the opening of the 2010 MLB season, allows ticket holders to set their own prices for their “portfolio” of season tickets on the site. Next, as Seat Geek’s predictive tools suggest movement on the market, sellers will receive alerts advising them of the optimal times to sell their tickets and the best prices to set in response to the current market conditions.
As prices rise, ticket holders may be advised to wait on selling until values have reached their peak. As prices drop, alerts may suggest a price more in tune with the current conditions. Links to secondary sellers such as StubHub, RazorGator and TicketsNow are located on the Ticket Portfolio™ site so that users can easily access these sites to sell their tickets.
“At a very fundamental level, it’s a subscription service that allows ticket holders to make more money when they sell their tickets,” SeatGeek co-founder Jack Groetzinger told TicketNews. “We talked to a lot of the season ticket holders and found that they don’t go to all the games they have tickets to. Most of them go to a fraction of the games they have tickets to and the tickets often go to waste.
“We have a lot of data and technology that could basically help season ticket holders sell tickets and help them maximize the value they get from their season tickets. Buying season tickets can be an investment – you pay a lot of money up front. If you manage your tickets well, you can get a return on that investment.”
The cost of the service is $15 per month with a fourteen-day free trial period. SeatGeek guarantees coverage for the entire MLB season and postseason, and there are promises of other major league sports soon to come. The company’s founders, Groetzinger and Russell D’Souza, note that both fans and brokers with season tickets have expressed interest in the new service, and they welcome both groups. “We’ve been geared toward season ticket holders, but…we think it’s useful to brokers as well.”
Founded in 2009, SeatGeek offers consumers research-based ticket price predictions which allow them to buy tickets for sporting and concert events at the optimal time for the lowest price. The company aggregates data from major secondary ticket sellers and combines this information in an algorithm with other contingency data, resulting in a forecast of where prices might be heading for a particular event. When prices are moving down, fans can receive email alerts which will suggest the best time to buy. The company Web site claims over 80 percent accuracy on its pricing predictions.
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