StubHub the Real Winner
Thursday, May 21, 2015
USA Today (05/07/15) Peter, Josh
StubHub scored a major profit for tickets sold for the Floyd Mayweather Jr.-Manny Pacquiao boxing match, including the costliest ticket ever sold on the website, according to StubHub spokesperson Cameron Papp. That single floor-seat ticket sold for $40,955, and StubHub kept about $10,000, representing a 25 percent service charge split by the seller and purchaser. Papp reports ticket sales for the fight were comparable with those for a World Series game or the college football championship game. Shortly after less than 1,000 tickets for the fight went on sale to the general public on April 23, about the same number of tickets wound up on StubHub, which demonstrates that tickets apportioned to private parties made their way to the secondary ticket market. Tickets eventually sold for as low as $1,894 after being initially listed for no less than $5,000 on StubHub. Papp says ringside tickets prices at more than $100,000 were outliers. "Most likely, the seller is going to the event and is listing their ticket for an astronomical amount and seeing if he/she can hit the lottery," Papp notes. "After a while, if the seller is truly trying to unload the ticket, he/she will start to drop the price."
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