High-Value Tickets for T20 World Cup: A Detailed Analysis of Pricing Dynamics
New York: The demand for tickets to the India-Pakistan match at the T20 World Cup has reached extraordinary levels, with one seat in Section 252, Row 20, Seat 30, listed for $175,400 on the resale market, StubHub. This raises questions about the reasons behind such high pricing—is it a unique feature of the seat or simply a reseller’s extravagant pricing strategy?
Tickets in adjacent rows within Section 252 are priced significantly lower, with listings at $693 in Row 21 and $801 in Row 19, adding to the intrigue. Another ticket in the same section, though without specific seat details, is listed for the same exorbitant price on Viagogo, potentially by the same seller.
The high demand for the India-Pakistan match, regarded by many fans as the highlight of the month-long tournament held across the US and the Caribbean, has led to substantial profiteering in the resale markets. The official International Cricket Council (ICC) site, as of Friday night, still had a few tickets available without markups, priced between $1,500 in the Boundary Club section and $10,000 in the Diamond Club section. Intermediate pricing included $2,750 for the Premium Club Lounge section and $3,000 for the Cabanas section.
Contrasting this, tickets for Saturday’s Netherlands-South Africa match at the same venue ranged from $120 for Premium to $700 for Premium Club sections on the ICC site. For the upcoming India-US match on Wednesday, ticket prices were listed at $300 for Premium, $1,000 for Premium Club Lounge, $1,350 for Cabanas, and $7,500 for Diamond Club.
The ICC commenced ticket sales through a “public ballot,” where fans applied and were randomly selected to purchase tickets. The demand for India-Pakistan match tickets at the 34,000-capacity stadium surpassed supply by 200 times. Consequently, some of those who secured tickets through the ballot or subsequent open online sales in February and April are now attempting to profit substantially by reselling them.
StubHub, Viagogo, and similar platforms facilitate these transactions, charging fees to both the seller and buyer while guaranteeing the sale. Despite the high asking price of $175,400 for a ticket, most secondary market prices range between $700 and $1,000, still representing a significant markup.
Closed transactions on these platforms are often indicated by a strikethrough on the listings. The second-highest ticket listing on StubHub is $18,000 in Section 101, followed by $13,496 in the Diamond section, which includes perks like free VIP parking and complimentary unlimited food and drinks (beer, wine, and liquor). Viagogo lists a Diamond Club seat for $6,700, with most tickets priced between the $500s and low $700s. On VividSeats, the most expensive listing is $8,013, with the cheapest at $693.
