There is an interesting new site that is taking a different position on the secondary ticket market. While soft launching in January 2008, Fanprice.com officially announced its launch over the Memorial Day weekend.
What is different about them is they are “Fan Focused”. A fan comes to them looking for the seats they want and makes an offer. It is up to the seller to decide whether or not to take it. This is different from Stubhub, Ticketsnow and the other sites in that they are all focused on what the seller will take. This is the concept in reverse.
Their ability to accept volume of tickets from a file is in beta right now. They can also accommodate e-tickets. The e-tickets can be transacted until game time.
When we asked them about their advantage in the marketplace the reply was:
“The advantage is that there is actual cash on the table for your consideration. As you are well aware, you never know for sure how a particular game or event will sell. Game values can change in a moment due to weather predictions, player injuries, etc. Similarly, artists can flood a market with additional shows decreasing ticket values or make a comment in the media that decreases their fan appeal. In the end, however, YOU control whether you accept an offer or not, so if the price isn’t to your liking, you don’t have to accept it. Knowing that you can lock in profit on a set of tickets without exposure to further risk of devaluation will allow sellers to move more inventory faster and increase the opportunity cost of the money they are making. We expect brokers will continue to use both types of sales strategies for their inventory and Fanprice will be another tool in their belt for them to move inventory. “
Fanprice.com is a very different concept and we always consider someone who is different to always have somewhat of an advantage.
They are not revealing yet what the marketing plans are or how they will get eyeballs over to their site. The ticket market is a crowded and expensive place to get eyeballs online. A company needs to be well-funded to make a presence online.
We do like the fact that a place like Fanprice.com does give us another option. The more options we have, the greater the chances of us making a buck and that is what it is all about.
To learn how to make money being a ticket broker, visit www.MyTicketBiz.com.
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