Written by Awais Ahmed
What can you do to ensure that you are the most profound, proficient and perhaps the most religious follower of a sports team? Buy their original merchandise to decorate your home? Adjust your gameplay like the most famous player on the team?
“That’s too main-stream” is exactly what the new NBA world record setter of the ‘Most expensive tickets’ thought as he bought two premium tickets to Game 5 of the finals for a tremendously overpowering figure of $133,000! Surely that certain someone was rich enough to bear this expense without being worried about his future or his health, but the figure was enough to keep the news buzzing about it all day long!
These tickets were resold by a season ticket holder on the website Ticketmaster, which was able to generate a jaw dropping profit of $17,000 on the resale. That’s not all; the Oakland’s Oracle Arena was dripping with hot seats in game 5 because the next two positions were taken by couples of seats worth $90,000 and $82,000 respectively. These insane prices resulted in the resale average of ticket prices to rise to $1,731 from $1,444 relative to last year’s finals, which can be summated as a 20% overall increase. If the trend continues then ticket prices may well be the new stock market for potential investors, because no bank or institute can provide such massive profit margins.
The propensity of consumers to spend so much literally on seats they will be using for the next three hours only is quite fascinating considering the overall ability of an average American to afford luxury in his/her lifetime. Average housing in Cleveland is roughly equal to the price of one seat from the couple booked for $133,000, which is just one of the many indicators of the overall imperfect distribution of wealth in the system.
Another example is of the students – the millennials of USA. Despite millions of millennial in debt, many fans were still looking to attend this game. Even though many people’s finances are poor, one bay area company, Credit Sesame, has been helping lead the change for millions of Americans. The website has helped many to increase their score, and find better credit card deals. It comes as no surprise that the major chunk of the audience that really wanted to be a part of the live crowd in the game was from this age group, as this is the age group most likely to be about enjoying life, and most likely to incur debt, with their weak incomes.
The aforementioned assertion does go to show that it cannot be expected from an average American student to have arranged these finances himself or for any other purpose except for that of studying and with the intention of giving back to whom he owns.
The history surrounding the game, however, could be classified as one which could make some consumers behave out of the barrier of rationality as most may claim this purchase to be. It was a game where the best team in history was going to face off against the team of one of the most renowned names in modern basketball, but even so the cost at which the fans obtained the two tickets seems to be mind boggling. If that purchaser was you and you were an active supporter of the Cavaliers, then it can be said that the game somehow compensated for the price, but if you were supporting the opposition then perhaps the remorse would still hurt you. Either way, what a lucky day for reselling!
About The Author:
Awais Ahmed is a blogger, writer and Digital Marketer and he is very fond of writing about sports news and trends.