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January 27, 2014 at 6:47 AM

Super Bowl ticket prices continue to drop

As Super Bowl week opens, one consistent theme is that ticket prices on the secondary market are continuing to drop.
Connor Gregoire, with SeatGeek.com, says: “The average ticket price has now fallen 40 percent in the past week, and it looks like this title game will be the cheapest since Super Bowl XXXVI in 2002.

He also provides the following notes:

  • After starting out hot, ticket prices for Super Bowl XLVIII are already in a nosedive as we reach gameweek. The average prices paid for a Super Bowl ticket purchased this weekend is $2,056. That price is down over 40% from the average prices paid in the 24 hours immediately following the conference championship games ($3,439).
  • Stacked up against all Super Bowls dating back to SB XLV, that price ranks as the cheapest average price paid for a Super Bowl ticket during the weekend prior to the game. Compared to the average price of $2,056 for SB XLVIII paid this weekend, tickets purchased during the weekend prior to Super Bowls XLVII ($2,512), XLVI ($3,127) and XLV ($3,513) were all more expensive.
  • It looks increasingly likely that this year’s Super Bowl will be the least expensive Super Bowl since Super Bowl XXXVI in 2002. With that game played just months after the 9/11 terrorist attacks, travel and security concerns led to a deeply depressed secondary ticket market, with tickets selling for far under face value on gameday.
  • With just about 18,000 tickets posted on secondary market sites, we’re seeing a glut of supply in the market, with more than double the number of tickets on the market as there were in the the immediate wake of the conference championship games. Strong supply and great uncertainty about the weather forecast has helped to keep prospective buyers on the sideline for now — driving prices downward at a record rate.
  • When taking into account all tickets sold to date for Super Bowl XLVIII, the average price paid for a ticket so far is $3,135. With this average likely to be dragged down further by ticket sales that will be made over the remaining days prior to the game, there’s effectively no way that this game will be the most expensive Super Bowl ever when it is all said and done, as its average ticket price is already beneath the final average ticket price for Super Bowl XLV ($3,561).
  • Much of the drop in average ticket prices has been driven by the fall in prices paid for upper deck and end zone seats. In the 24 hours after conference championships, the “get-in” price for the cheapest available upper deck seat was $2,100. But just within the last 24 hours, we’ve seen upper deck seats sell for as little as $1,150. The cheapest seat sold on the lower level in the 24 hours after the conference championships was a Seat in Section 124 for $2,600. Within the last 24 hours, however, the cheapest seat sold in the lower level went for $2,050.
  • We’d expect a continued decline in prices into next week, though it will be interesting to see if prices do hit some sort of floor or bottom out this week. One area where we have seen some level of a floor is for club seating with some sort of access to an interior, warmed concourse. Those tickets have held steady with an average sales price of around $6k – $7k for virtually the entire week.
  • If we had to make any bets about the composition of the crowd on Super Bowl Sunday, we’d speculate that Seahawks fans will outnumber Broncos fans in the building by a fair margin. Based on traffic to SeatGeek’s Super Bowl pages, we’ve seen about 18% of all shoppers originate from the state of Washington — which is more than double the traffic SeatGeek has seen from users in Colorado (8.1% of all Super Bowl visits).
  • All of the latest info on prices and ticket availability can be found on SeatGeek’s event page for the game: http://goo.gl/pW2Xl6

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