I found this quite interesting, and goes to show how an auction can burn you...Look at the differences in these selling prices? Now mind you, people who are bidding for these tickets, obviously have the money. But keep in mind what this will do to the section across the field from these seats, where PSL's are supposedly set at $25,000 each? Why would anyone choose to pay that, when they know the seat across from them just went for a lower price? These just sold at 1:30pm SEC 111. ROW 3 25YD LINE $12,600 EACH SEC 112. ROW 1 30YD LINE $36,100 EACH These just sold at 1:40pm SEC 111 25YD LINE ROW 4 $12,500 EACH SEC 112 35YD LINE ROW 2 $24,600 EACH SEC 114 35YD LINE ROW 5 $19,400 EACH
no doubt...... also, it will probaby be a big thing in those seats all asking each other what they paid for their PSL's. The suckers will be ostracized for having poor business acumen in the coaches club community......oh to have those problems
This is an fascinating case study on economics. We have just had our cheapest PSL print since the auction opened, and I can see it going lower. If someone see's 25yd line seats, 4th row print for $12,500, of course they won't pay higher than that for row 13. And we are seeing that happen now...20mins later, someone just paid $10,500 each for 25yd line, row 13.
Auction End Times Cancelled October 20, 2008 by Tony Stokoska Filed under Jets Coaches Club Leave a Comment Yesterday we reported that the late night auctions might be a good time to steal a deal on Jets Coaches Club PSLs and we were right. But the deals were short-lived after Stubhub decided to cancel the auction end times of the last 18 auctions, pushing them ahead to this morning instead. The move allowed more bids to be placed on the auctions that were delayed, which means a higher price tag for the eventual winner. But some of the best deals were had between 10 and 11 pm Eastern time. The following all ended during that time. Section Row End Price Section 113 20 $16,500 Section 115c 15 $15,800 Section 114 15 $16,600 Section 113 20 $23,000 Section 115 15 $14,500 Section 114 15 $18,500 Section 113 16 $36,300 Section 114 14 $19,000 But the deals were short-lived. Auctions were supposed to continue, with two or three ending every 10 minutes until 1:20 am Eastern time. But suddenly the auction end times changed. The auctions due to end at 11:30 suddenly had an end time of September 20 in the morning. In all, 18 of the 77 auctions listed yesterday were changed, totalling about 55 PSLs. We find it curious that Stubhub would extend the auctions given that the company?s parent, eBay, does not allow it?s sellers to extend the length of their auctions once a bid has been placed or at all when there are less then 12 hours remaining before the auction end time. For eBay sellers, extending auctions is a method used to avoid having to commit to sell and item for less than they hoped to receive. The ?no extension? policy has come under such fire for many years and is particularly unpopular with sellers in the ticket category. Auctioning off PSLs allows the Jets to sell them without a limit on the price. If they have decided to take advantage of that, shouldn?t they also be subject to the risks involved in the auctioning business?
Giants coaches club are $20,000 psl, $700 face per game for these sections that the Jets are auctioning on Stubhub. But the same sections on the opposite side of the field are $20,000 psl, and $160 face per game for the Giants. Now the Jets problem is lets say 35yd line seats, 25th row get $10,000 PSL in the auction. Now why would the guy who's sitting in the 35yd line, 25th row on the opposite side of the field pay $25,000, like the Jets are asking? Of course, the person will only pay as much as the person just paid on the Stubhub auction. I really think the Jets have opened a can of worms with this auction process. This can only help us, and have a cheapening trickle down effect on the rest of the stadium PSL's. Because if a guy is paying now $10,000 for a coach's club seat for the Jets, how can they charge $15,000 for a side mezzanine seat???
Not sure if this link will work if you dont have a login ID to the auction...but here is a closed listing, 30yd line seats row 13. Ending PSL price of $10,600. Its cheapened up quite a bit today alone. http://jetsauction.stubhub.com/scripts/listinginfo.asp?lotno=79605540
Looks like you are right Prices on Jets Coaches Club PSL Auction Start Low Monday October 20, 2008 by Tony Stokoska Filed under Jets Coaches Club Leave a Comment Ticket prices for today?s auction listings are nowhere near the high water mark of $65,100 set in early bidding yesterday. As of 11:30, several listings so far had sold below $20,000 and not many got beyond the $25,000/psl mark. Remember, $25,000 is the price tag being paid by owners of the most expensive non-Coaches Club PSLs. This might be a calm after the storm of yesterday?s initial auctions and is a focal point for bidders looking to snag a deal.
I suspect its the $700 a game that is killing these. I would have no problem paying $20000 for a set of these seats, but I couldn't stomach right now the $14000 a year for the rest of my life. I wish there was an auction for some reasonably priced per game seats so I could bid. Aren't the expensive tickets across the stadium confined to a very narrow band along the 50? Have any of the coaches club seats (other than the ones for 400K) sold yet? I imagine the closer one gets to the 50 the higher the premium.
The ticket prices out of the box are WAY too high. Imagine what they'll be in 4-5 years? That's the scary part... having no control over the hiking of prices. And you're stuck but good then. Don't want to pay the higher ticket price? Fine, forfeit your tickets with no return of your PSL... either that or try to sell it on the open market. Good luck if you're the A-hole that paid $36,000 per seat.
I don't get why anyone pays these types of prices for a PSL just to go to every game. Factoring in PSL prices, you could save thousands of dollars just paying ebay and StubHub prices for tickets every game or better yet for just the games you're able to or interested in going to. You know people are going to try and sell these tickets for as much profit as they can get to make money back on the PSL. But imagine getting stuck with these tickets next year if god forbid Favre retires and the Jets go 5-11?
Thats the scary part...Lets just fast forward to 2010, and say the Jets are without Favre (which is highly possible). And let's assume the Jets are playing a 1-6 football team, with not a ton of interest from most to watch them...Do people think they will be able to sell a ticket to the game for $700?? I don't know anyone who would pay them $150 for it...just seems like a silly investment. But, I'm sure these bidders are well aware of what they are getting themselves into.
So lets compare apples with apples then. Look at the seating chart...My point is that if you paid $12k for your auction seat in the Coaches Club, then why would someone pay $25,000 for the same seat in the Great Hall Club across the field? Each seat has at $700 face value on the ticket. My only point was, seeing this, how would someone pay a $15,000 PSL for a sideline mezzanine seat, carrying at $500 face value ticket. You're still paying less that the person did for the coaches club...And I realize we're talking $700 face versus $500 face, but I was only commenting on this because I think it will cause a few problems. http://www.newjetsstadium.com/seating_chart.php
1 Question how many of you on here actually know someone who has paid for 1 of these auction prices at these extreme rates and if none of you do as I don`t ,how many folks believe as I do that Woody probobly has hired people who are just sitting on computers and driving up prices so people think these seats are really getting sold at these rates...
What happens if they up the price, then no one else bids? Woody owns the seat? I don't see this as a likely scenario.
I've given some thought to the possibility of shills also. I doubt an outfit like Stubhub would allow anything that even hints of impropriety, but you never know. And there could be legal ways of getting around outright shilling also. Could Johnson and Johnson Corporation, for example, as a separate entity, be bidding on these early tickets, driving up prices and helping keep the bidding active? If J&J wanted to buy, say, 300 seats to use as giveaways and employee perks, if they had some dude with nothing else to do, sitting on the computer injecting bids on every sale, it would definitely pump up the prices. That would be one way of propping it up. I just can't imagine who the hell in their right mnind is paying $35,000 for one PSL. It just blows my mind.
we have to keep in mind that most (if not all) people who're paying for these tiks are stinking rich. people for whom this money is pocket-change. so i don't think these people care if they don't go to coupla "bad" games in a season and waste those tiks. this is more of a status thing for them.
Seriously? There are people that make hundreds of millions of dollars a year. $35,000 is like a nickle to them. You think that because of the tough financial times they are affected if they spend $35,000?...or $350,000 for that matter? They have a billion in the bank from the last ten years of clearing 100 million.
