Many Jets Fans Who Bought PSLs Early Got Better Prices
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StubHub Spokesperson Says Oversupply Of
PSLs Depressed Prices On Auction's First Day |
Jets fans who bought PSLs for the new Meadowlands Stadium when the team's online auction began Sunday "may already have saved up to $30,000 per spot," according to Kuriloff & Eichelberger of BLOOMBERG NEWS. StubHub PR Dir Sean Pate, whose company is operating the auction, said that an "oversupply of the licenses on the auction's first day depressed prices before the ... site cut the number available by two-thirds." Data from Seasonticketrights.com indicated that seats 1-4 in the first row of Section 113 on the 50-yard line "sold for $35,000 each" on Monday, while seats 25 and 26 in the same row "brought $55,000 each the next day." Pate: "There were probably three times as many auctions when we started on Sunday than you're seeing now. What we learned was that it diluted the overall bidding prices. So we elected to scale back the number of seats we offered on any day to make it more digestible." Seasonticketrights.com President Kyle Burks said, "If you're a Jets fan and you bought your seats early, you definitely got a heck of a good deal. You've already made money" (BLOOMBERG NEWS, 10/22). In N.Y., Chuck Bennett reports the "mystery mortgage mogul who shelled out $400,000 for the rights to buy the two best seats in the house for Jet games fumbled in the timing of the market." That is because the PSLs for nearby seats "are selling for less than a third of the price" the anonymous exec paid. Bennett notes tickets in the "first row within 10 yards of the 50-yard line have sold for $65,100 or less," while four seats "on the same Row 1 but closer to the 45-yard line went for $35,000 each" (N.Y. POST, 10/23).
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