I know this is old news but wait till you experience this yourself.
Back on February 11th, inherited owner Hal Steinbrenner explained the YTE concept via ESPN New York, “The Yankees Ticket Exchange will be a safe, convenient, reliable and expedient way to purchase and sell guaranteed authentic Yankees tickets. It is unfortunate that unscrupulous resellers utilize deceptive practices and tactics and employ unofficial websites, all of which give rise to counterfeit tickets.”
StubHub…. counterfeit tickets?
I have bought countless Yankees tickets on StubHub for regular season games, ALDS, ALCS and the 2009 World Series for games in both Philadelphia and the Bronx, and never once have I had any issue with a counterfeit ticket. Nor have the many friends and family I know that use StubHub regularly.
So today I started looking to buy tickets for Opening Day on April 1st at Yankee Stadium for my father and me.
Even thought I dreaded thinking that the Yankees front office didn’t tell the truth about the Yankees Ticket Exchange, I knew there was no way Prince Hal was not gaining from this or at least attempting too.
And here is what I found:
Graham Thornton of SeatSync.com wrote an article called Facts Behind the New York Yankees Seated Ticket Exchange. Here are three things, I guess you could call them white lies that Mr. Thorton uncovered.
- Deceptive, Uneven Fee Structure (no, it’s not 5% for all sellers) It is disappointing how the Yankees are concealing the true fees of using their new Ticket Exchange. In most articles and press releases, the Yankees reference how their 5% seller fees are much less than the 15% charged by StubHub. But a deeper look at the true fee structure reveals that only season ticket holders selling their tickets are charged a 5% fee. Non-season ticket holders will still be charged 15% in fees. No different than StubHub. Conveniently, these fees are hidden from any press releases and undisclosed in the seller agreement — though we confirmed this through several phone calls to the Yankees Ticket Exchange.
- Price Floor (Yankees control pricing now) While yet to be specified, the Yankees will be implementing a ‘price floor’ for sellers. This move was anticipated, and many believe is one of the driving factors behind the switch. While the Yankees insist the move from StubHub was to find a more “fan friendly” alternative, ask yourself this: does a price floor benefit ticket sellers (i.e., season ticket holders / ticket brokers) or ticket buyers? Our opinion is that a price floor has a much larger benefit to ticket brokers that have season tickets for Yankees games that often go unused. A price floor also hugely benefits the Yankees by giving them control over how prices are set in the secondary market.
- Where’s my money? Though it’s probably for another discussion, we are interested to see how sellers will get access to the funds from their sold tickets. At initial glance, ETF is an option — but the Yankees are also pushing for sellers to build up “seller credit.” This is not such an attractive option at first glance, given that the Yankees could limit how credits can be spent (on Yankees tickets or gear?). Just give me my money.
So if you are wondering where I finally purchased my 2013 Opening Day tickets the answer is StubHub.