How Have Ticket Prices Reacted To No-Hitters In 2010?
A Continuing Study
This is a continuation of an article published on the seatgeek blog last week entitled: Do No-Hitters Affect Ticket Prices.
Since originally writing a piece on no-hitters and ticket prices last week, there has been yet another perfect game in baseball, (whether or not Bud Selig chooses to admit it.) Armando Galarraga’s almost Perfect Game has given us another slice of data to add to our set. The average price of a ticket to Galarraga’s start on June 2nd against the Cleveland Indians was only $33.29, while the price for his next start on June 8th skyrocketed to $56.35. This price is well above the average price of a Tigers ticket which trades at $49.25, and the average price of $40.54 for the week following Galarraga’s gem.
However, while the price for his next start is significantly higher than expected. We cannot necessarily attribute this price discrepancy to Galarraga himself. His next start is on the road in Chicago against the White Sox, and ticket prices are in fact higher for the two games in the series in which Galarraga is not pitching. Take a look:
The average transacted price for Galarraga’s start is $56.35
There are many factors that together determine prices on the secondary ticket market. Seatgeek developed an econometric model to account for the intricate interplay between such diverse factors as day of the week, weather forecasts, quality of opponent and more. One pitcher, even after a perfect game, does not himself create enough demand to significantly alter ticket prices. Rather, he is just one of many factors, that together allow SeatGeek to accurately forecast ticket prices over 85% of the time.