Final Four Ticket Prices Sharply Rising Prior To Louisville Vs. Wichita State ...

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Submergence Of The Super Bowl Ticket Market Darren Heitner Contributor Big Dip In Notre Dame vs. Alabama Ticket Prices Demonstrates A Weak BCS Secondary Market Darren Heitner Contributor

Fans are paying top dollar to see Michigan vs. Syracuse and Wichita State vs. Louisville prior to the crowning of a National Champion. Photo courtesy of leverageagency.

The Final Four match up of Louisville vs. Wichita State is not anticipated to be a nail biter. Hardly anyone expects the game s result to be decided in the final seconds of the second half. However tonight s battle between the Michigan Wolverines and the Syracuse Orange is predicted to be one of if not the best game to watch in this 2013 NCAA Tournament. In fact people are coughing up top dollar in order to see it live in the Georgia Dome.

According to secondary market ticket aggregator TiqIQ the average price to get into tonight s Final Four Semifinals is $889.14. The data organized by TiqIQ was provided to FORBES within the past hour. That price is almost double the Final Four average ticket price on the day of the event in 2012 ($494.41) when Kentucky played Louisville and Ohio State faced off against Kansas. It also dwarfs the price of tickets to the 2011 Final Four which were listed at an average of $336.77.

Some may view the increase in average ticket prices as a positive outcome for the secondary ticket market as a whole. It is a shift away from a very weak secondary ticket market surrounding the 2013 BCS National Championship Game between Alabama and Notre Dame and a market that continued to submerge in the days leading up to the Super Bowl between the San Francisco 49ers and Baltimore Ravens.

Typically tickets hit the secondary market at an extremely inflated value and are eventually adjusted to reflect the immense supply of tickets and oftentimes lack of heavy demand for same. However that has not been the case with entry to this year s Final Four. TiqIQ s data demonstrates that the current get in price for the Final Four is $324 up 129.8% since last week ($141) and that the average price is also up 49.45% over the same period of time (from $594.95 to $889.14).

A variety of factors have been attributed to the large cost of entry through the secondary ticket market. First of all Michigan and Syracuse alumni are known for their staunch support of their athletic programs. Additionally Michigan a team full of talented players has not reached the Final Four since 1993 and the last time the school won the NCAA Tournament was 1989. With a young core finally coming together to show off their immense skill the fan base appears to be paying whatever it takes to cheer on the Maize and Blue.

Darren Heitner is a Partner at Wolfe Law Miami P.A. in Miami Florida Founder of Sports Agent Blog and Adjunct Professor of Sport Agency Management at Indiana University. Follow him at DarrenHeitner and learn more about him at http //www.darrenheitner.com.

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