Boxing fans who will be in Las Vegas on Saturday night (May 2) may be able to score tickets to the Floyd Mayweather-Manny Pacquiao fight for close to face value, reports ESPN.
While around 500 tickets that were released to the public sold out within minutes last week, prices on the resale market have started to fall.
The report says around 30 tickets sold early Friday (May 1) on StubHub for an average price of $3,899. A day earlier, 156 tickets sold for an average of about $800 more. And interestingly, 10 tickets sold for less than the investment in the ticket, after fees.
Currently, more than 1,000 tickets are currently available online, and an unknown known on the ground in Las Vegas.
Insiders say the market crashed because of the early hype around the prices. Last weekend, StubHub had sold 252 tickets for an average price of $6,583, but the quantity of tickets being sold was relatively low.
Furthermore, ESPN reports that another reason for falling ticket prices is that the true hotel market actually revealed itself within the past 24 hours. In late February, when the fight was announced, rooms were reserved quickly, but as cancellation policy windows started to kick in Thursday, rooms suddenly freed up.
Rooms that were available at the MGM Grand for $1,600 have fallen to only $499 for fight night. Other hotels, which didn’t offer a room last week for less than $800 for the night of May 2, are now selling rooms for below $300.
Per the fight contract, MGM got 40 percent of the tickets, while the promoters, Top Rank and Mayweather Promotions, each received 30 percent of the tickets for the 16,000-seat arena.
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