High ticket prices at Madison Square Garden: Was it a Cavalanche?

ticketsTickets for Friday’s Sweet 16 games at Madison Square Garden in New York were going for $600 and up on StubHub. From the looks at StubHub Sunday morning, with more than 1,200 tickets still available at a fraction of what they were going for Friday night, it may be that we can attribute the high prices for Friday to a Cavalanche.

As of 11 a.m., there were 100-level tickets available for $300 and less, and tickets in the 300 and 400 levels in the $125 to $135 range.

The prevailing opinion among observers heading into Friday’s games was that the high ticket prices had to do with the presence of UConn. In the regional semifinals. UConn.’s campus in Storrs, Conn., is two and a half hours away, and it was assumed that the school’s fan base would flock to MSG to see their Huskies do battle.

The first half of the UConn.-Iowa State game, which was the first game in the Friday night doubleheader, was played to a half-empty Garden, before UVa. fans trickled in ahead of the nightcap in the second half.

The principle of supply-and-demand that we learned in Economics 101 would suggest that the lower prices for ticket resales for Sunday’s regional final between UConn. and Michigan State is indicative of lower demand.

Bad news for StubHub and the hawkers on 31st Street and Penn Station who had a sellers’ market a couple of days ago.

         
 

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