Official platinum tickets refer to a special ticket category used by Ticketmaster and some other ticket sellers. These tickets are priced dynamically, often higher than the original face value of the ticket. Official platinum tickets are different from regular platinum tickets and provide some benefits to buyers, but also have some drawbacks compared to regular tickets.
What Are Official Platinum Tickets?
Official platinum tickets are a type of ticket introduced by Ticketmaster in 2011. When tickets for an event first go on sale, Ticketmaster may hold back some of the best seats and designate them as official platinum tickets.
These tickets are not assigned a face value price like regular tickets. Instead, the price fluctuates based on demand. As demand for an event increases, so does the price of official platinum tickets. The goal is to price the tickets closer to their true market value.
Some key things to know about official platinum tickets:
- Priced dynamically based on demand
- Typically more expensive than original face value
- Usually the best seats in the venue
- Only sold through Ticketmaster and partner sites
- Clearly marked as official platinum tickets
- Not resold tickets – direct from the venue
Official platinum tickets should not be confused with regular platinum tickets on Ticketmaster. Regular platinum tickets also have premium pricing but are resold tickets. Official platinum tickets are directly sourced from the venue, not resellers.
How Do Official Platinum Ticket Prices Work?
Unlike most event tickets that have a set face value price, official platinum ticket prices fluctuate based on demand:
- When an event first goes on sale, official platinum tickets start around 20-30% above the highest non-platinum ticket price.
- As an event sells out, platinum ticket prices increase. The rate of increase depends on how quickly and completely the event sells out.
- For very high demand events that sell out instantly, platinum tickets may be priced 4-5 times the original face value or sometimes even higher.
- In lower demand scenarios, platinum tickets may only end up a fraction higher than face value.
Ticketmaster uses proprietary algorithms to dynamically price official platinum tickets. Factors considered include:
- Sales velocity – how fast regular tickets are selling
- Inventory remaining – percentage of tickets still available
- Market value – prices paid on secondary markets like StubHub
- Price sensitivity – how demand responds to price changes
Prices are constantly updated based on the latest sales data. Prices can change minute to minute, sometimes increasing or decreasing significantly in a short window.
Pros and Cons of Official Platinum Tickets
There are some benefits but also drawbacks to buying official platinum tickets instead of regular tickets.
Potential benefits include:
- Access to the best seats – platinum tickets are usually front row or VIP seats.
- No bidding wars – the fluctuating prices remove the need to outbid other buyers.
- Purchase directly from venue – unlike reseller sites.
- Guaranteed valid ticket – no risk of fraud or fakes.
- Refundable – platinum tickets can be refunded unlike many resold tickets.
The main disadvantages are:
- Higher prices – platinum tickets typically cost more than face value.
- Prices not fixed – you may pay more than someone who bought earlier.
- Lack of control – prices are set by Ticketmaster algorithms.
- Scarcity – only a limited number of platinum tickets are released.
Whether the benefits outweigh the cons depends on your priorities as a buyer. If you want the best seats no matter the price, official platinum tickets guarantee you access. But if price certainty is more important, traditional face value tickets may be a better option even for worse seats.
Examples of Official Platinum Ticket Pricing
To illustrate how official platinum ticket prices can fluctuate, here are some real examples:
UFC 229: Khabib vs. McGregor
This major UFC event sold out in 3 minutes. Official platinum ticket pricing:
- Initially priced at $1,245 per ticket when sales began.
- Within 15 minutes, prices increased to $1,469 per ticket as inventory diminished.
- After sellout, prices reached $2,027 per ticket – nearly double the original platinum price.
Meanwhile, face value tickets started at $205 per ticket before sellout. So platinum tickets ended up nearly 10X face value prices due to extreme demand.
NCAA March Madness Final Four
March Madness sees less instantaneous demand, leading to more moderate platinum prices:
- Platinum tickets started at $497 per ticket.
- Reached $514 closer to event.
- Ended up 2-3X the $150-250 face value ticket prices.
Non-Sellout Events
For events that don’t completely sell out, platinum tickets often remain very close to initial pricing:
- Concerts with sluggish sales may see platinum tickets only rise 5-10% over time.
- Sports games with empty seats sometimes have platinum tickets at or below face values late in selling cycle.
Rapid sellouts create the biggest price hikes for platinum tickets. Modest demand leads to slower price growth.
Should You Buy Official Platinum Tickets?
Here are some tips on when to consider official platinum tickets:
- When demand will be high – Buy early when prices are lowest to secure seats for hot events.
- For your must-see events – Paying more for your favorite artist or team may be worthwhile.
- If money is no object – Platinum prices don’t matter if you can afford the best seats.
- When time is limited – Buying platinum tickets avoids having to search multiple resale sites.
You may want to avoid platinum tickets when:
- On a budget – Paying 2X+ face value may not fit your budget.
- Unsure about attending – Reselling platinum tickets is riskier since prices can drop.
- For lower demand events – Small price premium not worth ticket limits.
- If fixed prices matter – You don’t want to overpay relative to other buyers.
Finding Available Official Platinum Tickets
To find official platinum tickets on Ticketmaster:
- Search for the event on Ticketmaster and select “Buy Tickets”
- If platinum tickets are available, you’ll see a “Official Platinum” ticket type option
- These will be labeled “Official Platinum” and priced above other ticket types
- A “Prices Vary” disclaimer notes the dynamic pricing
- Click the platinum ticket type to see available sections and prices
Availability depends on when you search – platinum tickets may sell out over time like regular tickets. Buying sooner maximizes your options.
You can also try checking back for new platinum ticket releases if previously sold out.
Risks and Downsides to Avoid
While official platinum tickets provide legitimate ticket access, there are some risks and downsides to consider:
- High prices – While market-based, platinum prices may exceed perceived value to you.
- Missing out on regular tickets – Focusing only on platinum tickets could cause you to lose out on cheaper regular tickets that sell out first.
- Limited inventory – Only a small subset of tickets are designated as platinum, usually the best seats.
- Sellouts still possible – Hot events can sell out including platinum tickets, leaving you empty-handed.
- Difficulty reselling – If reselling, market prices may drop below what you paid making it harder to break even.
Alternatives to Official Platinum Tickets
Some alternatives to consider include:
Regular Face Value Tickets
Buying regular tickets at original prices often costs considerably less than platinum tickets. The tradeoff is you may get worse seat locations unless you buy right when sales start.
Verified Resale Sites
Sites like StubHub and VividSeats let you shop for tickets from other fans. Prices depend on market demand rather than being dynamically priced. Guarantees protect from fraud.
Ticket Exchanges
For very high demand tickets, ticket exchanges like Lyte allow buying and selling face value tickets directly between fans. Can provide access without paying huge markup.
Concert Package Deals
Some artists sell premium concert ticket packages with perks like exclusive merchandise, meet and greets, early access, etc. These can provide VIP treatment at fixed package prices.
Wait for the Day-Of Sale
Trying your luck with box office day-of sales can sometimes yield leftover tickets below market prices. Risk is availability is limited.
Conclusion
Official platinum tickets occupy an interesting space between face value and secondary market pricing. They provide guaranteed ticket access to top seats and events. But the dynamic pricing means you may pay a premium versus buying early or finding other ticket sources.
For high demand events platinum tickets are one option, but come with some unique pros and cons. Understanding how official platinum tickets work and when the premium costs may be worthwhile is key to deciding when to purchase them. With patience and persistence, deals can also sometimes be found through regular or resale tickets too.