NBA Secondary Market Recap (March 30-April 5, 2015)
The NBA secondary market for March 30-April 5, saw some incredible action by the San Antonio Spurs-Miami Heat contest on March 31, which had the highest MCAP ($1.56 million) out of all of the resales during that period. The Golden State Warriors-Dallas Mavericks matchup shined, hitting $1.118 million MCAP against a $143.86 ARP – $78.86 GIP. The Top Five was rounded out by a $1 million MCAP surprise when the New York Knicks-Washington Wizards April 3 game. Of course, the MCAP only judges the potential value of the tickets, where the GIP for that game was $19.86, among some of the lower of the entire week.
NBA Secondary – March 30, 2015
The Houston-Toronto Game showed a lot of muster with an $819k MCAP against 1,395 SVG. It also had the highest line across the board with a line of $80.71 ARP – $114.29 MLP – $43.71 GIP. But this was not a night of heroes as much as dismal returns collectively for the secondary, as many of the games had low-dipping GIPS on the marketplace.
The abysmal GIPs for Boston-Charlotte ($12.29) and Utah-Minnesota ($9.71) would have normally been the worst. However, the Sacramento-Memphis game was surprisingly dour with a $3.71 GIP against 1,186 SVG ($251,953 MCAP overall). While it was a Monday night contest, there was little excuse for why service fees should be higher than the actual get-in price for the ticket at all.
March 31, 2015
When Golden State visited The LA Clippers, there may have only been 698 listings averaged on the secondary, but resellers made the most of it by a long-shot. A $226.71 ARP – $109.86 GIP not only won the night, but a $241.86 MLP actually inflated the MCAP to $1.59 million, something that shouldn’t be done with such low inventory on the market place. Yet this was a game that people wanted to go to, so it pushed up the value potential. The Spurs-Heat contest, which had the highest MCAP of the entire March 30-April 5, 2015 period, had 1,360 SVG of inventory sitting out there, which helped buoy a $66.57 GIP against a $162.57 ARP.
Even on a limited Tuesday night of action, the glory of the top two games did nothing to hide the lost value in the bottom two. Indiana-Brooklyn carried a $9.14 GIP against a motherlode of seating inventory: 3,225 SVG just rotting out there off of a $66.07 MLP. Since the ARP was $38.14, there has to be some question of what the brokers were thinking in terms of demand, since it was not there. Not to be outdone was the Atlanta-Detroit matchup, where a $28.86 ARP – $33.93 MLP at the Palace was not as horrifying as the $4.14 GIP – 1,870 SVG – $414,636 MCAP. Basically, a lot of brokers were pumping and dumping on this game, trying to squeeze out the last of the value available as the NBA season winds down, and ended up collapsing what little demand was on the marketplace overall.
April 1, 2015
A full slate of 12 NBA contests showed off the Brooklyn-New York battle with a $1.039 MCAP off a $131.43 ARP – $94.29 GIP against 1,125 SVG. There were some vast scoring wins in the mid-thirties for most resellers capturing what they could off of the last few games of the season, hitting a $95.71 ARP off the Bulls-Bucks matchup and some solid action off of Sacramento-Houston ($89.57 ARP), Clippers-Trail Blazers ($88.57 ARP), Mavericks-Thunder ($84.86 ARP). But after that, the secondary started to see some very deep cuts in value.
Four NBA games sported GIPs lower than $11, and two of them with GIP offerings of less than $8.15, it stands to reason that the last vestiges of value are starting to peter out of the those teams which were eliminated from the standings in December. One of the highest deflated MCAPs was a $642k showing from the Philadelphia-Washington game, which held an $8 GIP against 2,887 SVG. That served as the lowest GIP and highest seat listing average of the entire night.
April 2, 2015
While there were only three games on the docket, it is the mark of a true champion on the secondary when they fall that shows brighter than another game with a solid return. Only the Phoenix Suns’ visit to the Golden State Warriors could collapse a resale bonanza that had been occurring at Oracle Arena. Though a $112 ARP – $185.71 MLP seems fairly consistent with the fantastic measurements of Golden State games, it is the $12 GIP that appears the most shocking, despite being measured against a 432 SVG ($340k MCAP).
April 3, 2015
The Pistons-Bulls meeting at the United Center turned some heads on the secondary, showcasing a $112.57 ARP – $70 GIP off 1,180 SVG for a $919k MCAP. That was tops for the night, although the MCAP for the Knicks-Wizards contest served as an outlier, bellowing a $1.007 million MCAP against 2,439 SVG, but only showing a $56.43 ARP – $19.86 GIP. The Knicks have been a mirage the entire season, with a lot of inflated MLPs and few takers from secondary market customers to justify it, yet it is New York, so every reseller thinks those tickets will move.
There were a lot of lower GIPs on the night, with seven of the 10 NBA games sporting a GIP lower than $30 and two of which were below $20. The Hornets-Pacers 1,170 SVG against a $15.43 GIP may have been the lowest of the night, but still better than by comparison of the some of the other contests recently.
April 4, 2015
The Golden State-Dallas line of $143.86 ARP – $78.86 GIP completely out-performed the other nine NBA games on the slate, shining with a $1.118 MCAP that was almost $400k higher than any other game on the schedule for the night. While the ARP for the Celtics-Raptors ($89.71) and Pelicans-Trail Blazers ($81.29) showed promise, it was the Orlando-Bucks ($39.14) and Miami-Detroit ($37.43) that did the NBA secondary no favors for resellers. Those two games also had dead-weight GIPs of $12.86 and $12.71 respectively.
April 5, 2015
The NBA resale value started a little rally for the last games of the week, showing off an ARP for the Bulls-Cavaliers ($175.71), Clippers-Lakers ($115.57) and Golden State-San Antonio ($110.71) that was worth cheering for. The bad news was that the SVG was so low on the majority of the NBA April 5 contests that none of the MCAPs topped $900k, thus the profits were few and far between for most standard brokers.
The Heat-Pacers surprised with a $12.86 GIP off 1,168 SVG – $549k MCAP and helped end one of the last remaining weeks of the NBA season with a loud thud.
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