The Jets have decided to auction off their PSL's (Personal Seat Licenses) recently. Although some people don't understand the whole concept, from my understanding the consumer is buying the right to buy tickets in these seats. Although this may seem weird, it makes perfect sense. Although there may be some people next to you that paid 10,000 dollars less than you for their seats, it makes consumers pay their reservation prices for the seats. That is the highest price that they are willing to pay. There have been many articles posted about this subject and I think it is brilliant of teh New York Jets. Just another great way for a team to maximize profits. Marketers have worked very hard along with the Jets to get the news out that an auction was going to be held to purchase PSL's and they were very successful. The day after the first article was posted we talked about it in my sports economics class.
http://www.nflauction.nfl.com/cgi-bin/ncommerce3/User?id=nyjNFL&wl=65664914&type=A
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I think that it's simply supply and demand. It's crazy to me that fans are willing to pay so much money just for the right to buy tickets, but if it is worth it to them it's a great move for the Jets.
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