Technology start-up SeatGeek has created a new platform which calculates how much a ticket is worth.
The company launched its web and mobile marketplace last year, at which customers could buy and sell tickets, however it is now offering a standalone price recommendation feature.
SeatGeek said its recommendations have been proven to work, with 85% of tickets listed on its marketplace selling within 12 hours. It also said users who take advantage of its recommendations see a 15% higher sell-through rate than those who do not.
SeatGeek co-founder Jack Groetzinger said in a statement that the feature considers factors such as the location of a seat and historical sale data.
“The idea is to make it a utility,” Groetzinger told the TechCrunch website. “It’s not just for sellers on SeatGeek – maybe they don’t even want to sell the tickets but just sort of see what they’re worth.”
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