Mayweather/Pacquiao fight on track to set ticket price records

LAS VEGAS (MEDIA GENERAL) – Want to attend the May 2 “Fight of the Century” between Floyd Mayweather and Manny Pacquiao? Good luck. Tickets are expected to go on sale Thursday, April 23 through TicketMaster and MGM Grand, the host of the event. But your odds of landing tickets? Not great.

Tickets for the bout are priced starting at $1,000, but less than 1,000 will be available at that price point, according to SeatGeek analyst Conner Gregoire, and most of those will be sold far above that mark on secondary markets.

Currently, tickets for the Mayweather/Pacquiao fight are on track to hold the highest median price for any sporting event in U.S. history. According to TiqIQ, the average asking price for tickets to the Mayweather/Pacquiao fight is $10,973, more than $500 than previous the titleholder – Super Bowl XLIX, played last February between the Seattle Seahawks and the New England Patriots.

“It is staggering, but the market is absolutely there,” Gregoire told CNN. “It’s a high roller, status event. I think it’s largely VIP and celebrity driven. There’s not a lot of regular folks who will be in the market for these seats.”

Like all markets, it simply comes down to supply and demand.

“Like other commodities, high prices for an event are a reflection of supply and demand,” said Chris Matcovich, vice president of data and communications for TiqIq. “In most cases, supply to the general public is limited, which then causes prices to rise. … With boxing inching toward ‘death,’ this might be the last great fight we see ever or for a long time. That being said, people are flocking to Las Vegas to catch one last glimpse of a sport that used to dominate American mainstream athletics.”

According to TiqIQ’s averages, the top three most expensive events have been held or will be held in the past nine months. The Mayweather/Pacquiao fight currently holds a slight edge over Super Bowl XLIX for the top spot, while the 2014 World Cup Final between Germany and Argentina finished third (average asking price of $9,015). The 2011 BCS national championship game between Oregon and Auburn is fourth with an average asking price of $5,036.

The question is: Will this trend continue to rise?

“I think there is a large base of consumers willing to buy the $5,000-10,000 resale tickets. … Once you get beyond $10,000, it does narrow the buyer pool,” Matcovich said. “Even with that, there might be some softening on the high-end tickets, but prices should stay fairly high.”

Not only are ticket prices to the Mayweather/Pacquiao fight expected to set records, but so are pay-per-view numbers. The pay-per-view price point has been set at $89.95, the highest ever for the television service. The previous watermark was $64.95 for Mayweather’s 2013 fight against Canelo Alvarez.

For those itching to get up close for the Mayweather/Pacquiao fight, you can try your hand at Vegas. Fans can attend the (usually free) pre-fight weigh-in – for an easy $10. You also can watch the fight at one of several Las Vegas casinos on a closed-circuit feed – for a cool $150.

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