ReverseTicket's dynamic pricing system is based on reverse auction. The name can be misleading. Unlike a traditional auction, ReverseTicket's dynamic pricing system is fair and predictable.
This innovative pricing method:
- maximizes customer satisfaction and;
- maximizes organizer's revenue;
- while it reduces scalpers and reselling.
As a result:
- Nobody with malicious intent will have the interest in re-selling tickets at a high price;
- for the fans: ReverseTicket makes buying a ticket seamless;
- for the organizer: generates more revenue.
The latter group can now chose to improve the quality even more or to increase the quantity of events with the surplus money.
How does it work?
The sale starts with a high price that decreases continuously and predictably over time. This can be visible or hidden from the customer according to the preferences of the organizer.
If the buyer feels the price is right for them, books his tickets. We do not draw money from his card just yet, but lock it.
As soon as the last ticket is sold, the sale closes and everyone pays the same amount as the last buyer. The margin will be released on the cards of previous purchasers. If not all tickets are sold, the sale closes at the time and price set by the organizer. This price is suggested to be the current minimum price.
- the sales period will be extended, giving fans time to buy their tickets;
- everyone will pay the last, lowest price, uniformly, fairly;
- if the demand is high, this price will be high, therefore it increases the organizer's revenue.
Have any questions? Feel free to contact us anytime or read a more detailed description here.