Augusta, GA, United States (4E Sports) – People who want to watch Tigers Woods go for a fifth green jacket will have to shell out more than $7,000 for each badge on the Masters’ ticket resale market.
The amount is the highest for the major since 1997, when Woods won the first of his five green jackets and first of 14 major championship.
During that time, prices soared above $7,000 and some badges sold for as much as $11,000 each as people wanted to see the young Woods in action.
Now, ticket prices are soaring after Woods revitalized his career with three wins this year that returned him to No. 1 in the world rankings.
Also, a contributing factor to the soaring ticket prices is Augusta’s close proximity to the Final Four venue and a more stringent effort by Augusta National to make it tougher to scalp tickets.
“I have never seen anything like this,” said Patrick McGee, whose sports and entertainment marketing firm has taken care of corporate clients in Augusta for the past decade. “It’s the combination of the Final Four being in Atlanta, Tiger as well as a more stringent effort by Augusta National to make it tougher to scalp tickets.”
“It’s the first time I’ve seen prices at this level since 1997,” said Scott Jernigan, executive vice president of Premiere Global Sports, a sports hospitality company based in Raleigh, North Carolina who has been working the Masters ticket business for the past 19 years.
The Masters is the only big event in which tickets are distributed instead of being sold to the general public.
Since Augusta National cares more for tradition, it distributes four-day badges to those close to the club and community at $250.
Now, a ticket for Tuesday’s practice round, which have a face value of $50 for those lucky enough to either be patrons of Augusta National, are now selling for nearly $1,000. In fact, one ticket sold for $1,083 on Stubhub on Sunday.
The lowest asking price for the 18 four-day badges available on Stubhub Monday morning was $10,001.
“The ticket always spikes a bit, but there’s always a sense that demand will be filled,” Jernigan said. “Not this year. If the people who are selling the hospitality packages don’t pay the price they need to pay to get the badges, they have to cancel their entire business.”
Tickets for the Tuesday and Wednesday practice rounds, which usually are resold for between $150 and $250 a day, are getting a boost due to the Final Four.