Even Spike Lee has a price — or at least, someone thinks he does. The legendary filmmaker, arguably the one of the most famous New York Knicks fans, says he saw a staggering offer for his courtside seats to Game 3. His answer? Not a chance.
“I don’t wanna know. I read some numbers, some ungodly numbers, and I was just hoping my wife, Tonya, didn’t see it,” the Academy-Award-winning director said in a pregame interview with ESPN. “Well, I had season tickets before we got married, though. But it was half a million.”
This is the first time since 1999 the Knicks have made it to the finals, and their run has electrified the city, bringing fans into the streets and seat prices to new heights. Ahead of Game 3 on Monday, the cheapest upper-deck seats available were going for over $4,700 on resale platforms right before tipoff.
For mid-court courtside seats, reselling lists on StubHub have reportedly exceeded $330,000 at times for courtside seats.
But like Lee, the price is worth the experience for some die-hard fans.
“This is my son here, so taking him to the finals, you can’t really put a price on the experience,” Greg Weldon, who flew from Florida to attend the game, told TSN. “It’s like that commercial: The tickets, ridiculous; the hassle getting in, ridiculous — the experience, priceless.”
For some, the question of selling their tickets has been a difficult one — despite the possible massive profit.
In an interview with The Athletic, one Knicks fan said her father put his pair of Game 4 tickets up for sale at $14,000 each. Despite posting them for sale, the superfan was still weighing whether he should go. The tickets were sold before he could make a decision.
The sky-high prices even have some players raising their eyebrows.
“I kind of wish the ticket prices weren’t as crazy as they are,” Knicks guard Josh Hart said ahead of Game 3. “I feel like a lot of people who have been waiting for this moment for a very long time unfortunately aren’t going to get into the building.”
Game 4 prices fluctuate
Dynamic pricing, a strategy where pricing changes depending on supply and demand, and the craze has driven tickets to new heights. There has, however, been significant fluctuation in prices. As Game 3 approached, prices dropped from $11,000 for upper-deck seats to just below $5,000. The decline is likely also driven by dynamic pricing. The longer fans held out on buying the steep tickets, the more prices fell.
That fluctuation is expected to be seen again ahead of Game 4, especially after prices already dropped following the Knicks loss. The cheapest tickets are currently sitting around $4,000 apiece.
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Should you be splurging on tickets?
It can be hard to weigh your wants as a superfan with your financial reality. While the price for the NBA finals are at historic highs, the trend of rising ticket prices isn’t new. Take Taylor Swift’s record-breaking Eras Tour, where reselling tickets climbed into the thousands. Or Harry Styles’ latest tour where pre-sale tickets hit as high as $1,000 for lower bowl seats. With dynamic pricing impacting the cost of tickets, it’s important to be realistic about what you can spend on your favorite artists and teams.
A popular budgeting rule is the 50/30/20 split. The idea is fairly simple. You should allocate 50% of your after-tax income to needs and obligations. This includes things like food, rent or mortgage payments and insurance. It also includes debt payments.
30% can be spent on wants. Let’s say your favorite artist is going on tour and the tickets cost $500 a piece. You can use 30% of your income to cover this cost. The remaining 20% should be put into savings.
This breakdown allows you to cover both your needs and wants, while also saving for the future.
It is important to note that debt should always be prioritized. If you’re $5,000 in debt, it isn’t a good idea to spend that $5,000 on Knicks tickets. Securing your financial future is about balance, even if it means missing out on a historic sporting event.
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Rinna Diamantakos is an assigning editor at Moneywise.com. A versatile journalist, she has experience as a writer, editor and producer. Her work has focused on politics, business and financial news.
