NY Jets' Big Win: The Seat Auction (Update I)
Update I: Jets PSL Prices Coming Down
The prices to the Jets personal seat licenses for the Coaches Club have come down in Day 2 of the sale. Through the first 17 auctions, all concluded by 12:30pm ET, the average PSL sold for $22,352. After Day 1, the PSL average was nearly $28,000, but that was buoyed by two lots that sold for more than $60,000.
The Jets are hoping to average more than 25,000 per PSL for 2,000 of the most premium seats that are being auctioned on eBay's StubHub through next Sunday.
Stay tuned to this page throughout the day for more updates.
The New York Jets lost the game Sunday in overtime to the Oakland Raiders. But they apparently won against those — including this blogger — who didn't think they could raise $25,000 per personal seat license for the best seats in their new stadium, in these hard economic times.
The top two PSL prices from yesterday were $65,100 (each for two seats) and $61,100 (each for four seats) for first-row 40-yard line seats. But the key number is the average, which you will only find here on CNBC today. Because an auction disappears every time it is completed and the Jets didn't give out the numbers, I spent hours watching every sale on eBay's Stubhub yesterday.
The first 35 lots, which each had in between two and five seats in it, averaged just under $28,000 per PSL.
"We are pleased with the first day of the auction," said Jets spokesman Bruce Speight. "There are a lot more great seats to come."
The first lots closed at around 7:30pm on Sunday — around the same time the Raiders' Sebastian Janikowski was kicking a 57-yard field goal to beat the Jets. The next lot closes at 10:30am ET on Monday afternoon.
The Jets will be auctioning off personal seat licenses in the Coaches Club, the top-of-the-line experience the team will offer in the new $1.6 billion stadium opening in 2010, through next Sunday. The team will charge in between $4,000 and $25,000 for other PSLs throughout the season. Approximately 27,000 upper deck seats will not carry licenses.
This was a huge bet for the Jets. If these seats don't average more than $25,000 per PSL, you could imagine how hard it will be to put that price tag on PSLs attached to seats that weren't as good. But early indications show the Jets really nailed it.
Of course, early indications are exactly that and the Jets — as well as curious onlookers — are going to wonder, as the auctions continue, how far down the average will drop.
The cheapest PSLs sold went later in the night, when some of the enthusiasm died down, though some might say it had plenty to do with what was being offered: Two 30-yard line seats in the 15th row sold at 10:30pm with a price of $14,500 per PSL. A 40-yard line, 15 rows up, sold 10 minutes later for a price of $16,600 per PSL.
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