UPDATE 2:15 P.M.: After going as low as $200 on Stubhub on Monday, tickets for this weekend have rebounded to a little bit over $300.
That's because inventory is shrinking as the event gets closer.
As recently as three days ago, there were 700 Coachella Weekend 2 badges listed on secondary markets. But as of today, there are only about 200 or so available, according to ticket aggregator Seatgeek.
"The average price for Coachella badges has actually risen slightly in the past 24 to 48 hours, with General Admission badges selling for an average of $250.34 in that time span," Seatgeek spokesman Will Flaherty told me. "That compares to an average of $222.20 for badges sold a little less than a week ago, from the period of April 9th thru April 11th."
Flaherty says Coachella is unique because there are no digital tickets. You need a physical wristband to get in.
"Particularly as Coachella is an event where the bulk of attendees travel into the concert site, we've seen the quantity of badges available fall at a fairly sharp rate in recent days, as many sellers may fear that they'll be able to fulfill any orders they receive at the last minute due to shipping and logistical concerns," Flaherty said.
EARLIER: Attention everyone: Coachella is having a 40 percent-off sale!
If you’ve always wanted to go to the music and arts festival, but been scared away by high-ticket prices, clear your schedule this weekend.
General admission tickets for the second weekend of Coachella were as low on $200 on Stubhub yesterday. Tonight, they've rebounded to near $300, still a substantial discount from the $350 face value.
It’s the cheapest Coachella tickets have been in recent memory. (It’s worth noting that the festival strongly discourages buying tickets from any third party)
According to ticket aggregator Seatgeek, tickets for this weekend are averaging $370 compared to $526 for the first weekend. (Those numbers are higher because they include VIP packages).
Seatgeek lists tickets below $200.
So why are prices plummeting? Here are three theories. Weigh in with your own in the comments section.
The sandstorm effect
This weekend saw very long lines, scorching temperatures, and even a blinding desert sandstorm.
Perhaps reading about all those unpleasantries on Twitter didn’t whet people’s appetite for a second weekend.
When promoter Goldenvoice announced they were adding a duplicate weekend last year, the move was met with skepticism from the Coachella faithful who like to think they are having a unique experience that will never happen again. Now it does happen again, a few days later.
When Alex Kapranos of the band Franz Ferdinand finished his set Saturday night he told the crowd, “Thanks, we’ll see you next weekend.” The audience seemed disappointed to be reminded that their experience wasn’t so special afterall.
Coachella also loves surprises, and there’s little hope of getting any surprises the second weekend.
Last year, the Tupac hologram created international headlines the first weekend. By the second weekend, it was old news.
That’s why the first weekend sells out much more quickly than the second weekend.
Coachella’s reunion heavy line-up was greeted with considerable disappointment when it was released, and the performances over the weekend didn’t do much to prove the doubters wrong.
The Stone Roses played a pitch-challenged set where the crowd was so sparse you could practically walk up right up to the stage.
Saturday’s headliner, Phoenix, played the smaller Outdoor stage three years ago. They gave the strongest performances of this year’s headliners, but some in the crowd seemed more interested in a Daft Punk appearance that never happened.
Nothing against the Red Hot Chili Peppers, but they were regarded as an uninspired choice to close Coachella. They’ve played the festival twice and performed at Staples just last year. Their show seemed to “lack a certain spice,” according to the L.A. Times.
The question is whether promoter Goldenvoice is worried about the softening demand.
The whole point of adding a second weekend appeared to be to allow Goldenvoice — rather than scalpers — to reap more of Coachella's windfall.
No matter how low prices go on the secondary market for this weekend, Goldenvoice already has its money because this weekend is sold out.
It will be interesting to see how quickly tickets are snapped up next year. Is it possible Coachella has peaked?
It’s an intriguing question, especially as Goldenvoice looks at adding two fall events under a new 17-year agreement it signed with the city of Indio.
Were at weekend one of Coachella 2013? What did you think of the festival? Let us know in the comments. Also, share your photos with us.