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Jets Rep conversation (Deprecation)


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My intentions here are NOT another PSL pro/con debate. Just rather Id like opinions.

As some of you know I absolutely hate my seats. I have 4 seats in 202A Row 2. I feel they are just simply too far from the field. I have been kicking around the idea of dropping 2 and moving 2 in one of the goal line sections. The purpose of this thread is not to debate the goal line seat, the mezz end seat or any other seat. In keeping 2 they will let me roll all my PSL payments and initial  deposit from 4 seats into 2. The reason id keep just 2 is I can't afford and do not want to get 4 seats for a 7500 PSL each. 

I was considering this cause I don't want to loose my payments I have made and wanted to keep some form of season ticket. But obviously id be signing a new agreement. My question is this, don't you think that almost 8 years into the new stadium that there should be some decreases to the PSL? Shouldn't something that is facing time decay deprecate like a car? This is whats holding me back. In looking at secondary markets for PSL they all seem to have some deprecation built in based on lower prices.

Part 2 of my question is would you PSL owners who either paid 5 year and paid off, or paid in one lump be upset if they did lower based on time decay? At what point will they be forced to lower? in 5 years or so the stadium will be halfway done. (I think this stadium lasts 25 years tops) Buying a full priced one now bothers me, in a few years its like catching a falling knife.

What are your thoughts?

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Well, there should be a decrease.  

If the stadium is expected to last 30 years, the initial PSL was for a ticket that would last for 30 years.   Not it's for a ticket that will last 22 years, or about 73% as long.  To me, that does not have the same value.  But, Woody didn't ask me.

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I love how thoughtfully you've posed these questions. Thank you for that.  A few thoughts...

You could buy psls on the secondary market, presumably at a discount, and then sell yours. I assume you might have to take a loss on yours, so that might not help. I also know if you have hit the limit of what you want to spend on this, the concept of taking on more tickets and payments is tough to swallow.

You could get new psls on secondary market and keep your others then sell them game by game until you get a price you like on the old ones.  Or, buy seats you like week to week until you can sell your old ones. I think in general selling individual seats early is better and then buy new ones a day before the game. This can backfire if the jets get hot but I think will usually work.

lastly, I guess I would be a little put off if the jets lowered psls now. I know conceptually they *should* as you note. But that was never stated. And if they lower them that probably decreases the value of mine, so yeah I'd be a little put off. All that said, I have no plans to sell and plan to go as long as I can afford the tix and my life situation allows it.

good luck!

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22 minutes ago, chirorob said:

Well, there should be a decrease.  

If the stadium is expected to last 30 years, the initial PSL was for a ticket that would last for 30 years.   Not it's for a ticket that will last 22 years, or about 73% as long.  To me, that does not have the same value.  But, Woody didn't ask me.

Using an inflation calculator,  a $4,000 PSL in 2008 has the equivalent value of $4,445 in 2016, or dollar-for-dollar inflation of 11%. 

We are 6 years into a 30 year commitment, or 20% of the way in.  Using today's equivalent deflation of 11% it looks like this:

 

$3,560 (value of original full PSL in today's dollars)

$2,848 (value of 80% remainder of PSL life in today's dollars)

---------

$712 (reduction one should expect for PSL remainder in today's dollars)

 

$712 over the remaining 20 years and 10 games per year is $3.56 per game, hardly a detriment to anyone looking to purchase first time PSL's today from the Jets.  As for the original PSL buyers in 2008, the Jets shockingly did not raise ticket prices for 8 years, do the math, assume a $50 per game increase in a brand new stadium that didn't happen, it paid for the PSL's anyway, quite a bargain in retrospect.

SAR I

 

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25 minutes ago, chirorob said:

Well, there should be a decrease.  

If the stadium is expected to last 30 years, the initial PSL was for a ticket that would last for 30 years.   Not it's for a ticket that will last 22 years, or about 73% as long.  To me, that does not have the same value.  But, Woody didn't ask me.

Thing is you can't say it's 3 bucks/game. We don't pay it on a per game basis. There's deposits of 10% to pay, and yearly of 400 per year per seat on the 15 year, of 800 per seat on the 5 year. 

Based off the 400 per year pmt (15 year plan) it's actually 40 bucks a game over the 15 years, hardly 3 bucks a game. 

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On 6/1/2016 at 7:17 PM, Section 333 said:

My intentions here are NOT another PSL pro/con debate. Just rather Id like opinions.

As some of you know I absolutely hate my seats. I have 4 seats in 202A Row 2. I feel they are just simply too far from the field. I have been kicking around the idea of dropping 2 and moving 2 in one of the goal line sections. The purpose of this thread is not to debate the goal line seat, the mezz end seat or any other seat. In keeping 2 they will let me roll all my PSL payments and initial  deposit from 4 seats into 2. The reason id keep just 2 is I can't afford and do not want to get 4 seats for a 7500 PSL each. 

I was considering this cause I don't want to loose my payments I have made and wanted to keep some form of season ticket. But obviously id be signing a new agreement. My question is this, don't you think that almost 8 years into the new stadium that there should be some decreases to the PSL? Shouldn't something that is facing time decay deprecate like a car? This is whats holding me back. In looking at secondary markets for PSL they all seem to have some deprecation built in based on lower prices.

Part 2 of my question is would you PSL owners who either paid 5 year and paid off, or paid in one lump be upset if they did lower based on time decay? At what point will they be forced to lower? in 5 years or so the stadium will be halfway done. (I think this stadium lasts 25 years tops) Buying a full priced one now bothers me, in a few years its like catching a falling knife.

What are your thoughts?

I was originally in the Mezz corner and, after a few events, became completely disenchanted with those corner seats.  Waaaay too far from the field fro my taste and expenditures.  Decent only when the plays were inside my side of the 50 and great when the play was within the 30. That was simply too high a percentage of time to have to be looking at the jumbotron to see the numbers on the jerseys for a play I just watched on the other side of the field.  The height and distance was the equivalent of upper deck corner at the old Giants Stadium, (which was confirmed by my original rep, Andy).  These seats do not move well on resale either.  

As far as the possible trade down going from 4 to 2 seats...  I went through a similar experience in a couple of my moves and let me tell you, the Jets are very concerned about anyone trying to reduce the number of seats.  Even if the total PSL cost for the two are greater than the four, they will resist allowing this.  Ultimately, they allowed me to reduce my number of seats but I nearly had to threaten with a lawyer to get it done.  I'd be happy to discuss the specifics via PM or call.  

As for your other question on depreciation...  not going to happen anytime soon, if ever.  Not a snowball chance in hell.  No matter how logical any argument for this may seem, it would be a public nightmare and an economic mistake for the Jets or Giants to even consider it.  Don't get your hopes up for that.  It's not going to happen.  And, by the way, the secondary prices were at 50-75% of face as early as year 2 of the stadium.  Even lower than 50% in the endzones and corners.  Sidelines between the 20's is going at about 50-75% now and Mezz corners and endzone are going for about $500 - $1,000 per PSL (about 15-25% of original cost).  The Lower Goal lines probably somewhere between 25-40% of original PSL cost.  The Jets are fully aware that this is the real value, but anyone who approaches them about it still must pay full PSL face value.  You might be better off dumping your PSLs privately for whatever you can get (even 15% of original) and then buy better PSLs on the secondary for the same or similar percent on the dollar.  I would forget about using the Jets unless you can stomach full price.  But getting them to allow you to reduce seats is going to be tough.  I was explicitly told that they will only do so if you move to club seats (LOL).  So the secondary market might be your best option, I'm sorry to say.

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8 minutes ago, Dcat said:

oh the irony of the thread title...."deprecation" (vs "depreciation"). 

Yup... not only has the value depreciated... (like 50% in year 1), but we purchasers have for sure been the victims of deprecation from the Jets as well. 
Probably the most appropriate misspelling I have ever seen on this board.  

lol.. I laughed at that title too.

i know you don't want to turn it into a "best seats debate" but mezzanine are great seats IMO. I would hate to give up tickets to just move to the lower level goal line. 

However, I DO like the last few rows of the lower levels.

sorry again for going off your intended course, but, counting PSL costs,  what do those who know the seating and the prices say are the best bang for the buck in the house? 

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3 hours ago, Dcat said:

I was originally in the Mezz corner and, after a few events, became completely disenchanted with those corner seats.  Waaaay too far from the field fro my taste and expenditures.  Decent only when the plays were inside my side of the 50 and great when the play was within the 30. That was simply too high a percentage of time to have to be looking at the jumbotron to see the numbers on the jerseys for a play I just watched on the other side of the field.  The height and distance was the equivalent of upper deck corner at the old Giants Stadium, (which was confirmed by my original rep, Andy).  These seats do not move well on resale either.  

As far as the possible trade down going from 4 to 2 seats...  I went through a similar experience in a couple of my moves and let me tell you, the Jets are very concerned about anyone trying to reduce the number of seats.  Even if the total PSL cost for the two are greater than the four, they will resist allowing this.  Ultimately, they allowed me to reduce my number of seats but I nearly had to threaten with a lawyer to get it done.  I'd be happy to discuss the specifics via PM or call.  

As for your other question on depreciation...  not going to happen anytime soon, if ever.  Not a snowball chance in hell.  No matter how logical any argument for this may seem, it would be a public nightmare and an economic mistake for the Jets or Giants to even consider it.  Don't get your hopes up for that.  It's not going to happen.  And, by the way, the secondary prices were at 50-75% of face as early as year 2 of the stadium.  Even lower than 50% in the endzones and corners.  Sidelines between the 20's is going at about 50-75% now and Mezz corners and endzone are going for about $500 - $1,000 per PSL (about 15-25% of original cost).  The Lower Goal lines probably somewhere between 25-40% of original PSL cost.  The Jets are fully aware that this is the real value, but anyone who approaches them about it still must pay full PSL face value.  You might be better off dumping your PSLs privately for whatever you can get (even 15% of original) and then buy better PSLs on the secondary for the same or similar percent on the dollar.  I would forget about using the Jets unless you can stomach full price.  But getting them to allow you to reduce seats is going to be tough.  I was explicitly told that they will only do so if you move to club seats (LOL).  So the secondary market might be your best option, I'm sorry to say.

Good post. 

 

The guy I spoke with guaranteed me I could go from 4 to 2, only if the psl was more. Maybe they have a harder time selling those.

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3 hours ago, Shadetree said:

lol.. I laughed at that title too.

i know you don't want to turn it into a "best seats debate" but mezzanine are great seats IMO. I would hate to give up tickets to just move to the lower level goal line. 

However, I DO like the last few rows of the lower levels.

sorry again for going off your intended course, but, counting PSL costs,  what do those who know the seating and the prices say are the best bang for the buck in the house? 

135 & 142. Although 137 and 140 are better sections, the PSL is double that of 135/142.

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39 minutes ago, Section 333 said:

Good post. 

 

The guy I spoke with guaranteed me I could go from 4 to 2, only if the psl was more. Maybe they have a harder time selling those.

Well they sure put me through the wringer when I wanted to go to fewer seats, even though the aggregate PSL cost was 10K more than the aggregate of the ones I was trying to give up. There were multiple conversations with several higher ups and it was getting ugly. They did finally relent after several days of nasty back and forth. 

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