The Formula 1 Grand Prix in Las Vegas is quickly approaching, and ticket prices are dropping rapidly. TickPick reports that prices have decreased by 23% for Saturday night’s main event since last week, with the lowest price for a grandstand ticket now at around $800. This marks a significant 50% drop from last month when the cheapest ticket sold for $1,645, and a 60% decrease from last year’s initial low price of $2,000.
The practice and qualifying sessions are experiencing even steeper declines in ticket prices. Grandstand seats for Thursday’s practice session, which went for $919 last year, are now priced at $119, an 87% decline. Similarly, Friday tickets for qualifying races, previously sold for $1,085, are now available for $259, marking a 76% drop.
The high cost of the tickets has been cited as a major reason for the lack of demand. Additionally, Max Verstappen and Red Bull’s 2023 World Championship win is expected to contribute to their dominance at the Las Vegas Grand Prix, further impacting ticket sales. Other potential factors include the cold weather and the declining popularity of Netflix’s “Drive to Survive” F1 documentary series after five seasons.
TickPick CEO Brett Goldberg expressed his belief that F1 will likely lower the prices of grandstand seats for the 2024 Las Vegas Grand Prix based on the current public demand. Despite the decreasing prices, Goldberg still expects the three-day event to be well attended, as falling prices are seen as a method for supply to meet demand.
Approximately 105,000 visitors are expected to attend the race, which is scheduled for 10 p.m. on Saturday. With ticket prices continuing to plummet, it is anticipated that even more attendees may seize the opportunity to experience the excitement of the Formula 1 Grand Prix in Las Vegas.