The high-roller lifestyle would always make the Formula 1 Las Vegas Grand Prix an expensive endeavor — but the demand didn’t match the supply in the week leading up to the big race.
In the last two months, average list prices for a three-day ticket to the event have dropped 28% to $3,091 on the secondary market, according to data provided to Front Office Sports from ticket aggregator TicketIQ.
Average prices for one-day passes on Thursday (-36%, $431), Friday (-27%, $843), and Saturday (-33%, $1,701) have also seen significant decreases.
The minimum prices to attend the highly anticipated event are falling, too. According to data provided to FOS by ticket marketplace TickPick, the “get-in” price is down an average of 63% across all three days since the cheapest tickets were sold a month ago.
Since tickets went on sale in 2022, TickPick says the cheapest Saturday tickets have fallen from $1,622 to $772 (-52%), Friday from $1,085 to $235 (-78%), and Thursday from $919 to $128 (-86%).
Granted, these prices are coming down from ridiculous heights, even by F1 standards — and some wealthy fans have already paid exorbitant sums.
TickPick notes that its most expensive purchase was for two Paddock Club passes for $13,315 each. TicketIQ says the priciest Saturday ticket on the market will cost $28,528, while the steepest three-day pass will cost $30,680.
It started on the primary market, where the Las Vegas Grand Prix had by far the most expensive average three-day ticket price ($1,667), per ESPN and Formula Addict.
And then there are the packages being offered by Las Vegas resorts. Last November, Wynn Las Vegas announced a $1 million package for the weekend; not to be outdone, Caesars Entertainment began offering a $5 million package.