Would you pay 6x face value to see Hamilton on Broadway?

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saltycaper
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by saltycaper »

Would I consume something today that I can consume in the near future for a much lower price? The list of items is small. A Broadway ticket is not on the list.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by AlohaJoe »

mevans154 wrote:So my question is to all of you Bogleheads out there is would you pay 6x face value to see a three hour performance of the hottest show on Broadway?
I wouldn't take face value of the ticket into account when making the decision. Otherwise you're falling prey to the well known anchoring bias. I would look at how much the ticket would cost me and make a decision based on that.

In general, I've found that when I was on holiday and skipped out on experiences because they were "too expensive" I usually ended up regretting it. After all, it isn't like I'm likely to ever go back to Macchu Picchu or Ayer's Rock or the Kauai. And what did I end up spending that $500 or $1000 on afterwards, anyway? Some Starbucks coffee? Slightly nicer restaurants dinners in my home town? I don't even know....it just kinda evaporated :)

But obviously there's some limit....it isn't like I stay at $2,000 a night hotels every time I travel either.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by denovo »

mevans154 wrote:So my wife is dying to see Hamilton on Broadway, and the show is sold out until early next year. The original cost for a Orchestra ticket is $177 but there are people selling (scalping) on-line from anywhere between $950 to $1,500 per ticket. It's not an issue of whether or not we can afford it, as if we did buy the tickets it wouldn't take any food off of the table.

So my question is to all of you Bogleheads out there is would you pay 6x face value to see a three hour performance of the hottest show on Broadway?
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HIinvestor
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by HIinvestor »

To the Q of how much of a premium I'd pay--at this point no premium. Would consider buying full price tickets only.

I'm concerned that H will have a hard time hearing and enjoying Hamilton because many of the lyrics are spoken rapidly and it will bother him not to hear them and make me crazy if he asks me what they said.

I am quite patient about waiting for shows to make their way to my hometown. I'm honestly not sure how much I or H will actually LOVE it.

If and when we will be seeing it, we will likely try to listen to and/or read the lyrics, so we can get fuller enjoyment. At the moment it's honestly not high on our list.
island
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by island »

I don't consider myself a "frugal" Boglehead, by any stretch compared to many on this board, and spouse and I enjoy "consumables" on a regular basis: theatre, symphony, concerts, travel, restaurants, etc, but would I pay THAT for tickets? No way! It's not going anywhere, wait and pay face value rather than a sucker price from a scalper.

I've seen countless first run shows in NYC, elsewhere before they hit Broadway, original cast, blah, blah. Never paid more than face value and never lost any enjoyment from waiting a few months if I had to.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by epoxyresin »

Hamilton will still be playing next year. And the year after. Unless you really (really really really) want to see the original cast, is it really worth that much money to see it now rather than later?
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by Abe »

No, I wouldn't pay 1 x face value.
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sambb
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by sambb »

if you can afford it, and it makes you happy, and you have saved enough, then why not treat yourself to a luxury that doesn't jeopardize your retirement? It doesn't matter what the luxury is.

If you are asking if it is a good value, that is a personal question and no one person can guide you. Some would have 5 million invested and drive a 1999 camry, others are ok with 4.9 million and drive a 2016 luxury car.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by michaeljc70 »

No. There is no show I want to see that bad (and I see a good number). I wouldn't pay 6x face/retail for anything. Patience is a virtue (and money saver).

I'll add that giving a big number of Tony's to one show is the new thing and doesn't indicate a great show.
ponyboy
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by ponyboy »

lol...I wouldnt even pay face value to see that show let alone 6x as much.
CrossOverGuy
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by CrossOverGuy »

Lin-Manuel Miranda has had an alternate who plays 1 or 2 performances a week as well as being his understudy (including the performance President Obama attended). The word around Broadway circles is that he's a much better performer and singer than Miranda; his name is Javier Munoz, and he'll be taking over from Miranda in July. I've seen Miranda on stage in Sondheim's "Merrily We Roll Along", and he's not a very good singer -- you can tell this by listening to the "Hamilton" recording. He can rap well, and his writing is very interesting indeed. However, the show is something of a gimmick in the fact that if the show had cast non-minorities in the original non-minority historical roles, it wouldn't have received as much press and hype. The performers cast are very talented though -- some beautiful voices in the cast, especially the women.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by gkaplan »

michaeljc70 wrote:No. There is no show I want to see that bad (and I see a good number). I wouldn't pay 6x face/retail for anything. Patience is a virtue (and money saver).

I'll add that giving a big number of Tony's to one show is the new thing and doesn't indicate a great show.

My brother and sister-in-law saw it several months ago and really raved about it.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by JMacDonald »

I think it is great that Hamilton is driving new audiences to live theater as I go on a regular basis to the performing arts. However, this is a show I will pass on since I don't care for the music. I see a lot of Broadways shows on tour and most of the time, the performances are great. I recently saw The Book of Mormon. I doubt that the show on Broadway could have been much better then what I saw on tour for a lot less money. Yet, a weekend in NYC and going to see a hot show can be worth it if money is not a problem. So go for it.
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michaeljc70
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by michaeljc70 »

gkaplan wrote:
michaeljc70 wrote:No. There is no show I want to see that bad (and I see a good number). I wouldn't pay 6x face/retail for anything. Patience is a virtue (and money saver).

I'll add that giving a big number of Tony's to one show is the new thing and doesn't indicate a great show.

My brother and sister-in-law saw it several months ago and really raved about it.
I'm glad they enjoyed it and I would like to see it at some point. Did they pay 6x the face value though? I've enjoyed many things, but most less so if I paid 6x as much.
rgs92
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by rgs92 »

Have you heard the music? This is no My Fair Lady, Sound of Music, or Hair. Just my 2 cents.
(It's too bad Rock of Ages is gone. I saw that twice.)
kcb203
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by kcb203 »

I paid $660 per ticket for third-row mezzanine to take my 12-year-old daughter at the end of April--that was about 4x face value. She was obsessed, and now I am too. Absolutely amazing show. It works on so many levels--rap, musical theater, history, role of the auteur, etc. The cast was incredible--the only disappointment for me is that Miranda himself isn't the greatest singer and actor. He brings something extra to the role having written it, but I think others that follow may outshine him as Hamilton. Diggs (as Lafayette/TJ) and Odom (as Burr) were phenomenal, as were the two leading women.

Would I do it again? It's the best money I've spent on my daughter. I'm much more willing to buy my children experiences than things, which is why I've taken them around the world but say no when they want expensive clothes or trendy items. (They know enough not to ask.)

I've been to about a bunch of Broadway, West End, and touring shows over the last five years with my daughter. (Les Mis, Phantom, Book of Mormon (without my daughter), Sweeney Todd, Mathilda, Wicked) and this blew them all away.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by Miriam2 »

AlohaJoe wrote:In general, I've found that when I was on holiday and skipped out on experiences because they were "too expensive" I usually ended up regretting it. After all, it isn't like I'm likely to ever go back to Macchu Picchu or Ayer's Rock or the Kauai. And what did I end up spending that $500 or $1000 on afterwards, anyway? Some Starbucks coffee? Slightly nicer restaurants dinners in my home town? I don't even know....it just kinda evaporated :)
kcb203 wrote:I paid $660 per ticket for third-row mezzanine to take my 12-year-old daughter at the end of April--that was about 4x face value. She was obsessed, and now I am too. Absolutely amazing show. . . .
Would I do it again? It's the best money I've spent on my daughter. I'm much more willing to buy my children experiences than things, which is why I've taken them around the world but say know when they want expensive clothes or trendy items. (They know enough not to ask.)
For me, these two posts express what so many of us appreciate so much - wonderful experiences with our loved ones that can never be repeated or replicated and which we will never forget. Lifetime memories. The price is only money. Money comes and goes. That's why we work. Sometimes there is only one single window of opportunity for these events and memories and then the window closes. What price for that?

Yes, there will be other times to create warm occasions. But it's not always the same. And - who knows?
epoxyresin wrote:Hamilton will still be playing next year. And the year after. Unless you really (really really really) want to see the original cast, is it really worth that much money to see it now rather than later?
True, this makes financial sense. Assuming WE are here later :( Sometimes the opportunity for unique times with your special family and friends makes no financial sense, it just makes emotional sense.
John Bogle, "The Twelve Pillars of [Financial] Wisdom"- Pillar 7: The Powerful Magnetism of the Mean. Reversion to the mean prevails, sooner or later, in the financial jungle.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by GoldenFinch »

peppers wrote:...happy wife...happy life and all that jazz....

Ha Ha! As a wife, I know I can be happi(er) knowing I haven't overpaid (6X!) for what should be a simple pleasure.

I vote for a NICE night on the town now and seeing Hamilton in the future. That's what I will do. Plus, I will have one more thing to look forward to down the line and I like that. :beer
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by MandyT »

I think there are situations in which it could be worth spending at such a high premium for a special occasion. In this case, my opinion is that the additional cost is just too high compared to the value added by seeing the show on Broadway soon (versus seeing it on Broadway eventually or seeing it on tour).

I have to humblebrag a bit. I'm not in the theatre business, but I read theatre message boards and go to New York a couple of times a year to see shows. Based on the buzz, I bought a ticket before Hamilton opened on Broadway (at face value) to see it last year. It was really good. I could see paying two or three times face value, but not six times.

[Someone posted about people wanting to brag about how much they paid on Facebook. I'm not even *on* Facebook. I like being here where I can brag about how *little* I paid. :mrgreen: ]

I think the hardest thing about this situation is to find a nice way to say to your wife, "Sorry, you're not worth $X". Maybe you could make it up to her by doing something else special?
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by GoldenFinch »

MandyT wrote: I think the hardest thing about this situation is to find a nice way to say to your wife, "Sorry, you're not worth $X". Maybe you could make it up to her by doing something else special?
No, no, no. The wife's worth is, of course, priceless! What you say is, "It's not worth $X, let's pocket that cash and wait until it costs less so we see Hamilton and do a bunch of other fun things too." :moneybag
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by stoptothink »

MandyT wrote: I think the hardest thing about this situation is to find a nice way to say to your wife, "Sorry, you're not worth $X".
Are others really put in a position where they have to say something like that?
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by MandyT »

GoldenFinch wrote:
MandyT wrote: I think the hardest thing about this situation is to find a nice way to say to your wife, "Sorry, you're not worth $X". Maybe you could make it up to her by doing something else special?
No, no, no. The wife's worth is, of course, priceless! What you say is, "It's not worth $X, let's pocket that cash and wait until it costs less so we see Hamilton and do a bunch of other fun things too." :moneybag
Of course I did not literally mean that mevans154 would say that to his wife. It is very possible, however, for her to infer that from the discussion unless mevans154 is very careful.
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Post by Taylor Larimore »

Would you pay 6x face value to see Hamilton on Broadway?
Mevins154:

Never.

If Hamilton is any good, it will continue to be shown at a lower price and probably better.

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
TomCat96
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by TomCat96 »

knowsnothing wrote:My wife is dying to go = just go.

This. To OP, why is this even a question if you can afford it?

In fact, this is a golden opportunity in life. It's her chance for her to think, my spouse surprised me with tickets to see Hamilton at six times face value.

In my eyes, this isn't a debate. It is, rather, a chance to shine and make someone really happy.
btenny
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by btenny »

I agree. The price is just too high IMO. Take your wife to a nice play and a date night dinner and enjoy the evening. Wait a few years and Hamilton will be somewhere with a good cast and a lot cheaper.

Enjoy.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by KingsBench »

mevans154 wrote:So my wife is dying to see Hamilton on Broadway, and the show is sold out until early next year. The original cost for a Orchestra ticket is $177 but there are people selling (scalping) on-line from anywhere between $950 to $1,500 per ticket. It's not an issue of whether or not we can afford it, as if we did buy the tickets it wouldn't take any food off of the table.
So my question is to all of you Bogleheads out there is would you pay 6x face value to see a three hour performance of the hottest show on Broadway?
$950 to $1,500 per ticket is an astronomical amount of money for each ticket to see a Broadway play.

On the other hand, I remember when my wife bought standing-room only tickets to see Zero Mostel as Tevye in Fiddler on the Roof when it was on Broadway. I complained about the price. That was back in the 70's and we were starving artists. We wore our threadbare Woolrich jackets to that tiny Broadway theater and stood in the back, utterly mesmerized and transported by the play. Priceless. During intermission, the staff ushered us to empty seats up close in the middle where we sat amidst the gold and mink.

On the other hand, I remember when my wife bought standing room only tickets to see Luciano Pavarotti in some opera somewhere, where we, still starving artists, stood in the back for three hours while the wailing went on.

What does your wife say?
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by t3chiman »

mevans154 wrote:... would you pay 6x face value to see a three hour performance of the hottest show on Broadway?
My wife is friends with a relative of one of the cast members. She (the friend) has gotten free tickets 3 times.

Top that, bogleheads.
wdr1
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by wdr1 »

If it's not a question if you can afford it, then it's a question of are the tickets worth $1k.

I wouldn't care about the current price vs face value of ticketing (i.e., the 6x). Having worked in ticketing, the face value of a ticket for a high demand event is based on a variety of factors, none of which really reflect its current value. If you purchased one share of VOO today, does it matter what it was valued 2-3 years? Not really.

I think the question is would the vent provide $2k worth of enjoyment to you & your wife? If it would, then you should go.

If it was me, personally I would do it. I've been listening to the Hamilton musical, read both the Chernow & Revolution book. My wife & I were considering making a trip out from the west coast to NYC just to see it, but couldn't make it happen before the newest member of our family joined us.

All that said, if you didn't know already, the show is about to go on tour. It will be a different cast, but if there's a city nearby, you may want to catch it there.

http://www.hamiltonbroadway.com/tour.php
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Will do good
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by Will do good »

No, no, no, no, no. no.

What's the rush? is it going away anytime soon? This feels like keeping up with the Jones.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by Thrifty Femme »

No, I wouldn't pay 6x face value for anything.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by chx »

I don't think I would pay face value for those tickets myself. But if it were a bonding experience with another person, I would pay more. I paid face value for two Superbowl tickets one year (won the team's lottery to buy them at face value). I am happy to have had the experience with one of my children. The other child and the wife didn't mind not going.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by eskouster »

I paid $500 each for two seats a month ago. It was worth every dollar.
WhyNotUs
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by WhyNotUs »

I couldn't. We were in NYC last fall and my daughter saw it pre-Broadway and knew that I would love it. Downloaded the cast recording and really liked it. Couldn't pull the trigger on 4 great seats for $2k. We did try the lottery three times while there. It was in person then, now online. They sell 21 front row seats at each showing for a Hamilton bill each. When it was in person, there were hundreds of people trying but now that it is online and there is full Hamilton mania, there are thousands in the lottery.

Would have loved to see the original cast but only at face value. 6x face does not support the cast or creators in any way so that is out for me. There are always other excellent productions available.
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jodydavis
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by jodydavis »

6x? No. But 3x? Yes. In fact, that's what I paid for two tickets for me and my 16-year-old daughter as part of a weekend trip to NYC.

As the replies indicate, this is a purely subjective question, depending heavily on how much you like broadway musicals, how much you care about seeing the original cast, how much disposable income you have, what else you would do with the money, etc. Some folks would not blink paying the same amount for Superbowl tickets but would balk at Hamilton tickets, and vice versa.

At 3x, personally, it was totally and utterly worth it. I will probably try to get tickets again for the touring show.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by protagonist »

KingsBench wrote:
On the other hand, I remember when my wife bought standing-room only tickets to see Zero Mostel as Tevye in Fiddler on the Roof when it was on Broadway. I complained about the price. That was back in the 70's and we were starving artists.
It's still on Broadway.

I took my gf to see it last December. I forget what I paid, but we had center orchestra seats around the eighth row if I recall. The total for the two tickets was less than $200....I think less than $150. The cast was amazing. I don't imagine it would have been better with Mostel, but I could be wrong.
mak1277
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by mak1277 »

This is worth reading.

http://joeposnanski.com/hamilton/
skepticalobserver
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by skepticalobserver »

What's the hurry? This show is not going anywhere. Don't get sucked into the new, new thing. There's plenty of good theater at reasonable prices, on Broadway, off-Broadway and regionally.

Off topic, but collateral to this discussion, there's about 40 buildings in NYC designated as "Broadway" theaters (500 + seats). Owners get a piece of a show's gross and can toss the production if gross thresholds are not met. Accordingly, the business of NYC theater is a real estate. Let's put on a show!!
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by boomstick »

This play seems like a good representative of the dumbing down of society, where history needs to be presented in a entirely distorted hip-hop sensationalized form for anyone to be interested in it. I admire the arts, but I cannot get on this bandwagon.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by jodydavis »

boomstick wrote:This play seems like a good representative of the dumbing down of society, where history needs to be presented in a entirely distorted hip-hop sensationalized form for anyone to be interested in it. I admire the arts, but I cannot get on this bandwagon.
As opposed to the historically accurate Les Miserables, where the french sang in the undistorted broadway show-tune genre of revolutionary France. :D
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by skepticalobserver »

boomstick wrote:This play seems like a good representative of the dumbing down of society
Brush up your Shakespeare! The bards' histories spun the facts to entertain and educate his audience. Come to think of it, the Romans, Greeks and G&S (late 19th C hip hop) did that too!

May a thousand flowers bloom..sort of.
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by Nowizard »

Of course not in our case. We go to NY to see plays every couple of years or so, and there are always excellent ones to see. Sometimes, the more/most popular ones are actually not that great and others are more enjoyable. For example, though not prudish at all, Book of Mormon was exploitive trash in our opinion though highly acclaimed while The Addams Family with Nathan Lane was a favorite in spite of low ratings by the critics. Perhaps, we are just not sophisticated enough for the former, and the fact your wife desperately wants to see Hamilton shows differences of taste that may make your situation different. After all, payment of 6X face for a Sunday ticket to the Master's Golf Tournament is another issue altogether.

Tim
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by eskouster »

boomstick wrote:This play seems like a good representative of the dumbing down of society, where history needs to be presented in a entirely distorted hip-hop sensationalized form for anyone to be interested in it. I admire the arts, but I cannot get on this bandwagon.
How is it dumber? Because it's so fast-paced, Hamilton consists of 20,000 words — about four times more than a typical musical, and approaching the length of a short novella. It's one of the densest musicals ever written.

Chernow was skeptical of hip-hop too:
When I asked whether hip-hop — of which I was abysmally ignorant — could be the vehicle for telling such a rich, complex story, he answered, ‘‘Ron, I’m going to educate you.’’ And, boy, did he ever. He pointed out that with dense, rapid lyrics, you could pack an enormous amount of information into the songs. He also noted the use of rhyme, including internal rhyme, and all of the clever wordplay that was possible.
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mevans154
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by mevans154 »

Original Poster Here:

Thank you everyone for your responses! So it was my wife's 48th birthday yesterday. I went on a website called Tickpick.com and bought two 12th row Orchestra tickets for $880 each (comes out to 4.97x Face Value) and saw the show last night. Gotta say the show was pretty amazing!

So after thinking about this for quite some time, I decided to go for it! My wife and I are both 48, our house is paid for, and we have a two comma portfolio. We live in South Jersey so between gas, tolls, parking, dinner, and the show it was probably close to a $1,900 night! :oops:
But to see my wife's face before the curtain went up... priceless!

For all the people that posted "YOLO" let me tell a quick story. Earlier this month my wife went for her annual mammogram. The radiologist said "something looked suspicious" and wanted her to get a breast biopsy. Having lost my mother at the age of 57 to breast cancer in 1999, this hit home pretty hard. After waiting a week to get the biopsy scheduled, and another 4 days for the results, needless to say it was a stressful couple of weeks in our home. Thank God the test results came back negative, but it reminded me how fast your life can go sideways in a moments notice!

I am a firm believer of saving for the future and living below your means, but I am also reminded that "Tomorrow is Promised to No One"!

Cheers! :sharebeer
"Be greedy when everyone is panicking, and panic when everyone else is greedy"... Couldn't agree more!!!
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by JonnyDVM »

I'm glad you found a balance between living today and saving for tomorrow. I'm sure your wife will be raving to all her friends and family about how her fantastic husband took her to see Hamilton for her birthday. Plus, like a true Boglehead you found a way in at less than 6X. Nicely done all around.
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Raybo
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by Raybo »

Similar story, different show.

In SF, The Book of Mormon was showing with very expensive seats. My wife and I wanted to go but not at the listed prices. In London to visit family and got tickets for The Book of Mormon in London for about $65 a seat. Who would have thought that seeing a show in London would be much cheaper than in San Francisco?

While I liked it, it is crude.
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protagonist
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by protagonist »

Raybo wrote:
In SF, The Book of Mormon was showing with very expensive seats. My wife and I wanted to go but not at the listed prices. In London to visit family and got tickets for The Book of Mormon in London for about $65 a seat. Who would have thought that seeing a show in London would be much cheaper than in San Francisco?
In fact, Hamilton is scheduled to open in London....I'm not sure when, but I think maybe early 2017.

I'm hoping the pattern is similar. As much as I would love to impress my sweetie by buying us Broadway tickets to see Hamilton, I think she will be way happier when I buy us RT tickets to London PLUS Hamilton tickets in London for the same price. I suspect a Boglehead female would instantly marry a man who had that much common sense.

Besides which, the real Alex Hamilton probably had more of a British accent (being born in a British colony to the son of a Scottish lord), which will add a touch of reality to the show.
Last edited by protagonist on Thu Jun 02, 2016 2:14 pm, edited 1 time in total.
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White Coat Investor
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by White Coat Investor »

mevans154 wrote:So my wife is dying to see Hamilton on Broadway, and the show is sold out until early next year. The original cost for a Orchestra ticket is $177 but there are people selling (scalping) on-line from anywhere between $950 to $1,500 per ticket. It's not an issue of whether or not we can afford it, as if we did buy the tickets it wouldn't take any food off of the table.

So my question is to all of you Bogleheads out there is would you pay 6x face value to see a three hour performance of the hottest show on Broadway?
It wasn't that good. $150 good, yes. $1500 good? No. It won't be the hottest show forever. Be patient.

Edit- NM. You already went. YOLO.
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island
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by island »

mevans154 wrote:Original Poster Here:

Thank you everyone for your responses! So it was my wife's 48th birthday yesterday. I went on a website called Tickpick.com and bought two 12th row Orchestra tickets for $880 each (comes out to 4.97x Face Value) and saw the show last night. Gotta say the show was pretty amazing!

So after thinking about this for quite some time, I decided to go for it! My wife and I are both 48, our house is paid for, and we have a two comma portfolio. We live in South Jersey so between gas, tolls, parking, dinner, and the show it was probably close to a $1,900 night! :oops:
But to see my wife's face before the curtain went up... priceless!

For all the people that posted "YOLO" let me tell a quick story. Earlier this month my wife went for her annual mammogram. The radiologist said "something looked suspicious" and wanted her to get a breast biopsy. Having lost my mother at the age of 57 to breast cancer in 1999, this hit home pretty hard. After waiting a week to get the biopsy scheduled, and another 4 days for the results, needless to say it was a stressful couple of weeks in our home. Thank God the test results came back negative, but it reminded me how fast your life can go sideways in a moments notice!

I am a firm believer of saving for the future and living below your means, but I am also reminded that "Tomorrow is Promised to No One"!

Cheers! :sharebeer
Well heck OP, you could have mentioned it was a special occasion! Whole different scenario. :oops:
Glad you both enjoyed it and Happy BDay to your wife!

My spouses's BDay is in the fall and his gift will be a stay at a beachfront condo for a month....about 5 miles from where we live. Month rate a steal at about 5K and only slightly more than the 2weeks I originally planned.
I like to draw out the celebration and also get a bargain! :D
TomCat96
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by TomCat96 »

mevans154 wrote:Original Poster Here:

Thank you everyone for your responses! So it was my wife's 48th birthday yesterday. I went on a website called Tickpick.com and bought two 12th row Orchestra tickets for $880 each (comes out to 4.97x Face Value) and saw the show last night. Gotta say the show was pretty amazing!

So after thinking about this for quite some time, I decided to go for it! My wife and I are both 48, our house is paid for, and we have a two comma portfolio. We live in South Jersey so between gas, tolls, parking, dinner, and the show it was probably close to a $1,900 night! :oops:
But to see my wife's face before the curtain went up... priceless!

For all the people that posted "YOLO" let me tell a quick story. Earlier this month my wife went for her annual mammogram. The radiologist said "something looked suspicious" and wanted her to get a breast biopsy. Having lost my mother at the age of 57 to breast cancer in 1999, this hit home pretty hard. After waiting a week to get the biopsy scheduled, and another 4 days for the results, needless to say it was a stressful couple of weeks in our home. Thank God the test results came back negative, but it reminded me how fast your life can go sideways in a moments notice!

I am a firm believer of saving for the future and living below your means, but I am also reminded that "Tomorrow is Promised to No One"!

Cheers! :sharebeer

Glad to hear your wife is doing well.
I'm one of the guys who commented in favor of taking your wife to see the musical.

One of the dangers of bogleheads' frugality and practicality is the propensity to give unduly poor valuations to important life experiences.

Framing this as a question of $1900 vs a Broadway show alone is somewhat short-sighted.

You have one wife, one life. The boglehead frugality doesn't take into account that opportunities like these simply do not come everyday. It doesn't properly value the emotional and subjective benefit to both you and your wife. It does not properly value emotional damage that may accumulate to the relationship by not treating someone well. It tends narrow one's field of vision and process the cost benefit analysis in a vacuum.

In fact many people here on the thread framed the question exactly as above: Large amount of money vs a broadway show.

Respectfully to everyone here, I do not believe that is the proper analysis. If one truly wants to be technical about it, a more complete analysis would look something like this.

Scenario 1 (you take her):
-$1900
-any possible misgivings you might have.
+value of wife's happiness
+value of your happiness at seeing your wife happy
+value of lingering positive affection
+value of a new life experience with someone special in your life
+value of broadway show.

Scenario 2 (you do not take her):
+0 money.
-any possible unhappiness which may accrue to your wife's emotional state.
-any possible unhappiness which might accrue to your emotional state.
-damage of lingering negativity

Indeed, based on what you wrote: "But to see my wife's face before the curtain went up... priceless!", it sounds to me like the way you really framed the analysis in your mind was this:

$1900 vs Seeing my wife happy

rather than

$1900 vs getting a broadway show.


Finally there is another important consideration in all this as well. The idea behind an efficient market is that the opportunity to purchase is perpetual. That implicit assumption however simply cannot be extended to real life. How does a cost benefit analysis properly value "seizing the moment"? Answer: not very well.

For one, your wife's heart is tied to the show now, while it is still hot. The happiness she would derive is wedded to the moment. Waiting until the show is available for cheaper, which could take years, is a simply different analysis altogether. She might not even care about the show then. You might not care about the show then.

Based on my life experience, finding a substitute good for a life opportunity is pretty rare. It most certainly cannot be assumed. A sterile analysis that sets the broadway musical vs it's cost does not adequately recognize the value of the moment itself. It fails to recognize the value of the moment because it erroneously assumes the ability to transact will always remain.

If your spouse comes to resent you, you cannot assume taking her to Europe will make her happy. I can certainly guarantee taking her to see Hamilton after shes fed up with you, wont yield the same benefits. Similarly If you fail to be a good parent to children during formative years, spending the same time with them in the future wont yield the same results.

Moments to make someone important in your life happy are in themselves finite opportunities. The idealist in me would go so far as to call them precious opportunities. I'm elated that you seized the moment, and that you and your wife had a wonderful time. You made the right call.
protagonist
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Re: Would you pay 6x face value to see Hamilton on Broadway?

Post by protagonist »

TomCat96 wrote: Framing this as a question of $1900 vs a Broadway show alone is somewhat short-sighted.
If your spouse comes to resent you, you cannot assume taking her to Europe will make her happy.
Nobody has taken into account the OP's financial state.

Clearly a $1900 ticket means something completely different to one making $1900/hr than it does to one making $1900/month, and that may account for some of the discrepancies in responses in this thread.

I completely support, and advocate. going way out to make somebody you care about happy. I try to do it frequently because it feels good. But that said, I surely wouldn't want to marry somebody who would resent me if I didn't spend $1900 to take her to a show.
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