Prices soar for Derek Jeter ceremony

The New York Yankees' surprise announcement on Friday that the team would officially honor its retiring captain Derek Jeter on Sept. 7 sent ticket prices for that game soaring on the resale market.

The average list price for the home game in the Bronx against the Kansas City Royals went from $139.24 before the announcement to $497.98 by Saturday, according to ticket resale market aggregator TiqIQ.

The price of the cheapest seat in the building jumped by more than 1,200 percent, from $16 to $211. Bleacher seats with a face value of $23 can't be found for under $223, while outfield field box seats that carry a face value of $175 can't be had for under $575 anymore.

"The Yankees have been known to pick somewhat random dates to honor their retiring stars," said TiqIQ spokesman Chris Matkovich, pointing out that Mariano Rivera was honored last season on the Sunday during the final homestand. "With dates being unknown, this has led to huge price spikes directly after the announcement of his retirement and now this ceremony. But it has also given the average fan the ability to buy a change to get tickets to a marquee event at face value."

The Yankees haven't announced the schedule of events, but did say that fans attending the Sept. 7 game will receive a limited edition Jeter coin.

One of the biggest beneficiaries of Jeter's retirement year have been ticket brokers in Boston, where the Yankees will play their final series of the regular season from Sept. 26-28. When Jeter announced his retirement intentions in February, tickets to his very last game at Fenway Park soared.

On StubHub, the cheapest ticket went from $26 to $328 within a matter of hours. In the five months since, prices have come down a bit. The cheapest ticket on StubHub to the last regular-season game Jeter might play is now $161.