You have to decide what your event is worth. Taylor Swift wasn't selling $20 seats.
If you have 1000 seats to sell, and sell them for $10 then you sell out and put $10,000 in the bank.
If you sell them for $30 and only sell 750 seats, then you didn't sell out, but you sold $22,500 worth of tickets. And you need less staff and security for the smaller crowd.
You could sell the remaning tickets for $10 and bag another $2500 bucs, but what happens when the people that paid $30 find out the guy sitting next to him paid $10? What's he going to do next year?
One of the problems with the ADRL when they were giving away free tickets was the perception that a Drag Race isn't worth paying to see. They packed the tracks no doubt, but was it worth it? I don't know how much they made charging for parking, but 3 months later when NHRA would come to town, you had to convince a casual fan, that this show was worth paying for, when they think Drag Racing is something you can watch for free.
The ticket price needs to be high enough that it conveys the value of your show. Then you need the ticket buyer to leave thinking he/she got more than they paid for. That's the balance.
Every event I have a simple Pass/Fail rating scale. If this was the first time a saw a live event, would I want to come back? Take Charlotte. Good racing, upsets, a couple of underdog stories, a winning streak extended, some rivalries renewed, points lead swapped in two classes, a Champion Crowned, compelling sportman racing (including my personal favorite a Heads Up Stock final with two guys going for their first win).
I thought that yesterday's event was a winner, and if that was my first race, I would want to see another one.
Alan