Shadow Ridge Auction 5/18-23/17

[SueDonJ]

(info posted in one of the Marriott Timeshare-related Facebook groups)

Bid4Assets will be hosting an online auction of Shadow Ridge Weeks in default for unpaid taxes. See this County Treasurer page.

 

[Tokapeba]

(info posted in one of the Marriott Timeshare-related Facebook groups)

Bid4Assets will be hosting an online auction of Shadow Ridge Weeks in default for unpaid taxes. See this County Treasurer page.

Where else do the Marriott auctions happen?

 

[rthib]

So how does this one work? I know in most other auctions they bundle up all the units and Marriott buys them.

 

[bizaro86]

So how does this one work? I know in most other auctions they bundle up all the units and Marriott buys them.

In this one they're doing them individually as an online auction.

I'm more interested to know whether this includes the unpaid MF. It seems like it should given most of the amounts owing areally in the thousands of dollars....

 

[ryanthekiwi]

In this one they're doing them individually as an online auction.

I'm more interested to know whether this includes the unpaid MF. It seems like it should given most of the amounts owing areally in the thousands of dollars....

The prices they're asking should not generate any bids whatsoever. The minimum bid prices are well in excess of what the prices would be to even buy a Marriott Platinum timeshare in Palm Springs on eBay or RedWeek

 

[bizaro86]

What is a

The prices they're asking should not generate any bids whatsoever. The minimum bid prices are well in excess of what the prices would be to even buy a Marriott Platinum timeshare in Palm Springs on eBay or RedWeek

What do you think a platinum 2 bedroom unit at the palm desert resorts would be worth? I would have thought a few thousand dollars, but maybe not?

 

[cp73]

What do you think a platinum 2 bedroom unit at the palm desert resorts would be worth? I would have thought a few thousand dollars, but maybe not?

You need to look at the auction data and multiple sheets very carefully. There is no relation to the starting bid and the season. Starting bid appears to be based upon taxes due. The platinum units at the CA desert resorts sell for about $5-$7K now. If you can get a platinum one for below $5k that would be a good buy. The other seasons (spring, summer, and fall) you can pickup on red week or other places for the same (opening bid) or less. My guess is many won't get a bid on them.

 

[geist1223]

This is an auction by the local Government/Tax Authority. I would SWAG that these minimum price amounts only include unpaid taxes. Thus someone who bids the minimum or more will probably get a rude awakening if the Timeshare Organization comes after them for past due MF's.

 

[Tokapeba]

It's my understanding that they would be free of other incumbrances. In the downturn people were buying condos in my association and didn't pay back fees or assessments. The sale price is the sale price...

 

[Tokapeba]

If you bought it for $1 Marriott wouldn't be able to exercise ROFR. They can buy it at the auction just like you.

 

[Tokapeba]

What I want to know is what happens to them when no one buys them, the county can't just sit on them forever?

 

[grupp]

Actually, if you shop around some on the Internet, you can find a few platinum weeks listed around $2,000. Don't know what would happen with ROFR, but they are out there.

 

[ryanthekiwi]

Actually, if you shop around some on the Internet, you can find a few platinum weeks listed around $2,000. Don't know what would happen with ROFR, but they are out there.

I recently bought a platinum Shadow Ridge, $2,100 and it cleared ROFR. Friend of mine is buying on RedWeek a couple plat usages at Desert Springs II for $3,000 each. My guess is these things get turned over to the post card companies or maybe they package it to Marriott for a cheaper price. The taxes on my Shadow Ridge gold and platinum are around $65 per year each. There's no way they've arrived at their arbitrary numbers by in any way taking actual unpaid taxes into account.