TUG killing your chances of selling

TUGBrian said:

are plenty of marriotts that have zero or negative value.

Click to expand...

Yep, we just discussed this on FaceBook. Plenty of Marriott timeshare auctions that did not even get a $1 bid and some sold for around $1.

Ty1on said:

Bringing up Marriott is like bringing Bill Gates into the argument that there is no recession.

I've never seen it advised that Marriott could not be sold without giving it away (although that is the case with some non-system intervals at Marriott resorts). In fact, there is consistent advice to offer an amount that will likely pass ROFR in Marriott's case, and more generally, it is consistently noted that highly sought locations and weeks are bought and sold at a premium. WKV during prime season is a perfect example.

Click to expand...

What in the world does your bolded comment have to do with anything I said?

I never said that people on TUG believe Marriott timeshares have no value or that they are hard to sell (if the price is low enough). My point is that it is often possible to get a much higher price for them than is commonly assumed on TUG. I have lost relatively little money even selling developer purchased Marriott timeshares, although it is harder to do than it used to be. This goes against the assumptions constantly made here, including assumptions made about Marriott prices. Most advice here is from the perspective of BUYING timeshares, not selling them.

BocaBoy said:

What in the world does your bolded comment have to do with anything I said?

I never said that people on TUG believe Marriott timeshares have no value or that they are hard to sell (if the price is low enough). My point is that it is often possible to get a much higher price for them than is commonly assumed on TUG. I have lost relatively little money even selling developer purchased Marriott timeshares, although it is harder to do than it used to be. This goes against the assumptions constantly made here, including assumptions made about Marriott prices. Most advice here is from the perspective of BUYING timeshares, not selling them.

Click to expand...

And you are saying the same thing over again, to which I offer the same argument. Congratulations. You bought well in Marriott. You lost little money reselling them. Many, many timeshares are worthless. And to your Marriott, whether from the perspective of buying or selling, TUGgers readily agree that MVC contracts DO hold value.

I understand the OP thinking TUG trashes timeshares, but if OP only reads negative feeds then is only getting one side of the story. Most of us have bought resales, after going to sales presentations of new exciting upgrades telling us of places we can go and things we can do with the overpriced developer units. They get annoyed when I tell them I am already going to exciting new places with nice upgrades, using my resale timeshares, I started out with a small timeshare I bought from developer, did not pay a lot, but more than I should. Since then have aquired a few free and low cost timeshares from Tug. OP should read reviews and see that we don't just promote buying resale, we also review resorts from personal experience. I find TUG most helpful when planning my exchanges, rentals and purchases.
Silentg

Regarding TUG hurting the industry

If it were not for TUG I would never have found out about a deedback opportunity. The resort would certainly never have told me. After having the dues triple in 14 years and rarely finding the vacancies on trades I feel the "Industry" is the one hurting themselves.

TUG-a vaction saver in many ways

Since rejoining TUG we have been able to sell rental weeks and ownership weeks that we have been trying to sell for quite a period of time. Like many people our needs changed and we wished to travel a different direction.

We were able to sell our weeks and purchase what we wished to own on the resale market at prices that were conducive to our desires. We even did so with the club (Worldmark) in order to increase our credits owned. Learning and gaining knowledge from well-informed members as well as great ideas allowed us to setup the way we wished to travel and vacation for the next number of years.

Thank you interested members and TUG,
jmkhager

Ty1on said:

And you are saying the same thing over again, to which I offer the same argument. Congratulations. You bought well in Marriott. You lost little money reselling them. Many, many timeshares are worthless. And to your Marriott, whether from the perspective of buying or selling, TUGgers readily agree that MVC contracts DO hold value.

Click to expand...

The problem is that your response does not address the point I am making. TUGGERs do NOT readily agree that you can get 80% of the developer prices when you sell even a desirable Marriott. The point is constantly being made here that E-Bay is the best measure of the market, and my point is that TUGGERs look at the market primarily from the perspective of a buyer, not a seller.

I just saw this thread (at least the 1st page) while sitting on our WPORV lanai overlooking the Kilauea Lighthouse to our right and sunset over Bali Hai to our left
Timesharing sucks... TUG is the worst...:rofl:

BocaBoy said:

The problem is that your response does not address the point I am making. TUGGERs do NOT readily agree that you can get 80% of the developer prices when you sell even a desirable Marriott. The point is constantly being made here that E-Bay is the best measure of the market, and my point is that TUGGERs look at the market primarily from the perspective of a buyer, not a seller.

Click to expand...

Agree 100%. Ebay is not the best measure of the market for sellers, even for non-Marriotts. Ebay is more like the thrift shop or bargain basement versus a regular retail store.

We kept our Diamond Kaanapali Beach Club 2BR for several years longer than we should have because we didn't want to give it away for $1 on eBay, as we saw a number of folks doing (or trying to do - many were not even getting bids). Finally, after buying our Marriott ownership in 2014, we decided we had to get serious about selling Kaanapali Beach Club. So in July 2014 we listed with a broker, Timeshare Resales Hawaii for a little over $5900 based on the comps they gave us from other KBC 2BR sales. Within 5 days of listing we thought we had an offer coming, but that offer never came through. Then about two months after the initial listing, we accepted a $5000 offer, but the buyer backed out during the recession period. Finally, about two weeks later in mid-September, we accepted another contract at $4700 and closed in mid October.

So even some non-Marriotts don't have to be sold in the bargain basement if you are patient and approach it the right way. Obviously our sales price was only about 25% of what we paid the developer back in 1998, but it was way more than the eBay market, and after 16 years of use, we were happy with the outcome.

I agree. eBay is where I go to buy, but I use other avenues to sell.

BocaBoy said:

The problem is that your response does not address the point I am making. TUGGERs do NOT readily agree that you can get 80% of the developer prices when you sell even a desirable Marriott. The point is constantly being made here that E-Bay is the best measure of the market, and my point is that TUGGERs look at the market primarily from the perspective of a buyer, not a seller.

Click to expand...

I can almost always do better buying on eBay. However, if I'm looking to sell, I don't even consider eBay.

JIMinNC said:

Agree 100%. Ebay is not the best measure of the market for sellers, even for non-Marriotts. Ebay is more like the thrift shop or bargain basement versus a regular retail store.

We kept our Diamond Kaanapali Beach Club 2BR for several years longer than we should have because we didn't want to give it away for $1 on eBay, as we saw a number of folks doing (or trying to do - many were not even getting bids). Finally, after buying our Marriott ownership in 2014, we decided we had to get serious about selling Kaanapali Beach Club. So in July 2014 we listed with a broker, Timeshare Resales Hawaii for a little over $5900 based on the comps they gave us from other KBC 2BR sales. Within 5 days of listing we thought we had an offer coming, but that offer never came through. Then about two months after the initial listing, we accepted a $5000 offer, but the buyer backed out during the recession period. Finally, about two weeks later in mid-September, we accepted another contract at $4700 and closed in mid October.

So even some non-Marriotts don't have to be sold in the bargain basement if you are patient and approach it the right way. Obviously our sales price was only about 25% of what we paid the developer back in 1998, but it was way more than the eBay market, and after 16 years of use, we were happy with the outcome.

Click to expand...

My mother owns a non-Marriott on Hilton Head, week 18 at Sea Crest Surf & Racquet Club. It's one of the nicest 2BRs at the resort. It's a nicely maintained resort in a great location. I told her that she probably wouldn't get much more than $1 for it since it wasn't a prime week and kids were still in school. I told her that she needed to get rid of it since she can't travel there anymore and her deposits with RCI were building up. She managed to get down there this past May with the help of my son and listed it with the resort. She got an offer right away for $1500. With the closing costs and commission, there wasn't a whole lot left over and she countered. The potential buyer walked. I thought to myself that she should have taken it. I felt that she missed out on an opportunity. After a couple of months, she was starting to feel the same way. Last week, she got documents in the mail for the sale of the timeshare for $2900. She will get about $1500 in her pocket. She got many, many years of enjoyment from the timeshare and didn't have to sell it for a $1. On this transaction, she was more savvy than I thought I was. I would have listed it for $1. Go, Mom!

"So even some non-Marriotts don't have to be sold in the bargain basement if you are patient and approach it the right way. " How true!

upandadam said:

With all the negative information about timeshare on this site, how does anyone expect to sell their timeshare? if I was reading the info posted on this site I would never buy a timeshare. Sites like this hurt the industry more then protecting people.

Click to expand...

Here is a thread titled "How to sell your timeshare" http://tugbbs.com/forums/showthread.php?t=44

It's prominently posted in the 'Stickies' at the top of the Buying, Selling, Renting forum. How can you possibly say TUG provides anything but useful, and FREE information. Only someone who has been scammed could think otherwise.

Jim

I do not personally think that eBay is the best measure of the market. We have had threads here discussing how to value a timeshare (for tax purposes, for inheritance purposes, for buyers or sellers, etc) and there is NOT a TUG consensus on this. Some say we should use the eBay sales records, others say look at ALL the recent sales (from the county assessor's records), others say the value is whatever the tax man says it is, others say the value varies depending on the owner/buyer/seller.

If I wanted to sell a timeshare I would list it on RedWeek, TUG, and I'd create a webpage just to list it. I would post ads all over the place but I don't think I would put it up for auction. I might do facebook or google ads. I would highlight all the resort and unit features. I would post tons of recent photos. I would include relevant positive info (for example, if MF have remained constant for 10 years I'd say so, if there have been recent upgrades in the units I'd say so, if it trades well I'd say so). And then I'd wait. I'd spend up to a year or two to get the best buyer. In the meantime I would use, rent, or trade the units. The only way I'd let my units go to eBay were if I was desperate to get rid of them.

one also has to consider the situation the seller is in before considering the "value" of a week.

even at $1 a timeshare is not a quick or easy thing to dispose of assuming you will have a buyer shortly after posting the ad anywhere.

Most owners who are not in a situation where they need to sell, dont even bother themselves with the resale market it all, but those who are in need of being out from under their timeshares (for a myriad of reasons, including health/financial/death/etc)...are certainly more inclined to price their timeshares aggressively.

If someone wants to, they can certainly find anomalies in any set of numbers to use as examples, but day after day you can see proof that many timeshares listed in the resale market are wildly overpriced. Is it possible that some of those will find that golden goose of a buyer? of course its possible, after all someone paid that price for ALL of these timeshares at one point in time (buying retail).

The hard reality is still that on average, most timeshares will sell for between 0 and 15% of their retail price on the resale market...sure there are (statistically speaking) thousands of owners who are exceptions to that rule, but to change the rule would be doing nothing to help the hundreds of thousands of others it is a far more realistic appraisal for.

one can always try to aggressively price and market their timeshare on any number of websites (along with other options) and extract as much as they can out of the resale market....but that is certainly going to take significantly longer to find that perfect buyer in most situations.

I would like to apologise, I first started reading info that was very negative, after reading your comments, I then took a real look at this site and found it very interesting and helpful. I will support this site. Didn’t mean to make everyone so upset

Great!!!! You came back!!!

upandadam said:

I would like to apologise, I first started reading info that was very negative, after reading your comments, I then took a real look at this site and found it very interesting and helpful. I will support this site. Didn’t mean to make everyone so upset

Click to expand...

I don't think you upset anyone. Glad you saw TUG for what it really is....a great resource with lots of folks that are here to help and answer questions.

upandadam said:

I would like to apologise, I first started reading info that was very negative, after reading your comments, I then took a real look at this site and found it very interesting and helpful. I will support this site. Didn’t mean to make everyone so upset

Click to expand...

Lively discussion and meaningful exchange is always good. Your original post triggered and encouraged both --- no need for apology. Welcome to the fray.

Beaglemom3 said:

HUH ? Help me to understand the problem you seem to have with helping a buyer make an informed decision based on honest information.

The expectation is that one will transact every sale based on full disclosure. Nothing more, nothing less.



-

Click to expand...

I know this thread is a little old but this response just keeps making me laugh. I showed it to my husband. He loves it too.

jehb2 said:

I know this thread is a little old but this response just keeps making me laugh. I showed it to my husband. He loves it too.

Click to expand...

Thanks. It sums up what I cannot adequately express in words at times.

All is forgiven now (Upandadam).


-

Not True

The only selling that TUG "kills" are the shark sales that dupe uninformed people into buying something they cannot afford and/or that has been misrepresented. If it weren't for TUG, many, many people would be taken advantage of and would not know how to get out of a bad contract, myself included.

And for the next topic....

" I started off on a two timeshare a year habit....now I'm at three plus lock-offs and points to get me thru the year....Where will it end???? "

:hysterical:

allthingslegal said:

The only selling that TUG "kills" are the shark sales that dupe uninformed people into buying something they cannot afford and/or that has been misrepresented. If it weren't for TUG, many, many people would be taken advantage of and would not know how to get out of a bad contract, myself included.

Click to expand...

I don't think that's entirely true.

Anyone trying to sell a TS around Orlando or Vegas gets roadblocks put up by many posters here.

I have a unit that gets me 4 exchanges every year but people are reluctant to take it over and I'm sure the constant harping not to buy in Orlando has at least something to do with it.

this was too good not to share in this thread, a post made by a timeshare salesperson that posted this as a reply to this thread on our facebook page:

Well , just looking at the big picture, to be honest, I don't see how advertising a time share for one Dollar helps the time share industry, but any way, good luck and keep selling.

Click to expand...

Well, with due respect, and I don't mean to make a long conversation out of this,
When certain compatetors are in business , for example oil or gold or even a few stores , next to each other selling MEAT,
In order to protect that particular business since it is what it is , a business,
They maintain a certain ETHICAL bottom line , why? to protect that business,
When ONE , turnes their back on all others and sells the same product at one fourth of that price ,
Based on history of selling, they are turning their back on all other competitors ,
Also , when Marriot is selling for big dollars and TUG is advertising for ONE dollar ,
I am thinking TUG , may have the clear responsibilty to varify reasons , UP FRONT & ON THE SAME ADD , on the possible horrifying status they may be putting that customer in. Thank you. Good luck.

Click to expand...

TUGBrian said:

this was too good not to share in this thread, a post made by a timeshare salesperson that posted this as a reply to this thread on our facebook page:

Click to expand...

So collusion is now a normal business ethic?

taterhed said:

And for the next topic....

" I started off on a two timeshare a year habit....now I'm at three plus lock-offs and points to get me thru the year....Where will it end???? "

:hysterical:

Click to expand...

Seriously, right?
I started out looking for one and ended up buying 3. We use those three plus rent some others. Crazy.

Ty1on said:

So collusion is now a normal business ethic?

Click to expand...

Also, do salesmen "varify" on the same contract, in writing, on the probably horrifying status their victims are buying into?