Was considering eBay Bid - Input/Feedback Sought from Fellow TUG Members

[NYFLTRAVELER]

Had been considering making an online bid through ebay site on a past listing for deeded "float gold" week (18-21, 35-50) at an Orlando MVCI resort property described as "deeded as unit xxxx, week 46". Description was for an annual floating gold 2 br/2 ba. delivered with clean title, maintenance fees approx $1100, no known assessments and usage beginning year 2015.

Bids were $600-800 range at the time that auction closed.

I guess my question is it seemed too good to be true that somebody could get this on eBay for under $1,000 when resale sites were listing floating gold resales for same in the $20,000 range.

What am I missing here or was this seller that desperate to unload their TS?

To my TUG friends, thoughts/opinion/comments on this particular scenario and eBay in general for Marriott TS weeks please?

Thanks.

SBD

 

[dioxide45]

Gold Orlando weeks generally sell in this range. EBay is also has the lowest resale prices out there. You can't compare them to what people list weeks for on other sites since many people don't know the true value (or lack thereof) of their timeshare week.

Gold Orlando weeks are really actually pretty good weeks to buy, they are cheap, have low MFs, and can trade fairly good if you are willing to travel in shoulder or off season.

 

[NYFLTRAVELER]

Thank you. Yes looking at the charts, and having young kids, I would travel either around Memorial Day, week leading into labor day or Thanksgiving time. May be worth the investment if the cost really is $1000 or so and the MF's are in the $1200 range as a hotel room could be +/- $200 plus tax per night. I still think I am missing something but maybe not. Just odd seller would sell for the $1000 range when other people are listing what appears to be the same thing on resale websites for nearly $20,000.

 

[dioxide45]

Thank you. Yes looking at the charts, and having young kids, I would travel either around Memorial Day, week leading into labor day or Thanksgiving time. May be worth the investment if the cost really is $1000 or so and the MF's are in the $1200 range as a hotel room could be +/- $200 plus tax per night. I still think I am missing something but maybe not. Just odd seller would sell for the $1000 range when other people are listing what appears to be the same thing on resale websites for nearly $20,000.

The thing is that those people listing for $20,000 are not going to sell their weeks. They will sit there forever. They are delusional. The good thing is, if you are looking at Grande Vista or Harbour Lake, you can also lock those units off and get two weeks out of one. Effectively making your cost per week about $600.

 

[GregT]

Yes, that's the current market price for one of those Gold weeks. I agree with Dioxide that the people asking $20K will never sell their units -- nor will they sell them for $5K.

Traditional week ownership continues to look attractive (if you will use it for personal use) versus points ownership.

We may find the ideal combination morphs into owning a legacy week for personal use, and then appending on a (rented or owned) points reservation for additional days.

Best,

Greg

 

[NYFLTRAVELER]

The thing is that those people listing for $20,000 are not going to sell their weeks. They will sit there forever. They are delusional. The good thing is, if you are looking at Grande Vista or Harbour Lake, you can also lock those units off and get two weeks out of one. Effectively making your cost per week about $600.

This particular listing if I recall said cannot lock off 2br/2ba (which is fine in theory) but would that make a difference in your opinion?

 

[pwrshift]

I discussed ROFR with a salesman at Manor Club last week and he said Marriott doesn't even want them because the deeds can't be converted to DC if Marriott buys them...and weeks are a dying breed. He also said if Marriott did buy a $300 week and sold it for $20,000 the govt. could consider it a ponzi scam. He pulled out a number of sheets showing all the sales that went through and that Marriott only exercised ROFR on a very small number of them. If this is true it does make you wonder why they bought any of them.

 

[GregT]

I discussed ROFR with a salesman at Manor Club last week and he said Marriott doesn't even want them because the deeds can't be converted to DC if Marriott buys them...and weeks are a dying breed.

Can't be converted to DC? I think he is a buffoon.

 

[BocaBoy]

Can't be converted to DC? I think he is a buffoon.

That is being kind to him, Greg.

 

[Saintsfanfl]

I guess my question is it seemed too good to be true that somebody could get this on eBay for under $1,000 when resale sites were listing floating gold resales for same in the $20,000 range.

There are no Orlando Marriott's being sold for $20K resale. Not even Marriott themselves broker them for $20k. Well, one exception. Marriott will broker a 3BR Premier Platinum at Lakeshore Reserve for $21K.

List prices don't mean a thing.

 

[Quadmaniac]

You can get a platinum week for under $1000 sometimes. Not uncommon, you just have to keep your eye on eBay for it.

www.ebay.com/itm/111389769985?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2648

 

[NYFLTRAVELER]

Had been considering making an online bid through ebay site on a past listing for deeded "float gold" week (18-21, 35-50) at an Orlando MVCI resort property described as "deeded as unit xxxx, week 46". Description was for an annual floating gold 2 br/2 ba. delivered with clean title, maintenance fees approx $1100, no known assessments and usage beginning year 2015.

Bids were $600-800 range at the time that auction closed.

I guess my question is it seemed too good to be true that somebody could get this on eBay for under $1,000 when resale sites were listing floating gold resales for same in the $20,000 range.

What am I missing here or was this seller that desperate to unload their TS?

To my TUG friends, thoughts/opinion/comments on this particular scenario and eBay in general for Marriott TS weeks please?

Thanks.

SBD

eBay listing Grande Vista of Orlando of annual floating gold 2 br/2 ba. delivered with clean title, maintenance fees approx $1100, no known assessments and usage beginning year 2015 -- went for $400. In your opinion, good deal or bad deal?

 

[dioxide45]

You can get a platinum week for under $1000 sometimes. Not uncommon, you just have to keep your eye on eBay for it.

www.ebay.com/itm/111389769985?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2648

There was this Gold Grande Vista auction that ended today that perhaps the OP was looking at.

If the seller submits ROFR at these auction prices, I suspect they won't pass given the annual usage. Though we know ebay sellers tend to bake in their other fees in the ROFR waiver request amount.

 

[NYFLTRAVELER]

You can get a platinum week for under $1000 sometimes. Not uncommon, you just have to keep your eye on eBay for it.

www.ebay.com/itm/111389769985?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2648

I wonder if Marriott exercised their ROFR and took this back. Seems too good to be true.

 

[dioxide45]

I wonder if Marriott exercised their ROFR and took this back. Seems too good to be true.

They probably did. Though not because it is too good to be true, at least not based on sales a few years ago. We picked up a 2BR Harbour Lake gold in 2009 for only $809. That week originally sold for about $18,000. You can't compare resale prices to what was originally paid for the unit.

I think however that more buyers are now scared off by ROFR. They are just not going to bother bidding because they know they will just lose it to ROFR. That is why we are seeing depressed prices on some of these ended auctions.

 

[jme]

Be patient

Consider a platinum Manor Club Sequel lockoff week (under $1000), which has one of the lowest maintenance fees of any Marriott. Split the week and trade into your destination of choice, i.e. Orlando, and in the process gain two up-trades: studio > 1-BR master villa w full kitchen, and 1-BR master > 2-BR, giving you TWO good weeks. Orlando is an easy trade anytime.

 

[dioxide45]

Consider a platinum Manor Club Sequel lockoff week (under $1000), which has one of the lowest maintenance fees of any Marriott. Split the week and trade into your destination of choice, i.e. Orlando, and in the process gain two up-trades: studio > 1-BR master villa w full kitchen, and 1-BR master > 2-BR, giving you TWO good weeks. Orlando is an easy trade anytime.

I think for comparison sake, Williamsburg and Orlando are pretty much the same. Both are overbuilt and have almost identical MFs. Though I might perhaps give Orlando an edge because of a more even demand over most of the year where Manor Club is peak summer and then demand really drops off. Manor Club is also a pretty easy trade any time of the year. Though I think perhaps Manor Club Platinum sells a little cheaper.

 

[jme]

I think for comparison sake, Williamsburg and Orlando are pretty much the same. Both are overbuilt and have almost identical MFs. Though I might perhaps give Orlando an edge because of a more even demand over most of the year where Manor Club is peak summer and then demand really drops off. Manor Club is also a pretty easy trade any time of the year. Though I think perhaps Manor Club Platinum sells a little cheaper.

if for trading only, especially into Orlando or anywhere else, Manor Club platinum is at least equal to, but imho, much better than GV gold. Plus it has lower maintenance fee and lower up-front cost to purchase. why not?

not related to the OP's need, but there's another great perk, the real reason I got one for myself, but I'm holding that thought.



.

 

[NYFLTRAVELER]

On an offer like the example I posted what do you think the fair market value of the floating gold is at this resort nowadays and what do you think the owner paid for it (even a range) in its hey day?

 

[jme]

On an offer like the example I posted what do you think the fair market value of the floating gold is at this resort nowadays and what do you think the owner paid for it (even a range) in its hey day?

jmho, but $800-1500 now (on Ebay, depending on the moment. It varies from time to time. Still, Ebay is the best source for resale purchases, hands down. Prices are going up, have since 18 months ago, just based on observation.)

vs $18,000-20,000+/- from developer.

the cost differences, to you NYFLTRAVELER, are totally irrelevant. Has absolutely no meaning today. Same for any other resort, for that matter.

Great cars used to cost $1500 in 1968....that's also irrelevant. Same for $20,000 weeks in 1999, only it's reversed. TS market's bottom fell out, just that simple.


.

 

[dioxide45]

if for trading only, especially into Orlando or anywhere else, Manor Club platinum is at least equal to, but imho, much better than GV gold. Plus it has lower maintenance fee and lower up-front cost to purchase. why not?

not related to the OP's need, but there's another great perk, the real reason I got one for myself, but I'm holding that thought.



.

The Manor Club MFs are not cheaper than Orlando. They are pretty much on par with Harbour Lake but are about $50-$60 higher than Grande Vista. Manor Club has it beat on upfront cost. Platinum at Manor Club does beat out Gold Orlando in terms of trade power and price.

In the end, I don't think you can go wrong with Platinum at either one. Though if one likes to golf, Manor Club is probably a better option

ETA: Thinking about this more, Platinum Manor Club sounds like a better option. Given that it costs about the same as Gold Orlando. So why such the depresses resale prices at Manor Club?

 

[dioxide45]

On an offer like the example I posted what do you think the fair market value of the floating gold is at this resort nowadays and what do you think the owner paid for it (even a range) in its hey day?

You need to ignore what the owner paid for the week. It has zero relevance to the current value on the resale market.

 

[jme]

The Manor Club MFs are not cheaper than Orlando. They are pretty much on par with Harbour Lake but are about $50-$60 higher than Grande Vista. Manor Club has it beat on upfront cost. Platinum at Manor Club does beat out Gold Orlando in terms of trade power and price.

In the end, I don't think you can go wrong with Platinum at either one. Though if one likes to golf, Manor Club is probably a better option

ETA: Thinking about this more, Platinum Manor Club sounds like a better option. Given that it costs about the same as Gold Orlando. So why such the depresses resale prices at Manor Club?

don't know about GV's mf, but last time i checked, a long time ago, seems it was higher, so i'll spot you that one. Otherwise i like Manor Club for his needs. Being platinum at Manor Club is a not such a little deal.

and.....yes, Manor Club has a great golf course, but GV also has the (former?) "Faldo Golf Academy" and Grande Vista Golf Club, so golf has no bearing on my decision to buy at Manor Club ........but there's still a fantastic perk to owning Manor Club...again, I'm holding that thought. All things considered, there's nothing in the system that does what it does for the cost, and nobody's ever mentioned it. There is ONE other resort that sort of compares (altho slightly higher purchase price), but something else about that one rules it out, big time.)

 

[Beefnot]

They probably did. Though not because it is too good to be true, at least not based on sales a few years ago. We picked up a 2BR Harbour Lake gold in 2009 for only $809. That week originally sold for about $18,000. You can't compare resale prices to what was originally paid for the unit.

I think however that more buyers are now scared off by ROFR. They are just not going to bother bidding because they know they will just lose it to ROFR. That is why we are seeing depressed prices on some of these ended auctions.

A disciplined ROFR program does not depress resale prices; rather it buoys resale prices. DVC and HGVC are examples of this.

 

[jme]

A disciplined ROFR program does not depress resale prices; rather it buoys resale prices. DVC and HGVC are examples of this.

absolutely correct, but I think dioxide simply meant that bidders perhaps become disinterested earlier nowadays during an auction and stop bidding it up, knowing that ROFR will kick in anyway, so they abandon the auction at lower bids.

ROFR's purpose is definitely to prop up prices. Like the old developer argument that "you won't get Rewards Points" if you buy resale...same ultimate goal.