mj2vacation
Guest
I’ve known about the resale program for a long time, but it’s interesting that they are now marketing it as an exit program.
https://www.marriottvacationclub.com/exit/
https://www.marriottvacationclub.com/exit/
I’ve known about the resale program for a long time, but it’s interesting that they are now marketing it as an exit program.
https://www.marriottvacationclub.com/exit/
Being curious, I called on one of my Monarch summer weeks. I was told that I would be given 4,200 after it closes. This is a summer week that if rented can get me 2300 since it has a great ocean view. It takes about 2600 DP points to get into it.
If put in the trust, not discounted Marriott would get about $36,000. If they wanted to create a bundle of 5200 points at 9.5 dollars a point, this would put the resales value of the Monarch to Marriott at 12,740. The Math $9.5*5200 = $49,400. $49,400 - (2600*$14.10) = 12,740. Depending on the desired $ per point for Marriott, the value of the Monarch week will go up or done.
I can see how this would be a benefit to Marriott and why it makes sense for Marriott if they can get a valuable week. Also, if they added it to the trust and not the bundled package, the MF of the unit is greater than the MF of 2600 points so in this case, they would get the upfront money and have all DP owners absorb the higher MF of the unit. This is really a win for them.
Was the $4200 a buy back offer or a brokered resale offer?
So net from a brokered resale. They haven't been offering any actual buy backs in about a year or two (maybe more), just wondering if that had changed. They wouldn't be able to add your week to the trust, if they do a brokered resale, they just make a 40% commission on the sale when it sells.The 4200 is net I would see.
So net from a brokered resale. They haven't been offering any actual buy backs in about a year or two (maybe more), just wondering if that had changed. They wouldn't be able to add your week to the trust, if they do a brokered resale, they just make a 40% commission on the sale when it sells.
They wouldn't be able to add your week to the trust.
Were they offering you the same whether it was a sale or a buy back?Sorry I wasn't more clear.. two options.. resale my unit for the commission or buy it back (they are in fact the buyer) and put it into the trust. If they did this, they get 36,000 and add the MF to the MF of the trust.
They would give me 4200. No discussion on a buyer. It was a quick discussion because of curiosity, not desire to sell. My next question will be my summer Monarch Oceanfront unit. Again out of curiosity.Were they offering you the same whether it was a sale or a buy back?
I have brought this up when I get an owners update. I have suggested that the Timeshare Clubs offer some sort of trade in program, must like a car dealer buys your old car when you purchase a new one. It could be a way to sell a new buyer a "used" timeshare very cheap to get them into timesharing. Many timeshare owners I have talked to would have gotten in earlier if they could have purchased one cheaper. I own several and would like to concentrate my holding into a couple of clubs. Being retired I am enjoying my timeshares with my family.I’ve known about the resale program for a long time, but it’s interesting that they are now marketing it as an exit program.
https://www.marriottvacationclub.com/exit/
Being curious, I called on one of my Monarch summer weeks. I was told that I would be given 4,200 after it closes. This is a summer week that if rented can get me 2300 since it has a great ocean view. It takes about 2600 DP points to get into it.
If put in the trust, not discounted Marriott would get about $36,000. If they wanted to create a bundle of 5200 points at 9.5 dollars a point, this would put the resales value of the Monarch to Marriott at 12,740. The Math $9.5*5200 = $49,400. $49,400 - (2600*$14.10) = 12,740. Depending on the desired $ per point for Marriott, the value of the Monarch week will go up or done.
I can see how this would be a benefit to Marriott and why it makes sense for Marriott if they can get a valuable week. Also, if they added it to the trust and not the bundled package, the MF of the unit is greater than the MF of 2600 points so in this case, they would get the upfront money and have all DP owners absorb the higher MF of the unit. This is really a win for them.
For years, they routinely did these "trade-ins" on upgraded weeks when they were still selling weeks. And the trade-in price was quite good; in some cases they applied the full purchase price of your old week to the new week being purchassed. We traded in our two MOC EOY weeks in the old towers toward the purchase of two annual weeks in the new towers when they were built. I don't know if they have done any trade-ins since they went to points, but it would seem to make sense.I have brought this up when I get an owners update. I have suggested that the Timeshare Clubs offer some sort of trade in program, must like a car dealer buys your old car when you purchase a new one.
I have asked MVC Resales (Exit) more recently about trading our St Kitts weeks for Club Son Antem weeks.For years, they routinely did these "trade-ins" on upgraded weeks when they were still selling weeks. And the trade-in price was quite good; in some cases they applied the full purchase price of your old week to the new week being purchassed. We traded in our two MOC EOY weeks in the old towers toward the purchase of two annual weeks in the new towers when they were built. I don't know if they have done any trade-ins since they went to points, but it would seem to make sense.
I have asked MVC Resales (Exit) more recently about trading our St Kitts weeks for Club Son Antem weeks.
Their answer was that this could only be possible (if at all) as two separate transactions
- selling us Club Son Antem weeks (European resort weeks are still being sold, but at high prices)
- helping us sell St Kitts weeks (but with no guarantees)
So this is neither a practical nor a cost effective option for us.