[ 2008 ] SVO eBay Sales

[DanCali]

eBay auction http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=180419139043&ssPageName=STRK:MEWAX:IT

Seller was somewhat confused; the ad states that StarOptions will transfer (he quoted "Starwood supervisors" who told him it was "mandatory"; he also said other supervisors told him it was "voluntary", so he knew the lingo).

Otherwise the ad was well constructed. The seller had 100% positive feedback.

I'm pretty sure he managed to confuse the buyer too... $13K+ for a voluntary resort (with $2600 MFs) that you can get with an II exchange?

 

[keepgoing]

to be added to the ebay sale database - St John

3BR Westin St John Week 26 Unit 4113 Gold Plus Annual SO-104.1K (Oct 22,09) $21,711
http://cgi.ebay.com/3BR-Westin-St-J...dZViewItemQQptZTimeshares?hash=item19b6956a80

1BR Westin St John Week 40 Unit 3423 Gold Plus Annual SO-44K (Oct 22, 09) $5,610
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=110437355412&ssPageName=STRK:MEWAX:IT

 

[tomandrobin]

Good prices for both, just hate to pay those "inflated" maintenance fees right now.

 

[DavidnRobin]

a 3Bd for $22K is amazing - week 26 is carnival week on STJ (most times) - after that the island goes into hibernation mode. Of course - whether it the sale actually goes thru is another matter considering the inaccuracies in the auction (and the low price - ~$10K below).

There is no ROFR for WSJ.

 

[DanCali]

I tend to look at this more as $22K IS the market price for a 3BR rather than $22K is $10K below market... IMO markets can be inefficient, but not THAT inefficient. There are just too many people watching these auctions to create a $10K arbitrage for a buyer.

IMO - the value of these expensive mandatory resorts (WSJ, WKORV, HRA) will untimately be determined by their MFs. Everything else - view, location, decor, will become meaningless as MFs rise. I would even venture to say that a rough approximation of the decay in value (at these market prices) is an increase of $100 in MFs translates to a loss of $1500-$2000 in market value. It sounds like a lot but if you think about it carefully you will see that it's been pretty close to the way resale values changed. Sure, you can blame some of it on the economy if you really want to (although MFs were rising and resale prices dropping even before the recession) - so maybe it's $1200-$1500 per $100 increase in MFs, but you get the idea.

 

[tomandrobin]

I think that both of those resale prices are below market, but I also think that the current maintenance fee/assessment is severely effecting those prices.

 

[DavidnRobin]

Reminder to read 1st post regarding eBay sales (just because an auction is successful does not mean that the sale finalized)

If one goes to the USVI Recorders site (and use some clever searches) - it will show what purchase prices have actually been...

 

[Westin5Star]

3BR Westin St John Week 26 Unit 4113 Gold Plus Annual SO-104.1K (Oct 22,09) $21,711
http://cgi.ebay.com/3BR-Westin-St-J...dZViewItemQQptZTimeshares?hash=item19b6956a80

I wish that I would have caught this one. It is exactly the week and unit that I am interested in.

 

[DanCali]

Reminder to read 1st post regarding eBay sales (just because an auction is successful does not mean that the sale finalized)

If one goes to the USVI Recorders site (and use some clever searches) - it will show what purchase prices have actually been...

If one were truly to rely on USVI recorders site purchase prices to determine market value, then they would buy on eBay for $22K and flip it... If I had enough conviction to believe something was underpriced by 5 figures (or 40-50%), I know that's what I would do!

 

[DeniseM]

I wish that I would have caught this one. It is exactly the week and unit that I am interested in.

If I were you, I'd contact the seller and tell him you want to buy it if the sale doesn't go through. Since ebay TS auctions are not binding, I think a fair number of them are never completed.

 

[Westin5Star]

If I were you, I'd contact the seller and tell him you want to buy it if the sale doesn't go through. Since ebay TS auctions are not binding, I think a fair number of them are never completed.

Great Idea- Thanks.

 

[Ken555]

WKORV-N 2-Bed IV - $14,100

 

[DanCali]

WKORV-N 2-Bed IV - $14,100

Held up nicely but seller listed it with 2009 MFs... Let's see where this one ends up in 5 days.

 

[sjuhawk_jd]

...
IMO - the value of these expensive mandatory resorts (WSJ, WKORV, HRA) will untimately be determined by their MFs

In the case of HRA, the resale value is also determined by the rental values. As long as units are renting over two times the MFs, there is no stress. In the case of WSJ, and even WKOV, the rental market is not as strong as HRA (to easily get over two times the MFs).

 

[Ken555]

Held up nicely but seller listed it with 2009 MFs... Let's see where this one ends up in 5 days.

Chances are that one won't even sell, since it's got a reserve.

And, wow, I don't think $14,100 is holding up nicely at all. I was watching it this evening and it was at $8,400 for a while, then jumped to $12 then $13, and only in the last few seconds did it go to $14... I'm sure two or three bidders were using programs to snip at the end.

 

[DanCali]

Chances are that one won't even sell, since it's got a reserve.

And, wow, I don't think $14,100 is holding up nicely at all. I was watching it this evening and it was at $8,400 for a while, then jumped to $12 then $13, and only in the last few seconds did it go to $14... I'm sure two or three bidders were using programs to snip at the end.

I am not sure this one sells either when the buyer finds out MFs are 30% higher that advertised...

By "held up nicely" I meant that this is not too much below a similar unit that got bid up to $15K about 2 months ago, before 2010 MFs were public. You could interpret this as a bid of about $17K because the seller wanted 2009 MFs reimbursed for a transaction that would have closed in December... - in that case $14.1K is substantially less already.

Even if the other one doesn't pass reserve it'd be interesting to see how high it gets bid up compared to this benchmark. I would have expected a much larger impact for such a big difference in MFs - even below $10K wouldn't surprise me at this point...

 

[Captron]

How about the SBP 2BR that got NO BID at $1 the other night! (It is relisted the icon is a green $.)

 

[Ken555]

How about the SBP 2BR that got NO BID at $1 the other night! (It is relisted the icon is a green $.)

Wow - this auction even includes closing fees. It seems the seller does this for all his timeshare auctions - I wonder how much he charges people to list their timeshare...

 

[SDKath]

Just as an aside, there is some poor guy on redweek trying to sell a week 52 OFD for $115,000. I emailed him saying that with that price, one would expect to buy directly from Starwood and get retro privileges as well as loads of bonus SPs. He emailed me back saying that his price is $5000 less than what Starwood is charging currently for that event week.

Katherine

 

[vacationtime1]

How about the SBP 2BR that got NO BID at $1 the other night! (It is relisted the icon is a green $.)

This is what they used to call a gold week (may have been renamed to something sounding better) -- weeks 1, 7-8, 44-46, 51-52. It was never worth much. With the "new and improved" Starwood trading system + the 20% increase in MF's, it is worth even less. I'm not surprised that no one wants it at any price.

 

[jw0]

Another SBP just sold on ebay for $77, with closing costs paid by seller.

This one was the best season for the old phase, 9-43/47.

Wow, that's a good price. I understand that there are many issues with SVN, (II, MFs) but even at the higher current MF, it's still a good value for a week vacation in myrtle beach for 8 (at least I think so).

And I thought I bought at the bottom of the market. Guess not.

-John.

 

[yumdrey]

I have been watching that auction too. There was no bidding until the last moment, and it was done at $77. That price includes closing cost.
A few weeks ago, there was an auction on ebay for SBP, seller had reserve and the starting bidding was $500. It was a 2BR unit for week 9-47 (gold plus), and of course there was no bidding. After the auction was done with no bidding, I contacted seller and asked what was reserve and how much the seller wants. He/she said, Sheraton sells it for over $14,000 now, and he/she wants at least $10,000. I didn't reply to seller.

 

[Captron]

That SBP Gold week went through AGAIN without a $1 bid. It has been relisted for the third time at $1 with a buy it now for $75.

Also of note WKORVN annual went for $11100 and the biennial went for $5877.

Scary that I could not talk anyone out of a biennial for $12k less than a year ago. Welcome to MF season with BIG jumps.

HAPPY THANKSGIVING!

 

[thinze3]

... Also of note WKORVN annual went for $11,100 and the biennial went for $5877.

Scary that I could not talk anyone out of a biennial for $12k less than a year ago. Welcome to MF season with BIG jumps.

HAPPY THANKSGIVING!

... with the retail price of the annual OV 2BR units at WKORVN at about $75,000.

 

[bryanphunter]

I just purchased EOY 2BR at SDO

I won 2 bedroom lock-off for $735.00 yesterday. EOY (Even), I have 3 weeks of odd year in Maui and was looking for someplace nice for my even years.

With all the complaints about SVO, I was hesitant, but I decided my investment of $1300 plus $465 MF was worth having a lock-off.

I don't plan on exchanging this unit. In fact I may exchange one of my maui weeks for an additional week either at SDO or similar duiring our vacation to Arizona.

http://cgi.ebay.com/2BR-Sheraton-De...dZViewItemQQptZTimeshares?hash=item56372e18a6

Did I get a good deal?