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[ 2008 ] SVO eBay Sales

thinze3

thinze3

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Jarta, there is no question that both Marriotts and Westins in Hawaii have had drastic reductions in value, but from what I have seen, these 'super fees' imposed on the Westins appear to be the driving force behind their very recent freefall.

I purchased my EOY IV at Waiohai about three and a half years ago for about $10.5K and have probably now lost about 35% of my value. These Westins appear to have lost nearly 50% or more in less than one year. Trust me, I have been watching for a bargain WKORV, but I am not sure I want one at any price with $2400 mf's.

Now that airfares are creeping back up again, I can't imagine that the prices for both will do anything but continue their downward trend.
 
DanCali

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Stefa said:
Dan

It's been several years since I stayed at Canyon Villas, but WKV is a much nicer property, imo. Also, MCV has 1br + studio while WKV has 1br + 1br configuration. I wouldn't necessarily say the quality and configuration difference justifies the fee difference, but it can't be ignored either.
Click to expand...

I've never had a problem with fee differences betwen Marriott and Starwood. My problem is the annual percentage increases.

If Starwood was $800 and Marriott was $600 and a year later Starwood increases by $40 to $840 and Marriott by $30 to $630 that's a 5% increase for both (although Starwood's increase was $10 more because they started with a higher base). I can live with that.

It looks suspect when Starwood has 5%-10% (10%-15% in Hawaii) annual increases and Marriott operating expenses at resorts in the same areas increase by a much lesser percentage (in the case of Canyon Villas, their operating expenses actually decline).

Recall that 7% per years means fees double every 10 years (and at 10% a year they double every 7 years). Neither at 7% not at 10% can you even think about leaving these VOIs to your heirs. If the reality is increases consistently greater than inflation (average 2%-3% a year in the US) this is like a pyramid scheme where the last person who owns thetimeshare loses (except all the owners who owned in between lose out also because their equity losses + MFs would cost more than rentals).
 
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C

Captron

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


Just to close this issue. The unit closed for the THIRD time tonight and got bid up to....... $5.50 with a handful of bids. OUCH!!! Although better than closing without ANY bids I guess. I hope the owner REALLY wanted out!
 
James1975NY

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S

Stefa

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olivias dad said:
Even tho it's not the most demanded week of the year, this is still a steal at WSJ - MF's are higher than what is listed tho, which is such a deterrent....

http://cgi.ebay.com/WESTIN-ST-JOHN-STARWOOD-POINTS-CARIBBEAN-TIMESHARE_W0QQitemZ350287274968QQcmdZViewItemQQptZTimeshares?hash=item518ebfa3d8
Click to expand...

The sad part is the owner didn't even get the full sale price, since they would have had to pay redweeks4less to list the week. I hope they didn't pay someone $$$$ to take the timeshare off their hands.
 
DanCali

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jerseygirl

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DanCali said:
This lists MFs of $2500 for a 1BR. That's over $350/night. Is that right?
Click to expand...

My records show it's $2293, plus SVN fee ... plus taxes whenever they're settled so $2500 was a good quote. But, it includes the 3-year special assessment (2009, 2010, 2011).

Yes -- it's high, but compared to rentals at the resort, it's a bargain. To rent this same room from Westin:

Average est. room total per night** Estimated total for your stay**
1 room(s) for 7 night(s)
Room rate: USD 1,350.00 USD 9,450.00
Room rate excludes the following:
Room Tax: USD 108.00 USD 756.00
8.00 % Per Room / Per Night
Resort Charge: USD 40.00 USD 280.00
USD 40.00 Per Room / Per Night
Estimated total*: USD 1,498.00 USD 10,486.00

They run specials from time to time, but it's a high rental, no matter what the discount.
 
DavidnRobin

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I am also very glad that he got this price since it is well over what these villa-types have been selling for (and what we paid)

The ad may have been well-written, but when the auction winner finds out that the MFs are $2800, and taxes have not been paid since 2006 - they will have reason to back out.

With the real check-in date of Fri (I actually like Fri check-in better since STT is a zoo on Sat) and not Sat - unlikely that the auction winner will find out that it is very difficult to move within season (e.g. move to a Sat check-in) until it is too late (unless they find TUG). also - no mention of whether 2010 was reserved - and what the dates are (?)

so from this aspect (giving the winner a reason to back out because of bad info) - the ad which made the resort and island sound inticing - has many holes which may negate the sale. I would opt for and inticing ad that had correct and transparent info (for the most part)
 
thinze3

thinze3

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WOW! It is indeed nice to see any timeshare sale for over $20K on eBay. It has been a while since I have seen that.
 
LisaH

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I was thinking that the M/F was lower than it should be. Someone asked about this and he had a convoluted explanation...Anyway, I said it's well-written, just didn't mention that it's also somewhat misleading :)
 
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