Advice on selling a time share

[tbronson]

Hello,

Let me first thank you all for your posting to my request for help. Also let me apologize. I am not trying to advertise a sale here. I just want to get an idea as to how much I can expect to try to sell the bleeding thing for.

My wife and I bought a timeshare in Cancun on our honeymoon back in 2001 that gave us a 99 year lease of two red float weeks with a golf package in a studio that sleeps a max of 4 people. We have access to the other properties they have in Mexico and can use REI. Supposedly it is a rather highly rated place.

Well after we did that we never used it. Once we donated the weeks to charity and that worked out well but we just had our first baby and find that the odds of us using it are about zero and paying the maintenance fees just don’t make sense.

So my question is this. Based on what I have said can I expect to possibly get 50% of its value? Or am I fooling myself and should resign myself to paying quite a bit for experience? Also where can I go to get an idea of what the going rate is? I have read all the threads here on ebay and the like but there is no good data for me to compare what I paid and what people are selling theirs for.

Thank you again for your help and time.

 

[Spence]

Without knowing more, chances are you won't get 10-20% of your purchase price back. You say you've checked eBay, did you do a search for your resort or even for cancun in the Timeshares for sale using advanced search checking completed auctions?

 

[debraxh]

Unfortunately the price you originally paid has no relevance on what you could get for your week resale. It's only worth what someone else is willing to pay, and the best source I've found is ebay, because that's what people have actually paid -- not what someone is asking. Even if there are no recent completed auctions for your resort, you should be able to find a similar quality resort in the same area at a similar time.

There is a Tug sales database (click on "Tug resort databases" in the red bar at the top of the screen) but the information is not always plentiful or current. You could also check asking prices in places like the Tug classifieds or myresortnetwork.com and use the lowest prices as a guideline of what you might actually get.

Another option might be to just keep your weeks and exchange for something more suitable for your family vacations. There's also great information on exchanging in the "advice" section (also on the red bar at the top of the screen)

good luck

 

[Bill4728]

Unfortunately the price you originally paid has no relevance on what you could get for your week resale. It's only worth what someone else is willing to pay, and the best source I've found is ebay, because that's what people have actually paid -- not what someone is asking. Even if there are no recent completed auctions for your resort, you should be able to find a similar quality resort in the same area at a similar time.

I've been thinking alot about this and believe that Deb's advise is right on. There are many, many people who use Ebay to buy and sell Timeshares. These people seem to have a pretty good idea of what TS are worth on the open market. So you'll seldom see a TS sell for way too low. So if you can find a couple of TS, like yours and average the selling price it will give you a good idea of what it worth. A bargain on Ebay may be 20% under the best price possible. So you may sell a $10K TS for between $8K and $12K, but it's unlikely to sell a $10K TS for $3K unless $3K is the true value of the TS.

 

[Dave M]

There is a Tug sales database (click on "Tug resort databases" in the red bar at the top of the screen)....

Note that TUG membership - separate from BBS registration - is required for access to the database.

 

[tbronson]

Without knowing more, chances are you won't get 10-20% of your purchase price back. You say you've checked eBay, did you do a search for your resort or even for cancun in the Timeshares for sale using advanced search checking completed auctions?

Thank you for your time Spence.

Yes, I did do a search on both Cancun and completed auctions. As it turns out after talking to the resort it is a registered week and a bonus week with golf package and red weeks with Christmas, New Years, and Holy Week/Easter excluded. It is for a resort that starts with the letter M if I am permitted to say that.

 

[tbronson]

Thank you all

Folks-

Thank you all for your replies! I am going to chalk this up to an expensive lesson learned for life and do the best I can to come out in the black on this.

Honestly after looking at all of the factors involved trading for something else is not really an option because our lives will be consumed with rasing our son for the next 5+ years before I would feel comfortable taking him on a vacation (he is 3 months now ;>) and exposing other people to a child on a trip. Having been on the other end of that equation and cursing quietly to myself the parent(s) and their lack of respect for other people I am not keen on being said type of parent.

Thank you again.

 

[marion10]

Please don't wait 5 year before taking your son on vacation! Timeshares are perfect for traveling wih children because you have a kitchen and a separate room for the baby.

 

[JACKC]

I agree with Marion10 and others.

Timesharing gives a wonderful opportunity for family time away from the scene and pressures of daily living. Toddlers (even babies) would be thrilled to have parents to themselves for play for extended periods.

Surely, there must be fun places to go within easy driving distance of LA where you could exchange. Impact of a fussy baby on others can be minimal if you plan.

Jack