Almost pressed the "bid" key on ebay for HGVC

[Papa2015]

Thought I would share our decision process in purchasing an HGVG property and why we decided not to. I'm having a little bit of non-buyers remorse, but I think my DH and I made the right decision...for us.
We currently own three separate 3 UL (sleeps 12, space banked into six - 2 bdrm units) at Summit at Massanutten that we purchased over 15-20 years ago on the secondary market. My husband is very, very good at turning our units into extra credits and over the past couple years since we retired in 2018, we have been able to trade into numerous weeks at HGVC properties namely, Lagoon Tower, 2 bdrm sept, 2018 (water view), Sea World, Orlando; Tuscany, Orlando; Marbrisa, Carlsbad; Kings Land, HI; Elara, LV; Flamingo, LV; all pre-Covid. We absolutely love HGVC. whenever we see an opening on RCI, (we figured out that HGVC dumps some units into RCI every April) but hate the 1 in 4 rule and thought we would look into purchasing an HGVC property on ebay or redweek, so that we could supplement our weeks vacations with HGVC points. We have only weeks, as I said, and we have very low MF at Massanutten.
We spent the last month or so surfing HGVC properties on the above mentioned sites and TUGG marketplace, and there are GREAT deals out there.
Last night, we had our finger on the bid key - but something was holding us back to spend thousands of $'s and high maintenance fees only to supplement what we already have. We are in our mid-60's and of course, wonder if an investment of this much money at this stage in our lives is smart.
We have done a lot of research on TUGG, and have read advice to other members or guests about purchasing vs. renting. We decided to rent an available HGVC unit when we are wanting an HGVC experience for a few days, when we are unable to book one through RCI, or are limited by 1 in 4 rule. We think we can spend almost the same amount in renting from owners as we would have paid in MF's if we bought. True??
Part of me wishes we could become an HGVC owner, but as long as RCI has them for us to trade, we will do that instead. I envy you HGVC owners, wish we would have bought years ago!

 

[brp]

Last night, we had our finger on the bid key - but something was holding us back to spend thousands of $'s and high maintenance fees only to supplement what we already have. We are in our mid-60's and of course, wonder if an investment of this much money at this stage in our lives is smart.

Can you share what you almost bid on and, if you recall, the seller (there's been a lot of discussion on this topic lately)?

BTW, we just turned 60 and I just bid on (and won) an eBay listing yesterday

Cheers.

 

[Papa2015]

Can you share what you almost bid on and, if you recall, the seller (there's been a lot of discussion on this topic lately)?

BTW, we just turned 60 and I just bid on (and won) an eBay listing yesterday
Sure- tocha - 9600 Marbrisa — auction ended w no bids
Cheers.

 

[Talent312]

I understand completely.

I've been a HGVC owner for 13 years and quite happy with the system.
The flexibility and uniformly high quality kept us "in the family."
But given our age these days, we should lighten up not add on.
.

 

[SmithOp]

Owned HGV for 20 yrs, same age now as you. I think you made the wise choice, we won’t attend owners updates or purchase more now.

I think you have the right strategy getting units from the April bulk load into RCI. The 1 in 4 does not apply if you rotate among Kingsland, Kohala, and Bay Club. Likewise you could do Lagoon, Grand Waikikian, Grand Islander, and Kalia. In Carlsbad you have Marbrisa, Seapointe, and Palisades. There are friendly Tug HGV owner that can help you out with rentals right, friends and family...


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[T_R_Oglodyte]

Are sniping apps still popular on eBay? I haven't been involved in an eBay auction for about 15 years. But when I was a bidder I used sniping programs all the time. They weren't just effective for getting a low price - they allowed me to set a price I was willing to pay outside the emotion of the bidding process. If I sniped and didn't win, then it was clear that the item sold for my that I had decided it was worth objectively.

When I used to do timeshare rentals on eBay, it was also clear that many of my winning bidders were also sniping. I always did no limit, no reserve auctions, with a trivial minimum bid. And in my listing I made clear that the deal would be completed at whatever the final bid price was, provided the bidder met my minimum credibility thresholds and agreed to the terms and conditions included in the listing. I learned that the bidding level one hour before close was a poor indicator of the final price.

***********

I recall a time when another person and I listed almost identical rentals at the Club Regina Puerto Vallarta. The other person set a minimum bid price that was close to what I expected the unit to list for. That person also copied and pasted most of my listing, so the auction details were almost identical except for some of the bidding details Our listing closed within two days of each other.

The person posted a question in my listing, asking if I was actually willing to rent the unit for what I had listed as the opening price as a no-reserve auction. I replied of course.

When the dust cleared I had rented my unit, at a price about 20% greater than what the other person had set as a reserve. The other person's unit didn't have receive a single bid over the reserve they had established.

 

[letsgobobby]

We've rented at Lagoon many times but have to be quite flexible on dates and unit type. Further we've only once paid MF or less for the rental, excluding sales packages, which we're now tired of attending. We've paid as much as $3500 for a week when we couldn't be as flexible. We go to Lagoon every year and will do that indefinitely. So for us buying at Lagoon makes sense. If you otherwise are flexible about where you go and when, buying probably doesn't make sense.

 

[jabberwocky]

9600 can be a lot of HGVC points as an “add-on” to the portfolio. Do you need a 2 BR or do you usually stretch your points by trading into 1BR/studios? If you are just using in off years, maybe an EOY or a 1BR with a good MF/points ratio.

I agree with the others that you are probably better off renting given the success you’ve had trading in with existing units. You’ve definitely learned how to make the most of the systems. Congrats!

 

[CalGalTraveler]

@Papa2015 Congrats. It sounds like you are super traders. What is the MF on your Massanutten unit that you are trading? I see about $900 on Redweek which is not much different than HGVC Vegas units.

RCI is mostly limited to weeks stays. Buying HGVC will make it much easier to trade for short stays and you would have much greater access to studios and 1bdrms units which could extend the value of your points. Given you are retired and like to maximize your points, weekdays (Mon - Thurs stays) are a great option with lower points requirements. You can use credit card anniversary nights or HHonors points to extend your stay to the weekend. Plus via RCI, you now charged HGVC resort fees which, in addition to your exchange fee can add as much as $500 - $600 to your RCI trade over HGVC in-system trades.

Suggest that you add up the cost of your MF at Massanutten + Resort Fees $250 + RCI exchange fee $250 compared ( $1400 total) with the MF at an HGVC ($1000 in Vegas for 5 - 7k points) and the cost per week using lower points weekday values and short stays, smaller units to stretch your points. Depending on the math, it might make more sense to sell the Massanutten and get an HGVC resale. The math will give you the best course of action. There are some great HGVC deals out there which don't cost thousands if you look at the 5000 point range in Vegas.

If you find a Vegas unit for $1000 then it would take only 3 - 5 years to breakeven on the purchase cost, if you gave away the Massanutten unit. $1400 (Mass ($900 per redweek) + Resort Fee + RCI - $1100 MF) per week.

(BTW...65 is the new 45 so I don't buy the argument that you are too old as long as you enjoy the TS and have the health and financial means to travel and make MF payments.)

 

[CPNY]

@Papa2015 Congrats. It sounds like you are super traders. What is the MF on your Massanutten unit that you are trading? I see about $900 on Redweek which is not much different than HGVC Vegas units.

It’s around 900 for a 4 bedroom. Split into 2 bedroom units, it’s around 450 for same size unit with HGVC