Looking for advice on sale pricing - Hilton Club New York

[CSamuel]

Hi everyone,

Hope this is an allowable post. My parents own an HGVC timeshare at the Hilton Club New York. The total annual fees are $1,971.00 USD ($336 of which are club dues). It receives 8000 HGVC points annually (5000 before the conversion). They purchased for around $42k USD, but I obviously know that we're not going to get anything even close to that in return. They have enjoyed the HGVC system, but are looking to sell since they are traveling less now that they are getting older. I am looking to get some advice on pricing the property for sale - I have contacted some resale companies and have heard a wide range of opinions regarding an appropriate price point. After reading the material on this website, I have been convinced that I should avoid engaging a resale company and instead try to sell on my own through this website or something like RedWeek.

I believe there are some perks to the Club Points vs standard HGVC points (better exchange HH rate, no guest certificate fees, better access to the New York bookings), but in most respects, the points behave as ordinary HGVC points.

Would love to hear some feedback on where to list and what pricing you think would be appropriate. Thanks in advance.

 

[yodaDaenerys]

Hi everyone,

Hope this is an allowable post. My parents own an HGVC timeshare at the Hilton Club New York. The total annual fees are $1,971.00 USD ($336 of which are club dues). It receives 8000 HGVC points annually (5000 before the conversion). They purchased for around $42k USD, but I obviously know that we're not going to get anything even close to that in return. They have enjoyed the HGVC system, but are looking to sell since they are traveling less now that they are getting older. I am looking to get some advice on pricing the property for sale - I have contacted some resale companies and have heard a wide range of opinions regarding an appropriate price point. After reading the material on this website, I have been convinced that I should avoid engaging a resale company and instead try to sell on my own through this website or something like RedWeek.

I believe there are some perks to the Club Points vs standard HGVC points (better exchange HH rate, no guest certificate fees, better access to the New York bookings), but in most respects, the points behave as ordinary HGVC points.

Would love to hear some feedback on where to list and what pricing you think would be appropriate. Thanks in advance.

Someone here said the resale value depends on the level of the week they own, since this impacts the MF$/pt. The maintenance fees (MF) in NYC are relatively high, compared to other HGVC sites, so I just got out of a deed there for lower MF deed in Florida. Quick math shows your MF dollar per point is about double what I now pay in Orlando. It may be nearly worthless as a resale, I'm afraid, but I'm no expert. I'm pretty knew to this site and have learned quite a bit in just a week or so. Won't you or other family members use it if you keep it?

 

[CalGalTraveler]

Look on Ebay for sold listings. Those are the lower bound of pricing. Look on Redweek for listings that have sold or are lower priced and new. Older listings are stale, haven't sold so give you an upper bound.

 

[5finny]

I think this would be tough to price
Highest and best use is to use
That limits your market to people who want to frequently travel to NYC
But for those people this should have real value
I understand this started out as a RTU timeshare and was then converted to a regular fee ownership
Has this been converted or is it a RTU?
Start with the basics
***Don't pay anyone upfront money to sell your timeshare***
Here is a tug thread listing at least 3 reliable brokers

How to sell my HGVC timeshare?

we own a deeded timeshare at the Bay Club in HawaiI which is part of HGVC. We purchased on the secondary market for $12,000 about 6-7 years ago. We have 13,440 points available in 2023. Our maintenance dues are approx $1,900/year. We would like to sell but have no idea how to do that or what...

tugbbs.com

I would make inquiries and get opinions from all three
I am guessing it might take a good bit of time to get this sold at a fair price
A quick sale might be had but only with a very heavy discount
Have a plan in place to use the timeshare while you try to sell it
Your plan could include occupancy , rental (if allowed) or point conversion
Good Luck

 

[CSamuel]

I think this would be tough to price
Highest and best use is to use
That limits your market to people who want to frequently travel to NYC
But for those people this should have real value
I understand this started out as a RTU timeshare and was then converted to a regular fee ownership
Has this been converted or is it a RTU?
Start with the basics
***Don't pay anyone upfront money to sell your timeshare***
Here is a tug thread listing at least 3 reliable brokers

How to sell my HGVC timeshare?

we own a deeded timeshare at the Bay Club in HawaiI which is part of HGVC. We purchased on the secondary market for $12,000 about 6-7 years ago. We have 13,440 points available in 2023. Our maintenance dues are approx $1,900/year. We would like to sell but have no idea how to do that or what...

tugbbs.com

I would make inquiries and get opinions from all three
I am guessing it might take a good bit of time to get this sold at a fair price
A quick sale might be had but only with a very heavy discount
Have a plan in place to use the timeshare while you try to sell it
Your plan could include occupancy , rental (if allowed) or point conversion
Good Luck

Thanks to everyone who has replied. My parents purchased the timeshare in 2015, so I don't believe that it was ever an RTU - I think it's always been deeded (if I understand correctly that those two terms are mutually exclusive).
I've got a posting in the TUG marketplace (for sale) and on Redweek (for rental), so we will see what (if anything) comes of it.
As a follow-up question, I am wondering what the practice is when listing Maintenance Fees. Are maintenance fees listed inclusive of taxes / club dues / etc? Or is it more typical to list only the "Maintenance Fee" amount? Thanks again.

 

[5finny]

My opinion
List maintenance fees including everything and then in the body of the ad break it down
I have also see people do exactly the opposite and that does not bother me-as long as they are listed elsewhere in the ad
I also have seen people leave those items out entirely
When I see that it raises a question in my mind and it makes me wonder if the seller is a person I really want to deal with
Good Luck

 

[GT75]

Thanks to everyone who has replied. My parents purchased the timeshare in 2015, so I don't believe that it was ever an RTU - I think it's always been deeded (if I understand correctly that those two terms are mutually exclusive).

I thought that HGVC was trying to buy these back (but that was off my memory for a while back). @mrharris03 @ccwu @KathyA , do you have any additional advice for the OP?

 

[ljmiii]

My parents purchased the timeshare in 2015, so I don't believe that it was ever an RTU - I think it's always been deeded (if I understand correctly that those two terms are mutually exclusive).

I can't speak to HCNY specifically, but deeded weeks that are RTU are common overseas but exist in the US as well. Marriott Vacation Club has a number of resorts that are deeded weeks w/RTU and even Disney Vacation Club (which is all RTU) has a few deeded weeks out there.

 

[mrharris03]

I thought that HGVC was trying to buy these back (but that was off my memory for a while back). @mrharris03 @ccwu @KathyA , do you have any additional advice for the OP?

My recollection is that there was an attempt by Hilton to buyback RTUs in HCNY when Hilton reorganized it to be deeded UDIs. I can’t recall offhand when that transition occurred, however. OP should be able to check NYC’s ACRIS to find the deed to definitively establish ownership type. I don’t have a good feel for where pricing stands right now, but I do recall seeing some fairly cheap Timeshare MLS listings for HCNY, but they may be the larger contracts (10k+ old points).

 

[yodaDaenerys]

My recollection is that there was an attempt by Hilton to buyback RTUs in HCNY when Hilton reorganized it to be deeded UDIs. I can’t recall offhand when that transition occurred, however. OP should be able to check NYC’s ACRIS to find the deed to definitively establish ownership type. I don’t have a good feel for where pricing stands right now, but I do recall seeing some fairly cheap Timeshare MLS listings for HCNY, but they may be the larger contracts (10k+ old points).

What do RTU and UDI stand for?

 

[SmithOp]

The Hilton Club New York Valuation | RedWeek

Want to know what timeshares at The Hilton Club New York are selling for? See current and historical prices on RedWeek.com

www.redweek.com

 

[SmithOp]

What do RTU and UDI stand for?

Right To Use

Unlimited Divided Interest.

 

[CSamuel]

The Hilton Club New York Valuation | RedWeek

Want to know what timeshares at The Hilton Club New York are selling for? See current and historical prices on RedWeek.com

www.redweek.com

I looked at RedWeek before turning to this forum - unless I'm missing something, there are no active or historical data points?