Looks like a resale market price may soon be forming on DC points.

[thinze3]

Here's the eBay auction.

http://www.ebay.com/itm/260963216366

 

[billymach4]

This is not the first time we have seen Ebay auctions for DC Points. We just don't know the final outcome?

 

[slum808]

$3156 for 1000 pts, is highet than I would expect considering the $2095 transfer fee.

 

[puckmanfl]

good morning....

There has not been an official answer to the $64,000 question....

What are the restrictions to the new owner with resale DC points....

It is my understanding that these points can only be used to make reservations 60 days from check in. I do not know if this is limites to exchange inventory or to Trust inventory as well...

I have asked some Marriott reps and even they don't know... I was told that if you have to worry about resale, this isn't the product for you....

 

[dioxide45]

The transfer fee never add up. We know there is a minimum $2000 initiation fee. Looks like Marriott may only be charging $95 to waive ROFR on points, even though they have it written that they CAN charge up to $1 per point. No mention of the buyers education fee. Perhaps that is charged directly to the buyer after the sale is complete and points are in their name?

 

[thinze3]

Puck, I think this has been answered - somewhat. This is a notice that was sent out to supervisors to help them answer our questions. They sent me a copy of it.

If an owner who has purchased points (beneficial Interests) wishes to sell their points they will need the following information:

We will need to send an owner requesting transfer of ownership of Beneficial interests a Transfer packet.

Advise them that the transfer fee will be $25 per B.I., but there will be no additional transfer fees charged by MVCI.

If the owner needs a contact to assist with the deep prep and transfer we can refer them to contact Cammy Smith at FATCO(First American Title Company)

The New owner will have to pay an education ($300 per owner) and initiation fee ($200 per BI with a $2000 minimum). And then they would have full access to the program.

What is "full access to the program?" A Points owner with no additional restrictions that can book from both buckets is what full access to the program means.
What would happen if they didn't pay the fees? If the education fee is not paid, we would not be able to process the transfer. If the initiation fee is not paid, according to the use rules they can still be transferred but they would not have access to the Exchange Bucket of inventory. Because we can't support this currently in the system, the initiation fee would be required at the time of transfer FOR NOW (We'll let you know when that changes).
Do we know who and how they will be notifying the owners of these fees? When they call to process the external transfer, owner mods Lakeland will advise and collect the fees
Will those apply to BIs that are transferred as a Gift (parent to child or grand Child) or weeks that are transferred due to inheritance? It would not be considered an external transfer (unless the deed was an external transfer to begin with)
What about owners that already own BIs and are purchasing more on the external market? If they are titling the exact same way, they would not be charged and education fee, if they title differently, they would owe the education fee. If they only have enrolled weeks and then purchase BI's on the external market, they would have to pay the education fee. Both types of owners would still owe the initiation fee which is "external first time BI owner to pay $200.00 per BI and a $2,000.00 minimum Initiation Fee is required."
Which Fees apply to them? The education fee is a 1 time fee that would need to be paid $300. The initiation fee is $200 per BI with a $2000 minimum.

****** ******
Owner Relations Supervisor
Marriott Vacation Club Owner Services
Salt Lake City, UT 84115
Internal Ext. ******
Fax- (801) 468-****

 

[puckmanfl]

good morning....

If I understand this correctly....Once the education fee and the BI transfer fee is paid..the new owner is in the clear and is a regular TRUST owner with full access!!!!

This is good!!!!

The 60 day thing seemed truly Draconian and harsh!!!!

 

[RBERR1]

Puck,

I agree (and I hope you are right) but I guess we do not know until we hear from someone who actually have bought resale and then booked them to see whether the 60 day rule is legal language that is being ignored in practice or a real limitation.

Rich

 

[cruisin]

I Was told 6 days ago at Marriott canyon villas by the rep and her supervisor that resell DC points can never book trust inventory, not even legacy weeks turned in for points, only can be used in II exchanges. I agree , until someone bites the bullet we may never know.

 

[SpikeMauler]

Is the "transfer fee" and "initiation fee" the same fee?

 

[capjak]

I was watching this item and was not prepared to go that high, $3000 plus $2000 transfer fee I think is a little high but still better than from the developer

 

[thinze3]

I was watching this item and was not prepared to go that high, $3000 plus $2000 transfer fee I think is a little high but still better than from the developer

This same seller tried twice before to sell these points with no luck.

 

[SueDonJ]

This is the same eBay seller of the other DC Points auctions that we watched, and the seller doesn't have a good reputation for knowing what's what. Here's a post with a couple links to related threads.

Interesting, Terry, what your contact says here:

What is "full access to the program?" A Points owner with no additional restrictions that can book from both buckets is what full access to the program means.
What would happen if they didn't pay the fees? If the education fee is not paid, we would not be able to process the transfer. If the initiation fee is not paid, according to the use rules they can still be transferred but they would not have access to the Exchange Bucket of inventory. Because we can't support this currently in the system, the initiation fee would be required at the time of transfer FOR NOW (We'll let you know when that changes).

So the reason they can't enforce the "no access to Exchange Bucket" stipulation from the docs is because the system doesn't support a purchase without the Initiation fee "FOR NOW?" Doesn't this mean that in the future if the system will support it, then it will be possible for DC Trust Points resales to not have access to both buckets?

 

[Docklander]

Just to clarify....

I just want to check something.

Based on this:

"If an owner who has purchased points (beneficial Interests) wishes to sell their points they will need the following information:

We will need to send an owner requesting transfer of ownership of Beneficial interests a Transfer packet.

Advise them that the transfer fee will be $25 per B.I., but there will be no additional transfer fees charged by MVCI.

If the owner needs a contact to assist with the deep prep and transfer we can refer them to contact Cammy Smith at FATCO (First American Title Company)


The New owner will have to pay an education ($300 per owner) and initiation fee ($200 per BI with a $2000 minimum). And then they would have full access to the program."

In the opening line they call DC points "beneficial interests" - that's plural. Then they go on to say that the transfer fee is $25 per beneficial interest - singular. So, are they saying that each point comes with a $25 transfer fee??? That can't be right but that's how it could be read.

Apologies if this is in the wrong thread, I checked some of the other DC threads and couldn't find this wording...I may have missed it.

 

[pipet]

Each beneficial interest is 250pts, so in this specfic case, the 2k min fee would apply. That really kills small point resales!

 

[Docklander]

Each beneficial interest is 250pts, so in this specfic case, the 2k min fee would apply. That really kills small point resales!

Ahhh...Thank you. Yep, that definitely kills small point resales :-(