Manor club resale prices down

[gmarine]

Two MMC units just sold seperately on EBAY for $6000 each, plus closing costs. I havent seen a unit sell for that low in a couple years.

 

[DJensen]

what season was this for? seems too good to be true for platinum? love to be the buyer, hate to be the seller if it is platinum.

 

[rsackett]

They were Platinum. I think all prices are down, not just Manor Club.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MEWAX:IT&item=180295493484

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MEWAX:IT&item=180295492463

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MEWAX:IT&item=310088449361


Ray

 

[vacationlover2]

That doesn't mean they will pass ROFR. If and when they do, then I'll be surprised at the low price too.

 

[capjak]

Bankrupt

The two from BKassets (bankrupt sales) state that Marriott will not be excercising ROFR.

 

[gmarine]

what season was this for? seems too good to be true for platinum? love to be the buyer, hate to be the seller if it is platinum.

They were both platinum. I would have bought but I think that this is only the beginning of the drop in timeshare prices and you will see better prices in a few months. The amount of foreclosures on homes is staggering and timeshares are going to be worse.

 

[JimIg23]

The two from BKassets (bankrupt sales) state that Marriott will not be excercising ROFR.

I find that hard to believe that Marriott would waive ROFR before they knew the price it would sell for.......

It is a great price. I hope a Tugger got it so they can tell us if it passes ROFR!

 

[aka Julie]

The two from BKassets (bankrupt sales) state that Marriott will not be excercising ROFR.

Just because they state it in their ad doesn't mean it's true. Lots of mis-information in Ebay ads.

 

[gmarine]

Just because they state it in their ad doesn't mean it's true. Lots of mis-information in Ebay ads.

Very true but I have seen this before in this sellers auctions and the seller has a 440 feedback with 100% rating.

 

[MOXJO7282]

I wouldn't draw too many conclusions from ebay auctions they are always lower than the real value in my opinion. I know I've seen another sell on ebay for $6000 and that was more than a year ago.

Regards.
Joe

 

[rsackett]

Check this out:

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=190256216427&ssPageName=ADME:B:WNA:US:1123

Marriott's Monarch at Sea Pines fixwd week 20 just sold for $2,125!

I think that is a very good price. I would love to have had it, but too much worry about the economy.

Ray

 

[CLIFFTOPS]

The Monarch Was A Great Price.
No Worry With Rofr On That Property.
I Looked Seriously At That Auction But In Reality I Have Found You Can Trade Into Most May Weeks At Monarch With An A/c Or Another Less Expensive Week And Less Expensive Maintenance Fee.
You Do Have The Ii Exchange Fee But Overall Still A Small Savings.

 

[gmarine]

I wouldn't draw too many conclusions from ebay auctions they are always lower than the real value in my opinion. I know I've seen another sell on ebay for $6000 and that was more than a year ago.

Regards.
Joe

The only one near $6000 that I recall in the last two years was around last September/October but usage began in 2007 with the buyer reimbursing the maintenance fees and you would have had to book a fall week which lowers the value of the purchase, IMO.

 

[Jpollo]

Does anyone know the current retail prices for these units? I checked the listings but none of them mentioned what Marriott is currently charging.

Thanks!

Jason

 

[gmarine]

Does anyone know the current retail prices for these units? I checked the listings but none of them mentioned what Marriott is currently charging.

Thanks!

Jason

Current retail is about 20K.

 

[thinze3]

I'll bet a dollar to a doughnut that all three of these Manor Club units pass ROFR (of course two of them have already been "pre-approved"). It is just a sign of the times IMO.


Terry

 

[GregT]

I agree with Thinze - I think these -- and everything --- will pass ROFR this days.

These are good days to be a buyer...bad days to need to be a seller.

I think this will also kill Marriott's "internal exchange system" -- how can they spending money on further R&D for an internal transfer system, when they are trying to save the baby, ie their timeshare sales system.

Interesting times....

 

[KathyPet]

See this is what I don't understand. I own MMC platinum. I talked with Marriott resales a few months back just to see what they were doing on resales for MMC. They told me they were selling them for just over 21,000 and if they sold mine for me I would net $14,500. When I spoke to them they said they had no waiting list of owners who wanted to sell so they would list mine immediately. Now why would someone sell on EBAY for less than half what they would net through Marriott? Splain it to me Lucy!

 

[Big Matt]

They could have a wait of a year or more before Marriott sells it. Ebay equals fairly quick money.

See this is what I don't understand. I own MMC platinum. I talked with Marriott resales a few months back just to see what they were doing on resales for MMC. They told me they were selling them for just over 21,000 and if they sold mine for me I would net $14,500. When I spoke to them they said they had no waiting list of owners who wanted to sell so they would list mine immediately. Now why would someone sell on EBAY for less than half what they would net through Marriott? Splain it to me Lucy!

 

[Big Matt]

Marriott is building an internal exchange system to make money. They want to control the behavior of their owner pool. They will be able to extract more money by offering features to multiple week owners, owners of more valuable properties, etc. This will drive sales.

They aren't doing this for the owners.

I think this will also kill Marriott's "internal exchange system" -- how can they spending money on further R&D for an internal transfer system, when they are trying to save the baby, ie their timeshare sales system.

Interesting times....

 

[dioxide45]

See this is what I don't understand. I own MMC platinum. I talked with Marriott resales a few months back just to see what they were doing on resales for MMC. They told me they were selling them for just over 21,000 and if they sold mine for me I would net $14,500. When I spoke to them they said they had no waiting list of owners who wanted to sell so they would list mine immediately. Now why would someone sell on EBAY for less than half what they would net through Marriott? Splain it to me Lucy!

From reading another thread and post bu icydog. There are currently 3 units on Marriott's list. It may take them some time to resell but probably not very long. You make a good point. Very few people think of contacting Marriott first to see if they can resell their unit for them.

 

[thinze3]

See this is what I don't understand. I own MMC platinum. I talked with Marriott resales a few months back just to see what they were doing on resales for MMC. They told me they were selling them for just over 21,000 and if they sold mine for me I would net $14,500. When I spoke to them they said they had no waiting list of owners who wanted to sell so they would list mine immediately. Now why would someone sell on EBAY for less than half what they would net through Marriott? Splain it to me Lucy!

Because you are a Tug Member and they are not!

 

[MikeM132]

Two MMC units just sold seperately on EBAY for $6000 each, plus closing costs. I havent seen a unit sell for that low in a couple years.

I'm there now. At the welcome breakfast Monday the sales guy said they are raising prices again (every sales presentation I've ever been to made this claim, FWIW). Good luck, Marriott. Can't sell them at the current price so raise the price. That's like raising the tax rate to raise more money---backfires every time.

 

[Big Matt]

I think you are pretty naive when you think that Marriott can't sell at the retail price. They do it all the time. Probably 95-98% of all Marriott owners don't know about TUG, and a ton of them don't even know that there is a resale market out there.

Trust me...I've seen way too many blank stares when I discuss this with folks when I'm on vacation at a Marriott resort. I had one woman tell me that I was lying when I told her about resale. She said it must be a rip off and that Marriott would never allow it. She had recently bought five weeks from Marriott for over $100k.

I'm there now. At the welcome breakfast Monday the sales guy said they are raising prices again (every sales presentation I've ever been to made this claim, FWIW). Good luck, Marriott. Can't sell them at the current price so raise the price. That's like raising the tax rate to raise more money---backfires every time.

 

[BillandSusan]

Just because they state it in their ad doesn't mean it's true. Lots of mis-information in Ebay ads.

Marriott can not exercise the ROFR because it's a bankruptcy sale. Marriott has to abide by bankruptcy laws and can not do anything to hinder the sale of the property.