MVCI points purchase via the secondary market

[sandcfort]

Hello,
I am currently an "owner" level of MVCI and looking at purchasing points to move to the next level "select". How does the secondary market work? If I purchase on the secondary market will the points be added to my existing point total to achieve the next level and receive the perks of that level (13 month reservation window). Will the points anniversary date convert to my anniversary date or remain with the original purchasers anniversary date? Will the MVCI website/customer service recognize the additional points under my account?

Thanks

 

[gblotter]

While attending a sales presentation this week, I was told that points purchased on the secondary market do not apply to status level. This was a salesman speaking, so of course you should check such facts independently.

 

[arizzuto]

Generally all developers only recognize points bought directly from sales personnel in their organization. I am a owner in club Wyndham and bought points through TUG. Those points are usable within Wyndham but do not count toward status.

 

[Fasttr]

There have been several TUGgers who have purchased MVC DC points via the secondary market and all of them have reported that the resale purchased points DO INDEED count toward ownership status, as long as you pay MVC the junk fees (see Points FAQ sticky for details, but they basically equate to $2 a point) to open the points up for full access in the system.

As for your Use Year question, it is my understanding the Use Year of the resale purchased points would remain as they were based on prior owners Use Year.

 

[GregT]

I believe Steven Ting just purchased points resale to achieve the next level of status. You want to PM him to confirm no surprises.

Good luck!

Best,

Greg

 

[JIMinNC]

I would question whether it is worth it to buy points just to move up from "Owner" to "Select". The only significant difference that I am aware of between "Owner" and "Select" is that Select level can make 7-night reservations 13-months out without paying the 20% point premium. So you can already make a reservation 13-months out now as an "Owner", you just have to use 20% more points. When I've looked at the numbers, it makes more financial sense just to rent enough points to cover the 20% upcharge and save the upfront cost of more points. Let's say you have a reservation that normally requires 3500 points, but as an "Owner" it would cost you 4200 points to book prior to 12-months out. Those extra 700 points could be rented for $0.55 to $.60 per point, so the cost to cover the premium would be $385 to $420 each time you had to do that. And you would have to pay about the same amount in maintenance fees on your added resale points, so it really makes more sense just to rent the points you need to cover the 20% premium instead of forking out thousands of dollars for resale points.

Unlike when you move up to Executive level and get some real, improved booking rights such as shorter stays, luxury properties, etc, moving up to Select has very little tangible benefit.

 

[StevenTing]

My points have closed but they haven’t shown up in my account yet. It might be another couple weeks before I can provide confirmation.

 

[rthib]

If you already have enrolled weeks (but no points otherwise) which of the "junk" fees do you have to pay?
I am 6000+ with weeks, and have some spare $ so was thinking of maybe buy 1000 to get to Executive.

 

[JIMinNC]

If you already have enrolled weeks (but no points otherwise) which of the "junk" fees do you have to pay?
I am 6000+ with weeks, and have some spare $ so was thinking of maybe buy 1000 to get to Executive.

You will have to pay the $2 per point fees to fully activate any resale points. So, whatever resale price you can get that will pass ROFR plus $2 per point. That will probably mean 1000 Points would cost $6000 to $7000 plus closing costs. In my opinion, the benefits of Executive would be well worth such a small upgrade cost.

 

[rthib]

You will have to pay the $2 per point fees to fully activate any resale points. So, whatever resale price you can get that will pass ROFR plus $2 per point. That will probably mean 1000 Points would cost $6000 to $7000 plus closing costs. In my opinion, the benefits of Executive would be well worth such a small upgrade cost.

Other question is where best source to find resale points?

 

[JIMinNC]

Other question is where best source to find resale points?

I've yet to buy resale points myself, but most every broker that sells resale weeks also sells resale points. Here are just a few:

https://advantagevacation.com
http://judikoz.com/
http://www.sellingtimeshares.net
https://www.timesharebrokersales.com
https://magicalrealty.com
https://www.redweek.com

 

[taterhed]

I would definitely PM @StevenTing to discuss it if you're really interested. I think he may have a few 'tips' to assist you.

 

[GregT]

If you already have enrolled weeks (but no points otherwise) which of the "junk" fees do you have to pay?
I am 6000+ with weeks, and have some spare $ so was thinking of maybe buy 1000 to get to Executive.

Jim is correct about the $2/point junk fee, however there is a minimum fee of $3,000 so factor that into the number of points you buy - 1,500 may be the right level depending on price. Good luck!

Best,

Greg

 

[JIMinNC]

Jim is correct about the $2/point junk fee, however there is a minimum fee of $3,000 so factor that into the number of points you buy - 1,500 may be the right level depending on price. Good luck!

Best,

Greg

Greg, thanks for bringing up the $3000 minimum. I always seem to forget to factor that in for some reason. I guess it’s because any points buy we would ever decide to do would have to be well over the minimum to be useful, so whenever I’m running our numbers, the minimum is irrelevant. Then when a question about a sub-1500 point purchase comes up, I forget to factor in the $3000 minimum.

Based on that, my $6000 to $7000 cost I quoted above for a 1000 point purchase is probably low. Probably would cost $7000 to $8000 unless the OP was able to slip something by ROFR at a very low price like you and Steven were able to do. IMHO that’s still an attractive cost for moving up to Executive. Wish we could do it that cheaply...

 

[taxare]

Hello,
I am currently an "owner" level of MVCI and looking at purchasing points to move to the next level "select". How does the secondary market work? If I purchase on the secondary market will the points be added to my existing point total to achieve the next level and receive the perks of that level (13 month reservation window). Will the points anniversary date convert to my anniversary date or remain with the original purchasers anniversary date? Will the MVCI website/customer service recognize the additional points under my account?

Thanks

Its been a couple of years for me, so Steven would have the most current information. My secondary point purchase has been treated in all aspects as being purchased directly from Marriott. I obtained the higher status and they show up in my account like the others. As indicated above, they retained their original use year, so it makes for a little more work. I did pay the junk fees but not the "education fee". I used David Cortese at Magical Realty and he was professional, informative, and got the job done.

 

[VacationForever]

Its been a couple of years for me, so Steven would have the most current information. My secondary point purchase has been treated in all aspects as being purchased directly from Marriott. I obtained the higher status and they show up in my account like the others. As indicated above, they retained their original use year, so it makes for a little more work. I did pay the junk fees but not the "education fee". I used David Cortese at Magical Realty and he was professional, informative, and got the job done.

Was the "Education Fee" waived because you already owned DC points or did you only have enrolled weeks and that counted too?

 

[GregT]

My "Education Fee" was not waived even though I was already enrolled.

Best,

Greg

 

[taxare]

Was the "Education Fee" waived because you already owned DC points or did you only have enrolled weeks and that counted too?

I had already owned DC points.

 

[kds4]

There have been several TUGgers who have purchased MVC DC points via the secondary market and all of them have reported that the resale purchased points DO INDEED count toward ownership status, as long as you pay MVC the junk fees (see Points FAQ sticky for details, but they basically equate to $2 a point) to open the points up for full access in the system.

As for your Use Year question, it is my understanding the Use Year of the resale purchased points would remain as they were based on prior owners Use Year.

Our resale points counted toward our ownership level. Use year remains the use year of the previous owner. This is something to check on when considering buying a particular batch of points. I would ask the seller/broker, "What is the use year of the points", to ensure you are getting the window/anniversary dates you want.

 

[kds4]

Its been a couple of years for me, so Steven would have the most current information. My secondary point purchase has been treated in all aspects as being purchased directly from Marriott. I obtained the higher status and they show up in my account like the others. As indicated above, they retained their original use year, so it makes for a little more work. I did pay the junk fees but not the "education fee". I used David Cortese at Magical Realty and he was professional, informative, and got the job done.

Agreed. We worked with David Cortese at Magical Realty as well. Highly recommend.

 

[kds4]

Was the "Education Fee" waived because you already owned DC points or did you only have enrolled weeks and that counted too?

The education fee is only waived if you already own 'pure points' (meaning not an enrolled week, but points you actually purchased).

 

[kds4]

If you already have enrolled weeks (but no points otherwise) which of the "junk" fees do you have to pay?
I am 6000+ with weeks, and have some spare $ so was thinking of maybe buy 1000 to get to Executive.

If you buy from Marriott direct, you will pay full retail price for 1,000 points. If you buy resale points, you will have to pay all of the junk fees if this is your first purchase of pure points.

 

[kds4]

Jim is correct about the $2/point junk fee, however there is a minimum fee of $3,000 so factor that into the number of points you buy - 1,500 may be the right level depending on price. Good luck!

Best,

Greg

Agreed. 1,500 points is the minimum to 'break even' on the $3,000 minimum junk fee.

 

[kds4]

Greg, thanks for bringing up the $3000 minimum. I always seem to forget to factor that in for some reason. I guess it’s because any points buy we would ever decide to do would have to be well over the minimum to be useful, so whenever I’m running our numbers, the minimum is irrelevant. Then when a question about a sub-1500 point purchase comes up, I forget to factor in the $3000 minimum.

Based on that, my $6000 to $7000 cost I quoted above for a 1000 point purchase is probably low. Probably would cost $7000 to $8000 unless the OP was able to slip something by ROFR at a very low price like you and Steven were able to do. IMHO that’s still an attractive cost for moving up to Executive. Wish we could do it that cheaply...

To buy just 1,000 points resale, I would say $8k 'all-in' is a reasonable estimate.

 

[Shelley]

MVC points bought directly from an owner, secondary market, ie. resale, will count toward the next level - they are identical to the points bought from Marriott. $8k 'all in' is on the high side for 1000 MVC points.