Prices for Grande Ocean

[Potential Buyer Scott]

Does anyone know what prices are doing at MGO?

I see prices falling for other locations but haven't seen any info on MGO.

I wouldn't mind picking up another unit if they get really cheap, but I'm guessing that the oceanfront location and ability to drive to it makes the prices more stable than many of the other locations.

 

[Travelmom64]

Try Ebay

Does anyone know what prices are doing at MGO?

I see prices falling for other locations but haven't seen any info on MGO.

I wouldn't mind picking up another unit if they get really cheap, but I'm guessing that the oceanfront location and ability to drive to it makes the prices more stable than many of the other locations.

There are a few on Ebay right now, which is where I purchased mine when the economy started on its decline. I had planned to purchase another week myself, but with this ownership transfer such a nightmare, I am holding off.
Lisa

 

[Potential Buyer Scott]

There are a few on Ebay right now, which is where I purchased mine when the economy started on its decline. I had planned to purchase another week myself, but with this ownership transfer such a nightmare, I am holding off.
Lisa

Did anyone see what MGO went for? I checked ebay earlier and there was one rental but no platinum weeks for sale.

PBS

 

[Potential Buyer Scott]

I still haven't seen any Grande Ocean Platinum units sold for a while. Anyone else seen any recent sales prices?

PBS

 

[FlyerBobcat]

I still haven't seen any Grande Ocean Platinum units sold for a while. Anyone else seen any recent sales prices?

PBS

Nothing MGO Platinum on ebay in the last month or so....

Only one gold MGO unit on ebay in that same time period.

There have been several Silver and Bronze weeks listed.

Seems that MGO Platinum weeks are hard to come by -- compared to a lot other resorts/seasons. Do others agree? Even gold is not too common. Comments?

 

[wuv pooh]

Seems that MGO Platinum weeks are hard to come by -- compared to a lot other resorts/seasons. Do others agree? Even gold is not too common. Comments?

Last time I was at Grande Ocean they had an active resale office and a backlog of demand for weeks. At the resale meeting they were asking for platinum weeks to resell with a net of ~ 60% of the current selling price no questions asked. When I looked for resales they were all above that floor and there would be no reason to use Ebay.

Don't know how the market has changed or if Marriott still has a waiting list of people who want to purchase platinum weeks, especially oceanfront.

 

[MOXJO7282]

From time to time, I've seen GO gold OS units on ebay which have gone for between $9750 and $10750 or so. Very few OF units. I snagged an OF gold off of ebay in 2006 for $13800.

Regards.
Joe

 

[sernow]

Joe,

Was rofr actively persued by Marriott when you purchased this in 2006?

 

[MOXJO7282]

Joe,

Was rofr actively persued by Marriott when you purchased this in 2006?

I don't think Marriott was ever as active with gold weeks, as they were with plat weeks. I know some have lost gold weeks to Marriott ROFR, but in the past that is where you saw some great deals because that wasn't their focus.

Regards
Joe

 

[HenryT]

Marriott Took My Grand Ocean Silver Weeks

This past summer Marriott took 3 Silver weeks I tried to purchase. The price on the first one was $4500, the second one was $6000, and the last one was $6500. I declined to bid higher.

Last month I won a Silver week on Ebay for $3000, which in this market I may have paid too much for. Still waiting to hear if it passes ROFR.

Henry

 

[aka Julie]

Not that anyone really wants a Bronze week anymore, but there is a Bronze Grande Ocean week on Ebay now for $197 Buy It Now!

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=250337258850&ssPageName=ADME:B:SS:US:1123

The only use for a Bronze week is if you can make use of Flexchange with II. But if Marriott transitions to a points based system, Bronze weeks will be pretty worthless points-wise.

 

[Potential Buyer Scott]

Cheap platinum Grande ocean week

I see that Gold Marriott Grande ocean week went for $10,500. I bought a platinum ocean side week for $21,750 about 2 years ago and a platinum ocean front for $28,500. I am surprised that these prices don' t seem to have fallen too much so far in compared to the other timeshare prices I have seen.

PBS

 

[pfrass]

I bought a platinum ocean side week for $21,750 about 2 years ago
PBS

Checking out Redweek, 3 of the 20 resales listed are Platinum, all Ocean View, not Ocean Front. The asking prices are $22,500, $23,900 and $25,500. Gold is $14K and silver single-digit thousands. Bronze practically free.

I have watched the prices for the last several years and $21K is historically a very good buy for a platinum week, but obviously this year may be different.

 

[MOXJO7282]

Here's one that didn't meet reserve at $8877.


http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MEDWX:IT&item=330291413299

 

[ilene13]

I do not know what is happening at the Grande Ocean now but I'l tell you what we did. We were founding owners and purchased ocean view platinum for about 12, 000. We sold it in 2004 when I changed jobs and could only go away for 1 wk in the summer. I still owned at Barony. I got $26000 for it. When surfwatch was built my salesman called me as he knew I did not like Barony. Marriott bought it back from me for what I paid and I upgraded to a 3 bedroom, 3 bath. I have been happy with the deal!! Remember the economy is awful. I just hope Marriott does not do to the HH resorts what they are doing in Aruba!

 

[Potential Buyer Scott]

I am waiting for Grande Ocean Platinum weeks to go for $10,000 so I can buy some more for my family. So far, this seems to be about the only timeshare in America not selling at a ridiculous price. I thought going over $1,000 on the maintenance fee this year would put enough owners over the edge to push down the price. I guess I'll have to wait a few more months.

PBS

 

[aka Julie]

I am waiting for Grande Ocean Platinum weeks to go for $10,000 so I can buy some more for my family. So far, this seems to be about the only timeshare in America not selling at a ridiculous price. I thought going over $1,000 on the maintenance fee this year would put enough owners over the edge to push down the price. I guess I'll have to wait a few more months.

PBS

I know what you mean. Platinums for sale at Grande Ocean, Barony and SurfWatch are not as common and seem to hold their value better than most. I think at $10,000 Marriott would exercise ROFR. They can sell the platinums fairly easy. HHI is driving distance for most folks in Eastern U.S. which makes it highly desirable.

 

[Dave M]

I think at $10,000 Marriott would exercise ROFR. They can sell the platinums fairly easy.

Although I agree with you in theory, it appears that Marriott has completely stopped exercising ROFR. There have been some ridiculously low sales prices reported here on some wonderful Platinum weeks where Marriott has not exercised ROFR.

Based on Marriott's recent press releases, the economy has hit Marriott very hard and its timeshare division has made major changes, including laying off employees, discontinuing the loan incentive program for purchases and taking the practically unheard of (for Marriott) step of offering some timeshares at discounted prices. Thus, I believe that when Marriott will start exercising ROFR again is probably related more to the economy than the low prices of premium timeshares.

 

[FlyerBobcat]

Although I agree with you in theory, it appears that Marriott has completely stopped exercising ROFR....

Just as a single data point from Seth Nock, he has reported one Marriott buy-back recently...

Seth's original post and the follow-up by him.

 

[m61376]

Just as a single data point from Seth Nock, he has reported one Marriott buy-back recently...

Seth's original post and the follow-up by him.

And he has told me that he is aware of a few others all bought back recently. Admittedly, this was in response to trying to negotiate a price down based on recent Ebay sales, but assuming he is telling it like it is, they may be exercising ROFR in a few cases, although given the recent purchases by some Tuggers here, it sure doesn't seem that way.

I think as soon as the credit market opens a little, like Dave suggested, we will again see ROFR and those great buys will not be available for public consumption (not that they won't exist, just the Marriott will benefit).

 

[sernow]

Whether we think it's a great buy or not, Marriott won't buy unless they need the inventory and they're able to resell it quickly with the profit margin they need.

 

[thinze3]

Whether we think it's a great buy or not, Marriott won't buy unless they need the inventory and they're able to resell it quickly with the profit margin they need.

I agree. I believe this is the only time Marriott will exercise ROFR - if they have a buyer standing by.

Terry

 

[thinze3]

I know what you mean. Platinums for sale at Grande Ocean, Barony and SurfWatch are not as common and seem to hold their value better than most. I think at $10,000 Marriott would exercise ROFR. They can sell the platinums fairly easy. HHI is driving distance for most folks in Eastern U.S. which makes it highly desirable.

Hilton Head is a drive-to area that will probably fair much better during this downturn than fly-to areas like HI and Aruba IMO. This Summit Watch in Park City just sold for well over $17K, more than many 2BR Marriott Hawaii units now sell for.

Terry