They can't crash much farther

[isisdave]

I've been watching eBay auctions for Marriott's Grand Chateau in Las Vegas.

On October 25, a 1br EOY sold for $1888.
On November 5, a 1br annual week 52 went for $5101.
On November 20, a 3br annual, first use 2010, sold at $12,800.

And today ....
today... I can't bear this, there must be some mistake ...

a 1br annual for $1800.

I own at NCV and just can't bear to look at those prices, although fortunately I'm not trying to sell.

Wow.

 

[Big Matt]

I'm not sure why people are so surprised by the price drops.

A timeshare is nothing more than prepaid vacation. Sure, you own part of a building, but the reality is that you paid to be able to stay there.

When people don't have the ability to take vacations due to the economy or other situations, it makes not sense to keep paying the maintenance fees unless you can rent the unit for more. For a lot of people this is a hassle also.

Anyone that paid for a timeshare upfront has already spent/lost that money, but the maintenance fees keep coming. Selling at any price avoids paying that annual fee.

I also have no intention of selling anything, so for me, I'll keep enjoying my annual timeshare stays, albeit a little closer to home to avoid airfares this year.

 

[Cathyb]

Shocked and saddened that our economy is diving so

 

[sernow]

The collapse of growth that depended on consumers borrowing to spend beyond their means and speculators leveraged greater than 40 to 1 is hardly shocking.

 

[e.bram]

Look at the Manahttan Club resale prices on Ebay for instance. In the tank.