Trying to get a realistic value for Royal Reef

[jamsys]

Trying to get a realistic value for [my timeshare]

I know I am going to take a bath, but I need to [my timeshare] in Grand Cayman.

I have looked on many of the resale sites, but have not found any in my week range. Can someone give me a estimate on what to list them for?

There is no way I am going to pay the resort their 35% commission (rape) fee...

Its a great place, but time to move on

Thx in advance!


[Even if it wasn't your intention, posting specific "for-sale" info. in the forums violates the TUG no-advertising rules, so I deleted the specifics of your post. Please see the "How to sell my timeshare" article posted at the top of the Buying Selling Renting Board for help with pricing. -DeniseM Moderator]
Paul

 

[Rod in Louisiana]

Everyone has an opinion, so here's mine. If you can pay them a 35% commission to sell or purchase your unit weeks for full price, I believe you should sign immediately. In the world of timeshare resales, a 35% loss is not usually considered to be "taking a bath." If, on the other hand, they're going to sell them at a deep discount and still expect their 35%......well, that's another situation altogether.

Having bought and sold a number of timeshares, I will tell you that the weeks are worth only what someone is willing to pay for them at a given point in time, regardless of the original purchase price.

The good news is that it's a quality, well-maintained property with an excellent reputation. Good luck to you.

 

[jamsys]

I would sell in a second for a 35% commission, but they refuse to tell you what other units have sold for and basically want you to sell at 30 cents on the dollar.... Not a way to gain owner loyalty....

thx!

Paul

Everyone has an opinion, so here's mine. If you can pay them a 35% commission to sell or purchase your unit weeks for full price, I believe you should sign immediately. In the world of timeshare resales, a 35% loss is not usually considered to be "taking a bath." If, on the other hand, they're going to sell them at a deep discount and still expect their 35%......well, that's another situation altogether.

Having bought and sold a number of timeshares, I will tell you that the weeks are worth only what someone is willing to pay for them at a given point in time, regardless of the original purchase price.

The good news is that it's a quality, well-maintained property with an excellent reputation. Good luck to you.

 

[caribbeansun]

Week 52 I purchased a couple years ago for $8,000 on eBay and sold it for $15,000
Week 1 would be worth less say $8,000-$9,000 (probably less)
Week 36 would have minimal value - say $5,000-$6,000

I know I am going to take a bath, but I need to dump my weeks 52,1 and 36 at [resort name removed].

I have looked on many of the resale sites, but have not found any in my week range. Can someone give me a estimate on what to list them for?

There is no way I am going to pay the resort their 35% commission (rape) fee...

Its a great place, but time to move on

Thx in advance!

Paul

 

[Dustijam]

Unit Size

Week 52 I purchased a couple years ago for $8,000 on eBay and sold it for $15,000
Week 1 would be worth less say $8,000-$9,000 (probably less)
Week 36 would have minimal value - say $5,000-$6,000

Are these prices for 1 bedroom units or 2 bedroom units?

Thanks!

 

[gmarine]

I agree that you should jump at the 35% commission if they are going to sell it at full retail. Selling it on your own is likely to net you much less than giving the Reef their 35%.

 

[caribbeansun]

Two bedroom.

You could do better but there's a lot going against you - economy and high mf's are the two obvious ones. You'll see plenty listed for resale at much higher rates - they tend not to sell and just sit on the resale sites.

The rates I quoted are based on what I've bought and sold individual weeks for over the past couple years.

Are these prices for 1 bedroom units or 2 bedroom units?

Thanks!

 

[TomCayman]

Week 52 I purchased a couple years ago for $8,000 on eBay and sold it for $15,000
Week 1 would be worth less say $8,000-$9,000 (probably less)
Week 36 would have minimal value - say $5,000-$6,000

caribbeansun, you and I both remember that, as you offered us those weeks before selling them on... they were exceptionally low prices and it was quite a while ago...and then you did go on and buy a whole condo from us, so there is a difference between value and picking up a rare steal on a website

In 2008 we did sell a number of weeks for owners who were motivated to sell, particularly as for certain times of year (notably peak winter weeks) we have a very limited number of weeks left in developer inventory.

Were they all at full retail value ? No, as we do allow owners to set their own minimum price, and (for floating weeks at least), that sets the bar at what moves first.

Now, does that mean one can pick up a winter floating week for the prices caribbeansun noted...definitely not, at least not from us... though on the odd occasion they do pop up on the web.

 

[caribbeansun]

Tom - comparing what the resort will and can sell for to what an owner can sell for on their own is well - two different worlds.

I don't know this for a fact but if I was going to guess I'd say the resort could sell these weeks for likely double or more what I've listed with the exception of the week 36 which I wouldn't touch for any price myself.

The figures I provided are, in my opinion, what it would take to get the weeks sold in a reasonable time frame by the owner using the resources that exist on the internet to do so.

Since I've been accused of being a shill for Reef management on this forum I am reluctant to suggest using the Reef resale program over DIY - each individual needs to weigh the odds and make their own decision.

If memory serves I've owned and sold 2-week 18's, 1-week 17, 2-week 51's and 1-week 52. I now only own my Castaways unit and gave up on buying and selling weeks a while ago - instead I put more money into the stock market which was a very winning decision for me

 

[caribbeansun]

I rest my case - see this TUG thread