what are points at south beach actually worth?

[evans9155]

Thanks in advance to all the TUG folks that post great info I wish i would have found years ago. Any way, i've read the do's donts of selling here, i've watched the youtube video on what its worth, gone trolling through ebay with no real results. I went on Tug to the review section for the resort, and looked at sales data, but there frankly isn't much there, with one sale supposedly over a year ago, and not much in the years prior. Looking for any assistance. I've read multiple comments here and there on this website stating South Beach has "some value" due to points transfer at resale, so if I could get something out of it, I would prefer to do so, before I call Horizons and give it back for nothing.
HICV, South Beach Resort, 2BR, 150,000 Points annual. Not sure what zone/or week, since its all points now, cant seem to find it on the website.
Thanks in advance, this looks like the right place for this stuff, if only I knew of you guys way back then.

 

[tony_i]

Hello and welcome!

If it is a yearly unit at south Beach, do not use horizon. You have a desirable contract that can transfer as points in the resale market and new owner will enjoy most of the HICV benefits.

Your unit is a platinum season which offers decent maintenance fees to points ratio, south beach is very desirable resort, and your unit will allow resort access to new buyer. This allows booking in South Beach from 13-10 month out as well as 10 month booking at any other resort. The new buyer will also be able to book their deeded week up to 3 years in advance, which yours should be one of weeks 18-23 and 33-47.

In regard to pricing, if it is a every year you could look at around $2500 - $3000. If a EOY maybe half of that.

One 176k contract at south Beach closed on eBay april 7 for $3350 with 6 bidders and 39 total bids.

About 3 month ago another 176k contract sold for over $5k on eBay, is no longer visible but I had it on my watch list.

My recommendation, list it on eBay for 30 days starting at $2500 or $3000 an notify user here and on the HICV facebook group. Many there are always wanting to buy. This will allow plenty of time to raise the interest, hopefully more bidding, and for you to get a fair price.

Closing can be done by a 3rd party at around $150-$300, or Orange Lake can do it too for $100. If using OL buyer would have to have some trust in you, so using a 3rd party might be best for all parties involved. Orange lake has a right of refusal, but you will get the contract price if they exercise it.

Good luck and welcome to the site! There is a lot of info on other topics like title companies and services.

Tony


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[evans9155]

Tony,
Thanks so much for the info. I was originally planning on posting it here, or on the sale side of this place, would you recommend ebay over them? I haven't dealt with ebay in years, i'll have to get smart on them. I'm currently waiting to get approved to join the HICV facebook club, so I can talk to folks there as well. Is timing really a factor with these things? We took a pre-covid trip so I think there are 76K ish points on the books now, with another 150K coming in January.(how much will transfer, i dont know) Not sure if now is a good time to sell, but if I wait too much longer, i'll be into MF again.

 

[tony_i]

Tony,
Thanks so much for the info. I was originally planning on posting it here, or on the sale side of this place, would you recommend ebay over them? I haven't dealt with ebay in years, i'll have to get smart on them. I'm currently waiting to get approved to join the HICV facebook club, so I can talk to folks there as well. Is timing really a factor with these things? We took a pre-covid trip so I think there are 76K ish points on the books now, with another 150K coming in January.(how much will transfer, i dont know) Not sure if now is a good time to sell, but if I wait too much longer, i'll be into MF again.

In recommending eBay, is for you to get the current best market value for the unit. The 30 days gives you plenty of exposure, which most of the other timeshare sellers do not. They usually do 7 to 10 days listing. These properties do not come in the market as often. In the last 3 years I have seen maybe 4 or 5 of over 150k points at south beach. Lake Geneva is more common but these are contract of less point value. Remember that buyer has to pay HICV yearly fee. So if someone is getting in the system, they need the most points to make MFs ratio work. Smaller lake Geneva contract works for current member that can add more points and MFs ratio are the same for all contracts.

You definitely want to transfer prior to November. Those current year points are not likely to transfer, so do not advertised them or include them. On my latest two purchases I have had letters from owner requesting the transfer of points to me and that never happened. I am currently waiting on another one to transfer to me, and I might not get those either.

In regards to the timing, I do not know. As you can see, there was about a $2k difference in price on the same contract of 176k points. So sellers reputation, days of the listing, and other factors could be the difference. That is why I recommend those 30 days. I do see that there is more inventory in those late month of the year as people want to avoid those MFs, but those do not apply to yours. You have something many want and they do not come often.

You can also request a estoppel letter from orange lake and build the trust with buyers. Make sure to hide your info from it.

The fb group is great. Lots of info and knowledgeable people. If you want to list it there, they require you to list your asking price, therefore eliminating the true current market value people are willing to pay. So rather than listing it there, ask opinions on what is the going rate for your contract. I am sure many will be contacting you via private message with offers. This could be another way to sell it without much work.

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[Bmatrose]

All the info you have been given is spot on. On ebay auction it will go somewhere from 1K to 3K. If you post on Holiday Inn Facebook people will swoop in and low ball you. The best most market friendly approach is through Ebay