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Why such a huge difference in listed price of for-sale timeshares?

tschwa2

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So hopefully you realize now that your points are worth less than $1000. Why does the broker list higher? Well it seems he really isn't a broker. He isn't offering to list your timeshare, simply buy it for not very much. The reason Wyndham probably recommends this one is that he doesn't list for pennies on the dollar. He makes it appear as though the resales might have some value. If they did they would sell for that on ebay, and on other sites as well. Hopefully you realize that although they may list for more, they won't sell for that and even selling for twice the very low market price will take a lot more time than selling for market price or simply giving it back to Wyndham.

One question you want to for your $500 sale is if the new owner will be responsible for MF right away or after the transfer is complete. My understanding is that if you go with ovations and have a clean uncomplicated deed, the transfer will take 6-10 weeks (so 2-3 months of MF's) if you go with a resale transfer with a clean uncomplicated deed the transfer can take 4-6 months or more to transfer. So are you paying more for the extra 1-4+ months of MF vs what you are getting for the sale.
 

Archivist

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So hopefully you realize now that your points are worth less than $1000. Why does the broker list higher? Well it seems he really isn't a broker. He isn't offering to list your timeshare, simply buy it for not very much. The reason Wyndham probably recommends this one is that he doesn't list for pennies on the dollar. He makes it appear as though the resales might have some value. If they did they would sell for that on ebay, and on other sites as well. Hopefully you realize that although they may list for more, they won't sell for that and even selling for twice the very low market price will take a lot more time than selling for market price or simply giving it back to Wyndham.

One question you want to for your $500 sale is if the new owner will be responsible for MF right away or after the transfer is complete. My understanding is that if you go with ovations and have a clean uncomplicated deed, the transfer will take 6-10 weeks (so 2-3 months of MF's) if you go with a resale transfer with a clean uncomplicated deed the transfer can take 4-6 months or more to transfer. So are you paying more for the extra 1-4+ months of MF vs what you are getting for the sale.

"So hopefully you realize now that your points are worth less than $1000." Who said I did not realize that from the beginning? Please read ALL of my comments. ( "...hopefully you realize" feels just a tad condescending.)

"Well it seems he really isn't a broker." I've said nothing to indicate that "he" isn't; there is nothing in my comments to suggest or lead to this conclusion. Please read ALL of my comments.

"He isn't offering to list your timeshare, simply buy it for not very much." I did actually have to sign a listing agreement, but was lead to believe that they have a buyer for XX amount - no out of pocket to me. The conclusion of this is yet to be seen.

"The reason Wyndham probably recommends this one is that he doesn't list for pennies on the dollar." Perhaps. The reason I posted my original question is that I would like to KNOW (not suppose) the answer to this question. This is the whole reason I paid $15 to join TUG and posted this question. I thought there would be someone who would KNOW about this and how this works.
Looks like I wasted $15.
Also, in my research, there were quite a few other timeshare brokers who also listed super high asking prices for the same thing as what I have. Higher than these two brokerages. So can't say they're the only ones. In fact, I did not find any reasonable listings for anything comparable to mine out there, except for on TUG. .......There was one. So one listing for $500 vs many, many listings for $15,000+. ..................That's why I was asking the question I asked.
There is some sort of reciprocal agreement between Wyndham and these two brokerages. They are able to go into Wyndham's records, quickly and easily, in a way that other brokerages are not. They are not just "recommended" by Wyndham; they are working together. This is also why I chose them. Please read my other comment about this decision and why.

"Hopefully you realize that although they may list for more, they won't sell for that and even selling for twice the very low market price will take a lot more time than selling for market price or simply giving it back to Wyndham." I don't understand the "hopefully" part (tad condescending), but AGAIN, was asking for FACTUAL information about how all of this works. FACTS, not suppositions.

"One question you want to for your $500 sale is if the new owner will be responsible for MF right away or after the transfer is complete. My understanding is that if you go with ovations and have a clean uncomplicated deed, the transfer will take 6-10 weeks (so 2-3 months of MF's) if you go with a resale transfer with a clean uncomplicated deed the transfer can take 4-6 months or more to transfer. So are you paying more for the extra 1-4+ months of MF vs what you are getting for the sale."
This is actually a very good question, a good angle to consider. My understanding is that he had a buyer and that everything would be said and done in a few weeks. If not, I'll cancel the listing agreement and just give back to Wyndham. Our MF is less than $50/mo, so even if it takes 6 months we would be $$ ahead.

Thank you for your time and consideration.
 

HitchHiker71

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Thank you Hitchiker! I've printed it and am hanging it on the wall. Next to a copy of my overpriced developer contract. Next to a copy of my Redweek ad trying to sell said overpriced contract at 10% of what I bought it for (unsuccessful of course). Next to my diploma in "learning about timeshares after you've bought them" from TUG (-:). The one thing I would add from a previous post in this thread is the point of increasing maintenance fees. They are insidious. They make the use of the timeshare increasingly expensive over time and, likewise, make it more difficult to unload the timeshare as the years go by.

Referencing Rule #6 from this blog article



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HitchHiker71

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@Archivist for my part I certainly did not mean to offend or to come across as condescending. If that was the case - my apologies.

It sounds like you have the answers you require at this point. I will relegate myself “radio silent” unless you have any additional inquiries. Best of luck with your deed back adventures.


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tschwa2

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@Archivist for my part I certainly did not mean to offend or to come across as condescending. If that was the case - my apologies.

It sounds like you have the answers you require at this point. I will relegate myself “radio silent” unless you have any additional inquiries. Best of luck with your deed back adventures.


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Personally @Archivist sounds like the condescending jerk. HOPEFULLY he now knows what to do because I won't be replying again. @Archivist, If you don't understand why re-read your responses.
 

dandjane1

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I read every post in this thread, and am astounded that with all the 30-year T/S owners opining, not ONE mentioned the "other" Wyndham option - the briefly-offered "Pathways", which gave owners the right to give Wyndhan 1st-right-of-refusal (if your points or deeded property was on their "preferred" list) for a 20% price on your developer-purchased points or deeds. For example, if you had, over the years, paid $50,000 for your Wyndham T/Ss, you could expect to be offered $10,000 to hand it back to Wyndham. This program was offered for a short time in 2013 and 2014 I believe, and was so popular that they quickly ended it. We got our full developer points into this program, and yet I've never seen this mentioned on TUG. Perhaps Archivist never availed theirself of this....................too late now, of course. This is a FACTUAL post, however.
 

bluehende

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"So hopefully you realize now that your points are worth less than $1000." Who said I did not realize that from the beginning?


This may be where that impression comes from.


Without any information about how they all operate together, all I could see is that these two brokers are offering about $500 for our Club Access points, when I see the same thing listed on their website for $15,000. Just trying to figure out if I'm being taken for a lot of $$.

If I can only sell our Club Access points for about the same amount as what they are offering, with no further time or cost to me, it's a no-brainer. But, ...if there's some more information that I could use to get more $$ for it from them, I'd like to know.
 

rickandcindy23

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Personally @Archivist sounds like the condescending jerk. HOPEFULLY he now knows what to do because I won't be replying again. @Archivist, If you don't understand why re-read your responses.
I agree.

If you have status in your timeshare, like Platinum status, you can add someone to your deed, then take your name off in a later transaction, and that retains the status to the person who stays on the deed. It's not a bad plan to do that, and maybe that is the way this "broker" is willing to take your timeshare off your hands for $500. Maybe that is their angle. I have heard of this way to successfully transfer a timeshare with status.

That is all I will say because I found your responses to long-time TUG members to be quite rude and more than a little condescending. You are talking to experts here on TUG, not a bunch of no-nothings.
 

dgalati

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If you bought retail from Wyndham, why not try their Ovations Limited Edition program in which you get three (3) years of MF usage for free? Those brokers work closely with Wyndham. Those brokers know they can't sell for $15k, but are doing it per Wyndham's bidding. Wyndham likely refers to "third party" brokers' prices during their stupid sales presentations.

If the TS doesn't sell, the broker sells it back to Wyndham for about $2-4k, depending on size and desirability of the contract. Wyndham will then sell it to some unsuspecting new TS owner for $20-30k.
I sold 4 deeds to one of Wyndhams prefered brokers. $500 ea. Wyndham was the third party buyer. It only took 4-5 weeks to transfer from start to finish.
 

dgalati

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I agree.

If you have status in your timeshare, like Platinum status, you can add someone to your deed, then take your name off in a later transaction, and that retains the status to the person who stays on the deed. It's not a bad plan to do that, and maybe that is the way this "broker" is willing to take your timeshare off your hands for $500. Maybe that is their angle. I have heard of this way to successfully transfer a timeshare with status.

That is all I will say because I found your responses to long-time TUG members to be quite rude and more than a little condescending. You are talking to experts here on TUG, not a bunch of no-nothings.
It is against Wyndham rules to add someone other than family to a deed to acquire "STATUS". We are Not all experts but will agree on the bunch of no-nothings statement. LOL
 

bogey21

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I read every post in this thread, and am astounded that with all the 30-year T/S owners opining, not ONE mentioned the "other" Wyndham option - the briefly-offered "Pathways", which gave owners the right to give Wyndhan 1st-right-of-refusal (if your points or deeded property was on their "preferred" list) for a 20% price on your developer-purchased points or deeds. For example, if you had, over the years, paid $50,000 for your Wyndham T/Ss, you could expect to be offered $10,000 to hand it back to Wyndham. This program was offered for a short time in 2013 and 2014 I believe, and was so popular that they quickly ended it. We got our full developer points into this program, and yet I've never seen this mentioned on TUG. Perhaps Archivist never availed theirself of this....................too late now, of course. This is a FACTUAL post, however.

Doesn't this solve your problem....

George
 

SmithOp

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"The reason Wyndham probably recommends this one is that he doesn't list for pennies on the dollar." Perhaps. The reason I posted my original question is that I would like to KNOW (not suppose) the answer to this question. This is the whole reason I paid $15 to join TUG and posted this question. I thought there would be someone who would KNOW about this and how this works.
Looks like I wasted $15.

Thank you for your time and consideration.

Here’s a fact, you didn’t need to join to participate in the discussion forums, you only need the membership to post an ad to sell in the Marketplace.

Perhaps @TUGBrian will give you a refund if you are that dissatisfied with the results of your inquiries.




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rbone100

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If you bought retail from Wyndham, why not try their Ovations Limited Edition program in which you get three (3) years of MF usage for free? Those brokers work closely with Wyndham. Those brokers know they can't sell for $15k, but are doing it per Wyndham's bidding. Wyndham likely refers to "third party" brokers' prices during their stupid sales presentations.

If the TS doesn't sell, the broker sells it back to Wyndham for about $2-4k, depending on size and desirability of the contract. Wyndham will then sell it to some unsuspecting new TS owner for $20-30k.

I wish Marriott had a program like this... They take care of everything! I tried twice to give away my Marriott's St Kitt's timeshare. The snag was getting the deed in my name from when I bought it resale. The A$$$ attorney in St Kitts lost the deed in my name and then went out of business. Yes, I do have copies of the deed emailed to me. Marriott also received what they needed and transferred ownership to me.

Getting a certified copy of the deed using a practicing attorney in St Kitts is going to cost $2k and take months. If we ever go back to vacation in St KIitts, that will be my mission for the entire week. For now, I trade with IA and rent it out each year. I love St Kitts but they operate on two speeds, slow and stop! :)

I think I'm going to start a thread about this.... It therapeutic! :)
 

Grammarhero

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Personally I don’t think @Archivist was being condescending. He didn’t know that the people who respond are essentially Wyndham experts. He just thought they were random TS owners.

We also have to remember that he is probably in shock over resale value of his Wyndham TS. His over sensitivity is not in response to us, but feeling ripped off over resale values. The man paid $10k+ and now finds himself only able to sell for $500. I unknowingly offended my MIL’a client when offering to buy Massanutten for $500, even though he paid $10k.
 

dayooper

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Personally I don’t think @Archivist was being condescending. He didn’t know that the people who respond are essentially Wyndham experts. He just thought they were random TS owners.

We also have to remember that he is probably in shock over resale value of his Wyndham TS. His over sensitivity is not in response to us, but feeling ripped off over resale values. The man paid $10k+ and now finds himself only able to sell for $500. I unknowingly offended my MIL’a client when offering to buy Massanutten for $500, even though he paid $10k.

I think the OP wanted certain information. That’s not an issue. The issue was when they didn’t get exactly what they were looking for, they responded in a condescending manner. It came across as the people, who were giving free advice, were not intelligent enough to understand what they were asking.

I have no problem wanting certain information, especially “fact based” opinions. It was a very specific question and they wanted a very specific answer. The OP treated those that tried to help with a condescending manner. A better approach would have been to engage those that were helping by asking better questions. Being more specific and then, if you still don’t get what you want, move on. The OP chose a different method.
 

montygz

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The five stages of grief after paying full price for a timeshare:

1. Denial: There's no way the timeshare I bought for $20,000 is only worth $1.
2. Anger: I'm going to hire a team of lawyers to sue those liars and get me out of this.
3. Bargaining: If I offer my timeshare for sale for $10,000, maybe someone will buy it. Plus, I just got a helpful postcard in the mail offering to help me.
4. Depression: I'm so sad I paid $20,000 for something worth $1. And I can't believe I wasted another $5,000 on lawyers and the postcard company.
5: Acceptance: I'm going to learn on TUG how to use this timeshare to the fullest or learn how to sell it for $1 to escape the maintenance fees.
 

WVBaker

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Personally I don’t think @Archivist was being condescending. He didn’t know that the people who respond are essentially Wyndham experts. He just thought they were random TS owners.

From a different perspective, perhaps @Archivist needs rethink his own comments prior to labeling or perhaps labelling, depending on his/her choice of spelling, others. Let's look at just a couple. :ponder:

"I can't "sell to whymdam," (do you mean Wyndham?)."

Do we need to point out and correct another's spelling?

"Please read ALL of my comments."

Perhaps "ALL" his/her comments were read. Why the insinuation with "ALL" in capitals?

Also

"I thought there would be someone who would KNOW about this and how this works. Looks like I wasted $15."

There were those who did "KNOW" and are quite knowledgeable about his/her concerns and did try, in their own way, to help. If it's not what you want or expect to hear, just
move on. There's no reason to challenge one's knowledge or suggest a lack of.
 

TUGBrian

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all I see is a ton of folks who gave you solid advice on the subject you posted about. If you didnt want that, you likely did come to the wrong place.

There are plenty of other internet sources that will tell you what you want to hear, instead of the truth.
 

dgalati

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all I see is a ton of folks who gave you solid advice on the subject you posted about. If you didnt want that, you likely did come to the wrong place.

There are plenty of other internet sources that will tell you what you want to hear, instead of the truth.
Sometimes the truth hurts. It is part of society as a whole today starting with participation trophies.
 

DannyTS

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Why would anyone refund him the membership fee? Insulting other TUGger should cost HIM/HER not TUG
 

stumahlin

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ARCHIVIST WROTE:

"I am wanting to sell our Wyndham Club Access points. I see a huge difference in listed prices for a comparable timeshare as what we have and want to sell. / My question has way less to do with what I should do, or with what others feel I should do, than it is a request for factual information. I would like to know if there is some missing piece of information (from someone who knows - facts, not opinions) about my question. / To clarify further, why would brokerages list re-sale timeshares at a ridiculously inflated price, one that they can never sell at. And it's not because they'd be making money off the seller. The two brokerages that are recommended by Wyndham offered to buy my points at about what I see it selling at on TUG and Ebay - no out of pocket to me. I'm just wanting to know if they will do that and then turn around and actually sell it at the price I see them listed at. Do they actually sell for many thousands of $$ more?"

SUGGESTED ANSWERS:

1. The buyers in a timeshare "preview center" (aka pressure cooker) are paying huge COMMISSIONS and other sales costs. Something that sold in the pressure cooker for, say, $50,000 but fetches only $5,000 on the resale market included $45,000 in commissions and other sales costs.

2. Like timeshares taken back from owners at virtually no cost by the likes of Wyndham, timeshares sold by owners for a song on eBay and TUG often end up back in inventory for sale at full price in the pressure cookers. PROFITS on such resales pay the commissions and other re-acquisition and re-selling costs.

3. Do some simple math: How much annual cash flow is produced by a single timeshare building that contains, say, 40 units that generate an average of, say, $1000 per year in maintenance fees from, say, 2000 owners? As Marriott's exponential growth testifies, the timeshare business can be very lucrative. It's in Marriott's interest to help suppress resale prices. And Wyndham's. And ....

4. Points produce more profits than deeded weeks.
 

needvaca

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there's such a big discrepancy in resale timeshare prices because...
some sellers try to take advantage of the same disinformation that causes many people to buy way overpriced developer timeshares in the first place.
It's the "who's the biggest fool" mentality.
Some sellers do it knowingly (disreputable brokers). Some sellers (uneducated individuals) do it unknowingly- using false logic that hey I paid $40,000 for it, so it can't be worth less than $30,000, right?

But, for those who choose to educate themselves (mostly on TUG), we know the true value of a timeshare due to research.
And we know that 99% of listed overpriced timeshares will never, ever sell.
As an example, I've seen 110 of the 130 Westin Kierland resales on SMTN (Sell my timeshare now.com) sit there for the last 2 years, because there all so ridiculously overpriced.
 

CPNY

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there's such a big discrepancy in resale timeshare prices because...
some sellers try to take advantage of the same disinformation that causes many people to buy way overpriced developer timeshares in the first place.
It's the "who's the biggest fool" mentality.
Some sellers do it knowingly (disreputable brokers). Some sellers (uneducated individuals) do it unknowingly- using false logic that hey I paid $40,000 for it, so it can't be worth less than $30,000, right?

But, for those who choose to educate themselves (mostly on TUG), we know the true value of a timeshare due to research.
And we know that 99% of listed overpriced timeshares will never, ever sell.
As an example, I've seen 110 of the 130 Westin Kierland resales on SMTN (Sell my timeshare now.com) sit there for the last 2 years, because there all so ridiculously overpriced.
I have purchased 3 timeshares through sell my timeshare now. They use timeshare closing services which charge a huge fee for closing. They operate under many different names, SMTN, the TS Store, Vacation something, discount timeshares, etc. don’t be thrown off by their prices. I purchased 3 timeshares that had listing prices of 30,000. One I paid 1000 for, another I paid 400 for and another 350. Whenever I see a ridiculous price I make an offer for 1 dollar just to get them to cAll me back. Then you negotiate. They know the market and know their prices are ridiculous. They will find other sellers as well. Don’t be thrown outrageous listings. I’ve used their high closing costs as another reason for an inexpensive purchase price. I’ve actually made all my purchases lower than market value including their closing. As far as closing all three were done in less than 6 weeks.
 

needvaca

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I have purchased 3 timeshares through sell my timeshare now. They use timeshare closing services which charge a huge fee for closing. They operate under many different names, SMTN, the TS Store, Vacation something, discount timeshares, etc. don’t be thrown off by their prices. I purchased 3 timeshares that had listing prices of 30,000. One I paid 1000 for, another I paid 400 for and another 350. Whenever I see a ridiculous price I make an offer for 1 dollar just to get them to cAll me back. Then you negotiate. They know the market and know their prices are ridiculous. They will find other sellers as well. Don’t be thrown outrageous listings. I’ve used their high closing costs as another reason for an inexpensive purchase price. I’ve actually made all my purchases lower than market value including their closing. As far as closing all three were done in less than 6 weeks.
see, that made TUG worth my $15 membership right there. I didn't know a total lowball offer to SMTN could work. I think I'll try it- can't hurt right?
 
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