Wyndham Canterbury eBay Sale

[chapjim]

589,000 points sold for $8,701.

Somebody spent a lot of money to save on maintenance fees.

I bid $1,501.

 

[harveyhaddixfan]

Holy smokes. I just saw that. I had it on my watch list to see what it went for.

 

[josegm888]

589,000 points sold for $8,701.

Somebody spent a lot of money to save on maintenance fees.

I bid $1,501.

The real winner in that transaction has to be the seller or broker.


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[dgalati]

589,000 points sold for $8,701.

Somebody spent a lot of money to save on maintenance fees.

I bid $1,501.

Looks like there were no shill bidders on this one. Some solid buyers with good feedback scores. It will take several years for a payback on this one. Then again the $8700 could of paid for several years of rentals.

 

[cbyrne1174]

Won't it only take around 10 years for the buyer to break even when comparing the MF to CWA?

 

[Richelle]

Those look like legit bids and not someone intentionally driving up the price. Judging by the maintenance fees, that's standards points, not PR, so I have no idea why it would go that high. Hats off to the seller.

 

[chapjim]

Those look like legit bids and not someone intentionally driving up the price. Judging by the maintenance fees, that's standards points, not PR, so I have no idea why it would go that high. Hats off to the seller.

I thought the same thing -- two guys slugging it out.

 

[dgalati]

Won't it only take around 10 years for the buyer to break even when comparing the MF to CWA?

Yes it may be less then 10 years. But a lot happens in that ten years that can not be planned for. Better use of the 9k is to rent as needed without the commitment or burden of paying maintenance fees.

 

[ausman]

I also thought it was wildly overbid. But, then I considered what I originally paid for my entry to the Wyndham system and for someone recently removed from the sales process it would have been an absolute bargain.

 

[Jan M.]

I had it on my eBay watch list too. I like to keep an eye on things even though I'm not in the market for more points. It went a lot higher than I thought it would!

If you compare Canterbury 2020 maintenance fees of $3.63 to CWA 2020 maintenance fees of $6.28 on 589,000 points it will take 5.6 years to recover the purchase cost of $8701. I like using Grand Desert in my examples because it has the lower end of average maintenance fees. Using Grand Desert buildings 1 and 2 maintenance fees for 2020 of $4.87 it would take 11.95 so rounded up 12 years to recover the purchase cost.

 

[bendadin]

I thought that Canterbury deeds were free with closing. No?

 

[chapjim]

Compare Wyndham Panama City Beach sales:

700,000 points for $1,125 (10/18/2020) (Timeshare Sales Group)
428,000 points for $3,300 (10/11/2020) (Legacy Timeshares)
700,000 points for $224.50 (8/31/2020) (Legacy Timeshares)

Any connection between Timeshare Sales Group and Legacy Timeshares?? Maybe not happy getting only $224.50 for a big contract at a low MF resort??

Edit: Another big points contract on eBay: 758,000 points at Wyndham Midtown 45, starting price $5,950. Midtown 45 isn't a low maintenance fee resort (~$5.45/thousand), but NYC isn't a low rent city either.

 

[dgalati]

Those look like legit bids and not someone intentionally driving up the price. Judging by the maintenance fees, that's standards points, not PR, so I have no idea why it would go that high. Hats off to the seller.

Two buyers that got into a bidding war but who was the real winner? IMHO the seller was the winner not the two bidders that could of been patient

I had it on my eBay watch list too. I like to keep an eye on things even though I'm not in the market for more points. It went a lot higher than I thought it would!

If you compare Canterbury 2020 maintenance fees of $3.63 to CWA 2020 maintenance fees of $6.28 on 589,000 points it will take 5.6 years to recover the purchase cost of $8701. I like using Grand Desert in my examples because it has the lower end of average maintenance fees. Using Grand Desert buildings 1 and 2 maintenance fees for 2020 of $4.87 it would take 11.95 so rounded up 12 years to recover the purchase cost.

Very good example. 12 years to recoupe a resale purchase is absurd. Especially knowing you can rent for less from a VIP if you can travel in the 60 day discount window.

 

[dgalati]

I thought that Canterbury deeds were free with closing. No?

What? Nothing is free unless you are VIP with FREE HK!

 

[Richelle]

What? Nothing is free unless you are VIP with FREE HK!

Or he had enough housekeeping credits and didn't need to pay for them.

 

[Richelle]

Two buyers that got into a bidding war but who was the real winner? IMHO the seller was the winner not the two bidders that could of been patient

That's why I said "Hats off to the seller"

 

[cbyrne1174]

12 years isn't a bad amount of time to break even though. I personally plan on being an owner for 50+ years myself if Wyndham and myself are still around. I started at 28 in 2018 and went with a mainly Grand Desert ownership because of low buy in costs.

 

[Manzana]

Crazy when you compare this to the 1 Million Pt PR contract for Clearwater that just sold for $2425.

 

[Richelle]

Crazy when you compare this to the 1 Million Pt PR contract for Clearwater that just sold for $2425.

Some of those PR contracts have a ROFR clause in the bylaws. I know National Harbour is like that. If Clearwater is, I would be willing to bet Wyndham will exercise their ROFR and take that contract.

 

[Manzana]

Yeah. I was so mad because I didn’t reauthorize my snipe program and was willing to go quite a bit higher....LOL. But I am sure I Can do fine with the extra money now.

 

[kaljor]

Some of those PR contracts have a ROFR clause in the bylaws. I know National Harbour is like that. If Clearwater is, I would be willing to bet Wyndham will exercise their ROFR and take that contract.

I understand the logic behind what you wrote, but I haven't ever seen any discussion in this forum about Wyndham actually exercising their ROFR

 

[Richelle]

I understand the logic behind what you wrote, but I haven't ever seen any discussion in this forum about Wyndham actually exercising their ROFR

That’s because their regular point contracts do not have a ROFR clause. As far as I know, there are no resorts where the bylaws state they have ROFR on regular points. PR is a lot more valuable to them, and there is less PR inventory available to sell. If they want to keep selling PR, they have to exercise ROFR to get it back. There is one resort that was sold out of PR inventory. I’m having trouble remembering which one it was, but those reps had to sell PR at other resorts. I want to say it was Avon? I don’t know if that’s still the case, but it shows that PR doesn’t have and infinite number of points. Unless someone is asleep at the wheel, they will likely exercise ROFR on that one.

 

[bendadin]

Two buyers that got into a bidding war but who was the real winner? IMHO the seller was the winner not the two bidders that could of been patient

Some of these resellers are broker/agents. They are selling contracts and they take a percentage (one quoted me 25%.) So you can't say that a reseller is a winner but you can certainly say that the owner was the loser.

 

[bendadin]

Some of those PR contracts have a ROFR clause in the bylaws. I know National Harbour is like that. If Clearwater is, I would be willing to bet Wyndham will exercise their ROFR and take that contract.

I've not seen one report of Wyndham exercising ROFR. I couldn't begin to understand why they do not take PR, though.

 

[Richelle]

I've not seen one report of Wyndham exercising ROFR. I couldn't begin to understand why they do not take PR, though.

That is because there are so few PR contracts. It's unlikely you'll see a report of someone exercising their ROFR on a PR contract simply because the odds of them coming here to report it are slim. Also, those points usually go for way more than $2k. Wyndham may have a cut off on how much they will pay to exercise their ROFR. I know of one reseller selling a midtown contract. Asking was $50k and they had a buyer. I'll have to see if that deal went through. That may be one Wyndham doesn't exercise ROFR.