Wide range of price for same timeshare?

[Geo W]

I'm new to timeshare - other than for the three days it took us to decide that we made a big mistake buying a timeshare before we rescinded, we have never owned one. I'm looking at ads on a timeshare resale website (myresortnetwork.com) for a particular small HGVC resort. A few are listed for a floating week between week 16 and week 51. Bizarrely to me, the prices range from under $1000, to $5000, to over $10,000. I know that time shares are not a very liquid market, but this seems crazy. Might there being something different between them and what questions should I ask to find out? thanks --George

 

[Railman83]

EBay and Tug are better bets. The difference in pricing at a particular resort is usually the demand level of a particular week combined with the level of self delusion of the buyer.

If you say what resort you are looking at, you will get some Tuggers with extensive HGVC ownership and experience that can tell you what the real market price is in a fairly reliable window (e.g. not $1000 to $10000).

 

[theo]

I'm looking at ads on a timeshare resale website (myresortnetwork.com) for a particular small HGVC resort. A few are listed for a floating week between week 16 and week 51. Bizarrely to me, the prices range from under $1000, to $5000, to over $10,000.

Regardless of the particular timeshare system or product, some people invariably base their asking price in part upon what they paid, neglecting (...or refusing) to understand and / or acknowledge that whatever they paid is completely irrelevant in the context and reality of its' actual value in the secondary (resale) market today.

 

[RX8]

And while the prices may widely vary between otherwise exact same timeshares (i.e. HGVC platinum 7000 pts from Flamingo LV) that would be the only difference*. Timeshares aren’t like cars where prices can vary based on condition. There is no such thing as a low mileage timeshare.

*There are variables at time of sale that can cause prices to legitimately vary between timeshares. These include whether or not there is any free usage thrown in, if the seller is paying closing costs, and how much the closing costs are if the buyer is paying. However, the real value is really how much out of pocket that the buyers are willing to pay factoring these variables.

 

[vacationtime1]

One place to get actual sales price data is the closed auctions on eBay. Do a regular eBay search, but click the box for completed auctions. You will see closed auctions -- actual sales (as well as timeshares that attracted zero bids at the opening price).

eBay is the bargain basement of timeshares and a spot market on top of that. But it does shows actual transactions (presumably completed transactions).

 

[WinniWoman]

Some people have large loans on their timeshares and have to advertise enough to cover it once the timeshare sells. Others are low because they are paid for and the owners just want to cover the brokers' commission. That is another reason for the difference in price.

 

[taterhed]

I'm new to timeshare - other than for the three days it took us to decide that we made a big mistake buying a timeshare before we rescinded, we have never owned one. I'm looking at ads on a timeshare resale website (myresortnetwork.com) for a particular small HGVC resort. A few are listed for a floating week between week 16 and week 51. Bizarrely to me, the prices range from under $1000, to $5000, to over $10,000. I know that time shares are not a very liquid market, but this seems crazy. Might there being something different between them and what questions should I ask to find out? thanks --George

Don't go about this backwards......"oooh that looks good!" It's like sending a hungry man into a bad restaurant; everything looks good until you taste it......

Run the survey (There's a 'newbie survey' that will give you a clue whether timeshares might be right for you and what it might entail to purchase and own resale. What to buy (are timeshares right for me) link here!!!!!)

Then, get some suggestions as to what might fit your needs. If you are really targeted on HGVC, then post that and post WHY you think HGVC will work for you.....
After you figure out what resort/system, how many points/weeks etc.... Then get some specific advice about which resort/season/points (etc...) will give you a good combination of purchase price and cost per point on MF's. Yes, it's all about balance.

One key in HGVC: buying too large of a contract isn't good. But, buying too small of a contract or a really inefficient contract can be a big mistake that requires you to sell/repurchase.

After you find out what you want....then go shopping. But, before you do, get some advice on trusted (or well-known) sellers on the internet or Ebay. There are many potholes out there. let TUG help you miss a few.

As to the varying prices..... Contrary to public opinion, "Denial" is not a river in Egypt, it's the owner of a timeshare refusing to acknowledge that the sales-weasel lied...... and they paid too much


Welcome!

 

[Panina]

Welcome to TUG. Glad you rescinded and are asking questions before you buy.

Timesharing can be a wonderful experience if it is right for you and gotten at the right price on resale.

What is right for others can be different for you. I agree start with the survey so we can help you better.

As far as the differences in prices, others have explained it well. Just let me add knowledge and patience usually gets you the best price.

 

[brianfox]

To the OP, the prices you see online are simply asking prices.
Heck, if I purchased something at a great price and had the opportunity to list it (for free) at a much higher price, why wouldn't I do it? If some fish took the bait, I make money.

I have found that the lowest asking prices on Redweek pretty accurately reflects real sales prices (at least for Marriott).
Most online resources don't share what the actual sales price ended up being.

When it comes to timeshare, you should do a lot of research before buying anything. I have only purchased Marriott weeks. If you are interested in buying Marriott weeks, you need to decide the resort you want to purchase into, and then see what types of weeks are available (floating, fixed, annual usage, every other year usage, view type, number of bedrooms). Once you know what you want, the only thing that differentiates what you see online is the price.

So person A may be asking $10,000 for a 2BR Ocean View Annual usage week at Maui Ocean Club, while person B may be asking $20,000. There is NO DIFFERENCE between those weeks (assuming neither has any outstanding liens). Regardless of who you purchase from, you will have the same dues every year, and will have the same usage rights every year.

So why would person B be asking so much? Maybe he paid $60,000 for the week from Marriott and wants to minimize his losses. Chances are no one will buy it at that price. He also may not know the true market value of the week (which is set by buyers, not sellers).

Person A may be asking less because she wants to unload her week quickly. She did research and saw others sell recently for this price.

When I wanted to buy my Marriott weeks, I tracked resales every week on Redweek, Ebay, and TUG for half a year until I had an excellent feel for the true price. It saved me thousands, because I was willing to pay too much before I started researching. During that time, I rented units from owners and learned that owning (at least for me) is really just "discounted renting" because maintenance fees aren't a heck of a lot less than rent. Owning lets us get the weeks we want back to back, with no uncertainty.

 

[Geo W]

I'm new to timeshare - other than for the three days it took us to decide that we made a big mistake buying a timeshare before we rescinded, we have never owned one. I'm looking at ads on a timeshare resale website (myresortnetwork.com) for a particular small HGVC resort. A few are listed for a floating week between week 16 and week 51. Bizarrely to me, the prices range from under $1000, to $5000, to over $10,000. I know that time shares are not a very liquid market, but this seems crazy. Might there being something different between them and what questions should I ask to find out? thanks --George

I'm the OP - not sure if using reply is the best way to add to my question. The resort is Hurricane House on Sanibel Island.

 

[Panina]

I'm the OP - not sure if using reply is the best way to add to my question. The resort is Hurricane House on Sanibel Island.

I'm new to timeshare - other than for the three days it took us to decide that we made a big mistake buying a timeshare before we rescinded, we have never owned one. I'm looking at ads on a timeshare resale website (myresortnetwork.com) for a particular small HGVC resort. A few are listed for a floating week between week 16 and week 51. Bizarrely to me, the prices range from under $1000, to $5000, to over $10,000. I know that time shares are not a very liquid market, but this seems crazy. Might there being something different between them and what questions should I ask to find out? thanks --George

I’m confused, myresortnetwork.com Lists the float week for $5500 at Hurricane House and I only see one. Where did you see it for $1000?

I’m sure you could find it for less elsewhere as that is a listing from a RE agent for the resort. Finding a private sale will get you a lower price.

If you are looking for hgvc points at affiliates you can definitely get floating weeks for less.