Timeshare Resales

We  bought all of our 13 timeshares either resale or from a reseller working at a resort that is sold out.  We saved thousands of dollars rather than pay the prices that the developer was asking. We have been to many timeshare presentations at  different resorts,  have talked to numerous timeshare owners, and have followed current developer pricing.  We would like to share some additional information about the timeshare resale market.

As an example, Wyndham timeshares are currently selling for around 12 to 15 cents per point from the developer,  while on the timeshare resale market they are going for 1 cent per point or less.  If you do the math using a typical two bedroom unit at one of their resorts, you will get a better understanding of the cost savings.  At most Wyndham’s resorts it will take 154,000 points to reserve a week.  Smaller units and off season will take less.  To reserve some of the newer resorts,  it takes over 200,000 points for a two bedroom in prime time.

I talked to someone recently that had  been to a timeshare presentation at the Wyndham Grand Desert in Las Vegas and they were given the opportunity to buy new points for 20 cents per point.  After saying no to that, they were offered some old contracts that Wyndham was selling for around 10 cents per  point.  So if you bought new points at $.20 and wanted 154,000 points, that would cost you $30,800.00, but if you bought an old contract from the developer it would cost you $15,400.00.  On the other hand, if you bought them resale you would pay only $1,540.00 or less, a savings of  between $13,860.00 to $29,260.00.

When we indicate to  people that we talk to at timeshare resorts that we have bought all our timeshares resale, we get some interesting reactions. Lets take a look at some of their reactions or comments and how we respond to them:

• “Is it safe or can you get taken?” You do need be careful and check things out before you commit.  You need to call the resort that you are thinking about buying and check to make sure that the week and the unit is in good standing. In fact, you should check all the information that you have with the resort.   Also, you should check to see if the person selling is really the owner. Make sure that they are using a holding company that holds the money until you have a free and clear deed transferred to your name, and then sends the money to the seller.
• “How do you buy using  eBay?” Check the completed auctions to see what the resort and unit size that you are interested in have been selling for.  Check the feedback for the person selling the timeshare.  Also do all of the things listed in the first bullet. Decide what you are willing to pay and set that as your max bid.  Don’t get caught up in the emotions of bidding– there will be others for sale.
• “Is your timeshare deed or ownership any different if you buy resale than if you buy from the developer?”  There is no difference.  Sometimes they might not give you a VIP status, but it is not worth the extra cost to purchase from the developer.

Timeshare resales can be tricky as there are so many different systems.  Make sure that you understand the system that you are buying into so that you know exactly what you are getting.  Take your time and do some research so that when the right resort comes along, you’ll be ready.  There are some great bargains out there!

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