Wow, this is the largest single contract I've ever seen!

[diznyfanatic]

OOPS! I edited the link out as I didn't think and I probably shouldn't post it since the seller isn't our sponsor. Do a search on eBay for Boardwalk villas and you'll find it. It's the only one for $150,000.00 and 2000 points!

I admit I don't have a lot of DVC experience, but the DIS has provided a much better than average DVC education I think. Still, I don't think I've ever seen or heard of a single contract this size. I've heard of members that have multiple contracts that come close to this though.

Since it's going for $75 a point, my guess is that it would normally get ROFR'd, but don't know since it's such a large number of points. The question is, how long do you think it will it take to find a buyer and Disney ends up with these points in their inventory if it does get ROFR'd?

[Granny]

Wow, that's one big contract, isn't it? :eek: I can't imagine anyone scooping it up, and yes it would seem that Disney would be the one to do so. Figure that it probably won't even get $75 per point and Disney will ROFR it for sure.

Could be Christmas in July for a lot of people waitlisted for BWV points! :)

[NJOYURLIFE]

Wow!!! That's alot of points.

[*elaine*]

:scared1:

Wow! Disney would be able to make quite a few new and old DVC members very happy if they snatched up and resold those points.

[Mr. Disney 652]

After I hit the lotto, we'll split them between us!

[NJOYURLIFE]

The biggest problem is getting someone to put a contract on those points. They will probably just sit. I take it Disney can't get a chance at them if they are not presented for ROFR?

[rocketriter]

Someone who doesn't understand ROFR might come along with a low-ball bid and then *bing!* those points will pop into DVC's resale inventory.

[diznyfanatic]

Could the seller contact Disney directly to sell their points or does someone else have to submit a contract for them first?

I couldn't find a UY in the listing but I did find this somewhat amusing "2006’s Maintenance fees and taxes are only $9,380". :scared1:

[Boston5602]

After I hit the lotto, we'll split them between us!


after " I " hit the lotto , I'll be spending most of the winter in DISNEY with 2000 points . Hey the Dues are not quite $10,000.00 not bad at all :goodvibes

[Cruelladeville]

I think I'll buy that contract once my monthly retirement income begins. :rolleyes1

[diznyfanatic]

There is probably some obvious reason that escapes me, but why do you suppose all of these points were issued as one contract?

Why wasn't it broken up into several smaller contracts?

If the seller isn't able to sell directly to Disney and these points just sit on the resale market because no outside buyer wants to submit a contract, that would really be a shame since at least for my UY there is a waiting list through Disney at BWV.

[Boston5602]

There is probably some obvious reason that escapes me, but why do you suppose all of these points were issued as one contract?

Why wasn't it broken up into several smaller contracts?



I have a friend who use to work front desk OKW through college program and I know she had told me years ago that she had checked in some people who had booked trips on points for a month at a time. One being a prince from Suadi Arabia with his whole family . I would guess ( total guess here ) could be someone like him who use to go all the time , but with post 9/11 , doesn't make it anymore. I have no idea but thought i'd put this out there.

[Sammie]

I am sure Dean or Doc will correct this if my info is wrong, Thanks Guys :thumbsup2 but I believe 2000 points is the maximum one can have at one home resort.

And yes there are others that have that many points. Some are people like Boston mentioned, others are retirees, who come for months at a time. Others are business owners who bought that many points to use to entertain and treat business clients to free vacations.

Some are just regular Joes, and I think there are probably some DISers in that category as well. Not sure if they own at one location, but I am sure some have 2000 points or more.

I mean to many of us that is a large contract, but $150,000 is pocket change to some. I have a friend that bought a beach front condo at Destin, Fl for just under one million, and it was destroyed by one of the hurricanes that hit. The building was condemned and the owner's association is waiting to sell the property after the beach restoration is complete. So my point is my friend is not real concerned that his million dollar property is not there to use and he is still waiting on the sale. And it was much smaller than any of the DVC grand villas.

[diznyfanatic]

So, if the maximum you can own at any one resort is 2000 points, is the total that one membership account can have 5000 points?

Oh, I know Sammie that there are plenty of folks that have that many points and more. I was just really, really curious as to why it was all combined into a single contract. I've never seen that before.

Not that everyone thinks about it at the time, but it seems like it would now be a whole lot easier to sell off 2000 points fairly quickly if it had been done like that. Ten 200 point contracts would sure move a lot faster than one 2000 point contract I would think. :confused3

[diznyfanatic]

Also still wondering if the seller can sell the contract directly to Disney or if someone else has to first submit a contract before it can go to Disney to ROFR?

[Sammie]

So, if the maximum you can own at any one resort is 2000 points, is the total that one membership account can have 5000 points?

Oh, I know Sammie that there are plenty of folks that have that many points and more. I was just really, really curious as to why it was all combined into a single contract. I've never seen that before.

Not that everyone thinks about it at the time, but it seems like it would now be a whole lot easier to sell off 2000 points fairly quickly if it had been done like that. Ten 200 point contracts would sure move a lot faster than one 2000 point contract I would think. :confused3

Oh I see your point. I guess when they bought it they figured it was easier to have the one contract. Not sure. Maybe like you said they just did not think about selling and that it would be easier to sell pieces instead of the lump sum.

[Boston5602]

I was thinking since it was OKW , that they bought quite early ( one of the first DVC'ers )and did not have the guidance yet of the good people here on the Dis :thumbsup2

[diznyfanatic]

Boston, that could be very true although it's a BWV contract, not that that matters too much.

I just thought I might be missing something obvious. You know, like maybe you couldn't split up contracts like that back then or something.

I know if I could afford to buy that many points and I was doing it today, I'd probably split it into twenty 100 point contracts, if you're allowed to have that many. Is there a limit on number of contracts?

Ah well, it's led to some interesting speculation! :)

[Pluto,]

disney should make it easier on people and have like a 500 point maxium per contract. there has been a okw for 1000 points on sale here for a long time.

[Boston5602]

BWV !!! Ohhh Gosh darn it, I already own 200 points there I was GONNA buy that 2000 point contract BUT Disney has a Maximum 2000 limit oh well I'll keep looking for that 1800 point contract now :rotfl2:

[MojitoMiss]

Could the seller contact Disney directly to sell their points or does someone else have to submit a contract for them first?

I couldn't find a UY in the listing but I did find this somewhat amusing "2006’s Maintenance fees and taxes are only $9,380". :scared1:


Which makes me wonder about what happens if people default on maintenance fees/dues. Does Disney step in and take the points after a certain period of lapsed payments? I mean, almost $800/month could get painful while you're waiting to sell a $150,000 contract.

MM

[NJOYURLIFE]

BWV !!! Ohhh Gosh darn it, I already own 200 points there I was GONNA buy that 2000 point contract BUT Disney has a Maximum 2000 limit oh well I'll keep looking for that 1800 point contract now :rotfl2:


:rotfl2: :rotfl2: :rotfl2:

[Pluto,]

i was thinking about buying this contract but i know 75 dollars a point will get rofr so i was going to pay 80 dollars a point for 160,000 dollars so it has a better chance of passing rofr. than something happened i woke up from my dream. some dreams can be so nice

[DisFlan]

Could be lots of reasons. It could be a corporate/business contract. Or it might have been an early contract that Mom and Dad used for a winter residence type thing, but now circumstances have changed - divorce, they're getting too old to use it, can't afford it or have passed away. And the heirs (if there are any) don't want to deal with the $9380 MFs - or they just don't care for DVC. Hard to believe someone might not like DVC, but I suppose it DOES happen.

I know I'd have mixed feelings about inheriting a mondo chunk of DVC that would cost me nearly 10 grand a year. I'd probably try to sell it, too, and buy a smaller contract. Heck, I'd probably list it at $65 a point, and hope Disney snaps it up quick.

DisFlan

[TLinden16]

Wow. That is a whole heck of a lot of points. I've seen some in the 300-500 range, and thought to myself "I would have split that into a couple of contracts if I was going to buy that many." But 2000?

Wow.

[vascubaguy]

My best guess would be that it is a company/business that bought one big contract to offer as incentives to employees, or to host visiting business folks. Perhaps the company is now on shakey ground or having to cut some expenses.

Of course someone could also have inherited it and wants to unload... although... if I inherited something like that, I'd keep it. Sure the dues are almost $10K, but I could rent 2000 points and get at least $20K (so that's a 10K profit!).

BTW, has anyone heard from greenban... if this contract has banked points, he's probably all over it! :rotfl2:

[DisFlan]

Of course someone could also have inherited it and wants to unload... although... if I inherited something like that, I'd keep it. Sure the dues are almost $10K, but I could rent 2000 points and get at least $20K (so that's a 10K profit!).

I thought about the renting angle, too, but wow, you'd be spending a lot of time as a rental "agent". Not sure I'd want to hassle with that many "I need 50 points" people and the attendant problems. That would be more like running a small business, and you'd have to do it year after year. Some folks might be happy doing it, but I don't think I would. The money from the sale (invested) and a smaller contract would be handier.

I also wondered if greenban has seen this one. :rotfl:

DisFlan

[Blue&Gold]

Which makes me wonder about what happens if people default on maintenance fees/dues. Does Disney step in and take the points after a certain period of lapsed payments? I mean, almost $800/month could get painful while you're waiting to sell a $150,000 contract.

MM

I think that if this is a private owner, and short of being one of the felons at ENRON looking to sell assets to cover legal fees, $800 a month is chump change to someone in this economic strata.

But that also speaks to a point I've read before on these boards (and agree with) that the truly wealthy don't use/need timeshares.

[mikesmom]

Way back in 1999 when we were considering DVC we met a man in one of the gift shops who started telling us how great DVC was. He talked about spending 3-4 weeks at BWV, then moving to Vero for a month, then some time back at WDW, then HHI and then going to his family cabin somewhere in the Adirondacks (not DVC). Seemed like the guy was pretty much on permanent retirement/vacation - most of it with DVC. I suspect he probably had a pretty big contract. This was at a time when only OKW/BWV/Vero/HHI were available. None of the other resorts were built yet.

Actually he almost scared us off. He was so into it we were kind of envisioning a Stepford family kind of thing :rotfl2:

We bought anyway.

[LisaS]

Wow. That is a whole heck of a lot of points. I've seen some in the 300-500 range, and thought to myself "I would have split that into a couple of contracts if I was going to buy that many." But 2000?

Wow.Just think, Karen, if you owned that contract then when you arrange the annual DIS meet at Jellyrolls, you could also rent out rooms at BWV to the meet attendees!

[drinkdrankdrunk]

I just made an offer on that at $100,000. Looks like DVC will be scooping up some points soon, no way that will pass ROFR. Well, I can dream right?

Gotchya, just kidding guys. I wouldn't want that many points. 1000 is more than I need now. What would stop someone from making a low offer with no intentions of buying? Say like a friend of the seller offering say $70/pp knowing DVC would ROFR that contract? Risky but could it be done?

[byoung]

It sure would be nice to have 2000 points.