'92 - What was the price point for OKW??

[chip1]

We are just curious - in 1992 (I believe I have the year right) when DVC began, what was the price/point?

[fkj2]

I thought the promo rate advertised before the opening was $48.

I remember receiving letters where the increase was about $1.50 instead of the $5 now. After the opening, I think the price was around $51 and went up every 6 months after that. I know that this may not be exactly it but that's a ballpark number anyhow.

[newt1912]

Back when DVC began and the point price was $50 - $60/point, what type of incentives (if any) were being offered back then.

Back when I first looked into DVC in 1998, they were offering an incentive that had to do with giving you back towards your purchase some of the monies you had just spent on your current trip. I forget how that worked.

I, too, am curious about the price increases over the years and which incentives have been the best.

Thanks

[Jimbo]

Back in the early days of DVC, they had the big Kahuna of incentives. Buyers received free park passes whenever they stayed at OKW through 1999.

[chip1]

I vote they bring back those free park passes!!

[Regina]

We joined in December of 1991. Our use year is February, so our membership technically started in 2/92.

We're pretty sure that the price per point was $51.00 when we bought, with a 210 minimum.

The length of stay passes were great. They were based on the size unit that you were staying in. We always had a 2 bedroom, so we received 4 complimentary passes. (There are 5 of us in my family, so we'd get one AP.)

Remember, this was a completely new concept. We were among the first 500 to join. Fortunately, it's been a huge success, but it could have bombed.

It was a great price, it was a great incentive, and it's still the best investment that we've ever made.

[chip1]

Being new to DVC, it's glad that you still believe in it.

By the way, can someone tell me how your status is decided on here? I've noticed some say, DIS veteran; others say welcomed guest. How is this determined, and how is it changed?

[mac_tlc]

We also joined in February 1992... After viewing a model in November 1991. The price was $51.00 per point, 210 minimum. OKW (at the time it was called The Disney Vacation Club Resort) had annual dues of about $2.50/pt, I believe. One big advantage was the free park passes through 1999. At th time it seemed like an eternity away. On March 1, 1992, the price went up to $52.50 and it has never looked back. On an earlier post I had compiled the price increases since early 1992... Of course, I can't find it now....


mac_tlc

[PamOKW]

Here's a DVC history I compiled awhile back with input from others on the board. There was some discrepancy on exact dates but it'll give you a rough idea of how prices increased.

Chip1 -- As soon as you put up 75 posts you'll see DIS Veteran status appear by your name --- you're almost there.

Pre-Construction - $48(? pt. minimum)
Oct. 7, 1991 - OKW Opens $51
Dec. '91 - $51
Jan. '92 -$51 (230 pt. minimum)
Feb. '92 - $51
July-Aug. '92 - $54.50
11/1/92 - Official date raised to $56
May '93 - $56 (190 pt. minimum)
July '93 - $57.50
Jan. '94 - $57.50 (190 pt. minimum)
March '94 - Announce Newport, CA plans
April '94 - $59 Increase in June announced
6/15/94 - Official date raised to $60.50
Nov. '94 -Approx. date raised to $61.50
7/1/95 - Official date raised to $62.75 October '95 - Vero Opens
March '96 - HHI Opens
May '96 - $62.75
July '96 - BWV Opens
May '97 - $62.75 (150 pt. minimum)
May '98 - $62.75
1998 - OKW Sells-out
1998 - Announce WLV
Jan. '99 - $65
Oct. '99 - $65 (notice of OKW selling out)
Mid-May 2000 - Official date to $67
June 2000 - $67
Nov. 2000 - WLV Opens (sales start Dec.)
Mid-Jan. 2001 - Official date raised to $72
March 2001 an increase to $75 announced for June

[Richyams]

Huh?

They raised the minimum????

I don't think so. The minimum was 230 later in '92, September to be exact. I thought that was the original minimum.....or possibly it had been lowered from 250.

This is really a surprise, I am not sure if I believe it. Do we have any other confirmations of this minimum??

[Richyams]

I posted before I saw the prior post....

Thanks, I thought that 210 minimum looked very unfamiliar.

The minimum was never 210 points.

[WebmasterDoc]

The original minimum was 230 points. When we purchased in June, 1993 it had been lowered to 210 (price was $56) , went to 190 and has been at 150 for several years now.

[newt1912]

Thanks, PamOKW. The DVC history is very interesting.

BWV opened in July 96. When did it sell out? I see that VWL sales opened in 12/2000 and I was just curious if BWV and VWL were being sold at the same time or if BWV was sold out by the time VWL opened. Just wondering if there was a time when 2 WDW DVC resorts were selling at the same time so that some lucky buyers had a choice of where to purchase their home resort. I do see that OKW and BWV were both for sale at same time.

How about a history of the incentives offered. I mentioned that back in 1998 they had a buy back incentive going where they would give you monies back that you had just spent on your current WDW vacation. Anyone take advantage of that one? How did that one work? The biggest incentive, of course, were the free park passes. Just curious if the 1998 incentive was a better deal than the most recent $10/point buy back in Jan. when I purchased (of course I had to sell back my 1st year). Now incentive is $5. Has $10/point been the best?

Thanks for all the interesting history.

[WebmasterDoc]

When BWV opened, OKW was still available. OKW sold out, but then built 3 more buildings which were then available for sale. Both OKW and BWV sold out in Nov, 2000 and VWL began sales at that time (along with continued sales at VB and HH).

The park passes were the early sales incentive and was replaced by the "apply some or all of your current stay towards a DVC downpayment"- which was actually the original form of Magical Beginings. You still had to sell back your first year's points in exchange for the room you were staying in up to $2000 max. The program became the present form a short while later- where it has ranged from $5 to $15 per point for the 1st year's points.

The present $5 incentive at BCV does NOT involve selling back any points- it is either that option or the free room vouchers. HH and VB still offer the $10 per point MB buyback.

It is interesting to follow the progression of prices and incentives used by DVC over the last 10+ years!

Enjoy!

[newt1912]

I would be curious to see what has been the bottom line price per point that people have paid over the years for DVC points. I am sure it is rare that anyone pays the retail price per point with the incentives that Disney gives. Also, there is the cast member discount of 15% which is a great price reducer. With the CM discount and MB incentives, price per point goes back to early 1990's prices less incentives back then.

[TwirlerGirl]

We bought at OKW in 1997 at $57 per point (I think). No park tickets. No incentives. No buybacks. No Magical Beginnings of any kind. We did get lunch at Olivia's while they finished the paper work.
Oh well, I still love my DVC membership. See you in September!

Sandy B.

[Tinkrbell]

Does a cast member get 15% off AND the MB's offer?

Or just one of them?

Curious?

[fkj2]

If I recall correctly, Disney anticipated it would take 15 years to sell out OKW. Once they saw how quickly the points were being sold, they dropped the park pass admissions with purchase and it was never offered to BWV owners. However, Dis was committed to those who had bought in early but the incentive was designed to end with the end of your use year in 2000.

[AZKathy]

I was just saying to myself reading this thread...were we had when we bought in 1997? We were not offered any incentives, magical beginnings, etc. But guess we weren't after reading Twilergirl's post. Okay, I feel better now. (but we did not get lunch at Olivia's after signing!:( )

[Regina]

Aw Rich, you're not going to expect me to drag out the big green "book" are you?:(

My husband thought that it was a 210 minimum when we joined. I'll tell him that he owes you a pig's foot since he may be wrong.;)

[wayno]

PamOKW,

Your post mentioned plans for some new facility in Newport, CA. I guess those plans were scrapped, or at least changed, since I haven't heard anything about that. But was it supposed to be? Another DVC resort in Newport, CA? What happened to the plans, does anybody know?

Thanks,
Wayne

[GAIL HAYDEN]

Rich,
I purchased in Feb.92, the minimum was 230 points, I paid 51.00.
IMHO, one he** of a deal, especially with the free passes.

[GAIL HAYDEN]

newt,
Unless you are a cast member or avail yourself of the incentives, you pay the bottom line9with the exception of this new BCV incentive). There is no "dickering" with DVC.

[PamOKW]

Wayno -- I should have included the follow-up. Yes, they abandoned the plans for Newport, CA. I believe Marriott has purchased the property. For the foreseeable future, it looks like all DVC building will take place at WDW.

[MulanMom]

Purchased in Oct./Nov. of '93. The minimum points was 210. Can't remember the price per point! It seems to me the minimum pt. buy-in has been reduced over the years.

Sharon

[newt1912]

Originally posted by GAIL HAYDEN
Unless you are a cast member or avail yourself of the incentives, you pay the bottom line9with the exception of this new BCV incentive). There is no "dickering" with DVC.

Yes, I understand that. My curiosity of what was paid per point had to do with bottom line after DVC incentive or CM discount. For instance, retail was $75/point in Jan. with $10 MB incentive, so bottom line price was $65/point. I was just assuming that there had always been some sort of incentive from Disney but from reading the posts I see that some years there was no incentive at OKW. With early OKW buyers it is hard to figure out that bottom line price/point without doing lots of math to factor in those free passes over the years but it would be interesting to see if someone can do the math for themselves.

[Caskbill]

From Doc:
. When we purchased in June, 1993 it had been lowered to 210 (price was $56) , went to 190 and has been at 150 for several years now.

From MulanMom
Purchased in Oct./Nov. of '93. The minimum points was 210.

Interesting, because we purchased the first week of June, 1993 and the minimum then was definitely 190 points. We bought 200 (10 more than the minimum) simply because it was a 'round' number.

[JeffreyH]

You could buy pre-construction OKW for $48 per point. 11 years later, it's $70 per point for BCV (after incentive). Sounds like a big increase, but it averages just under 3.5%/year. Probably just above inflation.

Of course, in June it goes up again.....

[WebmasterDoc]

Interesting, because we purchased the first week of June, 1993 and the minimum then was definitely 190 points.

Hmmm. I don't know what to say, Caskbill. I just dug out my "green book" and the minimum is listed as 210 and we bought the first week in June, 1993.

Another of life's great mysteries! :confused:

[PamOKW]

In May 1993 the minimum was 210 and had only recently been reduced from 230.

[WDWsnooper]

We purchased the minimum 230 pts in Jan '92 at $51. At the time we thought "Who could miss?" Free passes until 2000 and if we paid 50% down, could pay off balance in 12 months at 0%. We put the car purchase thing on hold and secured some vacation time! We still congratulate ourselves on our decision.
snooper

[Caskbill]

as posted by Doc:
When we purchased in June, 1993 it had been lowered to 210 (price was $56) , went to 190 and has been at 150 for several years now.
and
Hmmm. I don't know what to say, Caskbill. I just dug out my "green book" and the minimum is listed as 210 and we bought the first week in June, 1993.
This is getting interesting Doc. I pulled my green book out too and looked at all my documents.

We purchased on Jun 2, 1993 while at Disney. We bought <b>200 </b>points for $11,500 (or $57.50/point). We put $2300 down, which is 20% (we put it on a credit card), and financed $9200. We used 40 points to stay two nights at OKW beginning the same day. Our documents show that left 160 points remaining for the year.

I don't have anything that had a printed listing that showed the minimum purchase requirement, but I do have the 'scratch' sheets we used, on Disney Logo paper, while working with our Sales Rep there in the old Commodore House. It had 190 points written on it in our Sales Rep's own handwriting. (Actually it said 190 and up). Also under banking and borrowing notes, it showed examples of banking 190 points, and borrowing 95 points to get up to 475 points in one year (190+190+95 = 475). That's back when you could only borrow 50% of your year's points.

Finally, in our document packet was this statement which I had to initial:

"You recognize and acknowledge that if your annual Vacation Point allocation is less than 210 points, your ability to exchange through RCI may be restricted, as described on page 6 of the Disney Vacation Club Membership Agreement in the POS."

Now it seems strange that they would have me initial that if the minimum purchase was 210 points.

Now, here's my take on this. I bet they changed it to 190 points right on Jun 1st, along with a price increase. (You said you paid $56/point). Therefore my guess is that you had been working with Disney prior to Jun 1st, and therefore still had the $56/point price and 210 point minimum. It may have been June when you signed the papers, but they probably still gave you what they first quoted.

Therefore I firmly believe that it was probably June 1, 1993 that it was changed to 190 points, and the printed sales documents hadn't been re-done yet.

<i>Actually too bad for me. :( A little sooner and I could have gotten 210 points at $56/point for $11760, or only $260 more than I paid. (That would have been like getting those last 10 points for only $26/point).</i> :D

A final note. It was interesting reviewing this as it all was so new at the time. One other paper I signed stated that if the purchase agreement, or credit application was not approved, I'd be liable for the two nights lodging at OKW (1-B/R at $230/night plus tax) and also that I would be charged theme park admission of $34/day each (2-people) plus tax for the two night stay. (That's because we got the free park passes.) Good thing I didn't change my mind, or it would have cost me about $580 for those two days. Ouch! :D (At about 2.5 percent inflation, that's about $725 today)

[Peter Johnson]

Originally posted by Tinkrbell
Does a cast member get 15% off AND the MB's offer?

Or just one of them?

Curious?

DW was a TDS CM when we added 200 OKW points in June 2000. We (well, she ;) ) got both the 15% off and $10/point MB for 100 points. :D

She became a CM because of the discounts and free park admission, but that add-on really made it worthwhile!

[PamOKW]

Brain cells are working.....when I bought in May 1993 I know they were in the midst of changing the minimum points away from needing to have enough for a one-bedroom all year. 190 sounds familiar as an option...maybe that's when they started the "with restrictions" line.

[MulanMom]

Normally, all my DVC stuff would be at my fingertips, but after a recent move, I haven't lucked into the right box yet!:D

Caskbill...actually it does make sense for DVC to have you initial the statement about RCI trading being compromised if you purchase below 210 points. Maybe at the time you bought in, the minimum buy-in amt. was lowered as an incentive or, perhaps it was a trial run to see if purchases would increase. My memory is really shaky on this, but before the minimum pt. requirement became consistently lower, I thought the minimum amt. did fluctuate between lower and higher numbers for a brief period of time.

Sharon