How much less would you offer on a stripped contract?

I see your point and clearly there are a lot of ways to look at the pricing of points. One thing to consider, however, is that if you buy a contract with previous year's points, you can rent out those points for an average of $10 each. Usually in these cases the mf for past years are not reimbursed whereas current year mf usually are. So (assuming a BWV contract) the 2011 points have an average value of $10 each and the 2012 points have an average value of about $4.38 [$10 rental - $5.62 mf]. That's not using the pricing metric that is used to calculate long term cost of points, it's simply taking into consideration their cash value.

So by that logic, it would stand to reason that if a sample contract at BWV that had 100 2011 points and 100 2012 points were priced at $60 pp, you could rent out all of those points and have a net cost of $45.62 [$60 out of pocket cost + 2012 mf - $20 in rental income from 2011 and 2012 points].


By that logic, a comparable stripped contract (no 2011 or 2012 points) should be priced at $45.62 (assuming mf for 2012 are not reimbursed). From what I've seen, stripped contract listings do not adhere to this logic and are, therefore, a lesser value than buying a loaded contract.

This is the exact same logic I use when looking for a contract. I always value loaded and banked points at $10/point. I only buy loaded contracts. Stripped contracts are nearly always over priced. This of course assumes you don't mind renting out those extra points.
 
IMO, subtracting $10 pp is unrealistic when figuring the price of a stripped contract. Using round numbers, a point costs $100 and can be used 50 times. That's about $2 per point, per year. That would be a starting point for me. I think the reality may be a bit more than that, but I read earlier $18?? That seems way too much.
Now, I am disregarding the issue of fees on those points, as the buyer should only pay for fees on the points they can use.

MG
You're comparing a stripped to a non stripped contract. If you had the non stripped contract you could rent the points for $10 pp or more, likely more. No real work or risk involved it you do it correctly. You do have to be careful you're not doubling up on the adjustment by counting off for the points and the maint fees separately for the same time period.

Than again, if you are not willing to pay a fair price, you may never buy a contract. Of course you could get lucky and find someone in a bad situation (if you can call that lucky..).
We had a low ball offer for one of our contracts and I just chuckled. First, nobody in their right mind would have accepted their offer, and if they did it likely would not make it through rofr.
Getting a good deal is great, but you must be reasonable.

MG
I have a friend who just bought BWV for $38 a point and there is no requirement to be reasonable but also no requirement for you to sell at a price less than you feel you can. I know when I bought my BWV contract, I was $4 pp under what the ROFR price was at the time and enough so that one of the brokers actually contacted DVC to see how come they let it go through a that price. However, the actual price for a contract is irrelevant in this situation, only the price difference between contracts of different situations.
 
I went with a loaded contract and got a great deal i think it is how bad a seller wants it gone.
 

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