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

[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.....

 

[RobDoc]

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!

 

[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>

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! (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.

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!

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