AP Story Wrong On DVC

[carlbarry]

This was published today in Long Island's Newsday. It's about getting rid of your timeshare. The writer lists some timeshares--and includes DVC--as those that re-sell for a fraction of their original purchase price. Correct about some, including Wyndham, but obviously wrong about DVC! I intend to write a letter to the editor.
https://www.newsday.com/travel/how-to-get-rid-of-a-timeshare-1.20361875

 

[disneynutz]

We have sold some contracts below what we paid, others what we paid and some above what we paid.

Bill

 

[DebbieB]

I bought BWV in 1999 @ $65 a point. If I lost it today for nothing, I got my monies worth. Good news is I could sell it right now for almost double.

 

[Ms.Minnie]

I have four contracts at BWV and paid the following: $65 for our 1st contract direct from Disney, $88 for our 2nd direct from Disney, $46 for our 3rd bought on the resale market and $117 for our 4th bought on the resale market. I'm pretty sure I would make money on the first three purchases if I were to sell today. As DebbieB said, "I got my monies worth". I love my DVC!

 

[CraigInPA]

I'm looking for those News Day readers who would be willing to sell their DVC memberships for less than 15% of their original price!

 

[carlbarry]

I'm looking for those News Day readers who would be willing to sell their DVC memberships for less than 15% of their original price!

Yeah, but then Disney's right of first refusal would kick in.

 

[CarolMN]

I bought BWV in 1999 @ $65 a point. If I lost it today for nothing, I got my monies worth. Good news is I could sell it right now for almost double.

Us, too!

 

[LYSE]

The media is wrong??? I'm shocked

 

[carlbarry]

The media is wrong??? I'm shocked

That's why legitimate news media have correction methods, unlike fake news media. Turning out thousands of words 24/7, no matter how careful, there are bound to be mistakes.

 

[Simba's Mom]

If I read it right,the article suggested that DVC could sell for 15% of what we paid? Considering that we paid $75/point, we'd sell for about $11/point (except for BCV, which was so "expensive" we'd have to get almost $20/point) Gee, I wonder how many seconds until we got offers!

 

[southerngirl528]

We have sold some contracts below what we paid, others what we paid and some above what we paid.

I think what the OP means by posting the article that is incorrect about DVC, is that virtually all TS sell on the secondary market for a TINY fraction of initial purchase. Even for DVC members that bought high, if they sold, it would be unlikely to have nearly the same decreased value as almost all other TS would have.

The media is wrong??? I'm shocked

 

[carlbarry]

I think what the OP means by posting the article that is incorrect about DVC, is that virtually all TS sell on the secondary market for a TINY fraction of initial purchase. Even for DVC members that bought high, if they sold, it would be unlikely to have nearly the same decreased value as almost all other TS would have.

Yes, that was my point---the article lists DVC as an example of a timeshare that re-sells for a fraction of the original price. The Wyndham example is spot on, as people can't even give them away. But it is wrong for DVC.

 

[Chuck S]

Well, 3/1 is a fraction Considering I paid $53 per point in 1992.

 

[Bing Showei]

Sooo... basically if they were to remove one word and a comma "Disney," from that article, it would actually be pretty accurate... hardly an indictment on "the media."

Or maybe the writer meant to write, "those not owned by Disney, but Marriott, Wyndham or Hilton, for example..." You know, dropping a "not" by accident. It's been known to happen.

 

[LYSE]

Sooo... basically if they were to remove one word and a comma "Disney," from that article, it would actually be pretty accurate... hardly an indictment on "the media."

Or maybe the writer meant to write, "those not owned by Disney, but Marriott, Wyndham or Hilton, for example..." You know, dropping a "not" by accident. It's been known to happen.

Lol yeah okay I'm sure that's what happened here.

The news gets stuff wrong all the time, many times by an honest mistake or not double checking facts, sometimes out of ignorance and sometimes out of bias I think we can all agree on this and if you don't then I strongly advise you to research statements you see made by the media more offten.

In this particular case they are quoting "Jeff Weir, chief correspondent for RedWeek" and if the quote is accurate then he made that error.

 

[southerngirl528]

Well, 3/1 is a fraction Considering I paid $53 per point in 1992.

Sooo... basically if they were to remove one word and a comma "Disney," from that article, it would actually be pretty accurate... hardly an indictment on "the media."

Or maybe the writer meant to write, "those not owned by Disney, but Marriott, Wyndham or Hilton, for example..." You know, dropping a "not" by accident. It's been known to happen.

I had to chuckle when I read your post as I immediately thought you MUST be involved in journalism, in whatever form, whether you or someone you love. Of COURSE, a small mistake can be made. But I think the issue brought up here is that GOOD journalism involves good proofreading and editing, so that an article does not say something very different than was intended.

The news gets stuff wrong all the time, many times by an honest mistake or not double checking facts, sometimes out of ignorance and sometimes out of bias I think we can all agree on this and if you don't then I strongly advise you to research statements you see made by the media more offten.

In this particular case they are quoting "Jeff Weir, chief correspondent for RedWeek" and if the quote is accurate then he made that error.

Agree.

 

[DebbieB]

Some people may have lost a significant amount on DVC. I am shocked that Aulani resales are going for $90 to $100. DVC is currently selling for $182. Aulani started at $114. So anyone selling is most likely taking a loss.

 

[Bing Showei]

In this particular case they are quoting "Jeff Weir, chief correspondent for RedWeek" and if the quote is accurate then he made that error.

Oh, I wouldn't let the writer off that easy. The quote from Weir may or may not be accurate to what he actually stated, but regardless, the erroneous part of the reporting was when they included Disney in their list of "timeshares at higher-end properties" that failed to hold value, which is largely untrue. This was a sloppy mistake for sure. But I have trouble dismissing the article in its entirety based on that one mistake.

Or maybe the writer meant to write, "those not owned by Disney, but Marriott, Wyndham or Hilton, for example..." You know, dropping a "not" by accident. It's been known to happen.

Lol yeah okay I'm sure that's what happened here.

I had to chuckle when I read your post as I immediately thought you MUST be involved in journalism, in whatever form, whether you or someone you love.

Hahaha! Negative. Not in Journalism, nor is anyone I know. Just a consumer. Please google "would vs. wouldn't Russia" and perhaps you'll see my comment above in a different light. Cheers.

 

[deerh]

I bought BWV in 1999 @ $65 a point. If I lost it today for nothing, I got my monies worth. Good news is I could sell it right now for almost double.

Us too!! Bought 100 BWV points more in 2003 for $83/point.. Got my $ worth on it and more. Could sell for a nice chunk of change now...!!!

 

[deerh]

This was published today in Long Island's Newsday. It's about getting rid of your timeshare. The writer lists some timeshares--and includes DVC--as those that re-sell for a fraction of their original purchase price. Correct about some, including Wyndham, but obviously wrong about DVC! I intend to write a letter to the editor.
https://www.newsday.com/travel/how-to-get-rid-of-a-timeshare-1.20361875

It is written by "Nerdwallet" and used in the newspaper article. You may want to write a letter to "Nerdwallet" as they were the original writers of the article, and not the newspaper... I have seen a lot of "Nerdwallet' articles, and a lot are stupid and misinformed info for consumers.