DVC Charitable Auction

[nickspace]

We are considering donating a 5 weeknight stay at HH in a Studio for a charitable auction. The winner would be able to choose one of the first two weeks in December. It will cost us 30 points so it would be a good value for us. I was wondering how much anyone thinks something like that would earn and if people think it is a good idea.

 

[Brian Noble]

Remember that this is not deductible for you---you generally may not deduct the *use* of a timeshare property, only its complete disposition. More details here:

http://www.tug2.net/timeshare_advice/TUG_Taxes_and_Timeshares.html

 

[Dean]

We are considering donating a 5 weeknight stay at HH in a Studio for a charitable auction. The winner would be able to choose one of the first two weeks in December. It will cost us 30 points so it would be a good value for us. I was wondering how much anyone thinks something like that would earn and if people think it is a good idea.

It's a good idea if you value the charity. What it will ear is too variable to guess. Hopefully at least $300. What I do when I donate my condo or timeshare is I bid on it up to a certain level OR I insist on a minimum bid. Often you can get the charity to let you have it back if it doesn't sell and then you could donate money instead. I'm sure you realize you can't take a tax deduction if you donate a DVC reservation or points. BTW, I'd suggest you make the reservation rather than subject to availability, removes much of the hassles and aggravations. Remember that while it may have been a charitable sacrifice on your part, the other party will have paid for it and often overpaid. This often creates unreasonable expectations.

 

[com_op_2000]

What I did:
Book the reservations in your name so that the dates are set.
Talk with the auctioneer and describe what is included.
Ensure it is stated that no changes are allowed.
All you need from the auctioneer is the name and address of the winner so that you can update MS and send the winner his reservation confirmation.

If you allow the winner to choose the dates you are opening yourself up to them wanting/needing to change the reservation and there may not be any availablity.

 

[Dean]

What I did:
Book the reservations in your name so that the dates are set.
Talk with the auctioneer and describe what is included.
Ensure it is stated that no changes are allowed.
All you need from the auctioneer is the name and address of the winner so that you can update MS and send the winner his reservation confirmation.

If you allow the winner to choose the dates you are opening yourself up to them wanting/needing to change the reservation and there may not be any availablity.

They are going to need the names, address and phone of all guests and the age of any kids.

 

[nickspace]

I was thinking to reserve both weeks ahead of time and then drop the week they didn't want.

 

[chepic]

We have donated points at OKW a few times for a charity here at home. Each time it fetched close to $1000.00 for a 1 week stay in a studio anytime but Christmas/Easter. We used no more than 100 points each time and the winners were all very happy.

I had to book their reservations.

It was a wonderful way to use our extra points and help out a great charity.

Cheryl

 

[Dean]

I was thinking to reserve both weeks ahead of time and then drop the week they didn't want.

An option that works in this situation and many others.

 

[com_op_2000]

They are going to need the names, address and phone of all guests and the age of any kids.

I did mine back in '98, before they required as much information as now.

 

[cj9200]

I have donated points and had points donated to organizations I worked for. While it is not tax deductible for the donor, it can be for the bidder. Anything paid above the "fair market value" for the item is deductible. There are a couple of ways to set that "value" amount. You can set it at the number of points used and what they would cost to rent. Or at the high end you calculate a reasonable rack rate price for the days you were giving away. Which to use would depend on the audience.

You can also make the gift with restrictions such as your either/or date and a minimum amount bid in order for it to be sold. If it does not reach that price you could donate it for the charity to use another time (which could be a problem on your end) or take it back. Just make sure the charity is aware of and agrees to your terms. I am sure they will make the process easy and be grateful for such a generous gift.

Usual caveats apply: This of course is if the charity has tax deductible status (usually a 501 c3) and with anything tax related the donee should talk to their tax professional....