Here is an example, the
point chart for 4-night cruises to the Bahamas:
https://secure.cdn3.wdpromedia.com/...2017-DVC-DCL-4-N-Phase-3-Pt-Chts-04-29-16.pdf
The
point charts are available on the DVC website without having to be logged in, so anyone can check them.
You can see that the cheapest room on the Dream is 110 points per person. Considering that the friends most likely pay around 5 to 6 $ per point per year in maintenance fee, this would mean at least 550 to 660$ per person for the least expensive cruise on the Dream. However, current prices for renting out points are around 12 to 13 $ per point. That would bring it up to 1320 to 1430 $ per person.
Depending on what price the friends would be willing to rent and depending on current pricing on the cruise, using DVC points makes more or less sense. In most cases it does not make sense if you look at what the normal rate for renting is. However, some people will only be comfortable to rent points to people they know, so for them the normal market price is only hypothetical.
If you consider renting points, it would make more sense to use your friends' points at a DVC resort for a pre- or post-cruise stay.
I have read in the past that there is some way to do an onboard booking with points, but I am sure that this would only work in a situation where the member is cruising. I think what was mentioned is that if you book a cruise on points within a week after returning from a cruise, there's some kind of benefit, but not sure what it was.
There are no DVC points placeholders though. You don't pay the cruise with DVC points. The way it works is that DVC acts as a
travel agency that purchases the cruise from
DCL and then sells it on to you in exchange for the points. And since DVC sets the price for how much your points are worth in a far less generous way than what the general market sees them, you are getting a bad deal.