Resale Contracts totalling 6,855 points?!?

[csharpwv]

I receive the daily/weekly resales updates from several resale companies.

One of them today featured several contracts from the same owner (same number... with A,B,C etc listed)

Over the total number of contracts, the one owner was selling 6,855 points at ONE RESORT!

Different sellers are usually consecutively numbered, so it wasn't different sellers - I've been reading the resale postings long enough to know that.

Can you imagine owning 6,855 points?

My wife's first question was... Do they LIVE there?!?! HAHA

Just being curious, I calculated that owner's MF liability and it totaled nearly $49,000 a year!!!!!!

Then, being all the more curious - if those points were purchased at $80 per point which was about right I think for when the resort opened - the purchase price on that many points would have been nearly $550,000

We own at 4 resorts, and sometimes I look at our MF payments sometimes and think - GOOD HEAVENS! But then, when I saw this - I thought, eh, we don't have it so bad! HAHA

We still have to figure out if we have enough points for X,Y,Z at times - and fortunately the answer these days is yes - I usually don't even tell DW that I read the resale e-mails, she has already made threats LOL Especially after buying more points than what we needed/wanted through our last add on HAHA BUT, we haven't regretted it. The contract we bought was more than what we had set out looking for, but it is a good fit.

Anyway, I want to shake that person's hand! HAHA

Either they LOVED the resort, they shared a LOT with family and friends, or they used it for business purposes for employee incentives and such.

I hope no one thinks this posting is in poor taste, but I always wondered what a maximum was that one person owned. I know there is a maximum number of points in one contract - but had always been curious as to mega contracts.

Do you think owners like this are rare?

 

[bumbershoot]

Do you think owners like this are rare?

I don't know, but I also wouldn't be surprised if they were Dis'ers. So....

 

[slum808]

There was a guy on *********** for while that was buying up cheap resales to rent the points out. Last I saw he had close to 7000 points.

 

[WilsonFlyer]

Professional renter. Had to be. There are a few of them out there.

 

[Alexander]

I agree someone was in the rental business. Unlikely they paid $80/point though. Resales are much cheaper.

 

[Rob S.]

It appears that there are only 4 contracts (2@300 & 2@495). All the other listings are "bundled" options of all the combinations of the four.

 

[csharpwv]

It appears that there are only 4 contracts (2@300 & 2@495). All the other listings are "bundled" options of all the combinations of the four.

That definitely makes more sense!

The contracts all seemed to be very specific amounts, with the same numbers of points - so it didn't seem likely that they were resale contracts to the current owner selling them.

Even at the price posted, it seems like the asking price was a little high for such large contracts. Usually when you see contracts above 300 points they are selling for FAR below the market average - and while the sale price might seem low in comparison, I have seen much smaller contracts go for far less - and as usual, small contracts command a higher price - so it just didn't make sense to me!

As far as being a professional renter, I just don't think it would be easy to rent THAT many points out on a year basis - BUT the contracts were a little messy if you know what I mean - holding status points and such.

 

[dwelty]

There are a lot of wealthy people for whom this amount of money would not be a problem. Also if you rented a grand villa several times a year you could easily use up a large amount of points.

I have also heard from my guide that there are several small business owners who hold large contracts and use them as incentives for employees.