Riviera Resale-Wow?

[WilsonFlyer]

OK. So I've gotta ask.

It appears that Riviera resales are being closed at around the $145/point bar. Somebody help me out. I would have bet a stupid amount of money that you basically couldn't have given these points away for just the annual dues. What am I missing here?

When somebody could buy Copper Creek (just as an example) for the same or les money, why in the world would anybody spend that kind of money with those kinds of lifetime restrictions? Do the buyers just not know? If they don't, I don't know whether to feel sorry for them, or to laugh at them

 

[Spark65]

I see them offered at 145 do you have completed sales number to provide they go for asking?

 

[dvc lover 1970]

I think as more contracts come on the market the price will decrease. Also what they ask and what they get are always separate factors. If small contracts they may retain some value

 

[Brett Wyman]

Could be someone: 1. With a lack of understanding of the restriction policies. 2. That just loves Riviera so much they are okay with making it their home resort at a discount or 3. Playing the odds hoping the restrictions are lifted and they got it for a steal.

 

[DVCsloth]

The incentives are still pretty decent for direct so I wouldn't by resale at Riviera just yet unless I was looking for a large contract at a pretty substantial savings. I stayed there last month on some of my GFV points and actually wouldn't mind picking up a small add on there direct. Probably not going to do it at this time but if I were looking I would not have an issue buying there direct. Beautiful resort and I like the Sky liner.

 

[Sandisw]

Honestly, I think people like the resort and are willing to buy it even with restrictions, They do know because brokers disclose that information to them.

I am surprised by the price as well, but I do wonder if many of the buyers are current owners who have other points

I said this in the other thread that I know plenty of people who stay at the same WDW resort all the time who are not DVC.

I definitely think things will level out in the next year or so if And when more sell, but so far, it’s performing much better than people thought,

While I have not yet stayed, I did tour the grounds and love it. It is now one of my top resorts which never thought I’d say.

 

[BruinEd03]

OK. So I've gotta ask.

It appears that Riviera resales are being closed at around the $145/point bar. Somebody help me out. I would have bet a stupid amount of money that you basically couldn't have given these points away for just the annual dues. What am I missing here?

When somebody could buy Copper Creek (just as an example) for the same or les money, why in the world would anybody spend that kind of money with those kinds of lifetime restrictions? Do the buyers just not know? If they don't, I don't know whether to feel sorry for them, or to laugh at them

My best guess is that these are add-ons with people already own at Riviera or who have multiple resort contracts, stayed at Rivieria, and want to use it only to stay at Riviera. It is still cheaper than buying direct from DVC. I don't think these are your average new DVC owners. If you think about it, it is similar to people who buy BWV resale. They already own elsewhere, but have a specific use for the points for Food and Wine festival.

Also, keep in mind the market for Resale at Riviera is not really up and running. When there are only a handful of contracts that are appearing for sale (e.g., there are few people selling), it favors the supply (sellers). The more telling sign will be 1-2 years from now when there are much more people who are selling Riviera.

 

[WilsonFlyer]

I see them offered at 145 do you have completed sales number to provide they go for asking?

I saw several at a site I totally trust today with "sale pending," so no, I don't know, but I have to assume they are at least close since that was the last asking price listed. This is like hand grenades. These things shouldn't be going for anywhere near that price, at least not in my opinion. That's what I'm trying to understand.

 

[Spark65]

I saw several at a site I totally trust today with "sale pending," so no, I don't know, but I have to assume they are at least close since that was the last asking price listed. This is like hand grenades. These things shouldn't be going for anywhere near that price, at least not in my opinion. That's what I'm trying to understand.

Since "Horseshoes and hand grenades when close isn't good enough" is a common phrase
I think your analogy falls short. The resort will sell for what people are willing to pay for it and you may never get an opportunity because of that opinion. That means since you feel it's overpriced and others don't you will either not get to buy in or you will eventually succumb to the market.

People up here are still in bidding wars for houses, why I don't know, but they are. I can say that even though I bought my house many years ago for more than I what I felt it was worth I did because the market forced me too.

 

[Sandisw]

https://www.disboards.com/threads/riviera-resale.3811755/post-62384935
This has the actual selling prices for what has been recorded so far. So, it appears there are buyers who are not bothered by the restrictions,

I was once and changed my mind because I like the resort. I will add on in a few years more points and can see it being RIV to add to what I already own.

 

[Spark65]

https://www.disboards.com/threads/riviera-resale.3811755/post-62384935
This has the actual selling prices for what has been recorded so far. So, it appears there are buyers who are not bothered by the restrictions,

I was once and changed my mind because I like the resort. I will add on in a few years more points and can see it being RIV to add to what I already own.

Not enough sales to determine an actual resale value as the monies seem to be across the board but I'm liking what I see!

 

[WilsonFlyer]

The resort will sell for what people are willing to pay for it and you may never get an opportunity because of that opinion. That means since you feel it's overpriced and others don't you will either not get to buy in or you will eventually succumb to the market.

Just so we're perfectly clear, I would never buy Riviera. I'm not sure where that train of thought came from, but is totally off the rails.

 

[Spark65]

Just so we're perfectly clear, I would never buy Riviera. I'm not sure where that train of thought came from, but is totally off the rails.

You started the discussion about RIV resale if you never had an inkling to buy why would you start a thread about it?

 

[Sandisw]

Not enough sales to determine an actual resale value as the monies seem to be across the board but I'm liking what I see!

I agree it is a small sample but based on what most of us thought back when sales first started and restrictions announced, these are higher than many of us predicated,

Now, I do think in a few years when we have more it will settle lower, but i no longer think it will be as low as I once thought.

 

[DVCsloth]

I agree it is a small sample but based on what most of us thought back when sales first started and restrictions announced, these are higher than many of us predicated,

Now, I do think in a few years when we have more it will settle lower, but i no longer think it will be as low as I once thought.

I think it will hold up pretty good. It's a really nice resort and as long as the economy doesn't crash Epcot and H.S. will continue to improve and attract more people. You will need to own there, especially to get a standard room.

 

[we"reofftoneverland]

Fools will buy anything. Lol

But really, I suspect a contract listed for $145 actually sells for $125. The fact that it says sale pending and still has original list price is irrelevant. I’ve paid well below list price and the listing does not account for that while pending.

 

[Heather07438]

$145 only surprises me because iirc the last round of direct incentives around $150 for 200 points, not far off.

It wouldn't surprise me to see RR retain a relatively high resale price since it has the longest contract left and is a beautiful resort with good access to HS & EP. I've seen posts that thought the restrictions might cause it to level off in the bottom half of the resale pack but that doesn't look likely.

 

[davidl81]

Fools will buy anything. Lol

But really, I suspect a contract listed for $145 actually sells for $125. The fact that it says sale pending and still has original list price is irrelevant. I’ve paid well below list price and the listing does not account for that while pending.

IDK if I would call someone a fool for buying RIV resale at $145 or maybe less. If a non member buys RIV direct right now I think the cost is roughly $175 a point depending on contract size. So if a person loves RIV and only wants to stay there (thus no concern for the restrictions) then why are they a fool for saving $30 a point versus buying direct? What's valuable to you may not be so valuable to someone else.

 

[davidl81]

$145 only surprises me because iirc the last round of direct incentives around $150 for 200 points, not far off.

It wouldn't surprise me to see RR retain a relatively high resale price since it has the longest contract left and is a beautiful resort with good access to HS & EP. I've seen posts that thought the restrictions might cause it to level off in the bottom half of the resale pack but that doesn't look likely.

I think direct prices for 200 points are about 175 right now.

 

[we"reofftoneverland]

IDK if I would call someone a fool for buying RIV resale at $145 or maybe less. If a non member buys RIV direct right now I think the cost is roughly $175 a point depending on contract size. So if a person loves RIV and only wants to stay there (thus no concern for the restrictions) then why are they a fool for saving $30 a point versus buying direct? What's valuable to you may not be so valuable to someone else.

It was a joke