VGF contract so overpriced

[HappyCanadianGuy]

There’s no harm in offering below asking. They will either counter or say no! We got a great price for ours by following the prices on here (although not at this resort). It’s always worth trying.

I agree completely. But 20 dollars a point lower as she's asking is just a waste of everyone's time. They usually pass between 5 to 7 dollars a point.

that is so not true. If someone buys 150 points at VGF for $100 -- it changes absolutely NOTHING. There are literally millions of points for each resort -- 150 out of 1 million is nothing.

Not to mention -- no one will likely find out about what price the person paid for the points -- so it has a zero chance of affecting the public's value perception.

Yes -- people can go through all the filings on the OCC website and back calculate the price you paid -- but they won't know anything about closing costs/MF adjustments or if the contract was stripped...so figuring out the value of the contract purchased is vague. And the number of people that go through the trouble of doing that are not large enough to affect the overall pricing of the contracts.

Which would be fine if only one person wanted to do.it. But let's be real, everyone wants the VGF at the Vero Beach price.

 

[mustinjourney]

Which would be fine if only one person wanted to do.it. But let's be real, everyone wants the VGF at the Vero Beach price.

I am not following your logic on this one.

I agree completely. But 20 dollars a point lower as she's asking is just a waste of everyone's time. They usually pass between 5 to 7 dollars a point.

And people listing contracts at $200 a point are wasting everyone's time as well. I have personally gotten both of my VGF contracts at significant amounts under list price. One was $22 under listing and the other I got for $18 under listing. It all depends on whether it is a buyer's or seller's market.

 

[Bearval]

I agree completely. But 20 dollars a point lower as she's asking is just a waste of everyone's time. They usually pass between 5 to 7 dollars a point.


Which would be fine if only one person wanted to do.it. But let's be real, everyone wants the VGF at the Vero Beach price.

And if VGF started selling at Vero Beach prices then guess what? That is what it is now worth. An item whether it is property or an antique is only worth what someone is willing to pay for it

 

[Noodlez]

I agree completely. But 20 dollars a point lower as she's asking is just a waste of everyone's time. They usually pass between 5 to 7 dollars a point.

I wonder where you’re getting your statistics from. I know that I followed these boards a long time before my purchase. I knew what the offered and passing prices were on here. No one mentioned what the listed asking price was though. Have you found somewhere to see this?

They are not suggesting 20 below the usual price, just 20 below what they have seen. I offered quite a bit less than 7 dollars below asking but this isn’t recorded anywhere. I put all of the information on here but asking price wasn’t mentioned. I think going by actual sales figures seems to work quite well.

 

[BlackTea]

I am not following your logic on this one.



And people listing contracts at $200 a point are wasting everyone's time as well. I have personally gotten both of my VGF contracts at significant amounts under list price. One was $22 under listing and the other I got for $18 under listing. It all depends on whether it is a buyer's or seller's market.

That is really helpful to know!! I had thought offering anything $10 below is a little bit insulting...but on the other hand, when some sellers list their stripped contracts close to 200, it is also a little bit insulting...to buyers? I also felt the price was intentionally hyped up, at least for VGF, most recently using that walkway...eventually reached one level not sustainable.....

 

[mustinjourney]

That is really helpful to know!! I had thought offering anything $10 below is a little bit insulting...but on the other hand, when some sellers list their stripped contracts close to 200, it is also a little bit insulting...to buyers? I also felt the price was intentionally hyped up, at least for VGF, most recently using that walkway...eventually reached one level not sustainable.....

even if it is insulting -- so what? It's not like they're going to punch you in the face. My advice is to look at the ROFR board and see what the prices are for the sold contracts and try to normalize them based on banked points and contract size. Once you have that information, you can make your offer and just say, based on my research, this is the fair market value of these points.

 

[Noodlez]

It’s definitely not insulting. It’s a suggestion, and a starting price. Everyone is different, but I would offer the same amount below as I thought they were asking above, expecting to settle in the middle. If they refuse to counter then you have a better idea for next time.

 

[HappyCanadianGuy]

I am not following your logic on this one.



And people listing contracts at $200 a point are wasting everyone's time as well. I have personally gotten both of my VGF contracts at significant amounts under list price. One was $22 under listing and the other I got for $18 under listing. It all depends on whether it is a buyer's or seller's market.

It depends on the size of the contracts. 50pt are at 200 now.

 

[Sandisw]

It depends on the size of the contracts. 50pt are at 200 now.

They are listed for that, or you’ve seen that someone paid that? Big difference.

Like others have said, buying resale is always negotiable, so a buyer should feel very comfortable offering what they feel is a fair price for them, and sellers should feel free to decline any offer,

 

[HappyCanadianGuy]

They are listed for that, or you’ve seen that someone paid that? Big difference.

Like others have said, buying resale is always negotiable, so a buyer should feel very comfortable offering what they feel is a fair price for them, and sellers should feel free to decline any offer,

Good talking to you. Have a magical day!

 

[SG131]

According to DVC resale market’s buyback report from October (November should be out in a few days), the highest contract Disney bought back was at $156 per point. On the ROFR thread for this quarter we have had two data points one at $155 for a 100 point contract and one at $169 for 200 points. So there is some data to support offering a lower price.

 

[KAT4DISNEY]

It depends on the size of the contracts. 50pt are at 200 now.

In this past year VGF was $155/pt and less. I had an offer accepted for that and yes, it actually was exactly $20/pt less than asking just 5 or 6 months ago. That people started asking much more and a handful sold does not mean that the price is actually what many value it at. Buyers and sellers have to come to a mutally agreeable price.

 

[Spark65]

I don't think anything DVC is over priced it's market priced. Too many people here will agree with you that is of course unless they are selling one of their allocations then their story changes. DVC has created the vacuum everyone wants a timeshare with value but wait a minute the same posters don't want to pay for it ... it really is comical.

 

[CaliAdventurer]

VGF sold at about $165 so most are in for that much. If you offer $160-65 they got to use their contracts for 5 years for only dues. Sounds good to me.
That logic doesn’t work at say, VGC- you pay what you have to pay if you want it bad enough.

 

[Soap_1984]

While it is annoying to say, dvc isn't an investment and you should try and get it for what you believe it is worth for you.

If someone offered it to you for $30 per point I can't imagine you saying no because it is going to devalue the resort; this is especially true given that your payback period would be a few years and you would only own it because the low value made it affordable. If someone said there is a 100 point vgf contract out there for $70 per point I would go buy it even if I was told the resale price would never go above $70 again.

 

[mustinjourney]

VGF sold at about $165 so most are in for that much. If you offer $160-65 they got to use their contracts for 5 years for only dues. Sounds good to me.
That logic doesn’t work at say, VGC- you pay what you have to pay if you want it bad enough.

VGF was initially $145 in may 2013

 

[CraigInPA]

You have zero chance of getting a VGG contract with asking 20 dollars a point under asking. You're just wasting everyone's time.

If I was selling, and my listing was on for months with *no* activity, I would look at a $20 under asking price offer as an opportunity to open negotiations, not a waste of my time.

 

[Soap_1984]

If I was selling, and my listing was on for months with *no* activity, I would look at a $20 under asking price offer as an opportunity to open negotiations, not a waste of my time.

I agree $20 off a contract listed for $200 isn't the same as $20 off a contract priced at $100. As a general idea I would hope to get within 10% of my asking price and I'd totally shoot a counter offer, especially if my contract had been sitting there. Remember at this point dues for 2020 are coming and depending on use year you may not get full value for points loaded into a contract.

To me it isn't obvious that a 10% discount is a total waste of time. It's the same as looking at a 120 contract and offering $108.

 

[chicagodisneyguy]

Fidelity currently has 3 VGF contracts that are sale pending @ $148/pt. They are 100, 160, and 230 point contracts. Both have all 2019 & 2020 points and one has all 2020 points. Who knows, maybe there was a bidding war and actually sold for more. But I know if I was in the market for GFV points I'm not bidding $5 to $7 less that $180.

 

[miTnosnhoJ]

Market knowledge is key. When I bought some VGF resale points, I looked at the ROFR thread and I looked at the Orange County Controllers site for the past few months. I offered about 10% below asking price, but I was confident that my offer was inline with recent market pricing. They accepted it. I had also been following it for several months, and I know that they might be open to an offer where someone with a new listing might not.