When will Riviera resales be available

[KAT4DISNEY]

I don't think all resale contracts have gone down in value.

Agreed. As I now seem to preach - at it's base DVC is about an equivalent room onsite for less than paying Disney cash for that room. There's been no switching where cash value is more (yet) in any of the onsite resorts which is why they are priced higher now than when initially sold. BCV is pushing that boundary.

 

[CookieandOatmeal]

One of the resale brokers just posted that they sold a DEC UY contract for Riviera for $130pp. I can't believe someone is selling already before the resort even opens! The broker even mentioned that the accepted offer is even lower than $130 after some negotiations. Craziness!

 

[texanlawyer]

One of the resale brokers just posted that they sold a DEC UY contract for Riviera for $130pp. I can't believe someone is selling already before the resort even opens! The broker even mentioned that the accepted offer is even lower than $130 after some negotiations. Craziness!

I just saw that on Facebook. If it hadn't already sold, I'd be tempted to throw in an offer. There is no way that makes it through ROFR though.

 

[KAT4DISNEY]

One of the resale brokers just posted that they sold a DEC UY contract for Riviera for $130pp. I can't believe someone is selling already before the resort even opens! The broker even mentioned that the accepted offer is even lower than $130 after some negotiations. Craziness!

It's sad but it's happened before and will again with people purchasing resorts that are a bit away from opening.

I just saw that on Facebook. If it hadn't already sold, I'd be tempted to throw in an offer. There is no way that makes it through ROFR though.

I'd not be certain about that. True that they might ROFR it I don't think I've ever seen DVC ROFR any of the early resale contracts. I don't know that I've ever seen one priced so differently from direct though either at this point. Usually there's a loan to pay off and the owners do attempt to get all their money back and the contracts sit around for quite awhile.

 

[crvetter]

One of the resale brokers just posted that they sold a DEC UY contract for Riviera for $130pp. I can't believe someone is selling already before the resort even opens! The broker even mentioned that the accepted offer is even lower than $130 after some negotiations. Craziness!

If they are really this low sometime next year I'll be avoiding Direct and buying resale. Just waiting to try the resort in February to see if I like it. Since I'm intending to buy for specifically staying there I have no incentive to do so at Direct if resale is this cheap.

Though resale at a resort not even open I could see being lower than when it opens. My guess is more risk adverse people won't want to buy Riviera until it opens especially given the resale restrictions. If it is a hit in terms of amenities and location I can see resale increasing in price because it would have "prove" itself as being desirable.

 

[Frederic Civish]

One of the resale brokers just posted that they sold a DEC UY contract for Riviera for $130pp. I can't believe someone is selling already before the resort even opens! The broker even mentioned that the accepted offer is even lower than $130 after some negotiations. Craziness!

I'm shocked! SHOCKED I tell you!

It is amazing to me that someone was willing to take such a large loss after buying it only a couple of months ago. They must have paid cash for it and needed money back quickly, since, if they still owed Disney for most of it, there is no way they would be selling at that price.

The price is kind of surprising to me. It is only a single point of data, so it surely doesn't yet show a trend, but you wonder why it was priced so low. Seems interesting. Kind of inline with some other DVC properties, but I feel like the best comparator property to Riviera might be Bay Lake Tower. Second choice for comparison might be Grand Floridian.

Bay Lake Tower is running from about $135 to $165 on the resale market, with the average price probably around $145. BLT expires in about 41 years.

Grand Floridian is running about $155 to $185, with the average price probably being around $165. Grand Floridian expires in about 45 years.

So, at $130 pp (or, apparently, even less) for Riviera, that means that it wasn't valued as high, at least on this initial contract. I wonder if that is the effect of the 'Riviera Resale Restrictions' (RRR) or if it is just chance. It might also be in keeping with a typical Resale discount price compared to Direct, that seems to run $45 to $65 off, so by that standard, $130 wouldn't be too surprising at all.

Did the owner panic and dump it at the first bite, rather than waiting a few weeks and testing out the market? I would have put a price out there of around $160 and waited to see if anyone nibbled. Of course, if they priced it too high, they would be closely competing with the 'Direct Price' and most buyers wouldn't be interested at that price, so maybe this does tell us something. It might also be possible that as Riviera Direct Prices rise, perhaps above $200 per point, maybe the resale prices will rise in a similar fashion.

I still feel like, since this is so new AND THE SUPPLY AT RESALE IS SO LOW, SOMEBODY would have been willing to pay a bit more than that. As more of them come on the market in the future, it might be hard to keep the price up.

 

[TexasChick123]

Who was the broker who sold it?

 

[crvetter]

Who was the broker who sold it?

Not sure if can be posted on here, so if the link shows up my understanding is it is allowed, *******.com. I think they used to be known as something else or the owner just started it.

 

[KAT4DISNEY]

Not sure if can be posted on here, so if the link shows up my understanding is it is allowed, *******.com. I think they used to be known as something else or the owner just started it.

I had not heard of the one yet but yes, she was a broker with a different place or else they've changed their name.

 

[Matty B13]

To me, $130 seems very high for a resale contract that is restricted to only that single resort, you would have to want to stay at that resort for the next 50 years....... And, if something happens and you can't make your reservation that you booked before the 7 month deadline, good luck getting something inside of 7 months.

Even with my VGF points, I don't always want to stay at VGF.

 

[KAT4DISNEY]

To me, $130 seems very high for a resale contract that is restricted to only that single resort, you would have to want to stay at that resort for the next 50 years....... And, if something happens and you can't make your reservation that you booked before the 7 month deadline, good luck getting something inside of 7 months.

I wonder if that was the selling price? It seems to have been the listing price.

 

[Matty B13]

I wonder if that was the selling price? It seems to have been the listing price.

Me too...... feel sorry for the person though that has to sell, seems to happen a lot.

 

[Wakey]

Another broker said today he expects Riviera to eventually settle at sub $100 . He may have a point, if the sole contract with all the excitement of a new resort cannot sell for $130, then in 2 years when there’s a lot of contracts, it will surely be lower? When the novelty of the new Riviera has gone and people want Reflections, will they be willing to pay more than SSR to be stuck in 1 resort? I doubt it,

 

[Wakey]

I wonder if that was the selling price? It seems to have been the listing price.

It sold quite a bit under that broker said, she is well known, this is a new reseller company but she has credibility as worked for others.

 

[crvetter]

Another broker said today he expects Riviera to eventually settle at sub $100 . He may have a point, if the sole contract with all the excitement of a new resort cannot sell for $130, then in 2 years when there’s a lot of contracts, it will surely be lower? When the novelty of the new Riviera has gone and people want Reflections, will they be willing to pay more than SSR to be stuck in 1 resort? I doubt it,

I'm not sold this meaning a bunch yet only because the resort isn't open. Any resale buyer would want a steep discount right now simply because they have no idea of the resort yet. Though if it does end up being a highly desirable resort I wouldn't expect sub-100.

It sold quite a bit under that broker said, she is well known, this is a new reseller company but she has credibility as worked for others.

I mean she isn't saying the real price it went for not sure if something bars her from saying the real number after already saying the seller accepted below ask. So I'm not sure what a bit under really is. It's highly subjective phrasing.

 

[PolyRob]

It was for 175 points too! Wow, just wow! $10,000ish loss?!

 

[Minniemoo15]

I saw the agent post that it sold for quite a bit less than the asking price of $130 but that she couldn’t disclose the price until the sale was completed . I’m so curious to know what it was!

 

[cruisin5]

Wow, I've never heard of that seller. Lots of contracts available, I did quite a bit of research before listing my contract. They never came up in my searching.

I was thinking of a BRV resale but could probably be happy with a Riviera only.

 

[PsycProfPlum]

In 50 years, there are going to be a lot more shiny new resorts out there. I can't imagine slugging back to the same one for that long with all of the others unavailable to me. I'd be shocked if the resale price (in a couple of years) was anywhere near the current direct price or even as high as some of the older resorts (BWV, BCV). I just can't imagine too much demand other than the small occasional second or third contract.

 

[Frederic Civish]

To me, $130 seems very high for a resale contract that is restricted to only that single resort, you would have to want to stay at that resort for the next 50 years....... And, if something happens and you can't make your reservation that you booked before the 7 month deadline, good luck getting something inside of 7 months.

Even with my VGF points, I don't always want to stay at VGF.

Here's the thing, I fully expect Riviera to not only be desirable and popular, but hard to get into. I know they are selling 300 units, but I do think that it will be comparable to BLT and VGF in quality and accessibility. The trouble is that even with 300 units being sold, once 10% or so of those have turned over on the Resale market, there will be a significant number of people tied ONLY into Riviera. Combine that with the desirability and I honestly think it is going to be one of the hardest to get into and hardest to book. The people who can't go anywhere else will cause a real snowball effect. The most popular units are going to be gone right at the 11 month window, year round. Most of the rest will be booked before the 7 month window, and at the 7 month window the rest of the units will probably disappear every morning by 8:30 AM.

So you will see two things: One is that Riviera will be quite popular on the Rental Market. People who want it but don't own will be renting it out, a lot. The Second thing is, I think you are going to see a kind of strange 'trade' activity where people will be 'trading' out of Riviera, by going to the market, since they can't do it through Disney. It will be a kind of a "Hey, I will schedule a vacation for you at Riviera, if you will use your points to schedule me at your home resort." This will only work if Riviera truly is as popular and desirable as I think, but you might see things where 2 Riviera points is worth 3 points somewhere else.

However, I think this will be unique to Riviera. I don't see the same thing happening with Reflections. First of all, it has a much less desirable location. South shore of Bay Lake isn't that much farther away than the south shore of Seven Seas Lagoon, but mentally, it seems significantly farther, especially since you can't see the Magic Kingdom from there. And even if they put in a gondola to it, that gondola will go to one resort, MK rather than two, like Riviera. Second, I just don't think it will be as 'high class' as they are trying to make Riviera. Third, there will be so many units there. I keep hearing 900 to 1700 units, including hotel rooms and DVC. Most likely they will have many more DVC units than the 300 at Riviera. So there will be less desire to trade into DVC units there and more units to fill the demand.

Maybe I am wrong, but with the Resale restrictions on Reflections, and the lack of pent up demand, it might also be significantly harder for Disney to sell their units there. I guess time will tell.