buying from ebay

[cookincheri Junior Member Find all posts View Profile Close cookincheri]

Can someone give me some tips on buying a timeshare from ebay? Are the auctions any good and are there any sellers to stay away from?

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

You can find a deal on Ebay and there are some things to watch out for. You need to do due diligence before buying and not rely on what the ad states. Some of us stay away from the post card company resellers, who insist on closing with a high cost closing company (I'm willing to bet there's a kickback or ownership involved). Once everybody gets over Easter dinner, there will probably be more information posted.

[bjones9942 Senior Member Find all posts View Profile Close bjones9942]

I just bought one (see my 'am I insane' thread) and these were the things I was on the lookout for:

1. Pick the location first, then the timeshare. Don't settle for something you don't want.
2. If you want a particular week, wait for an auction to come up. Don't settle for something you don't want.
3. If you want a particular resort, again - wait for an auction to come up. Don't settle for something you don't want.
4. Make sure all the fees are listed - many don't even show the annual maintenance fee (or bury it in the description). Most auctions require you to re-imburse the current year maintenance fee. Some have closing costs/transfer fees. Many do not charge closing/transfer fees.
5. Find out if this is an 'All Inclusive' resort (extra $$ per night for food/drinks). You might be ok with this even if it is AI.
6. Be cautious - don't bid without doing a lot of research. Google the resort and read all the info/reviews.
7. Check the seller's feedback. Pass on his/her/their auctions if they have lots of negatives.
8. Many auctions say closing takes up to 16 weeks. Plan on it. Be happy if it's quicker.
9. If the listing says you need to send a written request to the seller to have them book a 'guest' reservation (before the contract transfers) for you - then do it. Don't email. Don't call. Send it in writing.
10. Many auctions don't sell and are re-listed - so, again, take your time.
11. If it's a floating week, find out how you reserve the one you want - and what happens if it's not available.
12. Check sample airfares for the time you're thinking of going. Check other times of the year as well (airfare might be cheaper a month before/after your ideal time).
13. Find out if the unit is fixed or floating if that might make a difference to you.
14. If you think you might want to join RCI or II find out if your resort is listed, and if so what kind of transfer power you'd have. I'm still trying to figure this one out!
15. Discuss the purchase with friends/family BEFORE you bid. My maintenance fees are going to be pretty low, but I confirmed with my sister that she'd go if I can't. No use paying if it's going to sit empty.
16. Check the weather conditions for the time you'd like to be there. If you can't take the heat, stay out of the proverbial oven! (same for cold, wind, rain, snow, ....).
17. If you can find some old 'for sale' posts of units in the same resort, compare what the maintenance fees were then to what they are now. Assume they will go up over time.
18. Bid on something that has a contract expiration within a reasonable time. Mine was a 13 year contract, which I was comfortable with. You might want to go for 5. If the resort isn't to your liking and it's a dud with RCI, then you don't want to carry it for a long time.
19. Calculate what you think an average maintenance fee would be over the life of the contract, then figure out the total cost. Think long and hard about this one. Are you ok with the total? Can you fit this in a budget? What happens if you lose your job or the market crashes and your retirement funds get zapped?
20. Compare the contract they send you at the end of the auction to the auction listing. Back out of the transaction if the contract reads differently. Or at the least, contact the seller and have them resolve. I'd back out. Just me.
21. Take your time. Do the research.
22. Take your time. Do the research.
23. Take your time. Do the research.

Ok. That's just what I did. Frankly, I had a lot of fun doing it - except when the auction I finally bid on *did* expire once, but it was quickly re-listed.

Another factor, as mentioned, is the type of companies that sell on eBay. They call them PCC's here (post card companies). I have mixed feelings; but I think, and not just because I bought from one, that the previous owners most likely wanted a fast and easy way out of their contract and didn't care about the fee they were charged. Otherwise, they most certainly would have done a little research and listed the unit on eBay themselves. Sometimes what seems a big waste of money to some (myself included) is just paying for a headache free transaction to others.

Now I think I'll let other people respond to your question! Let's keep each other informed as to what transpires with our respective eBay experiences!

Brett

[cookincheri Junior Member Find all posts View Profile Close cookincheri]

Buying on ebay

Thank you for the information. It is very helpful. I plan to stick with the Marriot timeshares. I have a few that I have researched. I have been waiting for the weeks that are of interest to me and the location! If the price seems good I might entertain the buy right now feature.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

One of our members/moderators has been tracking Marriott sales - this will give u a ball park figure of what to expect to pay.
'To be honest, prices will be even LOWER on eBay then what is seen in this list.
http://www.timeshareforums.com/forum...wo-months.html

And if u r going for a Marriott - do yourself a favor and buy Platinum season - the best time to use the TS and the best trading season..

[StressCadet Senior Member Find all posts View Profile Close StressCadet]

I just bought one (see my 'am I insane' thread) and these were the things I was on the lookout for:

1. Pick the location first, then the timeshare. Don't settle for something you don't want.
2. If you want a particular week, wait for an auction to come up. Don't settle for something you don't want.
3. If you want a particular resort, again - wait for an auction to come up. Don't settle for something you don't want.
4. Make sure all the fees are listed - many don't even show the annual maintenance fee (or bury it in the description). Most auctions require you to re-imburse the current year maintenance fee. Some have closing costs/transfer fees. Many do not charge closing/transfer fees.
5. Find out if this is an 'All Inclusive' resort (extra $$ per night for food/drinks). You might be ok with this even if it is AI.
6. Be cautious - don't bid without doing a lot of research. Google the resort and read all the info/reviews.
7. Check the seller's feedback. Pass on his/her/their auctions if they have lots of negatives.
8. Many auctions say closing takes up to 16 weeks. Plan on it. Be happy if it's quicker.
9. If the listing says you need to send a written request to the seller to have them book a 'guest' reservation (before the contract transfers) for you - then do it. Don't email. Don't call. Send it in writing.
10. Many auctions don't sell and are re-listed - so, again, take your time.
11. If it's a floating week, find out how you reserve the one you want - and what happens if it's not available.
12. Check sample airfares for the time you're thinking of going. Check other times of the year as well (airfare might be cheaper a month before/after your ideal time).
13. Find out if the unit is fixed or floating if that might make a difference to you.
14. If you think you might want to join RCI or II find out if your resort is listed, and if so what kind of transfer power you'd have. I'm still trying to figure this one out!
15. Discuss the purchase with friends/family BEFORE you bid. My maintenance fees are going to be pretty low, but I confirmed with my sister that she'd go if I can't. No use paying if it's going to sit empty.
16. Check the weather conditions for the time you'd like to be there. If you can't take the heat, stay out of the proverbial oven! (same for cold, wind, rain, snow, ....).
17. If you can find some old 'for sale' posts of units in the same resort, compare what the maintenance fees were then to what they are now. Assume they will go up over time.
18. Bid on something that has a contract expiration within a reasonable time. Mine was a 13 year contract, which I was comfortable with. You might want to go for 5. If the resort isn't to your liking and it's a dud with RCI, then you don't want to carry it for a long time.
19. Calculate what you think an average maintenance fee would be over the life of the contract, then figure out the total cost. Think long and hard about this one. Are you ok with the total? Can you fit this in a budget? What happens if you lose your job or the market crashes and your retirement funds get zapped?
20. Compare the contract they send you at the end of the auction to the auction listing. Back out of the transaction if the contract reads differently. Or at the least, contact the seller and have them resolve. I'd back out. Just me.
21. Take your time. Do the research.
22. Take your time. Do the research.
23. Take your time. Do the research.

Ok. That's just what I did. Frankly, I had a lot of fun doing it - except when the auction I finally bid on *did* expire once, but it was quickly re-listed.

Another factor, as mentioned, is the type of companies that sell on eBay. They call them PCC's here (post card companies). I have mixed feelings; but I think, and not just because I bought from one, that the previous owners most likely wanted a fast and easy way out of their contract and didn't care about the fee they were charged. Otherwise, they most certainly would have done a little research and listed the unit on eBay themselves. Sometimes what seems a big waste of money to some (myself included) is just paying for a headache free transaction to others.

Now I think I'll let other people respond to your question! Let's keep each other informed as to what transpires with our respective eBay experiences!

Brett

This from a "newbie" I am seriously impressed. This should be a sticky. Well done. Enjoy your purchase!

(where is a clapping icon when I need one?)

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Stressy - how about this .....

Or this.....

[falmouth3 Senior Member Find all posts View Profile Close falmouth3]

One thing that seems to confuse and annoy people who aren't familiar with the auction process is that many bids seem to come in during the last few minutes. Many of us use a "sniping" program (one site is snipe.com) which places bids within the last few seconds. Some of us believe that this actually keeps the prices lower because the excitment caused by the price going up step by step may get people to bid more on an auction is eliminated. It also keeps people from seeing that there is interest in a particular property or item.

The way it works is, you enter your maximum bid into the program. If you bid, say, $105 and the next highest bid is $101, you win. You may even win at $102. However, if someone else has bid at $110, they will probably win at $106. Or if they bid $1000, they would still win at $106 so don't feel like you lost by only $1. And, keep in mind, another listing will come up for you to bid on again.

Good luck!

Sue

[bjones9942 Senior Member Find all posts View Profile Close bjones9942]

Thanks for the comments on my post StressCadet and Grayfal!

One thing that seems to confuse and annoy people who aren't familiar with the auction process is that many bids seem to come in during the last few minutes. Many of us use a "sniping" program (one site is snipe.com) which places bids within the last few seconds. Some of us believe that this actually keeps the prices lower because the excitment caused by the price going up step by step may get people to bid more on an auction is eliminated. It also keeps people from seeing that there is interest in a particular property or item.

The way it works is, you enter your maximum bid into the program. If you bid, say, $105 and the next highest bid is $101, you win. You may even win at $102. However, if someone else has bid at $110, they will probably win at $106. Or if they bid $1000, they would still win at $106 so don't feel like you lost by only $1. And, keep in mind, another listing will come up for you to bid on again.

Good luck!

Sue

Sue - I use 'bidnip.com' for my sniping! They charge .25 cents per win, and have never ever placed a late bid (or missed one entirely). Thinking of it, they've never placed an early bid either - which the notorious 'auction sniper' does with regularity.

[cookincheri Junior Member Find all posts View Profile Close cookincheri]

buying on ebay

Once again, thanks to all for the information. Two more questions though- what is the difference between platinum vs. floating vs. gold seasons. And there are many Marriott timeshares in Orlando. Which one is "good"? Oh! 2 bedroom lock out- hard to come by?