eBay 24Oct07 in a matter of about 15minutes the world has changed

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

We need to have lunch, I'm in town 3-6Nov. Spence

Send you a PM.

Jya-Ning

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Hapimag, the worlds oldest timeshare operator and a points-based mini-system from the beginning, has ALWAYS bought back its points, and at about 80% of the current price, not 25%. The only catch was that the member had to hold the points 3 or 4 years before the buyback provision kicked in.

Developer buyback may be new for Sunterra, but not for timesharing as a whole.

You can include Disney/and all those ROFR developer.

However, consider this one just purchased Sunterra, and willing to put up more money in the resell market. This got to be the 1st in the industrial. And consider they already settled with one of the owner group, you have to give them some credit. Or we can wait for 5 more years then decide. If what I estimate is right, at 22% repurchase level, they are already put themselves into higher risk. But it shows that they does not cheap their product, and if they steady keep this policy, they should be able to move that repurchase level higher.

For me, at least at this moment, I would say it is very impressive, at least it will create a great feeling toward that product. And any positive in this industrial should be a good thing.

Jya-Ning

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

You can include Disney/and all those ROFR developer.

ROFR is not the same as developer buyback. With ROFR, the seller must first find a third party purchaser. With developer buyback, the developer steps forward as the primary purchaser.

So far in these auctions DRI isn't really providing a full developer buyback, because it's informal. If DRI were to more formally establish that they were willing to be buy back units at a certain threshold price, then we would have a true developer buyback situation.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

ROFR is not the same as developer buyback. With ROFR, the seller must first find a third party purchaser. With developer buyback, the developer steps forward as the primary purchaser.

So far in these auctions DRI isn't really providing a full developer buyback, because it's informal. If DRI were to more formally establish that they were willing to be buy back units at a certain threshold price, then we would have a true developer buyback situation.

I don't know what we can call it. I don't believe they can do ROFR, since it is not in the contract, and personally, I think it is a tool favor developer. It is not buyback since they are not public annouce the min value. However, they did put a value on eBay that is higher than today's market. If it is really them doing the purchase, I don't know how else formal that can be

But eventually, they will have similar effect, it will push most of the resell market around or above that level.

Jya-Ning

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

I agree with this statement. If DRI/Sunterra had a lot of new resorts under construction, they probably wouldn't be buying back inventory. I think the reason Wyndham doesn't buy back points is that they are always building new inventory. There is a limit on what they can sell retail. Has DRI/Sunterra built much new product lately?

They appear to have a lot of spare inventory in Europe. Sunterra Europe reports show a drop of 30,000 members in their points program in 3 years, and Sunterra insider/defenders on Crimeshare use that to justify the sell-off of one of their crown jewels, Carlton Court in central London. More sell-offs there are likely.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

You can include Disney/and all those ROFR developer.

However, consider this one just purchased Sunterra, and willing to put up more money in the resell market. This got to be the 1st in the industrial. And consider they already settled with one of the owner group, you have to give them some credit. Or we can wait for 5 more years then decide. If what I estimate is right, at 22% repurchase level, they are already put themselves into higher risk. But it shows that they does not cheap their product, and if they steady keep this policy, they should be able to move that repurchase level higher.

For me, at least at this moment, I would say it is very impressive, at least it will create a great feeling toward that product. And any positive in this industrial should be a good thing.

Jya-Ning

The first in the industry with a developer buyback program was actually the very first timeshare company, Hapimag of Switzerland, which has continuously had such a program from the very beginning, and with a MUCH more generous buyback price.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

So now we see there are two points programs with developer buybacks. Do you know of any fixed week deeded programs (your favorites) that offer buybacks?? I thought that perhaps Quintus did at Hanalei Bay Resort, but I was corrected. That was the only one I was aware of.

In a weeks program, members need a developer to get its fingers out of the resort as soon as they sell out, not hang around to try and manage. The HOA that runs it after that is a non-profit, an entirely different situation than a developer in sales. Four Weeks resorts I have owned at had to help show the developer the door when it tried to wear out its welcome after it finished selling.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

If this is Diamond, which I think it is, the building costs are really immaterial. Looks as if they are topping out at 70cents per point when you consider CC. They sell for around $3/pt so that's $2.30/pt pure profit as they already sold it for $3/pt the first go round and that's where building costs were paid and original profits made.

This afternoon a Villa's at Polo Towers 1 bedroom unit sold on E-bay for $960. That's a little under 12 cents per point or a pretty good bargain for a developer buy back. Retail on that unit is listed at $26,517.

MF's for that unit are $601 or 5.7 cents per point. I'm not certain what's considered the threshold for value on MF cost's per point but at least the selling price still seems to be a bargain. Especially if Devbuyback is willing to go to 70 ents per point. At 70 cents per point the price could have been bid up to $7,350.


At 70 cents per point my units could be worth $18,500. That would be a tempting figure for me to sell off those two units and buy something different somewhere other than Las Vegas.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

I'm not certain exactly who devbuyback might be but this one appears to have past through without notice. 2 Bdrm Lockoff POLO TOWERS 5 Star LAS VEGAS - (eBay item 290172150150 end time Oct-28-07 11:12:57 PDT) .

$100 for a 2 bedroom Suites week worth 12,000 Sunoptions seems like a very low price. However, notice the buyer has a zero rating. While I see no reason for devbuyback to hide under different names I suppose if one is into conspiracy thinking that could be a possibility. Or someone just picked up a very nice unit for a very low price.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Does not look like it is continued. Look like whoever the devbuyback is, it just come in one day, put in the max bid, then that is it. Maybe try to figure out the whole eBay process, or just to know the resale market.

Jya-Ning

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

I'm not certain exactly who devbuyback might be but this one appears to have past through without notice. 2 Bdrm Lockoff POLO TOWERS 5 Star LAS VEGAS - (eBay item 290172150150 end time Oct-28-07 11:12:57 PDT) .

$100 for a 2 bedroom Suites week worth 12,000 Sunoptions seems like a very low price. However, notice the buyer has a zero rating. While I see no reason for devbuyback to hide under different names I suppose if one is into conspiracy thinking that could be a possibility. Or someone just picked up a very nice unit for a very low price.

Not sure if you reviewed the whole auction details but it did require the buyer to pay the special assessment and 2007 MFs. When you add those int, considering how late is in in the year, it's not really that good a deal

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

Not sure if you reviewed the whole auction details but it did require the buyer to pay the special assessment and 2007 MFs. When you add those int, considering how late is in in the year, it's not really that good a deal

$1,200 should still be well under what devbuyback supposedly set as the standard. Even with the SA to be paid the sale price is approx. 10 cents per point. Not bad when the developer is selling PT's at approx. $2.75/point.

[Spence Super Moderator Find all posts View Profile Close Spence]

Their program probably hasn't progressed to all the deed permutations, just pure points right now.

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

Professional Bidding Scammers

180170724106 15000pts for $2950
buyer devbuyback who will sell it for retail for ~$45,000

180170726009 11000pts for $6744.75
runner-up devbuyback forced it up to this price, why did they not go higher? As they could sell it retail for ~$30,000

180170727619 21500pts for $4150+CC
buyer devbuyback who will sell it for retail for ~$60,000

Could it really be happening???


I think maybe the bargains are gone. Why would DRI buy with the name devbuyback, I guess that they want everyone to know.

This is ALL baloney! Look at the bidders on ALL of these properties and you will see a whole grouping of "phony" bids.

eBay
=180170727619

This is happening on a lot in RCI Points in Florida property. The Texas property is also "questionable" as they have silent bidders.

Here is an example of the activity of one of the bidders.
Bidding Details

BEWARE OF ANY BIDDERS LIKE THIS: O***P

[Spence Super Moderator Find all posts View Profile Close Spence]

I totally disagree with you. All but one of the auctions I discussed went for about the going rate of say 25cents/pt except for the one that went to 70cents. I was the runner-up on a couple of them, beat out by devbuyback. I spoke to DRI/Sunterra and they confirmed that they were getting active in this.

The specific auction you call out below I am e***. who was the runner-up.

This is ALL baloney! Look at the bidders on ALL of these properties and you will see a whole grouping of "phony" bids.

eBay
=180170727619

This is happening on a lot in RCI Points in Florida property. The Texas property is also "questionable" as they have silent bidders.

Here is an example of the activity of one of the bidders.
Bidding Details

BEWARE OF ANY BIDDERS LIKE THIS: O***P