Question on Selling/Rebuying

[KYDVC]

I have a GC contract for 160 points. Seeing that the market is $300/point for that resort, I’m thinking about dumping that contract and buying a similar contract at a cheaper resort, pocketing the spread.

We’ve never stayed at GC, so the 11 month window isn’t really much of a draw. Any thoughts as to potential drawbacks that I may not be thinking of? It seems too good to be true, so I don’t want to make a rash move without being aware of potential problems.
Thanks!

 

[Club Cooloholic]

I have a GC contract for 160 points. Seeing that the market is $300/point for that resort, I’m thinking about dumping that contract and buying a similar contract at a cheaper resort, pocketing the spread.

We’ve never stayed at GC, so the 11 month window isn’t really much of a draw. Any thoughts as to potential drawbacks that I may not be thinking of? It seems too good to be true, so I don’t want to make a rash move without being aware of potential problems.
Thanks!

Can I ask why you bought at GC if you never stayed there? I mean, do you even visit DL? Is $300 the price through DVC direct, because that's not the price they will buy it back at oe what it would go on the secondary market.
Post Edit:. I see that is the secondary market! Wow that is a great resale price. Again if you don't plan to really go to GC I think it totally makes sense to sell. I can't see any draw back of you then buy direct or resale just make sure you don't do it at Rivera (if you buy resale) unless that's the only resort you want to stay at.

 

[KYDVC]

Can I ask why you bought at GC if you never stayed there? I mean, do you even visit DL? Is $300 the price through DVC direct, because that's not the price they will buy it back at oe what it would go on the secondary market.
Post Edit:. I see that is the secondary market! Wow that is a great resale price. Again if you don't plan to really go to GC I think it totally makes sense to sell. I can't see any draw back of you then buy direct or resale just make sure you don't do it at Rivera (if you buy resale) unless that's the only resort you want to stay at.

Thanks for the reply. We bought in 2010 and GC was the cheapest at the time. It was also pretty reasonable from a dues standpoint. I’ve never been to DL, and while I would like to go, a trip there isn’t happening soon. Plus, we’ve never had trouble getting a 7 month reservation where we’d like to stay.

I think we paid a total of $11k for the points, so I think we just got a bit lucky with our investment.

 

[Club Cooloholic]

Thanks for the reply. We bought in 2010 and GC was the cheapest at the time. It was also pretty reasonable from a dues standpoint. I’ve never been to DL, and while I would like to go, a trip there isn’t happening soon. Plus, we’ve never had trouble getting a 7 month reservation where we’d like to stay.

I think we paid a total of $11k for the points, so I think we just got a bit lucky with our investment.

DL is fantastic. But yeah sell that and make some moolah. Plus I think they just got a pretty sizable dues increase

 

[CastAStone]

I think the actual agreed to selling prices are more like $270-$280 vs the listings reaching $300, plus you’ll have to pay a commission on the sale, but yeah if I were you I’d pocket the difference and switch into whatever WDW property floated my boat. Just know depending where you buy you may lose some length of contract.

 

[CaptainAmerica]

I have a GC contract for 160 points. Seeing that the market is $300/point for that resort, I’m thinking about dumping that contract and buying a similar contract at a cheaper resort, pocketing the spread.

We’ve never stayed at GC, so the 11 month window isn’t really much of a draw. Any thoughts as to potential drawbacks that I may not be thinking of? It seems too good to be true, so I don’t want to make a rash move without being aware of potential problems.
Thanks!

Is your plan to sell GC and then buy a new contract Direct, or Resale?

 

[KYDVC]

Is your plan to sell GC and then buy a new contract Direct, or Resale?

Probably resale. I have only purchased one contract (GC), so I'm not sure as to the benefits/drawbacks of either.

 

[CastAStone]

Probably resale. I have only purchased one contract (GC), so I'm not sure as to the benefits/drawbacks of either.

A resale contract purchased post 2016 has significant restrictions associated with it. You lose all “membership extras” like the AP discount, shopping discounts, access to special events like Moonlight Magic, access to member cruises, access to the DVC lounge at Epcot, and the ability to use your points for anything except 1) booking rooms at the first 14 DVC resorts (so not Riviera and not anything built in the future), and 2) exchanges via RCI.

If that stuff has meaning to you, you can retain it by selling your VGC contract and buying a direct contract from Disney. If it doesn’t have value to you, I’d suggest rebuying resale to maximize the amount you’re cashing in.

 

[Club Cooloholic]

A resale contract purchased post 2016 has significant restrictions associated with it. You lose all “membership extras” like the AP discount, shopping discounts, access to special events like Moonlight Magic, access to member cruises, access to the DVC lounge at Epcot, and the ability to use your points for anything except 1) booking rooms at the first 14 DVC resorts (so not Riviera and not anything built in the future), and 2) exchanges via RCI.

If that stuff has meaning to you, you can retain it by selling your VGC contract and buying a direct contract from Disney. If it doesn’t have value to you, I’d suggest rebuying resale to maximize the amount you’re cashing in.

Again, some of these are more important than others, given the point costs at Riviera for what you get I cant see ever wanting to stay there and the events are very time specific. That said the AP discounts are nice if you go enough, which with 160 points I don't know if he will.

 

[KYDVC]

Yeah, we typically go for 10 nights in May. We have been to a members only night at Epcot (which was great), and do enjoy the discounts. But based on my math, we are looking to pocket $20k from a swap. That’s a lot of discount that would need to happen to offset that. And we really aren’t in love with the Riviera. We’d only be able to afford a tower studio, and aren’t interested in that.