How to price my timeshare for SALE

I bought a timeshare over 15 years ago and now want to sell it. Does anyone know where I can find statistics on recent unit sales at a particular resort to determine how much to ask? This site already has 1 ad for a similar unit at my resort but I have no idea whether the price they're asking is a fair indicator of market value or not.

Check Ebay, this site and others to see if anyone is advertising their similar units. Usually timeshares have little or no value in todays market. Some of the better known places like Marriot or Hilton have value but there are so many restriction about resales that the resale prices is low compared to whatt you paid for it.

Scammers are preying on people trying to sell their timeshares. Rule #1..... NEVER pay anyone money upfront to sell or rent your timeshare. Anyone that demands upfront money is a scammer.

If you want to just get rid of your timeshare try calling your home resort and ask if they will take it back by the way of a " deed back ". That's a quit claim where you give up your ownership back to the resort. I got rid of two timeshares that way. I had to be current with my maintenance fees and assessments and I paid the next years taxes and a minimal fee for processing. I am no longer responsible for future maintenace fees or assessments.

You could offer your timeshare for one dollar on Ebay or other sites and offer to pay the closing costs if it is worth it for you to get out of your timeshare.

Feel free to ask questions and someone will be glad to help if they can and NEVER pay anyone money upfront to sell it or take it off your hands.

I own a lot of timeshare weeks. Marriott and Wyndham and another, not in a large company. I sold one of my timeshares on my own. This is what I did. I first listed it and paid $400 for a "lifetime" and useless listing that didn't bring me a single inquiry until years after I sold it myself. Then, I listed it on a couple of my favorite sites: (Currently, Redweek, Bidshares, Vacationtimesharerentals, Arrangeyourvacation and craigslist.org). I got a market value from vacationtimesharerentals and sold it for double the amount they told me it was worth and $3500 less than I paid for it. I owned it for 10 years and had listed it for 4 before it sold. In the interim, I rented it and really didn't lose money on it. My point is try to find out what it is worth by attending the presentation. Find out the selling points that made you buy it and set a reasonable price. Answer all inquiries promptly, courteously, and honestly. I never use e-bay for timeshare rentals as they seem to offer unacceptably low returns. The marketplace seems to be getting even more competitive for renters and also people don't seem to want to spend as much on vacations as previously. I'm lowering my rental rates. Unfortunately, my maintenance fees don't ever go down, so it can be difficult ahead. Currently, I am listing a timeshare for re-sale. It is a great deal for a person new to timeshares because it can open doors to vacations that otherwise would not even be possible. I, on the other hand, no longer need this "beginner" unit as I own more weeks than I (or my 3 grown sons) ever can use and so........ Good luck pricing and selling your unit. PS I used the title company on Vacationtimesharerentals.com (which was low-priced and excellent). They handled everything.

wendyh231 wrote:

I bought a timeshare over 15 years ago and now want to sell it. Does anyone know where I can find statistics on recent unit sales at a particular resort to determine how much to ask? This site already has 1 ad for a similar unit at my resort but I have no idea whether the price they're asking is a fair indicator of market value or not.

angelas122 wrote:

My point is try to find out what it is worth by attending the presentation.

With all due respect, in this down economy attending a developer presentation to find current developer pricing is the last thing an interested buyer would want to do as 98% of timeshares are selling for pennies on the dollar on the resale market.

This has been the case for years. Timeshares selling for pennies on the dollar is not new. I still got a reasonable price for my timeshare. There is a market out there. It is just a matter of setting a price, being somewhat flexible and patient. It took a couple of years to sell my timeshare, but I rented it in the interim.

I think people forget how much they paid for the timeshare because the maintenance fees become such a burden. If you can rent it to cover those and can wait, you can get a reasonable return for your timeshare. If not, instead of selling it for pennies on the dollar, you might consider donating it. Just my opinion.

angelas122 wrote:

I think people forget how much they paid for the timeshare because the maintenance fees become such a burden.

Oh, I'm sure people remember how much they paid for their timeshare originally (assuming they bought at the developer presentation). Who forgets how much he paid for something when it is in the tens of thousands of dollars?

And "selling it for pennies on the dollar" is a better alternative than donating it. At least you will get a few pennies. Donating it costs the donor, sometimes into the thousands of dollars.

I didn't realize that donating would cost so much but I never considered donating so I haven't looked into that. I guess what I think is that selling it too cheaply is like donating it to the buyer.

I also keep that original price tag in mind when I rent my timeshare. It doesn't cost just the maintenance fee for the privilege of staying at a fine resort. And I meet other guests on vacation who pay rack rates to stay, so I try to take all of that I to consideration when I rent or sell.

I guess the most difficult thing about either renting or selling is that one doesn't buy a timeshare with the intention of becoming a broker or agent. Unfortunately, because of the low return on your investment, using a broker often isn't practical.

In the large scheme of things, I probably would never have taken the wonderful vacations I have if I hadn't purchased the timeshare because I couldn't afford them. The real question is can I afford to own the timeshare!?

angelas122 wrote:

And I meet other guests on vacation who pay rack rates to stay, so I try to take all of that I to consideration when I rent or sell.

In the large scheme of things, I probably would never have taken the wonderful vacations I have if I hadn't purchased the timeshare because I couldn't afford them. The real question is can I afford to own the timeshare!?

You do not have to pay "rack rates" to stay at such resorts. Many owners of individual units rent their units out for about (sometimes even less than) the cost of the maintenance fees. This is especially true in areas like Mexico, Orlando, Vegas, and Williamsburg. Just check out the ads here on RedWeek and confirm.

I've noticed that but I don't own any timeshares in those locations and I don't know about the maintenance fees there. If I find I can't get a rental to at least cover my maintenance fee, I may choose to gift it to a family member or friend. Currently, my rentals more than cover all of my maintenance fees so I gift my sons and several friends every year.

I must say that you're very lucky that you can rent for what your maintenance fees are (or for a profit) .... you must own at very high end resorts in popular locations, because the vast majority of owners can't recoup their maintenance fees by renting.

I own at several popular Marriott resorts and also at Wyndham. With Marriott, I own 2 platinum and one gold season. One is a fairly good rental (gold), one is in a good area, but I trade it for points to a better rental and the third is very dependably an excellent rental.

Wyndham offers so much flexibility that with diligence and planning, I rent quite a bit and have developed relationships with repeat renters. I work hard to get them the dates they want at the resorts they want for a rate that is neither the highest or lowest you can find.

The resort I sold was neither Marriott nor Wyndham, but was in a great location, Hilton Head Island. Still it took several years to sell and considering what I paid for it and what I had rented it for, I did great. (80% of my purchase price, several years of rentals and low maintenance fees.) I don't think I would have done as well if it was handled by any broker because I had paid one and listed it (in my early uninformed days) and didn't get an inquiry until 9 years after I listed it and 3 years or so after I sold it.

I own at several popular Marriott resorts and also at Wyndham. With Marriott, I own 2 platinum and one gold season. One is a fairly good rental (gold), one is in a good area, but I trade it for points to a better rental and the third is very dependably an excellent rental.

Wyndham offers so much flexibility that with diligence and planning, I rent quite a bit and have developed relationships with repeat renters. I work hard to get them the dates they want at the resorts they want for a rate that is neither the highest or lowest you can find.

The resort I sold was neither Marriott nor Wyndham, but was in a great location, Hilton Head Island. Still it took several years to sell and considering what I paid for it and what I had rented it for, I did great. (80% of my purchase price, several years of rentals and low maintenance fees.) I don't think I would have done as well if it was handled by any broker because I had paid one and listed it (in my early uninformed days) and didn't get an inquiry until 9 years after I listed it and 3 years or so after I sold it.

My maintenance are very high, in my opinion. If I couldn't cover them by renting, I couldn't afford to pay them. I also get to vacation and send my grown children on vacation and one or two friends a year gratis.