Purchasing a timeshare on the resale market can be difficult solely because there are so many timeshares to purchase. Picking out the right timeshare for the right price is not an easy endeavor. As I state many times before, all timeshares are not equal. There are some great timeshares and their are some truly awful ones.
There are many places to purchase timeshares but one of my favorite places is actually eBay. eBay is a legitimate marketplace to buy and sell just about anything and timeshares are no exception. I actually recommend using eBay to determine what your timeshares is potentially worth.
Are eBay Purchases Legitimate?
eBay has a vast amount of timeshares being offered with many with a list price of $1.00, (yes One Dollar), or even one cent ($.01). The question is whether these are legitimate purchases.
The answer is that they are generally legitimate but you NEED to read the fine print. While the auction for the timeshare may be for that low price, the eBay description might have various other details that will cause the "purchase price" to skyrocket way beyond the winning price.
For example, the timeshare purchase could require the buyer to pay many years of maintenance fees, pay off loans, closing costs, future maintenance fees and so on.
The actual price for the timeshare may be thousands of dollars even if you ended up winning the auction for a $1.00.
Here is a screen shot showing some recent listings of timeshares on eBay. As you can see, all these offered timeshares having selling prices for $1.00
Some of these timeshares are legitimately selling for a $1.00 and DO NOT have any "catches". Unfortunately, despite what you may think, the resale value of some timeshares is almost completely worthless and selling for $1.00 may actually be the fair market value for these items.
As discussed many times, sometimes timeshares simply do not have any resale market despite their initial purchase price. There are NO buyers for these timeshares which is why a vast majority of them sell for $1.00 or are at least offered for $1.00. There are even plenty of timeshares where people will PAY YOU money to take them.
Why Purchase a Timeshare?
While many timeshares are essentially worthless, there are plenty of others that will retain some value or at a minimum, be able to sell them when you are done using them. The timeshares from the main timeshare brands (Hyatt, Marriott, Hilton, Starwood / Vistana, etc.) all tend to retain some value where you should be able to sell them or give them away without too much effort. The key is to purchase them at the "right" price, use them and understand how to maximize their value!
The problem is that there are a lot of smaller / independent timeshares where there simply isn't a resale market or enough buyers to create one. There are not too many buyers looking to purchase one week at one location anymore. While all of the timeshares can usually be exchanged, these smaller / independent ones do not trade that well.
These types of timeshares give timeshares a very bad name as many owners are disgruntled about having these items where they don't use them, can't get rid of them for any price and they continue to have to pay maintenance fees.
While buying a timeshare for $1.00 can look like a good deal, a lot of these "deals" are not really deals at all as once you take them over, at some time in the future, you may be the one trying to sell it for $1.00. There are always some diamonds in the rough and there could be some fantastic timeshares out there selling for $1.00 but my recommendation would be to always stay with the big name timeshare brands.
The big name timeshares will not hold their value but they usually will retain some value which will make them worthwhile to somebody, someday. They have more brand awareness so it will be easier to try to find someone to buy them.
eBay is a great place to find and purchase timeshares. However, you need to carefully review the description to fully understand what you are getting. You also need to fully review the timeshare that you are purchasing and make sure that you understand how it works, how it trades and how you will use it. If you purchase something and you don't use it, you can get yourself stuck with a ongoing bill that is tough to get rid of.
Have you purchased a $1.00 timeshare and if so, what has your experience been?
Message from The Timeshare Guru: I definitely enjoy a few drinks on vacation and tend to indulge quite frequently, especially when on vacation. However, there are some trips where indulging definitely has its downsides and you ending up "paying" for it the next days. In this post, Peter, from The Recovery Village, has generously agreed to provide this guest post for your reading pleasure. While I enjoy my drinks, abstaining does have a lot of perks which The Recovery Village explains below!
The Benefits of Staying Sober on Vacation
You're probably stoked if you're planning a vacation with your loved one or your spouse. The strong urge to drink and be festive may fall upon you. It's very common for alcohol to be involved in people's vacations. However, there are some health-related and fun-related reasons to choose sobriety on your next trip. Your choices may enhance your enjoyment of your vacation, as well. Here are some of the benefits of staying sober on it.
More Energy to Do Things
Alcohol is a depressant, so one of its most prevalent effects on the body is a deprivation of energy. It puts your entire body in a relaxed state and promotes sleeping, resting and general non-alertness. The vacation is usually a time when people want to do as much as they possibly can. If you ditch the alcohol, you could stay awake longer, and you could increase your energy level so that you can partake in sporting activities and fitness activities like hiking, skiing, boating or some other vacation-related activity.
Greater Enjoyment of Foods
Vacations are usually full of visits to the local restaurants and dessert spots. Vacationers always want to try new exotic foods. Alcohol dulls all your senses, even your sense of taste. Thus, you won't get the full enjoyment of those meals that you travel hundreds of miles to try. Why not forsake the alcohol so that you can savor every mouth-watering drop of your meal? You'll remember the sharp and robust taste of every bite that you take. You'll be able to share those vivid memories with your family members, friends, co-workers and others. You have the rest of your days to drink alcohol. Try skipping it for at least the first meal so that you can see what it's like.
Greater Stamina During Personal Time
If you are going on vacation with your spouse, then you are most likely going to want to engage in some pleasurable personal activities. Abstaining from alcohol will allow your circulatory system to operate full blast. Therefore, you will have increased vitality and stamina in the personal area. Additionally, you'll get more enjoyment out of the whole activity. Just as alcohol dulls the senses when it comes to food and eating, it dulls the other physical senses. So your personal experience will be sharper and more dynamic for you and your spouse if you say no to the alcohol during the vacation.
It Saves Money
Another huge benefit that you can get from staying sober is that you can save money. Mixed drinks are expensive, especially when you're in a vacation area. This is one of the best ways to save if you are on a budget and watching all of your expenses. You can try virgin drinks or something that they call mocktails if you want to have the feeling of being on vacation and having drinks. The chances are high that those drinks will be extremely delicious, and you'll have fun trying new things, and you'll save money. Non-alcoholic beverages are usually less expensive then alcoholic beverages are, but check the menu first.
More Creative Activities
You can access a world of creativity in your mind if you don't cloud it with alcohol. That means you'll be able to think of interesting and mindblowing activities that you can do while you're on your vacation. You may even think to delve into the artistic realm and find some painting supplies or stop at a recording studio if you're in one of those areas. Maybe you can join a pottery class or something like that while you're on your vacation. There are more than a million things you can do with a sober mind.
It Helps Avoid Accidents
Finally, you can decrease the chances of getting into an accident if you leave alcohol out of it. More than 5 million car crashes occur each year, and many of them involve alcohol. Even if you are not past the legal limit, the alcohol could still cloud your judgment. Therefore, you can still get into an accident that's not necessarily your fault just because your reaction time and your judgment are lower. It's best to decrease the chances of that happening by just avoiding it altogether.
Those are just of some of the valid reasons for and benefits to staying soberon vacation. Consider them and try to do your next trip alcohol-free.
Message from The Timeshare Guru: I owe Peter and The Recovery Village a sincere apology as this has been in my inbox for way too long. Please visit their website and see if their services can be of any use to you. I think that there is some great information in here and hope my readers feel the same.