Rivera resale December report sold for $150 per point

[€lairebear]

the December resale average price just came out. Rivera resale price for the 150 point contract was sold for $150 per point. I thought that’s high I paid $167 per point when I purchased my Rivera contract in December direct that’s after the incentive applied. The other 121 per point sold resale was a stripped contract. Thoughts?

 

[Minniesgal]

Insanely high

 

[€lairebear]

Insanely high

I agree i am surprised it I was sold that high even though it’s a loaded contract. At that price per point I would have gone direct with paying a little more.

 

[Sandisw]

It is pretty high, but maybe someone bought it who already has direct benefits and other qualified points.

What it tells me is that there are buyers who won’t be turned off the restrictions and willing to pay to save even some.

The buyer pool will remain smaller, but maybe this person bought to use to rent out the points to help cover other ownership interests.

 

[Ben E N]

It is pretty high, but maybe someone bought it who already has direct benefits and other qualified points.

What it tells me is that there are buyers who won’t be turned off the restrictions and willing to pay to save even some.

The buyer pool will remain smaller, but maybe this person bought to use to rent out the points to help cover other ownership interests.

It tells me that they maybe weren't aware of the market in general. I highly doubt there was a bidding war with how quickly it sold, and considering the contract in November paid only $121 per point, that's a 20% premium they paid on these points.

 

[€lairebear]

It tells me that they maybe weren't aware of the market in general. I highly doubt there was a bidding war with how quickly it sold, and considering the contract in November paid only $121 per point, that's a 20% premium they paid on these points.

Well you also have to consider the 121 pp was a stripper contract. I thought I read somewhere from a previous thread that someone tried to offer way low and the broker came back the seller will not go lower than 150. The initial price it was marketed for was 175 pp for that contract. Also a while back another resale was bought for 100pp but it was resold by the seller for 140pp. I forgot to add on the resale website for Rivera there’s a note there that resale points can only be used for Rivera so I highly doubt the buyer was unaware about the restrictions. I included the screenshot if notifying buyers about the restrictions. Thought it was a 150 point contract but It’s actually a 160 contract.

It’s too early to predict but so far it seemed like riv if the contract is not stripped it sells between 140-150pp and if it stripped low 100s up to 120 pp?

 

[Sandisw]

It tells me that they maybe weren't aware of the market in general. I highly doubt there was a bidding war with how quickly it sold, and considering the contract in November paid only $121 per point, that's a 20% premium they paid on these points.

But remember the owner who sold for $121 priced it there. It was stripped, couldn’t close until March, and had decided that was all they cared to get back because they never attempted to get more.

I just think whoever bought this felt that $150 was a good price for what they wanted. It was bought within 24 hours. I don’t believe it’s a case of not understanding the market as the brokers are pretty good of explaining things.

I can tell you now that I own and like RiV, Id buy resale points there if I ever got to the point my current ones are not enough.

 

[crvetter]

I forgot to add on the resale website for Rivera there’s a note there that resale points can only be used for Rivera so I highly doubt the buyer was unaware about the restrictions. I included the screenshot if notifying buyers about the restrictions

I bought through the same company (for VGC) and I specifically signed a piece of paper that did nothing but explain the resale restrictions and I was acknowledging it. So I agree the buyer would have had to actively ignore the broker to be unaware.

 

[Sandisw]

Well you also have to consider the 121 pp was a stripper contract. I thought I read somewhere from a previous thread that someone tried to offer way low and the broker came back the seller will not go lower than 150. The initial price it was marketed for was 175 pp for that contract. Also a while back another resale was bought for 100pp but it was resold by the seller for 140pp. I forgot to add on the resale website for Rivera there’s a note there that resale points can only be used for Rivera so I highly doubt the buyer was unaware about the restrictions. I included the screenshot if notifying buyers about the restrictions. Thought it was a 150 point contract but It’s actually a 160 contract.View attachment 463495

It’s too early to predict but so far it seemed like riv if the contract is not stripped it sells between 140-150pp and if it stripped low 100s up to 120 pp?

It sold quickly too so I bet it was someone who wanted to own there but already has direct benefits..so hey, $30 a point is a decent savings

 

[Ben E N]

It sold quickly too so I bet it was someone who wanted to own there but already has direct benefits..so hey, $30 a point is a decent savings

It's just really high percentage wise compared to pretty much all other resale contracts. I know the other ones can't get into Riviera now, but if I remember right, even the first Poly resale contracts that were restriction free went for less percentage wise compared to what the direct price was.
As long as the buyer is happy with their purchase, I am happy for him/her, I just think they will look at resale prices in the coming months and realize that they overpaid by at least $10 per point.

 

[sethschroeder]

Maybe someone who got wrapped up in the hype and love the resort when they saw it? Then looked at pricing and the extra $30 they saved by buying resale was enough for the math to work on the initial purchase.

Thats a $28k vs $22k swing which might be the difference between affording it or not?

 

[€lairebear]

With this whole restriction on resort use from
Riviera on. I wonder if that may eventually be the going prices for resale for the more restrictive resort (time will tell). The loaded contracts sold 140-150pp and the stripped sold for 121pp. The contract that was sold for 121pp was also a small 50 point contract. Eventually if we buy resale it will definitely buy where we actually want to stay since that will be the only option.

 

[Sandisw]

Maybe someone who got wrapped up in the hype and love the resort when they saw it? Then looked at pricing and the extra $30 they saved by buying resale was enough for the math to work on the initial purchase.

Thats a $28k vs $22k swing which might be the difference between affording it or not?

Good point because it did sell after the resort was open.

 

[€lairebear]

I bought through the same company (for VGC) and I specifically signed a piece of paper that did nothing but explain the resale restrictions and I was acknowledging it. So I agree the buyer would have had to actively ignore the broker to be unaware.

I just bought vgc resale too from the same company. Knock on wood still waiting to get the points and contract loaded to my account and it was recorded since 12/30.

 

[carli_h]

Interesting. This is the first April UY contract I have seen for Riviera. Perhaps this played a part in the price.

I wonder if Riviera resale will attract those who buy to rent out and then in time flip it for a profit. The changes could create a strong rental market for the 11 month advantage. Riviera points seem to rent easily currently, but it’s hard to tell if this will continue when it’s no longer the newest resort.

 

[DougEMG]

It could be a foeign buyer who can't buy direct without being at WDW. I am surprised at the price as It does seem a little high given the resale restriction.

 

[Brianstl]

Just seeing the price per point in the sale doesn’t tell the whole story. The buyer could have saved himself $13 a point by getting the seller to agree to paying 2020 dues and closing costs

 

[Sandisw]

Just seeing the price per point in the sale doesn’t tell the whole story. The buyer could have saved himself $13 a point by getting the seller to agree to paying 2020 dues and closing costs

You are right. But, honestly, selling in 24 hours, and being fully loaded, leads me to believe buyer probably paid 2020 MFs

If that buyer didn't need those extra points, and rents them. It could bring cost down another $17 to $18.

 

[crvetter]

If that buyer didn't need those extra points, and rents them. It could bring cost down another $17 to $18.

Though they could have done the same thing with a direct contract. Really there wasn’t too much on the surface that this contract offered over direct.

 

[Sandisw]

Though they could have done the same thing with a direct contract. Really there wasn’t too much on the surface that this contract offered over direct.

Yes, but it would not have gotten it down to $132. I’d say the buyer saved about $4800 going this route. That is a pretty nice savings, regardless of restrictions.

It does go to show that it’s so far selling for a bit more than many of us figured it would. I am surpised as my prediction was RIV would only sell around $100 or less.