With that in mind, and since I have actually used Ebay to buy a timeshare, I thought I would share some of my tips for buying timeshares on Ebay with you. If you are able to be diligent about checking into things and holding out for just the right bargain, you can really bring down your vacation costs dramatically by picking up some Ebay timeshares. Just be careful you don’t become addicted to the experience, because selling a timeshare when you own one too many isn’t nearly as easy as buying one! And also, keep in mind that buying a timeshare on Ebay is not like buying from a developer. There is no rescission period for buying in the secondary market so a timeshare cancellation letter will not help you. Best to keep your finger off the Buy button if you can’t control yourself!
Before you even figure out what you want, it is not a bad idea of browse through the Ebay timeshares for sale to get a good idea of exactly what is on offer. They actually have a convenient Timeshare Finder which allows you to browse by State, type of location (attractions, beaches, and mountains), the specific timeshare calendar week and number of bedrooms and bathrooms. They even have a search for “Demand Color Code” but I advise that you skip that search as I find that the demand color code is really not specific enough. For example, Florida is “RED” year round, but if you know anything about timeshares you know that Florida is overbuilt and that it is very easy to book a vacation week there with certain exceptions throughout the year. You are better off looking at specific weeks instead for Florida.
You’ll notice when you browse that prices are all over the map. You can see timeshares listed for auction starting at $1 and up into the thousands. If you check the winning bids, you’ll also notice that most of the $1 timeshares never sell. That’s because they are junk. Their true timeshare value doesn’t even manage to cover the dollar! In most cases those very cheap timeshares aren’t worth the closing fees because they are lousy weeks, undesirable resorts and/or locations. If you see some $1 listings that look desirable, yet didn’t sell, they probably have inflated closings costs and transactions fees attached – or maybe the resort imposed a special assessment that needs to be paid by the new owner.
As you can see, the Ebay listings are littered with hazards and the occasional landmine, but the savvy buyer can find great deals as long as you take your time and can discover where the land mines are. You can even find some great Ebay timeshare rentals, if you are not in the market to buy and just need a week’s vacation.
Here are my tips for finding great Ebay timeshares
- Decide What You Want to Buy – you have lots of options on Ebay, so you might want to ignore the site for a bit and find out a bit more about all the different timeshare companies out there and what they have to offer. Do you want a fixed week timeshare or would you prefer the more flexible timeshare points? What brand’s destinations appeal to you? Worldmark and Bluegreen are active on opposite coasts from each other.
- Set Your Budget – Once you know what you are looking for , it is time to set a budget. Make sure that budget includes your closing costs and any final transaction fees. These can often add up to $400 or more on top of the final Winning Bid price, so keep them in mind. I bought a package of Royal Holiday Club points on Ebay for $100, but then had about $600 in fees on top of that, making my total outlay $700. That was still a bargain, but if I’d thought I was getting a timeshare for $100 I would have been sorely disappointed.
- Filter Your Listings and/or Set Up Notification – Once you have decided what you want and how much you are willing to pay, it is only a matter of time. Unless you are looking for a specific resort, most of the time all you need to do is wait and eventually what you want will turn up on Ebay. Even for some resorts, that’s true. You’ll notice on this site, that I’ve set up the pages so you can browse listings by Brand and by popular locations. You can just come back and check on those or you can go to Ebay and set up Notifications. Say for example you want to buy 6000 Worldmark credits, but you don’t see any listed at the right price point. You can set Ebay to notify you anytime new listings are added with the parameters you have in mind. Take advantage of this because it is a lot easier that constantly searching every day.
- Do your Due Diligence – Once you find some likely listings on Ebay, don’t just put the timeshare in your Watch List and forget about it until the final auction day. Get in touch with the owner and ask questions. Ask if you can contact the Resort to confirm the details listed in the auction. You want to make sure there are no maintenance fees past due and you want to make sure the contract details match what the resort has on file.
- Get Ready to Enjoy your Timeshare – Now once you have all the paperwork done it is time for the “big wait”. Timeshares can often take months to close. That doesn’t necessarily mean you have to delay making travel plans however. Many resorts will allow you to schedule your trip while your paperwork is still in process. Sometimes the seller will need to take care of this for you, but if the location is popular (or your dates are) it is well worth taking the time to make sure you have your trip locked in.