As you purchase a timeshare property, you may have already spent thousands of dollars. And like many timeshare owners, you may not be getting great results when using it or when trying to exchange it. Because you’re disappointed with it, you are now thinking of getting out of your timeshare by selling it. But unfortunately, it is not that easy to sell a timeshare nowadays.
Selling a timeshare can be extremely difficult these days, and in some cases, impossible. There’s a survey that shows that only a few of the owners were reported successfully reselling their timeshares for a price that they were happy with. Many timeshare resale firms claim that consumers can save 50 to 90% off retail prices. Therefore, buying a secondhand unit from an individual owner can be a bargain but selling a timeshare is a losing proposition.
Timesharing has been around now for more than 40 years. So timeshare resale or secondary market is already flooded with people desperate to sell. The supply of available resale weeks greatly outweighs its demand in today’s market and thus, driving down prices.
There is also another factor that contributes to the dismal state of resale prices and this is the amount of marketing costs that went into the original sale. Almost 50% of the price of a timeshare purchased from the developer went into the marketing costs. Thus, when you purchase such vacation property from a resort developer, you are paying 50% for the unit and the other 50% goes to those aggressive sales tactics that made you sign the contract.