Online auction sites have gained a huge following in recent years, allowing buyers and sellers to come together in a global marketplace to trade goods at competitive prices. Whilst auction sites may be useful for selling many things, is it a good idea to consider selling timeshare on auction sites?
Many people eager to sell a timeshare quickly may be attracted to the fact that auction sites give you access to a global audience of millions of people.
However, it’s important to consider the pitfalls before making a decision.
1. Low Buyer Demand
Once you try to sell your timeshare on an auction site, you may find the reality somewhat different from what you expected. Not all of these millions of people are looking to buy a timeshare, so even with a huge audience at your fingertips, demand may still be very low.
2. Selling Timeshare on Auction Sites Often Means Low Selling Prices
What you may also quickly discover is that many timeshare owners on auction sites end up selling their properties for next to nothing – often as little as £1. In such a competitive market, in order to secure a sale you may be forced to drop your price in line with the competition, which effectively means you could end up almost giving your timeshare away. Is this really what you had intended?
If you do try to sell it at the price you want, you may just find that you fall by the wayside with so much competition around. Many sellers become so desperate to get rid of their timeshare they may even offer to pay the closing and transfer costs as well as any fees due for the current year. If your timeshare fails to sell on an auction site, you may also end up relisting it again, which could cost you an extra fee.
Find out more about why following the crowd to selling timeshare on auction sites is a bad move with our post, Sell Timeshare Quickly? Avoid Auction Sites.
3. Dealing With Exchange Process Yourself
Even if you do manage to sell your timeshare on an auction site, you will then have to deal with the whole exchange process. This can be time-consuming, not to mention confusing, to someone who has never sold a timeshare before.
Although using auction sites might seem like an easy option for selling your timeshare quickly, you probably stand a much better chance of success if you go via an experienced and reputable agent. Do your research, and find an agent you can trust. A good agent knows the timeshare selling process inside out and is better placed to put your timeshare in contact with people who actually want to buy. What’s more, they’ll be able to work through all the complicated paperwork involved. In the long run, you will find that getting some help from those in the know will deliver the best results.
- Sunday, 08 May 2016 16:55