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Thread: Auction

  1. #1
    Please excuse me, I'm a Dick. Not a moron just a Dick
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    Auction

    A live auction of units for Sea Oats Beach Club will be held on March 14, 2017, 11:00 a.m. at Sea Oats Beach Club, 1720 Gulf Blvd, Englewood, FL.

    http://www.englewoodbeachresorts.com/

    http://www.englewoodbeachresorts.com...ev-2-18-17.pdf
    RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick

  2. #2
    So whats do you get ? Is it a condo ownership for the entire year ?

  3. #3
    Please excuse me, I'm a Dick. Not a moron just a Dick
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    Have you heard of timeshares? You get a week each year.

    Or, if you live there/here, you get a week each year, plus every-day beach access, with free parking, swimming pool, bathroom, hot tub, chickee hut, BBQ grills.

    There's a rental program (they keep 25%), a resale program, and owner rental privilege @ $495/week. 2017 annual fee is $498. Local beach clubs, which are basically just parking and access, are more than that.
    RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick

  4. #4
    Please excuse me, I'm a Dick. Not a moron just a Dick
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    https://www.google.com/maps/place/En...!4d-82.3525952

    The area is by-passed by US 41 and I-75, which are 25 miles away. It is "Old Florida", with no highrises and no chain hotels and motels. Captiva is just 30 miles away. Englewood is a little drinking village with a fishing problem. There's not even a police force; it's all handled by the County.
    RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick

  5. #5

    Auction

    I don't see my favorite unit on the auction list

  6. #6
    Please excuse me, I'm a Dick. Not a moron just a Dick
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    Quote Originally Posted by rapmarks View Post
    I don't see my favorite unit on the auction list
    104 or 105?

    I know how bad you want it. Sorry.

    If anyone wants a layout diagram, I guess you'll have to PM me, cuz it won't load.
    RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick

  7. #7
    Please excuse me, I'm a Dick. Not a moron just a Dick
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    Today was the day. There were about 50 weeks available, and a small, quality crowd of 30 or 40 buyers, each obviously there with the intention of getting a week.

    It started about an hour late because the auctioneer is from Indiana, and hadn't set his clocks forward.

    He read each week, out-of-order so we had to tell him to slow down so we could find where he was at, by saying the unit and week, and "The Board bids $595," or whatever the minimum bid was. If there was no one interested in that week, he went to the next one. That created a little murmur, the question circulating being, "We thought the Board was trying to get rid of these."

    So I asked, "Why are you not entertaining lower bids? We thought the idea was to make these weeks productive again, and if everyone here gave a dollar, and every week got owned, that's $25000 a year.

    The head Board guy/resale guy/rental guy answered:

    1. The minimum bids are all much lower than resale prices in the marketplace.
    2. The Board has much more than the minimum bid in each of the weeks, meaning what it has cost for the resort to acquire them back through foreclosure.
    3. The auction is required by law to be public, and it was felt that if there were to minimum bid requirements, it would attract a bad crowd to the auction.
    4. In talking to him longer, afterwards, it was clear that the resort does fairly well renting out the weeks they own, so that not having them owned does not make them unproductive. But, and since we have exchanged ideas before, he said he would propose to the Board the idea of allowing owners to acquire foreclosed weeks "for a dollar."

    Back to the auctioneer, he read a week while the guy next to me was telling me something, so I had to ask, "Where you at now?" It was Week 1 in a desireable unit, for $695, and since that's one of the three I was there for, I took it. In the marketplace, outside of the annual auction, those are $2495, and Week 1 is pretty much a guaranteed rental.

    $755 total.
    RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick

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