DVC Right of First Refusal Report (ROFR): September ’19 Report

Year-to-date (YTD), Disney has exercised their right of first refusal (ROFR) on 544 Disney Vacation Club (DVC) contracts, and DVC Resale Market (DVCRM) has sold 2,934, resulting in a 18.5% buy back rate (Contracts Bought Back YTD / Contracts Sold YTD). The year-to-date waiver rate is 81.5%.

Changes in Buy Backs

September brought some of the most significant changes in buy back strategy thus far in 2019.  For the first time all year we observed buy backs with Grand Californian (GCV) and only 1 buy back between Animal Kingdom (AKV) and Saratoga Springs (SSR) combined.  YTD, AKV and SSR represent over half of all buy backs, but in September accounted for only 1 of 19.

Old Key West (OKW) dominated the buy backs in September, representing over 63% of contracts bought back in the month.  Not a surprise to observe OKW with a high number of buy backs as each year it continues to be high on the buy back radar.

The two biggest surprises in September were the lack of AKV and SSR buy backs and the first buy backs for GCV.  The lack of buy backs for AKV and SSR may be attributed to a high inventory already in stock with numerous buy backs throughout the year, and that the buy back rate in general for September was much lower (19 buy backs in September vs. 48 in August), which may be correlated with the end of Disney’s fiscal year.  The GCV buy backs may be a result of the gradual drop we have observed in GCV’s selling price.  A little more than a year ago, the average selling price of GC was over $200 per point, and now that average selling price is in the low to mid 180’s per point.

Highest Monthly Buy Back Numbers by DVC Resort

The DVC Resorts that have been bought back in 2019 are as follows: Saratoga Springs, Animal Kingdom, Bay Lake Tower, Beach Club, Old Key West, Boardwalk, Grand Californian, Grand Floridian and Hilton Head. Additionally, their buy back price thresholds have remained fairly consistent in 2019. Keep in mind these thresholds do not provide a guarantee of avoiding a buy back, but with this much congruity, they should provide great directional information.

Highest Buy Back Price Per Point by Resort for 2019

It is important to note that Aulani, Boulder Ridge, Copper Creek, Polynesian, and Vero Beach continue to go untouched for buy backs in 2019.

What is Right of First Refusal (ROFR)?

For those new to the concept of Right of First Refusal, it is the option Disney Vacation Club has to purchase any resale contract after a sales price has been agreed upon, and the contract has been executed. Each contract must be forwarded to DVC for review.

DVC typically takes no more than 30 days to review the contract. At their discretion, Disney may step in and purchase the property themselves at the terms agreed upon by the Seller and original Buyer. DVC then becomes the Buyer, and the purchase is complete. Once DVC is the buyer there is not an opportunity to come back with a better offer in hopes of still purchasing the contract.

Disney Vacation Club Resort Contracts Bought Back in 2019

Please refer to the graph below for the total amount of buybacks at each DVC resort for contracts sold by DVC Resale Market YTD in 2019:

Number of contracts disney exercised ROFR sold by dvc resale market september 2019 year to date

Summary on DVC Buybacks in September

The selling price range and volume summary for all buybacks in September:

Resort Selling Price Per Point Range of Buy Backs in Sept. Number of Buy Backs in Sept.
Bay Lake Tower $143 1
Boardwalk $109 – $112 2
Grand Californian $180 – $185 3
Old Key West $80 – $94 12
Saratoga Springs $94 1


Buyback Rates for Disney Vacation Club Resorts

The table below shows the percentage of buy backs for all 9 different resorts that have had at least one contract bought back in ROFR for January through September of 2019. Note, the buyback rate for Aulani, Boulder Ridge, Copper Creek, Polynesian and Vero Beach in 2019 has been 0%.

Resort Buy Backs Number Sold Percentage Bought Back
Animal Kingdom 130 470 28%
Bay Lake Tower 84 290 29%
Beach Club 45 146 31%
Boardwalk 28 192 15%
Grand Floridian 21 162 13%
Hilton Head 17 57 30%
Old Key West 63 219 29%
Saratoga Springs 147 652 23%


Access all DVC resale listings and learn more about buying and selling with DVC Resale Market.


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