DVC Right of First Refusal (ROFR): January ’18 Report

Disney's Animal Kingdom

In the month of January, Disney exercised their right of first refusal (ROFR) on 10 of 275 Disney Vacation Club (DVC) contracts sold through the DVC Resale Market, representing 3.6% of the contracts sold.

At 3.6%, 2018 is staring with a lower buy back rate than where each of the past 2 years finished: 4.4% for 2016 and 6.9% for 2017.  Additionally, when comparing buy back rates from January of 2017 to January of 2018, there is an over 60% drop, as January of 2017 saw a buy back rate of 9.5%.  This drop in buy back rate is a continuation of what we were seeing in the latter half of 2017 as prices rose, and the buy back rate dropped.

The chart below shows the relationship between the average selling price per point and the buy back rate for 2017 and early 2018.  Generally, as price has risen, the buy back rate has declined.

Price Per Point and Buy Back Rate 2017 and 2018

In our last ROFR report for 2017, we were speculating whether Disney would become more aggressive with buying back Grand Floridian, Grand Californian and Polynesian given the substantial direct price increases for those resorts in January, which pushed all 3 over $200/point.

While it doesn’t look they are getting very aggressive with buying back those resorts, they did buy back 1 Grand Californian contract in January, which is 1 more than they bought back the entire year of 2017.  So, while Disney may not get aggressive on buying back the three resorts that are now in excess of $200/point direct, the potential for a buy back is there, and it was virtually nonexistent before.

What is Right of First Refusal?

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 may take up to 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 2018

Please refer to the graph below for the total amount of buy backs at each DVC resort for contracts sold by DVC Resale Market through the month of January in 2018:

Number of Contracts Disney Excercised ROFR on in 2018

Details on DVC Buybacks

In January, DVC Resale Market had buy backs of Animal Kingdom, Boulder Ridge, Grand Californian, Old Key West and Saratoga Springs.  Animal Kingdom led the way with 40% of the buy backs, and notably had a buyback as high as $100/point.

Details on the contracts bought back in January are below:

Resort $/Point Pts. on Contract Price Closing Costs Paid by ’18 Dues Paid by Use Year Point Availability
Animal Kingdom $100 160 $16,000 Buyer Pro-Rate Feb. 84 pts. ’18 + 160 pts.’19
Animal Kingdom $95 160 $15,200 Buyer Buyer Feb. 160 pts.’18 + 160 pts.’19
Animal Kingdom $97 220 $21,340 Buyer Seller Feb. 0 pts.’18 + 220 pts.’19
Animal Kingdom $99 240 $24,480 Buyer Buyer Aug. 240 pts.’18 + 240 pts.’19
Boulder Ridge $93 150 $13,950 Buyer Seller Mar. 0 pts.’18 + 150 pts.’19
Grand Californian $165 100 $16,500 Buyer Buyer Apr. 100 pts.’18 + 100 pts.’19
Old Key West $82 150 $12,300 Seller Buyer Jun. 150 pts.’18 + 150 pts.’19
Old Key West $85 150 $12,750 Buyer Buyer Sept. 150 pts.’18 + 150 pts.’19
Saratoga Springs $87 350 $30,450 Buyer Buyer Feb. 350 pts.’18 + 350 pts.’19
Saratoga Springs $89 200 $17,800 Buyer Pro-Rate Mar. 78 pts.’18 + 200 pts.’19

Buy Back Rates for Disney Vacation Club Resorts

The table below shows the percentage of buy backs for all 5 different resorts purchased back in January:

Resort Buy Backs Number Sold Percentage Bought Back
Animal Kingdom 4 60 6.7%
Boulder Ridge 1 9 11.1%
Grand Californian 1 15 6.7%
Old Key West 2 19 10.5%
Saratoga Springs 2 63 3.2%


Learn more about buying and selling with DVC Resale Market.


  • Sarah Elliott
    March 30, 2018

    How many of the 61 SSR contracts that passed ROFR we’re in the $88-$95 price range?

    • Nick Cotton
      April 1, 2018

      Sarah, there were 10 SSR contracts sold in that range in January that were waived.

  • Kerry Rowe
    February 14, 2018

    Do we have any information (or even ideas) on how a stripped vs a fully loaded contract does?

    And I agree with Darrell— I can’t believe they’re not buying back more VGF— if the waitlist is closed, they are missing many opportunities to make money here, and that just doesn’t seem like them!

    • Nick Cotton
      February 14, 2018

      Kerry, we do post the point availability of the contracts bought back to give our readers an idea. Typically, we have noticed contracts that are more loaded being more attractive for buy backs, but secondary to price.

  • Darrell White
    February 14, 2018

    Interesting they havent started buying on the grand floridian yet. My guess is that it is coming.

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