Disney is now adopting the timeshare industry's repugnant practice of artificially reducing the value of resales. That's surprising and very disappointing.
In the past, DVC treated developer and resale members/owners exactly the same. It was one of the ways in which DVC demonstrated the highest level of integrity in the timeshare industry.
DVC announced today that as of March 21, 2011, new DVC resale members/owners will no longer be able to use their DVC points for the Concierge Collection (luxury hotels), the Disney Collection (DCL cruises and non-DVC Disney resorts) or the Adventurer Collection (active vacations). Resale buyers will still be able to use their DVC points for DVC resorts and timeshare exchanges through RCI and two smaller timeshare entities, with no change in the rules.
Disney's new policy is not as obnoxious as Marriott's policy of extracting substantial money from resale buyers of "beneficial interests" (Marriott Destination Club Trust points) to make those points normally usual for Marriott Vacation Club resorts. At least the ability to use DVC points for DVC resorts is built into the points and conveys fully to resale buyers.
The ironic thing is that when resales are artificially made less desirable, the people who lose the most are those of us who bought from the developer. We now own something that sells at a lower price than it should. So if we want to sell (or need to sell), we get less than we should. On the other hand, the resale buyer pays what it's worth. Because it's worth less (or perceived to be worth less), the resale buyer pays less. It's a bad deal for the developer customer and a good deal for the resale customer.