There shouldnt be any economic impact on Luxury link. Property buying activities are not as much these used to be one year back but selling offers have increased manifolds. This is the high time for the buyers to get the best deal as there are many needy property sellers. With the increasing popularity of Luxury link, every offer naturally appears on a vast canvass, so one always may expect good deal.
We have purchased several packages through Luxury Link over the past few years and have had great experiences. However times have changed. I believe that the "list" prices for the packages todayare wildly inflated and that the minimum bid prices are above market, thus few if any buyers on many packages. Here is one example. We stayed at Caesar Augustus on Capri in Sept 2008 - we purchased the package on Luxury Link. Great property and good value at that time. The package we purchased, 3 nights, etc, is being listed now. We purchased it last year for $1400 and minimum bid was around $900. This same package now has a minimum bid of $1550 and it is not quite as good as what we purchased. Since last year however two fundamental changes have taken place that should have reduced the minimum bid: one the dollar has strengthened significantly meaning that the euro price should have come down in dollars, and two the economy has really gone into the tank and many people are simply not traveling. So with the dollar and the significant decline in demand I would expect to see the minimum bid at around $900 but instead it is $1550.
Just one example, but I am seeing it across the board on Luxury Link. "List" prices and minimum bids are simply out of line with the market.
jim244a, I think you make some good points in your last post. Unfortunately, we don't really know how the calculations for pricing are determined at LL. There must be sound logic on their part and theycertainly have the resources to accurately and timely track the selling trends.
All of that aside.
How does the disparity in the example you cited affect your inclinations to participate in shopping and possibly bidding on currently presented auctions here? Are simply not shopping or considering any purchases?
Are you still a potential or active participant and simply changed your geographic preferences, possible to non Euro based countries?
I am not using Luxury link as much as we have in the past simply because they have lost their value edge.I don't think I am alone in this as I see lot's of packages closing with no bid. Luxury Link is simply out of step with the economic environment.
jim244a and mountie, I shop for everything for my family. Price is not always the final factor for us. On the other hand, I still enjoy shopping at high quality brick & mortar and website locations, whether I buy there or not.