Converting points to weeks for resale. Any advice?

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robertgrieves

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Converting points to weeks for resale. Any advice?
« on: February 12, 2007, 23:59:26 »
Hello,

I'm hoping for a little advice from fellow forum members regarding selling timeshare weeks.

I currently have 6500 Sunterra points that we wish to dispose of. We need to convert the points back into weeks.

In order to maximise our potential sale value is it better to split the 6500 points over 2 weeks?  This is the list of available weeks we have been provided with:

Benal Beach
   Studio    - 2000 - 3500 points depending on specific week (low-mid-high season)
   1 bedroom - 3000 - 4500

Cala Blanca
   1 bedroom - 3000 - 4000
   2 bedroom - 4000 - 5000

Santa Barbara
   1 bedroom - 4500 - 5500
   2 bedroom - 5500 - 6500

Sunset Bay
   Studio    - 1500 - 2000
   1 bedroom - 2000 - 2500
   2 bedroom - 2500 - 3500

Woodford Bridge C.C.
   1 bedroom - 3000 - 5500
   2 bedroom - 4000 - 7500

Pine Lake Resort
   2 bedroom - 3500 - 6500


Which of these resorts are more saleable/popular etc?  Any to avoid?  Should I opt for one resort at 6500 points or for 2 (3000 + 3500) for example?

Any advice from members who have been in a similar situation would be greatly appreciated.

Regards

Robert Grieves


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Converting points to weeks for resale. Any advice?
« Reply #1 on: February 13, 2007, 09:47:19 »
I have been out of the loop for some time as far as values are concerned but normally UK resorts fetch the best return. I think this is because the exchange values are higher.

One strong bit of advice I have for you though is do not pay any resale companies any money up front for registering your timeshare. If you want advice on resale I think the TCA is your best port of call.

FTB

Offline Mavo

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Converting points to weeks for resale. Any advice?
« Reply #2 on: February 13, 2007, 10:09:20 »
I agree with Frank re. the UK resorts.


We never used to see Woodford Bridge come up as late availability and rarely did we see Pine Lake.

 It may be worth doing a little research on the Sunterra Website by looking at availability at different times of the year for various resorts. Good luck with your choice.
tomeluk

Bad Hair Day

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Converting points to weeks for resale. Any advice?
« Reply #3 on: February 16, 2007, 21:33:06 »
quote:
Originally posted by robertgrieves

Hello,

I'm hoping for a little advice from fellow forum members regarding selling timeshare weeks.

I currently have 6500 Sunterra points that we wish to dispose of. We need to convert the points back into weeks.

In order to maximise our potential sale value is it better to split the 6500 points over 2 weeks?  This is the list of available weeks we have been provided with:

Benal Beach
   Studio    - 2000 - 3500 points depending on specific week (low-mid-high season)
   1 bedroom - 3000 - 4500

Cala Blanca
   1 bedroom - 3000 - 4000
   2 bedroom - 4000 - 5000

Santa Barbara
   1 bedroom - 4500 - 5500
   2 bedroom - 5500 - 6500

Sunset Bay
   Studio    - 1500 - 2000
   1 bedroom - 2000 - 2500
   2 bedroom - 2500 - 3500

Woodford Bridge C.C.
   1 bedroom - 3000 - 5500
   2 bedroom - 4000 - 7500

Pine Lake Resort
   2 bedroom - 3500 - 6500


Which of these resorts are more saleable/popular etc?  Any to avoid?  Should I opt for one resort at 6500 points or for 2 (3000 + 3500) for example?

Any advice from members who have been in a similar situation would be greatly appreciated.

Regards

Robert Grieves



Hi Robert,has the advise come from Sunterra to convert your points to weeks so you can sell them?
Have you looked at http://www.timesharetalk.co.uk/forum/topic.asp?TOPIC_ID=4637

And http://www.timesharetalk.co.uk/forum/topic.asp?TOPIC_ID=2226

We have 40 GVC/Sunterra points which have been worthless.

robertgrieves

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Converting points to weeks for resale. Any advice?
« Reply #4 on: February 16, 2007, 22:49:09 »
Hi,

Thanks for the reply. Yes it is Sunterra who have told us that we need to convert back to weeks in order to sell.  Our resort is La Quinta in Spain.

I've had a look through the 2 links that you gave me and I'm now a little concerned. I'm new to this forum and therefore I wasn't aware of the Sunterra scam other than the fact we always have big problems finding availability at any resort.

We are not Scottish members but I'm a little worried that our points may be worthless. I don't suppose someone could very briefly summarise what has been going on reference mis-selling etc?

Any help would be greatly appreciated.

Offline Mavo

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Converting points to weeks for resale. Any advice?
« Reply #5 on: February 17, 2007, 10:08:13 »
quote:
Originally posted by robertgrieves

Hi,

Thanks for the reply. Yes it is Sunterra who have told us that we need to convert back to weeks in order to sell.  Our resort is La Quinta in Spain.

I've had a look through the 2 links that you gave me and I'm now a little concerned. I'm new to this forum and therefore I wasn't aware of the Sunterra scam other than the fact we always have big problems finding availability at any resort.

We are not Scottish members but I'm a little worried that our points may be worthless. I don't suppose someone could very briefly summarise what has been going on reference mis-selling etc?

Any help would be greatly appreciated.




You say our resort is La Quinta -- What do you mean by that? If you exclusively have points you do not have a specific resort.

I do note that Sunterra have advised you to convert to a week. Do you think that this is so you can sell to people other than members?
(Few members are buying points at the moment)

I also note that they will only offer you a week at a very small selection of resorts and these resorts would not be particularly attractive to potential buyers.

Why not ask to exchange your points for a week at La Quinta?
tomeluk

krazykats

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Converting points to weeks for resale. Any advice?
« Reply #6 on: February 17, 2007, 11:06:45 »
quote:
Originally posted by Mavo

I agree with Frank re. the UK resorts.



I agree with Uk resorts for exchange value but not in regard to using as a resale. The management fees for just one week would put me of buying. Low management fees are allways a help.
And don't pick low season weeks if you are trying to sell.
Do some research on the internet amongst reputable resale agents.
Also if you have paid your fees for this year , why not use your points for some holidays or see if anyone wants to rent your points or booked weeks.
Hope this helps.
Kathy

Offline Mavo

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Converting points to weeks for resale. Any advice?
« Reply #7 on: February 17, 2007, 11:16:23 »


 Kathy wrote.
Also if you have paid your fees for this year , why not use your points for some holidays or see if anyone wants to rent your points or booked weeks.
Hope this helps.



 I think that this is a particularly good idea. If you book a week you can then advertise it anywhere -- here, the other sites, even on Ebay and it gives you time to see which way the wind is blowing re the new impending ownership, who may come in with different policies which are more compatible with the membership.
 OK I`m a dreamer on the last score but you never know.
tomeluk

Bad Hair Day

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Converting points to weeks for resale. Any advice?
« Reply #8 on: February 17, 2007, 11:19:03 »
quote:
Originally posted by robertgrieves

Hi,

Thanks for the reply. Yes it is Sunterra who have told us that we need to convert back to weeks in order to sell.  Our resort is La Quinta in Spain.

I've had a look through the 2 links that you gave me and I'm now a little concerned. I'm new to this forum and therefore I wasn't aware of the Sunterra scam other than the fact we always have big problems finding availability at any resort.

We are not Scottish members but I'm a little worried that our points may be worthless. I don't suppose someone could very briefly summarise what has been going on reference mis-selling etc?

Any help would be greatly appreciated.




My husband and I have been fighting our battle for 11 years with Sunterra as we were led to believe our 40 points would get us a holiday any time, any where, any size of apartment.
When we went on our free holiday we were told 40 points was not enough, you can imagine how we were feeling.
On our return we complained and complained to deaf ears, no one was interested.
Whenever we tried to book using our 40 points we were told no availability so we gave up in 1999 and put the whole thing down to a bad experience and a hard lesson learned.
In 2000 we read in the news paper about other families in the same situation as us and if interested to get in touch with The Timeshare Consumers Association who then put our case forward to Lawyers in Glasgow and we became a Group Action which helped to fund two test cases to be put forward in The High Court In Edinburgh.
We were advised by our legal team, to be in the Action all management fees had to be paid to date but not to use our holidays or attend any presentations as this would look as if we were accepting the contract.
After about 3-4 years of paying management fees and legal fees we were told it would take each family around £2000 to take the case further and some people felt they were out of pocket enough and decided not to pay out any more money SO because there was a conflict of interest our legal representatives decided to drop the case as was their right advised by the Law Society.
Here we are back at stage one only more out of pocket.
My advice to others STAY CLEAR OF THIS COMPANY and don’t be taken in like we were.
Have a look at www.scambustersuk.com




Offline Mavo

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Converting points to weeks for resale. Any advice?
« Reply #9 on: February 17, 2007, 12:13:13 »
The mis-selling has been going on for many years and it is alleged that it is still going on. How it seems to have worked is that you are sold, say 40(00) points here in the UK and along with that 40(00) there is a "free holiday" to a nice resort in Europe where you can sample the standards that you can expect to be able to use in the future. The problem is that on your obligatory presentation during this "free holiday" it is pointed out to you that really you do not have enough points to be able to stay in a resort of that stature at a time of the year that you would wish to holiday. The hope is then that "they can do you a special deal" and sell you more points.

 The other issues are that it has been alleged that the former CEO, Benson colluding with others then used this system to avoid tax implications here in the UK and also over in Spain. It has also been alleged that along with this there was a private rental scheme being run and that this private rental scheme meant that many members found availability a major problem and the late availability at half points (which was a big selling point for the reps at presentations) turned out to be virtually none existent as it was all being used elsewhere. Many disgruntled members unable to take their promised holidays rightly claimed they had been mis-sold.
 None of the money from the private rental scheme found its way back into the Sunterra coffers so although wear and tear was going on monies were not generated to do maintenance work or purchase any replacements needed because of this wear and tear. So the members fees were increased year on year over and above inflation.
 
 Benson was sacked for "cause" Others have been removed. We now have much better availability suddenly appearing. But we still have the mis-selling which has not been addressed and those mis-sold to are being ignored despite numerous letters to Sunterra.

 I am sure that there will be others who will have pieces to add to this explanation as to what has gone on in the past.
tomeluk