# Is Diamond buying back resale?



## riperoo (Sep 4, 2010)

Hi all, I have a fixed week at Williamsburg, greensprings, that I am thinking of letting go in an effort to purchase points in another system. I know it isn't worth a whole heck of a lot, but was wondering if Diamond is doing any buy backs at the moment?? or is resale on the open market the only option, or possibly dontating. I would appreciated you thoughts!

[Specific info. deleted.] We really enjoy it, but the kids are getting older and we are interested in something with a little more flexibility.


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## fnewman (Sep 6, 2010)

I'm not aware of any buybacks in those locations, but a call to DRI may confirm.  If additional flexibiity is your goal, I would suggest considering joining the Club, bringing those weeks into the US Collection in the process.  That way you can use the point value of all that anywhere DRI has capacity.  For example, I stayed in Paris for a week this last June using my DRI points.  Yes, it would cost something but so will starting over in another system.


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## DeniseM (Sep 6, 2010)

riperoo said:


> I know it isn't worth a whole heck of a lot, but was wondering if Diamond is doing any buy backs at the moment?? or is resale on the open market the only option, or possibly dontating.



Right now, because of the economy, most timeshares are selling for 0-10% of original retail.  Developers are having trouble selling their inventory, and most don't want more.  I would be surprised if Diamond would "buy" it back, but they might take it back for free, if you ask them - but most companies are getting more offers than they can accept, so probably not.

Right now, the companies that accept donations are getting far more donations than they can use, so they are charging $2,000 - $3,000 to "take your timeshare off your hands."

The first thing you want to do is to see what your timeshare is selling for on the resale market.  

1) Register with eBay
2) Log into eBay
3) Search for the resort by exact name
4) Click on "completed listings" on the menu on the left

(Be sure you look at the completed listings - those are actually SELLING prices - you will find asking prices all over the place, but what really counts is what they actually sold for.)​
If you find that it has no resale value, and you don't want to pay someone to take off your hands, you might want to consider giving it away.
*
Whatever you do, don't pay someone a large upfront fee to sell it for you - that is always a scam!*

There are two places on TUG where you can give away your TS's for free (no charge for the Ads.)  There are other cheap and free sites on the internet, as well.

TUG Marketplace - the only cost is your TUG membership - $15 (List it for $1 and it will automatically go in the Bargain Basement Ads.)

Bargain Deals  - Totally FREE! - just write a simple post with all the pertinent info.  In your post, include the following info.:
-resort name
-unit size
-season owned
-maintenance fee
-current reservations​
To make it more attractive I would:

1) Pay 2010 (and possibly 2011) maintenance fees and don't ask for reimbursement.

2) Pay for the title transfer (you can get a simple professional transfer for about $100)  I've used this licensed document Prep. company and the owner is a Tugger. - Note, this is my personal recommendation, not as a representative of TUG.

3) Reserve a popular holiday week in 2010 or 2011 for the new owner​
Good luck!


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## riperoo (Sep 7, 2010)

Hey thanks all, still on the fence as to what to do. I may just hang on to it, rent it friends or something. I am going to post it up on Tug and few other websites, see if anything shakes out.


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## got4boys (Sep 14, 2010)

*Diamond Resorts Reconveyance Department*

Ask for the Diamond Resorts  Reconveyance Department to give back. The fee is approximately $80 for them to take them back. 

Peggy



riperoo said:


> Hi all, I have a fixed week at Williamsburg, greensprings, that I am thinking of letting go in an effort to purchase points in another system. I know it isn't worth a whole heck of a lot, but was wondering if Diamond is doing any buy backs at the moment?? or is resale on the open market the only option, or possibly dontating. I would appreciated you thoughts!
> 
> [Specific info. deleted.] We really enjoy it, but the kids are getting older and we are interested in something with a little more flexibility.


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## foreverloves (Sep 16, 2010)

I was going to add, I know that certain affiliated resorts deeds (such as Royal Dunes in HHI) are acquired by Diamond. I saw their deeds filed when I was searching for my own.  I know they are doing this in an effort to gain control of the HOA, so it's a sinister reason, but they may be taking back other deeds too.


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## Maple_Leaf (Sep 17, 2010)

*I wouldn't trade real estate for Diamond's Confederate Money*



fnewman said:


> I'm not aware of any buybacks in those locations, but a call to DRI may confirm.  If additional flexibiity is your goal, I would suggest considering joining the Club, bringing those weeks into the US Collection in the process.  That way you can use the point value of all that anywhere DRI has capacity.  For example, I stayed in Paris for a week this last June using my DRI points.  Yes, it would cost something but so will starting over in another system.



Deeded real estate is a tangible asset.  Points, like currency, are only as good as the entity backing their value.  I wouldn't trust Diamond as far as I could throw them to maintain the value of their points system.  Check this out from Bloomberg:

_Aug. 10 (Bloomberg) -- Diamond Resorts Corp., the time- share company with destinations in North America, Europe and the Caribbean, is marketing high-yield, high-risk debt as sales of the securities jumped to the most since March.

The company plans to sell $425 million of eight-year notes as soon as today, according to a person familiar with the transaction, who declined to be identified because terms aren’t set._

So Diamond is loading up the company's balance sheet with a bunch of junk debt.  I wonder what happens when interest rates go up.  Oh, I'm sure it will all work out OK.  :rofl:


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## fnewman (Sep 17, 2010)

Maple_Leaf said:


> Deeded real estate is a tangible asset. Points, like currency, are only as good as the entity backing their value. I wouldn't trust Diamond as far as I could throw them to maintain the value of their points system.


Very true - that is why I have maintained a split ownership of deeded property vs Trust points, although all are useable as Club points.  Given that the valuve of a "deeded week", as mentioned above, is only a little more than "$0", I figure the risk is minimal.  After all, if the Trust points became completely because worthless, at least I wouldn't have to continue paying the maintenance fees !!


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## pedro47 (Sep 17, 2010)

I would always retain my deed and just purchase The Club Points system.
This way if you later change your mind; you still own your fixed week at the resort and you would not own any points in The Club.


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## pgnewarkboy (Sep 28, 2010)

I agree that points without deeds is a big risk.  Inasmuch as you probably will get zilch for your williamsburg timeshare, you might be better off keeping it.  If you buy into another timeshare system you may very well be able to deposit those weeks into the Diamond system for points - if you belong to the Club. It is a good way to get the most benefit out of two systems.


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## glgrissom (Oct 13, 2010)

*Diamond deeded vs The club help needed today.*

[_Edited to delete duplicate post. Duplicates are not permitted on these forums._ Dave M, BBS Moderator]


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## pgnewarkboy (Oct 13, 2010)

To date, Diamond has not devalued their points to the detriment of DRI Club members.  Marriott has devalued their points several times since I have been a member of the Club with DRI  (about 10 years).  I understand that Hyatt has recently done the same thing.


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