- Joined
- Jul 10, 2008
- Messages
- 3,550
- Reaction score
- 1,295
- Points
- 548
- Location
- Las Vegas, NV
- Resorts Owned
-
Marriott: Resorts and Destination Club Points;
Westin Kierland Villas;
HGVC Flamingo & Blvd;
Hyatt Pinon Pointe
I am happy to share that I recently completed the sale of our Welk Platinum Points back to Welk Resorts. I was pleasantly surprised that they have an organization that works with them to complete the transaction in a very easy and painless process.
A bit of background. We bought a resale Welk Resorts 2BR unit in Escondido in the early 2000's. In 2010 we decided to transition to their points program. We were required to give up our 2BR fixed week unit, which we actually liked quite a bit, but didn't provide the flexibility we wanted. We received 240k points in exchange and they charged us $10k to make the conversion and add an additional 60k points. In hind site, we probably shouldn't have done it, but we did and benefited from the flexibility (our kids are on their own and no longer travel with us). Note, this conversion/purchase was before we found TUG.
Since then, we used our ownership to our maximum benefit and over our entire ownership saved a great deal of money. However, we found TUG and started upgrading our ownership by buying Marriott and Westin on the resale market. We are very happy with those systems and units and are now transitioning to a retired/semi-retired lifestyle/budget. So, we decided we needed to reduce our ownership.
Reviewing Redweek, TUG, etc. for sales of Welk points, I realized that there weren't many sales and most of the asking prices were very unrealistic. All said, I figured we would only get $3-4k at most. So, I called Welk to confirm what transfer fees would be due if I transferred/sold it to someone other than family (our kids didn't want it). They transferred me to Premier Vacation Ownership, which is a separate company founded by the leader of Welk Resorts. They told me they would buy it from me for $2,800 with no fees. Of course, they will turn it over to Welk which will turn around and sell the points to some newbie for $30-50k. They also said they would reimburse us for our 2015 MF's if we hadn't already used our 2015 points, which we hadn't. I was very surprised on both fronts and after discussing it with my DW, decided to move forward. The paperwork was short and easy and we received a check within 30 days. I may (and I stress may) have received a bit more for it on the open market, but given the ease and likelihood that it wouldn't be much more, we are happy with the process and result.
We enjoyed our Welk ownership, but are happy we were able to adjust our portfolio and can now focus on our remaining resorts/programs.
Thanks again for all of the knowledge that fellow Tuggers have shared over the years, and helped me learn more about timesharing.
Best regards.
Mike
A bit of background. We bought a resale Welk Resorts 2BR unit in Escondido in the early 2000's. In 2010 we decided to transition to their points program. We were required to give up our 2BR fixed week unit, which we actually liked quite a bit, but didn't provide the flexibility we wanted. We received 240k points in exchange and they charged us $10k to make the conversion and add an additional 60k points. In hind site, we probably shouldn't have done it, but we did and benefited from the flexibility (our kids are on their own and no longer travel with us). Note, this conversion/purchase was before we found TUG.
Since then, we used our ownership to our maximum benefit and over our entire ownership saved a great deal of money. However, we found TUG and started upgrading our ownership by buying Marriott and Westin on the resale market. We are very happy with those systems and units and are now transitioning to a retired/semi-retired lifestyle/budget. So, we decided we needed to reduce our ownership.
Reviewing Redweek, TUG, etc. for sales of Welk points, I realized that there weren't many sales and most of the asking prices were very unrealistic. All said, I figured we would only get $3-4k at most. So, I called Welk to confirm what transfer fees would be due if I transferred/sold it to someone other than family (our kids didn't want it). They transferred me to Premier Vacation Ownership, which is a separate company founded by the leader of Welk Resorts. They told me they would buy it from me for $2,800 with no fees. Of course, they will turn it over to Welk which will turn around and sell the points to some newbie for $30-50k. They also said they would reimburse us for our 2015 MF's if we hadn't already used our 2015 points, which we hadn't. I was very surprised on both fronts and after discussing it with my DW, decided to move forward. The paperwork was short and easy and we received a check within 30 days. I may (and I stress may) have received a bit more for it on the open market, but given the ease and likelihood that it wouldn't be much more, we are happy with the process and result.
We enjoyed our Welk ownership, but are happy we were able to adjust our portfolio and can now focus on our remaining resorts/programs.
Thanks again for all of the knowledge that fellow Tuggers have shared over the years, and helped me learn more about timesharing.
Best regards.
Mike