Are all WorldMark memberships the same?

[Tokapeba]

I'm in the process of buying my first WorldMark membership 14K and am wondering if there is anything I should look out for. From what I can tell there are 2 kinds of memberships.
1) Regular
2) No Housekeeping
Is this true?

I was on the WorldMark owners site today and it looked like there was another level if you owned 20K or above. Is there another level? If so what are the benefits?

Andy.

 

[BocaBum99]

Nope, there are 4 types.

1) Premier
2) non-premier
3) no housekeeping
4) travelshare.

They are all different.

 

[RichM]

I don't think I'd consider "TravelShare" a separate type of WorldMark account since it's just a developer designation for a current program that may not exist in perpetuity. Basically, TravelShare is just an add-on set of non-guaranteed features over-and-above a premier WorldMark membership. Since you can't transfer any WorldMark account to anyone else except a family member and retain any TravelShare qualification, it's no different than any other resale premier account.

Also, technically, a No-Housekeeping account is just a really old premier account that was drawn up under a previous version of the Vacation Owner Agreement which didn't include the clauses about having to pay housekeeping fees for bookings beyond the free housekeepings included at your credit level.

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[Tokapeba]

Nope, there are 4 types.

1) Premier
2) non-premier
3) no housekeeping
4) travelshare.

They are all different.

What is the differance between Premier and Non-Premier? Should I make sure my unit is at least Premier?

Andy.

 

[RichM]

See PerryM's response here: http://www.tugbbs.com/forums/showthread.php?t=41324

The "standard" (or non-premier) accounts are kinda like big foot. The salespeople tell you they're real, but nobody can ever confirm seeing one "in the wild".


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[BocaBum99]

I don't think I'd consider "TravelShare" a separate type of WorldMark account since it's just a developer designation for a current program that may not exist in perpetuity. Basically, TravelShare is just an add-on set of non-guaranteed features over-and-above a premier WorldMark membership. Since you can't transfer any WorldMark account to anyone else except a family member and retain any TravelShare qualification, it's no different than any other resale premier account.

Also, technically, a No-Housekeeping account is just a really old premier account that was drawn up under a previous version of the Vacation Owner Agreement which didn't include the clauses about having to pay housekeeping fees for bookings beyond the free housekeepings included at your credit level.

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Rich,

They are all different and provide different features and benefits. The distinctions make a difference to various owners and have differing level of interest.

It's like if someone asked if there are any different ice creams at Baskin Robbins. You'd answer "no, their all the same and based on the same basic ingredients." But, each flavor is indeed different.

 

[RichM]

All I'm saying is that chronologically, there were:

1. Premier Accounts bought early on when it was Club Esprit that came with No Housekeeping charges.

2. Premier Accounts bought either from the developer or resale after after HK charges were instated and prior to 11/5/2006 that are not TravelShare eligible without a minimum 5K developer upgrade purchase by the current owner, thus converting it to #3 below.

3. Premier Accounts bought after 11/5/2006 that are TravelShare eligible for the current owner and can only be transferred to immediate family otherwise the TravelShare eligibility is lost.

...and then there's the "unicorn" Standard membership...

But, if you were to buy a resale account, today, your choices are:

1. Premier NHK (with no TravelShare eligibility)
2. Premier with housekeeping charges (with no TravelShare eligibility)

...or you can try and find a unicorn...

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[PerryM]

#5 - Hybrid account

I have a standing $25 reward to the first person who can prove that a WM Standard Membership exists. So if you want to make some big bucks just contract me with proof that the Standard account exists today. This would be a copy of the membership form that was signed and notarized by the buyer and seller. Just imagine what you could do with that $25. (I figure that the “Trophy” value of finding the Standard Membership is well worth the big bucks I’m offering. I have a place on my office wall where I will proudly display the document)

I’d add a fifth account:
#5 hybrid – mixture of #1 - #4 and renting credits for use without buying them

We are so geared to own WM credits that renting them is much more efficient. Here is an example:

12,000 WM account bought at 75¢ each costs $9,000 MF is about 4¢ a credit (really $600 for this account; 4¢ per WM credit for larger accounts )

Scenario using #5 Hybrid account:

6,000 WM account bought at 75¢ a credit = $4,500.

Invest the other $4,500 in PayPal paying 5% and at 25% tax rage = $169 per year interest income.

Rent WM credits at 8¢ each or 2,100 WM credits rented from other WM owners.

Rent another 3,900 at 8¢ for out of pocket cash = $312. Out of this 8¢, 4¢ is MF so the only extra expense is $156 per year.

So with a hybrid account those 12,000 WM credits cost only $4,500 to buy, $4,500 safely away in PayPal and only an extra $156 expense above and beyond owning the 12,000 credits outright. This has got to be one of the best deals going in the timeshare world.

No other developer that I’m aware of allows owners to do this year after year – why own when renting ownership is much cheaper. The developer actually encourages this practice!

 

[cotraveller]

...or you can try and find a unicorn...

Found Them

Couldn't resist.

 

[RichM]

I doubt Perry will pay $25 for that.


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[PerryM]

My trophy wall...

I doubt Perry will pay $25 for that.

You got that right. I collect trophies and there is one spot on the wall open, right next to the Jackalope, which is my prize possession of all time. This Standard WM membership will be sought after by many collectors and I’ve got great plans for it.

I actually have a 500,000,000,000 Dinar Note which was minted in 1993 in Yugoslavia – it was worth about $6 US. That legal tender reminds me everyday of how foolish governments are.

P.S.
Now you can say you know a Billionaire

 

[Tokapeba]

Gold VIP Membership

What about the 20K threshold to become a “Gold VIP” I saw in the WorldMark owner’s forum? Here is the quote from there. Can a Gold VIP be transferred?

Andy.

Ok,

I've spoken with a total of 3 people at "Lying Scumbags Inc" now and they all said the same thing. In the 3rd case, I had them check with their supervisor to confirm that it was correct, so, I'm almost sure that, at least for now, this is true:

Anyone who had over 20,000 credits before Nov 5th is a "Gold VIP" member and still has their free movie, VIP phone line etc...

Anyone who didn't have over 20,000 credits before Nov 5th isn't and won't ever be able to become a 'gold status' member.

So, at least, for now, those who had it aren't losing it, but no one else can get it, as far as "Gold VIP" goes, maybe it will be like NHK and stick around for those who had it when it went it, maybe LS Inc will get rid of it next week, but for now, it's still there.

I'm going to test this tonight when I check in and ask about my "Free Movie" and I'll get back to you guys tomorrow

 

[RichM]

Not sure if anyone would really know for sure unless they tried to transfer a 20K+ account lately. The "Gold VIP" never seemed to be a very official VIP level - not like TravelShare, anyway - all you got was a free movie rental during your stay and a separate phone line for making reservations that supposedly answered sooner. But, who knows now with the new TravelShare program whose participants also supposedly have priority phone lines, all of which seem contrary to WorldMark Guideline C.1: "Requests for reservations will be honored on a first-come, first-served basis.."

Since none of the VIP stuff is part of the actual WorldMark ownership, and all provided by the developer, its availability and continued existence is completely at their (the developer's) whim.

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[Tokapeba]

I found the elusive "BIG FOOT"

I have an offer on a WorldMark membership and the seller insisted on faxing me a copy of his contract. He wouldn't let me contact WorldMark and keeps wanting to fax me stuff. I've been a little frustrated and I think I found BIG FOOT. Pay up perry. It says that it is a "Standard Ownership" I can fax it to you for proof if you would like.

Does anybody have an idea on what it would be worth?

Andy.

 

[PerryM]

My trophy wall will have a new addition...

I have an offer on a WorldMark membership and the seller insisted on faxing me a copy of his contract. He wouldn't let me contact WorldMark and keeps wanting to fax me stuff. I've been a little frustrated and I think I found BIG FOOT. Pay up perry. It says that it is a "Standard Ownership" I can fax it to you for proof if you would like.

Does anybody have an idea on what it would be worth?

Andy.

Fax it to 815.572.0997 - all 4 pages (With names redacted) and I'll gladly send $25 via PayPal - just PM with the eMail address.

I really should contact WN to confirm, but for $25 I'll be happy with the document - it has a place of honor on my wall.

I've been working with the guy on eBay who is/was selling a Standard membership and he's still looking into it.

Can you get some info as to who sold it to him? Did he not buy "day one" and came back and they sold it to him?

P.S.
I get the movie rights.

 

[Tokapeba]

I'll give you back the $25 for your opinion.

Hi Perry;

Did you receive it and it was only 3 pages. I kept getting stuck, but it finally went through.

Any thoughts on what the differances are? I'll give you back the $25 for your opinion.

Andy.

 

[PerryM]

1/2 reward?

Hi Perry;

Did you receive it and it was only 3 pages. I kept getting stuck, but it finally went through.

Any thoughts on what the differances are? I'll give you back the $25 for your opinion.

Andy.

Hi Andy,
I got the 3 pages, but it’s a little confusing.

“WorldMark, The Club, a California nonprofit mutual benefit corporation (Club), and TrendWest Resorts, Inc. an Oregon corporation (TRI), agree to sell to the undersigned Owner 12,000 Vacation Credits as a Standard Ownership in the Club, and Owner agrees to purchase and hold the Vacation Credits and Ownership in the following terms and conditions. By initializing here (initials: ______), Owner elects the Premier Ownership option and TrendWest agrees to waive the additional fee of $???? (Redacted)

So it looks like Wyndham (TrendWest sold out to them) is converting the Standard Membership to a Premier Membership. The sales document is dated 3/8/07.

Now it does talk about Standard ownership and Premier ownership in later paragraphs. It’s confusing.

The owner needs to clarify what Wyndham is doing.

If it was a Standard ownership and is now being converted to a Premier ownership I don’t know if my $25 reward applies. If the Standard ownership is passed on then I do owe you $25.

This is a big point to the seller too. The seller needs to find out what is happening.

If it is a conversion from Standard to Premier ownership that’s great for the buyer and means that WN is retiring Standard ownerships.

If true, I will gladly pay $12.50 (1/2 my $25 reward). I am happy to do so – I have proof positive that Standard ownerships are being converted to Premier ownerships and this is great news. I have a rare document - maybe worth big bucks on eBay.

So if you can ask the seller to call WN and confirm this I will open my bank vault and get ready to send you the money.

 

[Tokapeba]

Hi Perry;

The reference to March 8, 2007 is when the timeshare listing company received it from the seller to forward it to me. If you look on page 3 it says that the annual dues will commence on 6/1/2003, so this membership is 4 years old.

If this is a standard membership and it's not being converted is it worth having?

Andy.

 

[PerryM]

Risk and reward...

Hi Perry;

The reference to March 8, 2007 is when the timeshare listing company received it from the seller to forward it to me. If you look on page 3 it says that the annual dues will commence on 6/1/2003, so this membership is 4 years old.

If this is a standard membership and it's not being converted is it worth having?

Andy.

I'm assuming that WN is converting it to a Premier account so yes at the right price it’s worth buying. I just got an offer from a well known WM broker for 69¢ WM credits yesterday - this is for a "Fully Loaded" account. This account I'd offer 50¢ due to the risk.

However, I’d make doubly sure that’s what WN is going to do. If it remains a Standard membership I would not touch it myself - I don't think there are any past sales to act as a guide as to its worth.

I would like to know how this turns out, and I will honor my reward. (I know you probably don't care, but I like the idea, myself)

 

[FlyKaesan]

found non premiere account...

Q: Is this a premier membership? Mar-14-07
A: No, it's not premiere. Thanks, Melissa


http://cgi.ebay.com/6000-Worldmark-...094587001QQcategoryZ15897QQrdZ1QQcmdZViewItem

Perry?

 

[PerryM]

The reward is history...

Q: Is this a premier membership? Mar-14-07
A: No, it's not premiere. Thanks, Melissa


http://cgi.ebay.com/6000-Worldmark-...094587001QQcategoryZ15897QQrdZ1QQcmdZViewItem

Perry?

Many folks selling things on eBay really have no idea what they are selling; WM owners are no exception. I'd have to see a fax of the ownership papers. But I have found my Standard Ownership already and my $25 reward does not apply anymore - sorry guys.

I am satisfied the Standard Ownership did exist and I believe Wyndham is converting them to Premiere Ownerships just to keep bookkeeping easier. In the case of the first Standard Ownership I'm still trying to find out what Wyndham is really doing - if it is a new procedure.

 

[spatenfloot]

Either way, they aren't selling them now despite what many of the saleweasels tell you.