Deeded Frenchman's Cove Value

[loumart]

Has anyone sold the Frenchman's Cove week? Can you share your experience? have not been able to find any sales data.

 

[Fido Chuckwagon]

Gold Season and below at least appears to be completely worthless, here’s a current eBay posting with a “Buy it now” price of $19 with Free Closing, meaning the seller is paying to get rid of it:

Marriott's Frenchman Cove Timeshare St. Thomas Virgin Islands Gold Season | eBay

Marriott's Frenchman Cove. Gold Season. Resort Transfer fee Week info Float week: 18-35 & 45-50. Perpetual Deed (Week#27/29 Unit#0642). TWO WEEKS PER YEAR. Resort Closings, Inc.

www.ebay.com

Given the extremely high maintenance fees I would prepare yourself for the likelihood that it is worthless. Have you contacted Marriott to see if they would accept a surrender? You can also try to give it away for free in the TUG giveaway forum. If Marriott will not take it back, and you cannot find someone to accept the deed, then your third option is to default on the maintenance fees and force Marriott to foreclose.

Whatever you do, do not engage the services of any timeshare exit or timeshare cancellation companies, they are all complete scams and will take your money and do nothing.

 

[TUGBrian]

have really only ever seen a lick of sale price for platinum weeks....

 

[loumart]

Thanks everybody. I just listed it on redweek for $250. It includes a booked week at the end of November. I think they have to verify it before it will appear. I will also list it here. I called sellmytimesharenow.com and they wanted $6,498 to list it! LOL. They "claimed" they just sold a silver week for $14,000 with gold and silver week sales going for more. That was an immediate NO. I then called a timesharebrokersales.com and spoke to Diane. They are a broker and only get paid on sale. She told me it was worth nothing and to try and surrender it to Marriiott. I called Marriott and they wont even accept it as a surrender!! WTF? I have owned this unit since pre-construction and really feel scammed by Marriott. I am a lifetime Gold elite member from all of my hotel stays. This has really tarnished my view of them.

Thanks for everyone's help.

 

[TUGBrian]

could have saved all that time and money and just posted it on TUG for free!

the most valuable part of that is the free use in november.

 

[Fido Chuckwagon]

Thanks everybody. I just listed it on redweek for $250. It includes a booked week at the end of November. I think they have to verify it before it will appear. I will also list it here. I called sellmytimesharenow.com and they wanted $6,498 to list it! LOL. They "claimed" they just sold a silver week for $14,000 with gold and silver week sales going for more. That was an immediate NO. I then called a timesharebrokersales.com and spoke to Diane. They are a broker and only get paid on sale. She told me it was worth nothing and to try and surrender it to Marriiott. I called Marriott and they wont even accept it as a surrender!! WTF? I have owned this unit since pre-construction and really feel scammed by Marriott. I am a lifetime Gold elite member from all of my hotel stays. This has really tarnished my view of them.

Thanks for everyone's help.

Try posting it in the TUG giveaway forum. If that doesn’t work, just default. It’s not the end of the world.

 

[davidvel]

Thanks everybody. I just listed it on redweek for $250. It includes a booked week at the end of November. I think they have to verify it before it will appear. I will also list it here. I called sellmytimesharenow.com and they wanted $6,498 to list it! LOL. They "claimed" they just sold a silver week for $14,000 with gold and silver week sales going for more. That was an immediate NO. I then called a timesharebrokersales.com and spoke to Diane. They are a broker and only get paid on sale. She told me it was worth nothing and to try and surrender it to Marriiott. I called Marriott and they wont even accept it as a surrender!! WTF? I have owned this unit since pre-construction and really feel scammed by Marriott. I am a lifetime Gold elite member from all of my hotel stays. This has really tarnished my view of them.

Thanks for everyone's help.

How did Marriott scam you? Did you not get what you bought (pre-construction) based on your contract documents? I'm far from a defender of MVC, but the fact the place lost all the value you paid should not require them to buy it back at the price you want.

If you bought a new car for 50,000 and the dealer would only by it back 20 years later for $2,000 did the dealer scam you?

 

[Fido Chuckwagon]

If you bought a new car for 50,000 and the dealer would only by it back 20 years later for $2,000 did the dealer scam you?

I don’t think MVC scammed op either, but that’s not the analogy. The analogy is that you leased a new car in a perpetual lease where the cost of the lease goes up 5 percent every year and when you ask the dealer to please just take the car back after you’ve spent $50,000 upfront and another $60,000 over 20 years they tell you to pound sand.

 

[davidvel]

I don’t think MVC scammed op either, but that’s not the analogy. The analogy is that you leased a new car in a perpetual lease where the cost of the lease goes up 5 percent every year and when you ask the dealer to please just take the car back after you’ve spent $50,000 upfront and another $60,000 over 20 years they tell you to pound sand.

They bought it, didn't lease it. Sure the maintenance expenses of the car could go up 5% every year. At some point the buyer feels the annual maintenance is more than the utility of the car, but the car still works pretty much like it did when it was bought. No one is taking it back, and no one promised to.

 

[Dean]

Thanks everybody. I just listed it on redweek for $250. It includes a booked week at the end of November. I think they have to verify it before it will appear. I will also list it here. I called sellmytimesharenow.com and they wanted $6,498 to list it! LOL. They "claimed" they just sold a silver week for $14,000 with gold and silver week sales going for more. That was an immediate NO. I then called a timesharebrokersales.com and spoke to Diane. They are a broker and only get paid on sale. She told me it was worth nothing and to try and surrender it to Marriiott. I called Marriott and they wont even accept it as a surrender!! WTF? I have owned this unit since pre-construction and really feel scammed by Marriott. I am a lifetime Gold elite member from all of my hotel stays. This has really tarnished my view of them.

Thanks for everyone's help.

The legal paperwork you agreed to when you purchased specifically stated you should not expect to sell and if you did, you'd be in direct competition with the developer. There was no agreement to repurchase it. I don't see this as a scam but more in understanding what one purchased.

 

[southernpat]

I also own a Gold and Platinum week at Frenchman's Cove, I am confused as to why this location has decreased so drastically in value. My own experience has been what makes it so appealing is also its detriment. The location is beautiful but difficult to get to with limited flights, once there, ground transportation is expensive, challenging with few options. The beaches are fantastic but back to transportation issue. Same with dining, groceries, entertainment, etc. We have stayed at the resort several times, it's really nice, staff is friendly and accommodating, units are clean, our room requests have been honored for the most part. Originally, the resort was to have additional building(s) and another pool, I believe behind the Tortuga Building but that probably won't happen. Does MVC have any plans to enhance the experience and restore the appeal of this wonderful resort?

 

[Hindsite]

I also own a Gold and Platinum week at Frenchman's Cove, I am confused as to why this location has decreased so drastically in value. Does MVC have any plans to enhance the experience and restore the appeal of this wonderful resort?

Most timeshares have no resale value, its not limited to Frenchman's Cove.

The resort seems in great shape and popular, what makes you think it isn't?

 

[Tuggernaut]

Frenchman's Cove is definitely a nice property. However, in addition to the transportation cost issue, don't forget that if you want to actually use your week, you have to add $175 to the high maintenance fee due to the ridiculous $25 per night tax that the US Virgin Islands imposes on each occupied unit.

 

[sail27bill]

Really surprised at its lack of value as well. I stayed here 2 years ago and it is a great resort. Staff was very friendly, place was very well maintained and using their boat ferry into town was very convenient. Visiting any Caribbean island is expensive food and transportation wise. I think with the market uncertainty people are looking for ways to save money and timeshare ownership is a luxury not a necessity.

 

[southernpat]

Most timeshares have no resale value, its not limited to Frenchman's Cove.

The resort seems in great shape and popular, what makes you think it isn't?

I agree, it is in great shape, the resort is beautiful, I have no statistics on the popularity. My thoughts were tied to the devaluation of the purchase and what one might recoup on their original expenditure. I'm possibly not comparing apples to apples when I see a platinum week at Grande Ocean selling for and a platinum week at Frenchman's Cove listed for. I honestly, naively, believed that the "Jewel of the Caribbean" would retain some value. Having said that, we have enjoyed our purchase and time spent in St Thomas, just wish I had bought on Ebay..lol..

 

[dioxide45]

I agree, it is in great shape, the resort is beautiful, I have no statistics on the popularity. My thoughts were tied to the devaluation of the purchase and what one might recoup on their original expenditure. I'm possibly not comparing apples to apples when I see a platinum week at Grande Ocean selling for and a platinum week at Frenchman's Cove listed for. I honestly, naively, believed that the "Jewel of the Caribbean" would retain some value. Having said that, we have enjoyed our purchase and time spent in St Thomas, just wish I had bought on Ebay..lol..

I suspect that Aruba has held value better than St Thomas. Aruba just seems easier to get to and the beach and location are far superior. Frenchman's Cove location isn't great and as noted transportation is expensive and driving (on the left) is a pain. Also when in Aruba I don't feel like most interactions with locals in the tourism industry is a means to try and rip me off like I do when visiting most other Caribbean Islands (and Mexico).

 

[normab]

I am wondering if MVCI has lots of people (maybe too many) wanting to deed back properties and therefore is becoming choosier. Our first deedback was pre Covid. A silver week in Branson, no problem. Our second deedback was gold St Kitts, post Covid. That was not so easy. But they did take it back.

Right now we are happy with our portfolio, but when we are done using the other weeks who knows what the future will hold.

 

[bazzap]

I am wondering if MVCI has lots of people (maybe too many) wanting to deed back properties and therefore is becoming choosier. Our first deedback was pre Covid. A silver week in Branson, no problem. Our second deedback was gold St Kitts, post Covid. That was not so easy. But they did take it back.

Right now we are happy with our portfolio, but when we are done using the other weeks who knows what the future will hold.

We also deeded back St Kitts (2x Gold weeks) in 2024.
There was never any doubt about taking them back, the process was just painfully slow - almost 9 months from start to end!


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[southernpat]

I suspect that Aruba has held value better than St Thomas. Aruba just seems easier to get to and the beach and location are far superior. Frenchman's Cove location isn't great and as noted transportation is expensive and driving (on the left) is a pain. Also when in Aruba I don't feel like most interactions with locals in the tourism industry is a means to try and rip me off like I do when visiting most other Caribbean Islands (and Mexico).

Yes, the "rip me off" vibe is, well, blatant in St Thomas. And, this is just me, but going to Pueblo grocery in the late evening, dark, is not for the faint hearted, lol. But, one has to accept the quirks of an island, as I was provided directions one night by being instructed to turn right at the sign that says "no right turn". And I did it!! Traffic rules are more just guidelines, enjoy!!

 

[loumart]

How did Marriott scam you? Did you not get what you bought (pre-construction) based on your contract documents? I'm far from a defender of MVC, but the fact the place lost all the value you paid should not require them to buy it back at the price you want.

If you bought a new car for 50,000 and the dealer would only by it back 20 years later for $2,000 did the dealer scam you?

You have a point, but a car is a depreciating asset. Deeded real estate is not. No reasonable person expect a purchased property's value to go to zero. That is one of the. reasons i bought Marriott. I figured it would be well maintained. That is in addition to all the talk by the sales folks about value retention or even appreciation (!).

 

[Hindsite]

You have a point, but a car is a depreciating asset. Deeded real estate is not. No reasonable person expect a purchased property's value to go to zero. That is one of the. reasons i bought Marriott. I figured it would be well maintained. That is in addition to all the talk by the sales folks about value retention or even appreciation (!).

If you bought a timeshare as an asset, you can't have done even the most basic due diligence into the performance of that asset in the market, or even if there was a resale market. Yes, for me too, the sales people outright lied about the potential resale value and how MVC would sell it for you at the price they charged at the time of sale, less their 25% commission, but none of that was written in the contract.

 

[loumart]

If you bought a timeshare as an asset, you can't have done even the most basic due diligence into the performance of that asset in the market, or even if there was a resale market. Yes, for me too, the sales people outright lied about the potential resale value and how MVC would sell it for you at the price they charged at the time of sale, less their 25% commission, but none of that was written in the contract.

I dont disagree at all. i certainly didn't expect it to retain much value or appreciate. Having to pay to get rid of it seems a bit extreme.

 

[VacationForever]

For what we now own, we have paid a total of $75K (after incentives) but right from the start we figured we would amortize that cost over 15 years, basically that $75K go to zero. Basically we add another $5,000 to the maintenance fees per year and we get about 10 weeks stay a year, about a total of $18K a year, with a week's stay costing about $1.8K. I would say that's pretty good for the quality of accommodations that we are getting and we usually exchange into 2BR in II for most of the stays.

 

[davidvel]

You have a point, but a car is a depreciating asset. Deeded real estate is not. No reasonable person expect a purchased property's value to go to zero. That is one of the. reasons i bought Marriott. I figured it would be well maintained. That is in addition to all the talk by the sales folks about value retention or even appreciation (!).

I am not sure what you mean by this. Both cars and real property can or cannot depreciate depending on their respective circumstances. Some classic cars that were bought for a few thousand dollars are now worth hundreds of thousands. Some real property that was bought for $500,000 could be worthless due to various reasons such as contamination, or rezoning, or coastal bluff failure.

At the same time, this is not a simple, stand alone property like a family home. It is owned in concert with thousands of others, subject to a complex timeshare plan, governed by an HOA and managed by MORI.

From your comments, and those of others, this resort does seem to be well maintained. In fact, the escalating cost of such maintenance is actually a big part of why the underlying value has lowered. As the original purchasers switch to fixed income, or pass on, the demand for owning this product by them dwindles. People do not see the value, despite ownership still likely being the lowest cost to access this resort on a weekly basis.

But obviously that is all besides the point, and a complete red herring. When MVC sold you this property they expressly disclaimed, in writing, acknowledged by you, that there were no warranties or representations about future value, and any statements contrary to this made orally were invalid. So if you relied on these statements contrary to the contract you signed, that is what it is.

 

[Bodie]

Has anyone sold the Frenchman's Cove week? Can you share your experience? have not been able to find any sales data.

I don't know about sales data, but that's a very popular property. Just ran a check and there is no one week availability. It is booked for the next 12 months (even thru "hurricane" months). Don't let anyone play the "that's not a desirable season" card with you.