Deeded Frenchman's Cove Value

[Bodie]

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?

Agreed, I love this resort. But getting there is difficult. Now there are only red eyes available all of which include a layover. That's a huge detriment to me. They don't seem to have any problem with bookings, though.

 

[GrayFal]

Agreed, I love this resort. But getting there is difficult. Now there are only red eyes available all of which include a layover. That's a huge detriment to me. They don't seem to have any problem with bookings, though.

Getting there is not difficult for the entire east coast. There are non stops from Boston, NY, Baltimore & Florida.
It's like saying Hawaii has no value because it's 10-14 hours from the east coast.

What we found acceptable 15 years ago in terms of travel we can not tolerate now.

I monitor II availability daily on the sightings board and there is very little availability sitting online meaning it's getting booked by owners, ongoing II searches and Abound point owners. It's very very popular but the way people feel about TS ownership has shifted and current resale prices reflect this.

 

[Tia]

There are always Red Week rentals for $500/night there. I get emails

 

[southernpat]

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.

I logged in today and can book any week from January through April, I am a legacy weeks owner.

 

[dioxide45]

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.

That doesn't necessarily have any impact on resale value.

 

[GrayFal]

I logged in today and can book any week from January through April, I am a legacy weeks owner.

This is with Abound points, not with weeks thru II?

 

[dioxide45]

This is with Abound points, not with weeks thru II?

I take it as being with their home resort ownership.

 

[southernpat]

I take it as being with their home resort ownership.

Yes, my home resort.

 

[southernpat]

I think the main point here is that the value of the resort week has dwindled to virtually nothing. Now, I don't believe that anyone is ok with there initial investment disappearing, no matter the reason. I can take solace in the value of vacation time, trade value, point allocation, blah, blah..but, at the end of the day, I'd like to think that what I have is worth something. And I don't think that's unreasonable.

 

[dioxide45]

I think the main point here is that the value of the resort week has dwindled to virtually nothing. Now, I don't believe that anyone is ok with there initial investment disappearing, no matter the reason. I can take solace in the value of vacation time, trade value, point allocation, blah, blah..but, at the end of the day, I'd like to think that what I have is worth something. And I don't think that's unreasonable.

This is the reality of timeshares. Especially seasons outside of platinum/prime/high seasons. Even gold seasons at most Marriott's have very little to $0 resale value.

 

[Hindsite]

, I'd like to think that what I have is worth something. And I don't think that's unreasonable.

Its worth what someone is prepared to pay for it, and the market for timeshares is relatively small and even smaller for resales and even smaller for ones with relatively high maint fees that have been wiped out in recent memory and are in a Hurricane zone.

 

[southernpat]

Ok, well, if we as timeshare owners keep telling everyone, anyone..that timeshares are worthless, well..here we are. Especially on this forum. I personally tell people what a great value a timeshare has provided me and I think future purchasers, younger folks can actually see the benefits of participating in these programs.

 

[ljmiii]

I personally tell people what a great value a timeshare has provided me…

I don’t disagree except to note that the “value” of something can mean ‘how much does it cost to buy’, ‘how much is it worth to me’, and ‘what can I sell it for’. And the three may only be loosely correlated.

 

[GrayFal]

This is the reality of timeshares. Especially seasons outside of platinum/prime/high seasons. Even gold seasons at most Marriott's have very little to $0 resale value.

Very true.

 

[dioxide45]

The value in use is completely different from resale value. Resale value is based on supply and demand. More timeshares for sale than people wanting to buy them pushes the price down. Developer timeshare sales work completely differently than resale timeshares. People buy an expensive timeshare from a developer because the developer has created a product that is sold in a high pressure presentation with "today only" sales techniques. Developer timeshares are sold, not bought. There is no inherant demand for timeshares. None. Very few people go into a timeshare presentation planning to buy but the sales person makes the person think it is something they need. Thus why they pay a lot. Developer timeshare sales do not work on a supply and demand system to determine pricing.

 

[southernpat]

The value in use is completely different from resale value. Resale value is based on supply and demand. More timeshares for sale than people wanting to buy them pushes the price down. Developer timeshare sales work completely differently than resale timeshares. People buy an expensive timeshare from a developer because the developer has created a product that is sold in a high pressure presentation with "today only" sales techniques. Developer timeshares are sold, not bought. There is no inherant demand for timeshares. None. Very few people go into a timeshare presentation planning to buy but the sales person makes the person think it is something they need. Thus why they pay a lot. Developer timeshare sales do not work on a supply and demand system to determine pricing.

Developer timeshare sales also create a sense of urgency, an emotional connection and a limited opportunity environment which checks the boxes of potential purchasers. Sales leads are harvested from guests checking into resorts, want your parking pass? You have to see the concierge, here's your meal discount voucher and by the way, what time can I sign you up for a presentation, yes, you can think about it but time slots are filling up. You want to stay up to date on your timeshare benefits, right?
Resales don't have this marketing opportunity, it's a gold week in x location for x amount of dollars, you want it??

 

[Dean]

In almost all cases retail timeshares are sold in a presentation. Their value on the open market is always a fraction of the purchase price, sometimes a very tiny fraction. Almost all buyers of a floating or points system are buying with the highest demand options in mind but that is not the reality for most of them when they go to reserve. Once one gets to off season, timeshares are generally going to cost more than if one just paid OOP without the costs and commitments. For MVC I feel this translates to essentially all Gold weeks having little resale value and limited to modest real value, once you get to Silver or below, one is almost always in the negative. Even for Platinum weeks at lower demand areas like Branson, Vegas, Orlando and Williamsburg; their real value is limited to nothing from a $$ standpoint. I would agree that the potential real value comes from using it but that assumes one learns the system, plans ahead and used those options to their advantage. Just another example of why one needs to understand what they are buying, verify any demands and do their due diligence.

 

[goodbadugly]

Points are even worse!! Exacerbated by the high MF's!

 

[Dean]

Points are even worse!! Exacerbated by the high MF's!

And in many ways with less options and overall probably less flexibility.

 

[southernpat]

And in many ways with less options and overall probably less flexibility.

With my limited understanding of all things points, was the original plan for points conceived because a unit is limited to 52 weeks (sales) but points can be sold regardless of actual inventory?

 

[TUGBrian]

Ok, well, if we as timeshare owners keep telling everyone, anyone..that timeshares are worthless, well..here we are. Especially on this forum. I personally tell people what a great value a timeshare has provided me and I think future purchasers, younger folks can actually see the benefits of participating in these programs.

there is no causation between timeshare resale prices and the fact that educated owners know they can be bought for pennies on the dollar if not free. The term "dont shoot the messenger" comes to mind.

there are plenty of places that will happily tell you that your timeshare has tremendous resale value and there are buyers lined up to take it off your hands while giving you a big check in the process! and every one of those places is lying to you in an effort to get you to pay them money.

no doubt you had no idea about the resale market or resale prices when you bought your timeshare. would you have considered that valuable information at the time?

 

[Dean]

With my limited understanding of all things points, was the original plan for points conceived because a unit is limited to 52 weeks (sales) but points can be sold regardless of actual inventory?

I can't speak to MVC's thoughts on changing over to points other than to provide a service that created profits. My general opinion on points systems is that they are more appealing to buyings and to sellers. To buyers because they think they're buyng a top week in their mind or some other option advantageous to them and to sellers because every single points is sold like it's prime time even when it really isn't. Points is limited by the inventory though, they can't sell more points than required to reserve just like they can't sell more weeks.

 

[MOXJO7282]

For reference on 3BDRM gold units, I just sold a few for $4k just this month.

 

[southernpat]

there is no causation between timeshare resale prices and the fact that educated owners know they can be bought for pennies on the dollar if not free. The term "dont shoot the messenger" comes to mind.

there are plenty of places that will happily tell you that your timeshare has tremendous resale value and there are buyers lined up to take it off your hands while giving you a big check in the process! and every one of those places is lying to you in an effort to get you to pay them money.

no doubt you had no idea about the resale market or resale prices when you bought your timeshare. would you have considered that valuable information at the time?

The subject is the cause of devaluation of timeshares, particularly Frenchman's Cove. A messenger is sent by an authority to deliver bad news, hence the term your referencing, here the authors seem to be delivering that message on their own. I don't need anyone to inform me on the valuation of my timeshare, I can read it here, again and again, from owners, such as you, I assume. And your assumption about my purchase and its origins is, well, presumptuous.

 

[goodbadugly]

there is no causation between timeshare resale prices and the fact that educated owners know they can be bought for pennies on the dollar if not free. The term "dont shoot the messenger" comes to mind.

there are plenty of places that will happily tell you that your timeshare has tremendous resale value and there are buyers lined up to take it off your hands while giving you a big check in the process! and every one of those places is lying to you in an effort to get you to pay them money.

no doubt you had no idea about the resale market or resale prices when you bought your timeshare. would you have considered that valuable information at the time?

I am happy with my deeded purchase(s) but not the purchase of my points from MVC.