Diamond Points Selling Question

[bryce.yamashita]

We are a DRI Platinum member. They got us up to that point level by convincing us to include our Disney points into Club Combinations to push our point total up to Platinum. Over the years, we've never deposited our Disney points into Diamond but used Disney separately. We thought we were being smart so we would be able to get Platinum benefits but, we didn't really gain much, and we kept pouring money down a hole. I've seen a lot of $1 sales listings to sell points. My question to the smart people here, is whether anyone is buying them. Most of our contracts are from Arizona so we can use Transitions to return them at $250 per contract but we have one contract with 17,000 points from another state so that fee would be $1000. I hate giving them more money so if I can sell it for $1 and someone else can get better use out of it, otherwise, I think we really need to cut the cord and we'll just have to spend another $1000 and chock it up as a really big life mistake.

Thanks.

 

[kanerf]

You can certainly try to give them away for free here on TUG. https://tugbbs.com/forums/forums/free-timeshare-giveaways-and-bargain-deals.55/

 

[clifffaith]

We couldn't give away and pay the transfer fee on our Hawaii points, so paid $3000 to get rid of 3 contracts over the last two years.

 

[tschwa2]

You need to find out what the total transfer cost and an estimated time to transfer would be for each contract before putting them up for a giveaway. Paying transitions might end up being the better deal if you can't get rid of them before MF's are due next year. I think this time next month is the latest I think they will reliably accept you into transitions without paying 2022 MF's.

 

[bryce.yamashita]

We couldn't give away and pay the transfer fee on our Hawaii points, so paid $3000 to get rid of 3 contracts over the last two years.

That's what we're expecting we'll have to do. Fortunately most of the contracts are written when we were stupid in Arizona so the give back fee is only $250 per contract for them...

 

[bryce.yamashita]

You can certainly try to give them away for free here on TUG. https://tugbbs.com/forums/forums/free-timeshare-giveaways-and-bargain-deals.55/

I see a lot of them posted and I'd just be another one with some red flag showing a high MF for a crapload of points... I realize that sometimes it's better to just bite the bullet and say I give up and pay them to get out from under this crap. Dunno yet. Maybe someone here wants the points...

 

[bryce.yamashita]

We couldn't give away and pay the transfer fee on our Hawaii points, so paid $3000 to get rid of 3 contracts over the last two years.

yep. We went through that too. Started with ILX with a couple points. Tried to get out and instead did something stupid and bought Hawaii just because and because we were even more stupid, on an Arizona trip we got convinced that adding our Disney points to get us to Platinum would be a good idea. Now, here we are...

 

[bnoble]

otherwise, I think we really need to cut the cord and we'll just have to spend another $1000 and chock it up as a really big life mistake.

This might be where you end up. Unfortunately, membership in The Club doesn't transfer with a sale; only the rights to the underlying resort/collection.

 

[geist1223]

There are a lot of restrictions on DRI resell Points. Such as can only be used in their Home Collection, no Club, and no Affiliates. That is part of the reason they are so hard to sell. Now with everything up in the air because of the recent purchase of DRI it might be even harder.

 

[clifffaith]

You need to find out what the total transfer cost and an estimated time to transfer would be for each contract before putting them up for a giveaway. Paying transitions might end up being the better deal if you can't get rid of them before MF's are due next year. I think this time next month is the latest I think they will reliably accept you into transitions without paying 2022 MF's.

Things may differ this year because of the sale to Hilton, but last year we applied on Nov 1st at the end of our last reservation and were accepted. What we did wrong was allow autopay for maintenance fees to continue for two months before shutting that off. Transitions doesn't talk to maintenance fee department and so wanted their full $1000 per contract when we already had $500 in maint fees they could have applied. Got tired of waiting them to credit me back, so I submitted a charge dispute to my cc company.

 

[bryce.yamashita]

Things may differ this year because of the sale to Hilton, but last year we applied on Nov 1st at the end of our last reservation and were accepted. What we did wrong was allow autopay for maintenance fees to continue for two months before shutting that off. Transitions doesn't talk to maintenance fee department and so wanted their full $1000 per contract when we already had $500 in maint fees they could have applied. Got tired of waiting them to credit me back, so I submitted a charge dispute to my cc company.

Oooh good point on Autopay. It took so long for them to get autopay set up correctly so I probably need to start untangling that now.

 

[clifffaith]

Oooh good point on Autopay. It took so long for them to get autopay set up correctly so I probably need to start untangling that now.

You will need to pay all of this year's maint fees before applying for Transitions, or they just reject you. Ditto using up all your pending reservations.

 

[T_R_Oglodyte]

In general. Diamond Trust ownerships have almost no resale value. For example, when I looked a month or so ago, there was a 50,000 point Hawaii Collection ownership listed here on TUG for about $99 plus transfer fees.

*******

Over the years, we've never deposited our Disney points into Diamond but used Disney separately. We thought we were being smart so we would be able to get Platinum benefits but, we didn't really gain much, and we kept pouring money down a hole.

I can understand your situation. Similar to you, we used Club Combinations to reach to Gold level.

We put two properties into Club Combinations to get to Gold status. Of those, we've made one Club Combination deposit with one of the units, and we actually gave away the second unit. To us, it has been very useful to have access to the Gold status without having to actually buy Diamond points to reach that level.

In our case it has worked fine, because we were very closely targeted at creating multi-generation family vacation opportunities at the Point at Poipu, and getting to Gold has helped us be able to secure two units for those vacations. The benefits that have had the most value to us are the options to upgrade units and to select units.

 

[bryce.yamashita]

In general. Diamond Trust ownerships have almost no resale value. For example, when I looked a month or so ago, there was a 50,000 point Hawaii Collection ownership listed here on TUG for about $99 plus transfer fees.

*******

I can understand your situation. Similar to you, we used Club Combinations to reach to Gold level.

We put two properties into Club Combinations to get to Gold status. Of those, we've made one Club Combination deposit with one of the units, and we actually gave away the second unit. To us, it has been very useful to have access to the Gold status without having to actually buy Diamond points to reach that level.

In our case it has worked fine, because we were very closely targeted at creating multi-generation family vacation opportunities at the Point at Poipu, and getting to Gold has helped us be able to secure two units for those vacations. The benefits that have had the most value to us are the options to upgrade units and to select units.

I feel that if you can aggressively manage your points and plan ahead, Diamond really isn't that bad. In our case, we found increasingly that the places we wanted to go had either nothing there or extremely limited availability.

 

[T_R_Oglodyte]

I feel that if you can aggressively manage your points and plan ahead, Diamond really isn't that bad. In our case, we found increasingly that the places we wanted to go had either nothing there or extremely limited availability.

That can often be the case, especially when looking at resorts that are Diamond affiliates, where Diamond has arranged an inventory swap with another resort system. Often the swap involves only a small amount of inventory. The purpose of the swap is really for both entities to add the other's locations as dots on their maps, to make the systems seems more expansive.

 

[FunnyFarm]

Does gold level allow you to select units? I have not heard of that benefit.

 

[younme4ever]

In general. Diamond Trust ownerships have almost no resale value. For example, when I looked a month or so ago, there was a 50,000 point Hawaii Collection ownership listed here on TUG for about $99 plus transfer fees.

*******
Hi, I am new to researching about DRI and was wondering if you could explain a little more regarding why there is almost no resale value. I was looking from the angle of buying resale DRI points but wondering what the setbacks were, in regards to buying resale?

 

[pierrepierre]

The above information is all EXCELLENT! We were Platinum, MFs were expensive compared to the travel we were doing - so alas, Transitions was the fastest way out for us. Keep track of whatever they email you....and also know, which you do - what state points were purchased in. We celebrated when we had closure - and may you be blessed doing what your head and heart are telling you to do! Do NOT look at this as a big financial mistake, as no one has a monopoly on that category! WE ALL have done that in the very short time we are on this earth. Look beyond this and smile each day it is over with!!!! I still watch the Diamond forum to see what folks are going through......

 

[DRIless]

There are a lot of restrictions on DRI resell Points. Such as can only be used in their Home Collection, no Club, and no Affiliates. That is part of the reason they are so hard to sell. Now with everything up in the air because of the recent purchase of DRI it might be even harder.

Doesn't the buyer (HGVC) of Diamond Resorts International - DRI, treat all their HGVC points the same, retail or resale? Wouldn't it be nice if they spread that to DRI? They'd have both a much happier set of owners and a much happier set of former owners.

 

[T_R_Oglodyte]

In general. Diamond Trust ownerships have almost no resale value. For example, when I looked a month or so ago, there was a 50,000 point Hawaii Collection ownership listed here on TUG for about $99 plus transfer fees.

*******
Hi, I am new to researching about DRI and was wondering if you could explain a little more regarding why there is almost no resale value. I was looking from the angle of buying resale DRI points but wondering what the setbacks were, in regards to buying resale?

"Almost no resale value" means that there are many more people who want to be rid of their Diamond ownership than there are people who want to buy those ownerships on the resale market. And there are enough of those people who will be glad to just give it away that the price is effectively zero.

Actually, it's often negative. Even Diamond knows that. That's why they set up the Transitions program, so that people can pay Diamond $1000 to be rid of the timeshare. That program works only because many ownerships are unsellable.

As for setbacks, the primary one is that when someone who is a member of the Diamond Club transfers their timeshare to anyone other than a family member, the Diamond Club membership does not transfer. That means that ownership will only have it's native usage rights; if it's an ownership of points in one of the collections (trusts) it can only be used inside that collection. If it's a deeded ownership at a specific resort, it only has the usage rights associated with that deed (generally only the resort where the deed is located and only the usage season associated with that deed.

Thus if the Club Membershiup benefits don't mean much to you, then there is actually a benefit to buying resale, because then you avoid the annual club membership fee. IF there is a specific resort you want to visit regularly and the resort has deeded ownerships available, then picking up one of those deeds can be a good idea. That way you avoid both the annual club dues and the annual trust maintenance fee. For example, there are quite a few people who love the Point at Poipu on Kauai who own deeds there that are neither in the Club nor in the Hawaii collection trust.

Another factor that affects resale pricing is that Diamond is generally regarded as being at the high end in terms of maintenance fees for the quality provided.

 

[younme4ever]

"Almost no resale value" means that there are many more people who want to be rid of their Diamond ownership than there are people who want to buy those ownerships on the resale market. And there are enough of those people who will be glad to just give it away that the price is effectively zero.

Actually, it's often negative. Even Diamond knows that. That's why they set up the Transitions program, so that people can pay Diamond $1000 to be rid of the timeshare. That program works only because many ownerships are unsellable.

As for setbacks, the primary one is that when someone who is a member of the Diamond Club transfers their timeshare to anyone other than a family member, the Diamond Club membership does not transfer. That means that ownership will only have it's native usage rights; if it's an ownership of points in one of the collections (trusts) it can only be used inside that collection. If it's a deeded ownership at a specific resort, it only has the usage rights associated with that deed (generally only the resort where the deed is located and only the usage season associated with that deed.

Thus if the Club Membershiup benefits don't mean much to you, then there is actually a benefit to buying resale, because then you avoid the annual club membership fee. IF there is a specific resort you want to visit regularly and the resort has deeded ownerships available, then picking up one of those deeds can be a good idea. That way you avoid both the annual club dues and the annual trust maintenance fee. For example, there are quite a few people who love the Point at Poipu on Kauai who own deeds there that are neither in the Club nor in the Hawaii collection trust.

Another factor that affects resale pricing is that Diamond is generally regarded as being at the high end in terms of maintenance fees for the quality provided.

Thank you!