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Help for friends who want to sell their WM ownership

DaveNV

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Hi All,

I have friends who own 12K WM they bought from the Developer several years ago, and have never used. They're tired of paying MFs on the account, and would like to sell it. They understand they overpaid by a mile, but would like to get a fair resale market value for what they own to get out from under it. What is the current market value for a 12K account, and where is the best place for me to help them easily sell it?

(Full disclosure: I've tried educating them on how best to use their WM account, but they never make longer-term plans, so would never be able to book something at 13 months. They were sold a pack of lies by the WM Developer salesweasel: "Sure, you can book Maui anytime you want!" No amount of coaching by me was able to change things, and now they just want out. Sad lesson learned by them.)

Dave
 

geist1223

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Assuming there is no outstanding Loan on WMOWNERS the current going Price appears to be about 10 cents per Credit. So about $1,200 plus perhaps the Buyer will pay the $399 Transfer Fee.
 

DaveNV

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Assuming there is no outstanding Loan on WMOWNERS the current going Price appears to be about 10 cents per Credit. So about $1,200 plus perhaps the Buyer will pay the $399 Transfer Fee.

Thanks, Tom. Yes, this is paid off. They're still on vacation, so I'll know more when they get home, but I assume the account is fully loaded. So there should be a lot of credits and HK tokens available in the account.

Dave
 

clifffaith

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If they don’t want to deal with it themselves, Michael at besttimeshare.net was/is very helpful to us. They tell him what they have (they’ve paid special assessment, right?), and he tells them what he thinks he can get for it. Easy peasy.
 

CaliSunshine

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wmowners and the facebook group are good places to start. Unless it's a grandfathered NHK account though it probably won't be worth a lot. 10 cents per point, even fully loaded, sounds approximately right these days.
 

DaveNV

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wmowners and the facebook group are good places to start. Unless it's a grandfathered NHK account though it probably won't be worth a lot. 10 cents per point, even fully loaded, sounds approximately right these days.

This is not an NHK account. They just bought it six or eight years ago from the Developer. (They didn't listen to me when I warned them not to buy from the Developer...)

So 10 cents a credit on a 12K account, fully loaded, would be $3600 then? Or are the previous years not counted? I told them they could probably get $3-4K for it, and they seemed okay with that amount. I'll be talking to them when they get home.

Dave
 

CaliSunshine

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Unfortunately here I mean something closer to 1200 dollars like @geist1223 said. Check the listings on wmowners and the Facebook group. I recently bought points on eBay with over a year’s worth of points on it for like 3 cents per point plus transfer costs.
 

DaveNV

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Unfortunately here I mean something closer to 1200 dollars like @geist1223 said. Check the listings on wmowners and the Facebook group. I recently bought points on eBay with over a year’s worth of points on it for like 3 cents per point plus transfer costs.

So previous years aren't counted then. When I find out more specifics from them, I can better advise them.

Dave
 

clifffaith

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Mike has a buyer for me at $1500/15,000 credits. None of this years points used. 2000 left from last year. October anniversary date.
 

CaliSunshine

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So previous years aren't counted then. When I find out more specifics from them, I can better advise them.

Dave
If they want to maximize the amount they can rent out the points on the account to another owner before selling the account itself. A bit more complicated though.
 

Tidalwave

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How do you know if it’s a NHK account? My dad has 75k points, all developer bought (small fortune). I know it’s free housekeeping, but does that mean it’s a nhk account? Thanks.
 

CaliSunshine

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How do you know if it’s a NHK account? My dad has 75k points, all developer bought (small fortune). I know it’s free housekeeping, but does that mean it’s a nhk account? Thanks.
The majority of accounts with free housekeeping are accounts with TravelShare which doesn't transfer. A small number of accounts don't have housekeeping because they were purchased super early. Check out wmowners.com to see what the cutoff was.
 

Kim Him

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it's in the account number. you can call wpc to see if it's a no housekeeping account or not.
 

Huskerpaul

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The majority of accounts with free housekeeping are accounts with TravelShare which doesn't transfer. A small number of accounts don't have housekeeping because they were purchased super early. Check out wmowners.com to see what the cutoff was.
See post #6
 

easyrider

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So previous years aren't counted then. When I find out more specifics from them, I can better advise them.

Dave

Another option is to give it back using Wyndham's "certified exit" which was called "Ovation" in the past. The last WM membership we acquired was free. We did pay the closing cost to help out but it wasn't required.

Bill
 

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If @geist1223 and @CaliSunshine are correct in their valuation of $1200, and if your friends have a “fully loaded” (last year’s and this year’s credits available) they may want to consider renting out the 24,000 credits as one-time-use. Those seem to go for 7-9 cents each, so a full value of ~$1700+. Then even if they offer the account for free+$399 transfer fee, they’d come out better than $1200. One way or another, I think they may be able to get closer to $2k or more with patience and the right approach.
 

DaveNV

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If @geist1223 and @CaliSunshine are correct in their valuation of $1200, and if your friends have a “fully loaded” (last year’s and this year’s credits available) they may want to consider renting out the 24,000 credits as one-time-use. Those seem to go for 7-9 cents each, so a full value of ~$1700+. Then even if they offer the account for free+$399 transfer fee, they’d come out better than $1200. One way or another, I think they may be able to get closer to $2k or more with patience and the right approach.

All of this makes perfect sense to me, as a former WM owner. But these people can't even figure out how to reserve anything at the 13-month mark. They just expect they can log in or call any old time, and book any old thing they want. They clearly do not understand the supply and demand methodologies of how timesharing works, and certainly not WM as a system.

If any honest Tugger is interested in acquiring this account, shoot me a PM and I can put you in touch with them.

Dave
 

geist1223

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Unfortunately Patti has put a Hard Stop/No on acquiring more Credits or Timeshares.
 

Tidalwave

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All of this makes perfect sense to me, as a former WM owner. But these people can't even figure out how to reserve anything at the 13-month mark. They just expect they can log in or call any old time, and book any old thing they want. They clearly do not understand the supply and demand methodologies of how timesharing works, and certainly not WM as a system.

If any honest Tugger is interested in acquiring this account, shoot me a PM and I can put you in touch with them.

Dave
You’re no longer a WM owner? Just curious why?
 

DaveNV

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You’re no longer a WM owner? Just curious why?

I liked WM just fine, but after I retired and we moved to Southern Nevada four years ago from the Pacific Northwest, it flipped around our traveling options. We're not traveling like we were, and when we do, we are taking cruises, or traveling to the East Coast and Europe from here. WM doesn't fit that model. I passed my ownership along to a great Tugger, and now we rent what we want, when and where we want to go. It's nice having options, without any commitments. I can always buy WM again, but so far, there hasn't been any reason to.

Dave
 
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