need advice [WKV - developer purchase]

[burg1121]

Just bought eoy at WKV. Did it for the hotel certs 80000pts for $1550.00 we can buy 6 before end of 2013. Also got gold spg card. We have 7 days to regain sanity. I know we broke the golden rule. Please advise.

 

[DeniseM]

You should absolutely rescind - you can buy the same thing on the resale market for less than 50%. By paying more than double, you eliminated any value from the incentives - Don't do it!

Rescinding FAQ - http://www.tugbbs.com/forums/showthread.php?t=74493

 

[DeniseM]

Here are the most recent ebay auctions for WKV:

Westin Kierland Villas - TIMESHARE
1 Bdm.
0 Bids
No reserve

WESTIN KIERLAND RESORT
1 Bdm.
3 Bids
Sold $5.00

Westin Kierland Villas
1 Bdm.
0 Bids
No reserve

 

[burg1121]

Are 500,000 spg pts worth 16,000.00?

 

[DeniseM]

I'm not sure where you got your figures, but this is how I would look at it-

(Is $16,000 what you paid + 6 x $1,550? - If so, I'm guessing you paid $6,700 for an EOY silver week? Did you finance?)

A nice Starwood hotel will cost you 13,000 Starpoints a night and up (as much as 25,000 per night at the high end.)

So that means for 500,000 Starpoints, which cost $16,000, you can reserve 38 nights at $421 a night....

Let's say you are super lucky and get every 5th night free - that would be 45 nights at $355 a night.

 

[burg1121]

6900 EOY +9300 on spg pts book 4nts 5th nt free upgrades if available. Doesn't 12000 pts get most hotels. Thinking of going Italy so it would be 20000 but the rooms are $1000 plus a nt.j

 

[DeniseM]

6900 EOY +9300 on spg pts book 4nts 5th nt free upgrades if available. Doesn't 12000 pts get most hotels. Thinking of going Italy so it would be 20000 but the rooms are $1000 plus a nt.j

Did you include the yearly (increasing) maintenance fee and the mandatory yearly SVN fee and finance charges?

Here is what I'd do. Skip the timeshare and have $16,000 in my pocket for a trip to Italy - with no on-going obligation and no maintenance fees!

Also - it's hard to get upgraded with Gold SPG because it's so common.

Based on your figures:

Italy - 20,000 Starpoints a night with every 5th night free = $533 a night.

For some people that might be a good deal, but it seems like a lot to me, because I would never spend $533 a night for a hotel room out of pocket.

 

[burg1121]

Thanks for talking me off the edge

 

[jarta]

Are 500,000 spg pts worth 16,000.00?

Actually, the answer is yes, in round numbers. However, that reason alone is not the reason to buy 480,000 Starpoints for $9,300.

Starwood would normally sell you (within yearly limits) Starpoints at 3.2 cents per Starpoint. 480,000 Starpoints would cost you $15,360.

So, the savings is $6,060.

The worth (as opposed to cost) of the Starpoints comes from your level of Starwood Elite membership, how you use the Starpoints and how effectively you can use the Starpoints to reduce the cost of how you would travel anyway. If are 4 or 5 Star Elite, if you make good use of Starpoints and if you travel first class a substantial portion of the time you travel, the worth can be far in excess of $16,000.

If you are not 4 or 5 Star Elite, if you make poor use of the Starpoints or if you do not travel first class often or at all, the Starpoints are not worth $15,360. But, with a little effort, you should at least get $9,300 of value in return for $9,300 expended.

It's like all things in life. Worth differs by each user and to each user. I'd explain how I use my Starpoints, but you might not use them like I would.

And, as I said at the beginning, the Starpoints alone are no reason to buy a timeshare from the developer.

You have to have a more developed-plan for total use of your timeshares than that. For example, Last Winter I bought a Plat WMH 2-br EY for $3,000 and retroed it as part of upgrading a Plat 2-br EOY at Lagunamar into a Plat OS 2-br EY at Lagunamar. I also got the 480,000 Starpoints for $9,300 included in the price along with the normal inclusion of 80,000 Starpoints for the OS buy. GLTY! ... eom

 

[YYJMSP]

Starwood would normally sell you (within yearly limits) Starpoints at 3.2 cents per Starpoint.

Starwood is offering the 20% off sale again (Nov 1 to Dec 30), for purchases of up to 20,000 Starpoints at $14.00USD per 500 Starpoints.

 

[Ken555]

I so enjoy reading discussions on how valuable StarPoints are when purchased from SPG. I view it this way: if the moon and all the planets line up just right, and you travel to a particular SPG property that has availability (or cash + points) which otherwise is very expensive (ie. Europe, but not always) then and only then can the cost of purchasing points save...some. If you travel often, then this will likely work out well for you. If not, then it's a luxury and should be very carefully considered. I obtain all my points from stays and credit card usage and so have a different view on the value of points.

 

[burg1121]

I would like to again thank you for talking me off the ledge. We received our refund from the Westin and hopefully will remember to only attend presentations only for the gift and to buy resale.

 

[LisaRex]

I think you made a wise decision.