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Please Define "Floating Gold Week" [NCV]

N

NYFLTRAVELER

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What period comprises of an annual "floating gold week" at, for example, Newport Coast or Phoenix?

If were an owner of a resale of an annual "floating gold week" how long in advance can one book and what are the advantages and disadvantages of purchasing such a resale unit?

Also, if anybody knows, what are the add-on closing costs Marriott requires at a resale if they allow a deal to go through?

Thank you.

SBD
 
NYFLTRAVELER said:
What period comprises of an annual "floating gold week" at, for example, Newport Coast or Phoenix?
Click to expand...

Check out the Marriott Vacation Club Weeks System FAQ Sticky. I believe there are links there to help you in your understanding.
 
The gold season varies upon the resort . Some resorts like Newport coast only have platinum and gold. Ok they have a plat plus also. Other resorts have platinum, gold, silver and bronze. You have to check out the seasons on the Marriott website. Some resorts only have platinum like Vegas.For instance gold week at Grande Ocean on HHI is much more valuable than a gold week at Canyon Villas. Closing costs for a resale week are usually a few hundred dollars plus the maintenance fees. Check the listing for specifics.

You can book 1 year in advance with one week
 
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NYFLTRAVELER said:
What period comprises of an annual "floating gold week" at, for example, Newport Coast or Phoenix?

If were an owner of a resale of an annual "floating gold week" how long in advance can one book and what are the advantages and disadvantages of purchasing such a resale unit?

Also, if anybody knows, what are the add-on closing costs Marriott requires at a resale if they allow a deal to go through?

Thank you.

SBD
Click to expand...

The add on costs for resale weeks are

ROFR Fee = $95
Transfer Fee = $25

I agree with the tip about reading the Weeks FAQ sticky. A lot of great information in there.
 
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Thanks.

I wonder what a floating gold week at Newport cost when the owner bought it from Marriott at the time. Now being offered for $6000; Is that good or bad?

I am not buying it but just trying to learn the drill.
 
I believe Newport coast for 2013 is jan 4th thru June 2nd.

I could be wrong because I didn't follow that resort since they don't have lock offs, but I think $6k is high.

The link above in post #4 is where I found it. Just follow the link and click on the resort it brings up the calendar.

Ian
 
Is there a formula you use to determine the value of purchasing a resale week such as a floating gold at Newport?

For example, 6 night stay (on Marriott.com) from 4/26/14-5/2/13 (6 nights) is $2800 in itself.
 
dioxide45 said:
The add on costs for resale weeks are

ROFR Fee = $95
Transfer Fee = $120

I agree with the tip about reading the Weeks FAQ sticky. A lot of great information in there.
Click to expand...

I think the transfer fee is $25 for most resorts bringing the total to $120 including ROFR.
 
Saintsfanfl said:
I think the transfer fee is $25 for most resorts bringing the total to $120 including ROFR.
Click to expand...

You're right, and that is what I meant to post but somehow posted the $120. I have updated my post.
 
NYFLTRAVELER said:
Is there a formula you use to determine the value of purchasing a resale week such as a floating gold at Newport?

For example, 6 night stay (on Marriott.com) from 4/26/14-5/2/13 (6 nights) is $2800 in itself.
Click to expand...

It's market driven resale price. Dioxide has a link to a ROFR database where people list what prices are clearing ROFR.

For a financial comparison, some TUGgers will divide the purchase price over [10] years and add the MFs for their comparison to rental pricing. Most compare to rental pricing from other owners on redweek.com, versus the rack rates. This gives you a cost of the NCV week of approx $1,500 for the 7 night stay. I don't know what they rent for, but rents and prices tend to be higher for Platinum weeks than Gold weeks.

There would be significant competition for a holiday week in your season, irrespective of gold or platinum. You would need to be on the phone at 6am PT right when the phone lines open.

Good luck and I'm glad you are considering traditional weeks too.

Best,

Greg
 
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NYFL

If you looking to buy a resale week I would concentrate on a week in the season you would actually use. If you have children in school the season would most likely be platinum. Also, I was once told the beach locations trade better in II than inland locations, FWIW.
 
We have two gold weeks at NCV and love them. We sometimes go as early as mid Feb and often in early April. We bought both resale both for about $5K, so $6K is above where I'd be buying.
We got one before June of 2010 and have enrolled it into the DC Then use the pts to go in the fall at NCV.

About Gold weeks in general:

At some resorts the gold weeks are about equal to the lower demand platinum weeks but at other resorts gold weeks are significantly worse than most platinum weeks. You really need to look into each resort and that resorts seasons comparing them to other similar resorts.
As an example:
1. NCV The resort has two badly designed seasons. The weeks from Oct to June all have about the same demand yet 1/2 of it is platinum season and 1/2 gold. Summer is platinum also but has twice the demand from owners and exchangers than the fall platinum weeks. This make buying gold there a pretty good deal since the gold weeks have the same value as 1/2 the platinum weeks.
2. Canyon Villas in Phoenix has similar weather and demand as the resorts in Palm Springs (PS) BUT it has a platinum season that is much longer and a gold season which matches the silver seasons in PS. So IMHO buying a PS gold weeks makes much more sense than buying a Pnx gold week.

Hope this helps
 
Bill4728 said:
We have two gold weeks at NCV and love them. We sometimes go as early as mid Feb and often in early April. We bought both resale both for about $5K, so $6K is above where I'd be buying.
We got one before June of 2010 and have enrolled it into the DC Then use the pts to go in the fall at NCV.

About Gold weeks in general:

At some resorts the gold weeks are about equal to the lower demand platinum weeks but at other resorts gold weeks are significantly worse than most platinum weeks. You really need to look into each resort and that resorts seasons comparing them to other similar resorts.
As an example:
1. NCV The resort has two badly designed seasons. The weeks from Oct to June all have about the same demand yet 1/2 of it is platinum season and 1/2 gold. Summer is platinum also but has twice the demand from owners and exchangers than the fall platinum weeks. This make buying gold there a pretty good deal since the gold weeks have the same value as 1/2 the platinum weeks.
2. Canyon Villas in Phoenix has similar weather and demand as the resorts in Palm Springs (PS) BUT it has a platinum season that is much longer and a gold season which matches the silver seasons in PS. So IMHO buying a PS gold weeks makes much more sense than buying a Pnx gold week.

Hope this helps
Click to expand...

To further illustrate Bill's point:

Ocean Pointe - Its gold season is summer months and its platinum season is during the winter. If you have kids in school, it would make sense to get a gold week at OP since you would most likely use it during the summer months (unless you are in a location that honors President's week/winter break in February)

Marriott Aruba Resorts - Same deal. The gold season is in summer and platinum is winter. Aruba's weather is consistent pretty much year round so the platinum season is driven more so by the snow birds that like to escape the winter in the northeast/midwest.

As others have said, you have to determine what time of year you would most likely travel and purchase a week the best fits your travel profile.
 
CashEddie said:
To further illustrate Bill's point:

Ocean Pointe - Its gold season is summer months and its platinum season is during the winter. If you have kids in school, it would make sense to get a gold week at OP since you would most likely use it during the summer months (unless you are in a location that honors President's week/winter break in February)

Marriott Aruba Resorts - Same deal. The gold season is in summer and platinum is winter. Aruba's weather is consistent pretty much year round so the platinum season is driven more so by the snow birds that like to escape the winter in the northeast/midwest.

As others have said, you have to determine what time of year you would most likely travel and purchase a week the best fits your travel profile.
Click to expand...

Yes unfortunately my travel times are reliant on the school vacation calendar (Christmas, President's Week, Easter/Passover week, last 2 weeks of August). Being from the North East, most likely would want to travel during the first 3 time frames as opposed to the end of summer.
 
NYFLTRAVELER said:
Yes unfortunately my travel times are reliant on the school vacation calendar (Christmas, President's Week, Easter/Passover week, last 2 weeks of August). Being from the North East, most likely would want to travel during the first 3 time frames as opposed to the end of summer.
Click to expand...

Those winter/spring travel times are prime times in a lot of places and can be difficult trades depending on the property. However, places like Orlando would be easier to get into during those times due to the abundant availability.

You may want to look at gold weeks for Hilton Head or Myrtle Beach for purchase. They would fit your spring and late summer travel profile well and would be good traders to get into other properties during some of your other travel times.
 
If you're looking to trade into a prime location during the weeks that you mentioned I would recommend getting the BEST platinum week that you can. Those are all very tough trades! I would recommend a Plat HHI or Myrtle beach,a plat south florida beach location, a plat aruba or possibly week in hawaii or a ski week. If you want a prime week ( there is lots of competition) i think you will need a very good week to trade for it. For whats its worth, my plat myrtle beach is a great trader and has gotten me a christmas week in ocean pointe, an easter week in aruba and a summer week at newport coast.
 
Opinion: Resale Purchase Gold Week Newport

Is $3600 a good price for annual gold week resale?

What can and can't I do with this if I am not traveling out there each year ?
 
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NYFLTRAVELER said:
Is $3600 a good price for annual gold week resale?

What can and can't I do with this if I am not traveling out there each year ?
Click to expand...

I think eBay approximates the current market, and I would be curious if this sale will clear ROFR. We don't know what Marriott is buying back, but inexpensive Annual weeks might be one of them.

I do think $3,600 is a good price for this week, and I assume you will be trying to use this week during Spring Break because you have young children? I will caution you that you will have lots of competition for that week, but it is a lovely time to be in California.

In the years you do not use it, I think that would be a great trading property and allow you to trade for other weeks of interest. It is not a lock-off, so you know you're only getting a single deposit (and not two -- from both the master and the lock-off suite). But you will have a much better deposit as an intact 2BR.

Good luck and let us know what you decide? Please also consider EOY's as they've had better success clearing ROFR recently and coming from the East Coast, committing every year to Newport Coast may be difficult.

Best,

Greg
 
dioxide45 said:
The add on costs for resale weeks are

ROFR Fee = $95
Transfer Fee = $25
Click to expand...

This is true for most resorts but a few do not have ROFR, such as Sabal Palms and Royal Palms. I think there may also be one or two on HHI that do not have ROFR. For those resorts you only have to pay Marriott the $25 transfer fee.
 
BocaBoy said:
This is true for most resorts but a few do not have ROFR, such as Sabal Palms and Royal Palms. I think there may also be one or two on HHI that do not have ROFR. For those resorts you only have to pay Marriott the $25 transfer fee.
Click to expand...

Good point. That list of resorts without ROFR is in the Weeks FAQ sticky.
 
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