• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 27 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
  • TUG has now saved timeshare owners more than $17,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $17 Million dollars
  • Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
  • Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
  • A few of the most common links here on the forums for newbies and guests!

Sapphire Resorts - Jockey Club New Purchase

bu11fr0g

Guest
Joined
Nov 23, 2016
Messages
2
Reaction score
1
Points
1
Resorts Owned
Sapphire Resorts
Yeah, me and my wife foolishly bought a timeshare from Sapphire Resorts. Here are the details:
$13,000 purchase price, we get 20,000 pts per year. If we book within 60 days, our cost is 10,000 points for the booking. If we book within 30 days, our cost is 5,000 points for the booking. Yearly maintenance fees are about $1000 to $1200 a year currently. We also have access to non-prime time specials. You can rollover one year's worth of points if you pay a fee.

Two months after the purchase, we get the verification notice along with access to the "Staysapphire" website and rental spots, only to find out that where we wanted to stay each year, the Jockey Club in Las Vegas, costs between 29,000 and 36,400 points depending on the room size. Considering that a weekly stay at the Cosmopoliton (the hotel right next to and attached to the Jockey Club) costs only $800 a week to stay it's clear we got a bad deal. In addition, the Jockey Club appears to be booked 90 days in advance.. with the weeks that they said we could "resell" at a profit booked long.. LONG before we could even think about trying that.

However, you all might be able to show me a silver lining if there is one.. either something that might be worthwhile to sell to a new owner, or something else I might want to consider.
 

TUGBrian

Administrator
Joined
Mar 24, 2006
Messages
19,086
Reaction score
4,305
Points
749
Location
Florida
i think this post got moved to its own thread? sorry I didnt catch it before!

unfortunately your story is not an uncommon one, where what you were "sold" in the presentation is clearly different than what you "bought" on paper :(

and to add insult to injury, you could likely have picked up that same package on the resale market from an existing owner for $1 :(

the best advice we can give now is to learn how to make the most of your timeshare and enjoy the vacations it offers (albeit limited vs what you were told).
 

travelplus

Guest
Joined
Jun 30, 2012
Messages
275
Reaction score
17
Points
79
Location
Silicon Valley CA
I'm so sorry the OP was misled. Is there a possibility of doing a Quit Claim and get a full refund as the OP clearly bought something that was not advertised well in terms of what his points could get him? It took two months to get the verification letter. What I would do OP is if you can get a full refund then run and go and find a better Resale Unit.

We own Deeded Weeks as part of our Resale and we can use it without a problem at our home resort and just have to plan for exchanges. What you may want to do is to research here on TUG BBS more about how to get a better resale for at least a 2 bedroom a lockoff portion(1 Bedroom and Studio) can be split with RCI but with Interval its best to Deposit the full 2 bedroom(Like for like).

If you simply can't get out of the contract see about renting out the points to cover a resale this year and then keep those points and either use it or deposit them to RCI Points or Interval Points. In my opinion buying in Las Vegas does not trade as well as buying in Palm Desert CA or Sedona Arizona. Las Vegas is just like Orlando. Now I can easily trade my Sedona week for a Las Vegas week unless there is a major convention going on such as the CES.

I would try and get out of the contract especially with the Maintenance Fees. Just to put it into perspective OP we bought 4 weeks for $4,000 dollars 2 bedroom Lock Off and we pay $5000 a year in Fees but we say that its better than staying at a hotel. We Exchange using II and RCI and piggyback our owner week. So two of the resorts are for Exchanges and the other two are for use of Owners Weeks. We can switch things around and even use our Owner Week if we wish to do so..

We got three weeks in Sedona two at the resort we own at plus one week using RCI. Yes you do pay an Exchange Fee but it equals one or two nights at a hotel and you get a week in a nice 2 bedroom sometimes we have to settle for a 1 bedroom.

OP If we can help you we would love to do so.
 

TUGBrian

Administrator
Joined
Mar 24, 2006
Messages
19,086
Reaction score
4,305
Points
749
Location
Florida
unfortunately a quit claim deed has to be accepted by both parties...its not just a matter of an owner choosing to give it up...the resort must agree to take it back.

its also important to know where the loan balance is held, is it actually paid to the developer/sapphire...or a 3rd party lender. the latter making it far more difficult to get out of as they really have nothing to do with the timeshare agreement, they merely just lent you money to buy something.
 

bu11fr0g

Guest
Joined
Nov 23, 2016
Messages
2
Reaction score
1
Points
1
Resorts Owned
Sapphire Resorts
Yeah, they seem pretty adamant about not taking the property back. One additional note: It looks like the Sapphire points translate to RCI points as well, 1:1, which may not be so bad... though the rates are a bit strange. For example, a typical single room, 4 person occupancy week costs 20,240 points.. and there appears to be quite a few RCI Las Vegas timeshares. So, we might be able to make something of this yet.. maybe.
 
Top