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We just bought a Jockey Club timeshare

Syquinn

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  1. We just purchased a jockey club timeshare...triennial. the idea being that gets our foot in the door to buy extra weeks for cash. RCI is the partner. What do you all think, did we make a decent purchase? We paid 8k and the maintenance. Is 450 per year. We get 23k points every 3 years. Sapphire resorts is the name of the company. Thanks, Shawn.

  2. 1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where? We like to travel to new places.

    2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time? Trade.

    3) What are your 5 top trade destinations? San Francisco, Maine, Southern California, Nice resorts on the East Coast

    4) How many people do you usually travel with - total, including yourself? 3

    5) Can you travel any time, or are you locked into the school schedule? School schedule

    6) Can you make firm plans 12 or more mos. in advance? Yes!

    7) Can you vacation for a full week at a time? Yes!

    8) What level of accommodations do you prefer on a scale of 1 to 5 stars? 4 to 5 stars

    9) How much can you afford to spend upfront, without financing? Money is not an issue

    10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year? Again, money not an issue but we don't like to waste money

    11) Are you a detail oriented planner? Yes!

    12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do? Yes.
 

Shaun

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  1. We just purchased a jockey club timeshare...triennial. the idea being that gets our foot in the door to buy extra weeks for cash. RCI is the partner. What do you all think, did we make a decent purchase? We paid 8k and the maintenance. Is 450 per year. We get 23k points every 3 years. Sapphire resorts is the name of the company. Thanks, Shawn.

  2. 1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where? We like to travel to new places.

    2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time? Trade.

    3) What are your 5 top trade destinations? San Francisco, Maine, Southern California, Nice resorts on the East Coast

    4) How many people do you usually travel with - total, including yourself? 3

    5) Can you travel any time, or are you locked into the school schedule? School schedule

    6) Can you make firm plans 12 or more mos. in advance? Yes!

    7) Can you vacation for a full week at a time? Yes!

    8) What level of accommodations do you prefer on a scale of 1 to 5 stars? 4 to 5 stars

    9) How much can you afford to spend upfront, without financing? Money is not an issue

    10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year? Again, money not an issue but we don't like to waste money

    11) Are you a detail oriented planner? Yes!

    12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do? Yes.
I think that they are almost giving away jockey club timeshares on the resale market. I just looked on Redweek and there is one for $400. I know a broker that is listing one for probably pennies on the dollar. I'd suggest to rescind your contract but others can "chime in" here.

Edit - I looked on the Tug marketplace and I found a jockey club for sale for a penny and one for $49 so I would definitely consider rescinding what you bought.
 
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Passepartout

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Rescind! This is WAAAY too expensive. $450 per yr MF to get 23K RCI Points which will also cost almost $100/yr membership AND almost $300 exchange fees to redeem, is hiway robbery. 23K will only get 2nd tier units in off season. There are many resales on eBay and TUG for a few bucks that offer far more points for far fewer $.

Time is short. Nevada only allows 5 days to get that rescission letter postmarked. Do it today. Save yourselves $8,000 and far more years of not being able to do what you envision.

Jim
 
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easyrider

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Definitely cancel that while you can. I doubt you know what you bought. I doubt you know how to really use it in the way the sales team defined the usage.

Bill
 

Passepartout

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Definitely cancel that while you can. I doubt you know what you bought. I doubt you know how to really use it in the way the sales team defined the usage.

Bill
I'm kind of surprised. The OP is a paid TUG member of over 8 months. Certainly happy that they posted in time to remedy this expensive mistake.
 

Syquinn

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Ok, will cancel. This timeshare business is confusing. I have been reading this for a while. Its intimidating to buy resale. Maybe people could make some recommendations of what would be best for us.
 

Syquinn

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I'm kind of surprised. The OP is a paid TUG member of over 8 months. Certainly happy that they posted in time to remedy this expensive mistake.
I am embarrased to be so stupid. Sorry for the mistake.
 

Passepartout

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I am embarrased to be so stupid. Sorry for the mistake.
No apology necessary! We are happy you asked TUGgers' opinion. There are so many good deals around that there is no need to buy a bad one.
 

HDiaz1

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Ok, will cancel. This timeshare business is confusing. I have been reading this for a while. Its intimidating to buy resale. Maybe people could make some recommendations of what would be best for us.
I bought resale here on TUG marketplace and didn't have any issues.
I see Sapphire resorts for free all the time. As everyone mentioned, rescind and keep your $8K.

There are a lot programs. I decided on Wyndham since we go to Destin, FL almost every year. You mentioned San Francisco, Maine, Southern California and the East Coast. Wyndham has resorts in all those areas.

Maybe start here and then move on to the other programs.
https://tug2.net/timeshare_advice/timeshare-system-comparison-chart.html

Good luck.
 

Shaun

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I am embarrased to be so stupid. Sorry for the mistake.
You're not stupid at all. You're actually very smart for asking, most people don't. I'm new to timesharing as well, I just bought my first one (resale market) Marriott Maui a couple of months then just bought two more. If I paid less than you are paying for the Jockey Club then you definitely need to rescind. Are you still in your timeframe to do that? Do it quickly as was mentioned above, Nevada has a short timeframe. Good luck!
 

Passepartout

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Ok, will cancel. This timeshare business is confusing. I have been reading this for a while. Its intimidating to buy resale. Maybe people could make some recommendations of what would be best for us.
No reason to be intimidated. Just gather the facts on an interval that interests you, then if it meets your needs, pull the trigger. Timeshares are easy to buy- maybe too easy- and hard to sell or give away. But from your questionnaire answers, it appears you want the flexibility of a points system. You don't mention your geographic area, so if it's in the West, I'd suggest Worldmark. If generally East, Wyndham would give you more choices. Both include RCI membership, so if there is not an internal exchange there, you can exchange (at extra cost) through RCI. They may not be strong 5 star luxury like the hotel branded TSs, but are at least as nice as Jockey Club. They are both readily available as resales and can be easily bought.

That's a start.

Jim
 

Shaun

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Ok, will cancel. This timeshare business is confusing. I have been reading this for a while. Its intimidating to buy resale. Maybe people could make some recommendations of what would be best for us.
I could help guide you an a purchase such as I bought at the Marriott in Maui on the resale market but from the sounds of what you posted, you are looking to do more of a variety of traveling. I haven't learned about that yet because I just bought my "weeks" to specifically travel to Maui. I can tell you though, try to not get intimidated. It's very easy to buy resale. In the Tug marketplace you can buy resale timeshares or points and also on Redweek. Don't pay anyone directly but make sure that you go through an escrow/transfer company. LT transfers is good and will help. LT doesn't do Hawaii so I've used other companies to do transfers in Hawaii. You can also private message me and I'd be happy to help however that I can but I don't know anything about Wordmark or Wyndam or the points system but I do know how to buy and make sure that you get setup with a legitimate escrow/transfer company. Don't let it scare you, it becomes very easy to learn and navigate.
 
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Karen G

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Once owned these: FirstFairway@Walden X 2; Lawai Beach; ManhattanClub; PuebloBonitoRose; 4 South Africa--now timeshare-free
Time is short. Nevada only allows 3 days to get that rescission letter postmarked. Do it today. Save yourselves $8,000 and far more years of not being able to do what you envision.

Jim
I urge you to rescind as well, but you do have five calendar days in Nevada: In Nevada, you may cancel, by written notice, the contract of sale for a timeshare purchase up until midnight of the fifth calendar day following the date you signed the contract (Nev. Rev. Stat. § 119A.410(1)). The contract of sale must include a statement of the right to cancel.
 

Passepartout

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I urge you to rescind as well, but you do have five calendar days in Nevada: In Nevada, you may cancel, by written notice, the contract of sale for a timeshare purchase up until midnight of the fifth calendar day following the date you signed the contract (Nev. Rev. Stat. § 119A.410(1)). The contract of sale must include a statement of the right to cancel.
I stand corrected about the number of days- I'll correct my post, and thank you for advising on the necessity of the statement of right to cancel. (Nev. Rev. Stat. § 119A.410(1)
 

TUGBrian

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congrats on saving 8k!
 

mjm1

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Ok, will cancel. This timeshare business is confusing. I have been reading this for a while. Its intimidating to buy resale. Maybe people could make some recommendations of what would be best for us.
Like others I’m glad you found TUG in time to rescind. My DW and I attended a sales presentation at the Jockey Club several years ago because we wanted to check out the resort. When the closer/manager joined the conversation and said that they are “the Cadillac of timeshares” it took all of my energy to not bust out in laughter. There are a number of good systems available, so don’t rush your decision. Do research here and visit some potential resorts of interest if you can. Then make a decision.

Best regards.

Mike
 

SteelerGal

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Rescind and search for a resale. I have purchased off of Redweek, EBay and TUG. No issues. Haven’t had an issue. As others have indicated, TS are easy to buy however can be difficult to sale or giveaway.
 

Syquinn

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Ok, I walked in the recision letter. They were very nice. They had e fill out their form as well and made copies of everything for me. Now I just need to figure out what system to buy. I think I'll start a different thread for this. Thank you all for the feedback.
 

Cornell

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Like others I’m glad you found TUG in time to rescind. My DW and I attended a sales presentation at the Jockey Club several years ago because we wanted to check out the resort. When the closer/manager joined the conversation and said that they are “the Cadillac of timeshares” it took all of my energy to not bust out in laughter. There are a number of good systems available, so don’t rush your decision. Do research here and visit some potential resorts of interest if you can. Then make a decision.

Best regards.

Mike
And what if you don't like Cadillacs ? ;)
 

easyrider

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I am embarrased to be so stupid. Sorry for the mistake.
You are actually smarter than most of us, lol. Most of us bought a timeshare full price before we found Tug.

Regarding finding a timeshare. There are many free ones listed at Tug every day. For me, I like the flexibility of Worldmark. I don't like deeded one location timeshares. Worldmark has three locations in Las Vegas. I think over 125 locations in all. At least 60 locations when buying resale. Trades very well in RCI, II and SFX.

Bill
 

mjm1

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And what if you don't like Cadillacs ? ;)
True. But even if one did think Cadillac is the best, the Jockey Club is more like a Yugo. The only thing that we could see is good about them is their location on The Strip.

Best regards.

Mike
 

jancpa

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There is an Ebay listing of a 20,000 point even year week from Sapphire Resort with a 30 year old picture of the
Jockey Club for $1 which expires in 22 days.
 

Passepartout

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Ok, I walked in the recision letter. They were very nice. They had e fill out their form as well and made copies of everything for me. Now I just need to figure out what system to buy. I think I'll start a different thread for this. Thank you all for the feedback.
You got lucky. We never recommend walking a rescission letter into a salesroom. Often the sales force will gang up on the buyer to talk them out of the rescission and save their commission. Or the business office is elsewhere that actually processes the rescission. It sometimes results in an uncomfortable confrontation. Sometimes the rescission letter will just be put in the trash instead of being forwarded to the correct office. We're happy it seems to have worked out for you.

Jim
 

Syquinn

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We arrived home from our trip to find an email offering the same program for $2495 with maintenance fees of $276 for the first year and half of that for future years. Geeze. Makes me think the whole thing is a scam. Has anyone purchased Sapphire resorts or used them? Anyway, I think we will go another direction.
 

CPNY

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  1. We just purchased a jockey club timeshare...triennial. the idea being that gets our foot in the door to buy extra weeks for cash. RCI is the partner. What do you all think, did we make a decent purchase? We paid 8k and the maintenance. Is 450 per year. We get 23k points every 3 years. Sapphire resorts is the name of the company. Thanks, Shawn.

  2. 1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where? We like to travel to new places.

    2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time? Trade.

    3) What are your 5 top trade destinations? San Francisco, Maine, Southern California, Nice resorts on the East Coast

    4) How many people do you usually travel with - total, including yourself? 3

    5) Can you travel any time, or are you locked into the school schedule? School schedule

    6) Can you make firm plans 12 or more mos. in advance? Yes!

    7) Can you vacation for a full week at a time? Yes!

    8) What level of accommodations do you prefer on a scale of 1 to 5 stars? 4 to 5 stars

    9) How much can you afford to spend upfront, without financing? Money is not an issue

    10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year? Again, money not an issue but we don't like to waste money

    11) Are you a detail oriented planner? Yes!

    12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do? Yes.
Big mistake. Rescind and rescind NOW you can get great resorts free with free closing and high trading value in interval. They are giving away Sheraton desert oasis, Westin In palm desert, Marriott’s in vail, Caribbean destinations etc. the MVC properties will give you amazing trades. If you don’t rescind I’ll be depressed for a year. Please don’t do that to me lol. I find your Answer to number 10 funny. You don’t like to waste money yet you paid 8K for a worthless vacation ownership lol. Do more research before you buy. Then get a free one somewhere. Preferably in a good network like Marriott or HGVC
 
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