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Will Marriott penalize resale owners?

tombo

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The theory is great that Marriott would ROFR everything $1 below retail to help owners, but the fact is they only ROFR what will benefit them. If they did ROFR them all, people would quit making any offers to buy for any price. If they agreed to buy the weeks back from owners for a set price, that would help everyone and raise reale prices. If you think the value of your Marriott is high because of ROFR, list it for sale for 60% of the current Marriott selling price and see if you get a single buyer to contact you. What Marriott gets for weeks retail is irrelevant to a current owner, all that matters to the owner is what he could sell his week for if he needed to. The reality of trying to sell your week will wake you up to what resale prices really are. People here want to know why people sell their weeks so cheap on e-bay. If you have listed it for sale for a year lowering the price numerous times with no real offers, an e-bay real offer will sound pretty good. At least you won't have to pay another year's MF's. There are few buyers out there, and even fewer who want to pay a high price. Just list your week for sale and see. You don't have to actually sell it if someone does happens to try and buy it.

The diamond analogy won't work. Most every woman in the US wants a diamond engagement ring, most want diamond ear rings, many want diamond bracelets etc. The diamond prices are manipulated high and us guys pay it for the women we love. However, most women could care less about a timeshare week. Ask at work, church, sporting events how many of your friends own timeshares. Not only do most not own them, most will tell you they wouldn't own one for free. I quit telling people that I own timeshares because of the negative responses I received. Marriott has a product with a limited customer base and they can't manipulate price on the open market like Debeers can with diamonds. You can resell your diamond tomorrow in any city at any jewelry store or at any pawn shop. Try doing that with your Marriott. Somehow debeers seems to keep diamond prices high without having ROFR on your wife's engagement ring.
 
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PerryM

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Warning - radar patrolled...

I was absolutely NOT going to get involved in the ROFR discussion, but I was unable to control myself on this one. If Marriott were to ROFR 100% of the resales, then sooner-or-later no one would ever bid on Marriott resales.

My concern that led to the creation of this thread was the potential for Marriott to destroy my ability to sell my timeshare if a downturn in life were to force me to sell. I suspect that manyTUGGERs are in the same boat as I am - getting up there in age. Who knows when we might not be able to take these expensive vacations anymore. I dread the thought of having to pay yearly MFs on a timeshare that I am unable to use and cannot sell.


The ROFR is like a traffic cop – they don’t need to be on every street corner aiming their radar guns – just random times and random locations does the same job. Same with the ROFR – Marriott only cares about itself and when it sees a juicy sale they step in and become the buyer. As an unintended consequence they provide support for ALL Marriott owners.

No one outside of a few chat rooms knows when they do it and at what price – just the rumor is enough to keep bottom-feeders at bay, and that’s what the ROFR addresses the fear of losing a sale has interested buyers submitting bids near the 60% of current sale level.
 

Pit

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The only person impacted by a ROFR is our bottom-feeder (I’m a proud member of that family) we low-ball an offer and there is a good chance it will be snatched away from us. So, we simply raise our offer – the logical consequence of the ROFR!

Actually, a more logical consequence of ROFR is to lower your offer price.

They only exercise ROFR when they want the inventory. For each time they +1 to their inventory, the next one has less value to them. I bet they even have a formula for calculating the price at which they're willing exercise ROFR. And, once they have enough inventory on hand, they simply pass.
 

tombo

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Lowering your offer is one option. Many of us who buy a lot of timeshares simply refuse to make any offer at all at a resort that has ROFR. Contrary to many people's belief here, buyers don't have to buy marriott weeks at any price, and we don't feel obligated to raise our price. We simply don't make any offer at all thanks to ROFR. Marriott's are great timeshares, but even on TUG, only about 25% of TUG members own Marriott. 75% of TUG members seem happy without a Marriott week.

I don't want to own at any resort that has ROFR because I want to be able to sell my week I paid for in full, to anyone I want ,for any price I want. If I want to sell my week to my secretary or neighbor for $1, I own it, pay MF's on it, and I'll be damned if any resort will tell me who I can sell my week to or at what price.

I have seen plenty of E-bay bids recently where I would have bid higher than the winning bid if not for ROFR. Tell the owners who received lower prices for their weeks thanks to me not bidding the price higher how happy they should be with ROFR. There are 3 diffferent Marriott e-bay sales in the last month that I would have bid $500 to $1000 more than the winning bid if there was no ROFR. That is 3 examples where ROFR lowered the sale price from me alone not bidding. How many others like me aren't making offers thanks to ROFR lowering the price received by many owners on many sales?

Marriott makes you fill out everything so they can be sure it was a legitimate sale, not just a fake sale to get them to buy an owner's week. You can do a fake sale to get them to ROFR though. I know someone who did it and dumped a Westgate that way. If you can't sell your Marriott week, fill out paperwork for say $10,000 with your neighbor buying it. if Marriott ROFR's you got rid of your week. If they don't tell marriott that your buyer backed out while waiting for them to ROFR. Then wait a while and send them a different buyer for $9000. Repeat until successful. If you do it this way, ROFR might actually be good for buyers. Beat them at their own game and actually make ROFR work for you. Then when you get out never buy a week from any resort that has ROFR.
 
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PerryM

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Lowering your offer is one option. Many of us who buy a lot of timeshares simply refuse to make any offer at all at a resort that has ROFR. Contrary to many people's belief here, buyers don't have to buy marriott weeks at any price, and we don't feel obligated to raise our price. We simply don't make any offer at all thanks to ROFR. Marriott's are great timeshares, but even on TUG, only about 25% of TUG members own Marriott. 75% of TUG members seem happy without a Marriott week.

I don't want to own at any resort that has ROFR because I want to be able to sell my week I paid for in full, to anyone I want ,for any price I want. If I want to sell my week to my secretary or neighbor for $1, I own it, pay MF's on it, and I'll be damned if any resort will tell me who I can sell my week to or at what price.

I have seen plenty of E-bay bids recently where I would have bid higher than the winning bid if not for ROFR. Tell the owners who received lower prices for their weeks thanks to me not bidding the price higher how happy they should be with ROFR. There are 3 diffferent Marriott e-bay sales in the last month that I would have bid $500 to $1000 more than the winning bid if there was no ROFR. That is 3 examples where ROFR lowered the sale price from me alone not bidding. How many others like me aren't making offers thanks to ROFR lowering the price received by many owners on many sales?

Marriott makes you fill out everything so they can be sure it was a legitimate sale, not just a fake sale to get them to buy an owner's week. You can do a fake sale to get them to ROFR though. I know someone who did it and dumped a Westgate that way. If you can't sell your Marriott week, fill out paperwork for say $10,000 with your neighbor buying it. if Marriott ROFR's you got rid of your week. If they don't tell marriott that your buyer backed out while waiting for them to ROFR. Then wait a while and send them a different buyer for $9000. Repeat until successful. If you do it this way, ROFR might actually be good for buyers. Beat them at their own game and actually make ROFR work for you. Then when you get out never buy a week from any resort that has ROFR.

This is where we disagree – allowing a foolish owner to dump their Marriott at a low price hurts ALL other owners. Next time we try to sell that low-ball sale will impact us. It’s out in eBay history for a while and resellers use it in their comps to calculate what a week should sell for.

This is why I want Marriott to step in and save us from foolish owners who, for a host of reasons, wants to hold a firesale. That ROFR keeps outsiders from benefiting and hurting the existing owners.

I’d rather have Marriott make a few bucks and keep the sales office open then to have it close the door and allow owners to harm the rest of us and some sap we don’t know to benefit from the low-ball sale.

If a person doesn’t want to buy Marriott then don’t let the door kick them in the butt on the way out.

A perfect example of owners holding firesales is WorldMark - 5 years ago the developer charged $1.55 per WM credit and resale credits sold for about 80 cents each. Now the developer sells them for $1.99 and resales easily go for 65 cents.

Those owners who divorce (50/50 chance there) or need cash for food or pass away and the kids want to get out of the MFs are killing the resale price. There is no ROFR in WM and the developer, Wyndham, considers all 260k owners as a direct threat since resales are so cheap to the same thing they sell.

I'll take an active developer and ROFR any day.

Save me from all those crazy owners who feel that $1 is just fine to dump their timeshare.
 
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Steve

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Caution all Marriott owners...

If a person doesn’t want to buy Marriott then don’t let the door kick them in the butt on the way out.

Touche.

It wasn't that long ago that you dumped your Marriott Mountainside weeks and purchased tens of thousands of WorldMark credits. At the time, you advised everyone to follow your lead and do likewise.

Of course, since then, the Marriott weeks that you sold have continued to rise rather significantly in value. While, at the same time, the WorldMark credits you bought have dramatically decreased in value.

(I realize that you purchased a Summit Watch gold week on the resale market, and have used it to make all sorts of trades into Park City and Maui that we, of course, should all be green with envy over).

However, the fact remains that you basically cashed out your Marriott ownership in favor of WorldMark. Indeed, you were extremely vocal about this. Yet, in this thread, you act like this great champion of Marriott.

I hope your new found enthusiasm for Marriott isn't a harbinger of bad things to come. After all, you certainly touted...and purchased...Windjammer Tall Ship ownership, a condo hotel in Daytona Beach, fractional Trendwest ownership in South Shore Lake Tahoe, and WorldMark...all of which have tanked big time after you purchased. (Not counting your infamous Westgate Las Vegas purchase.) Marriott owners, look out! :)

Steve
 

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Touche.

It wasn't that long ago that you dumped your Marriott Mountainside weeks and purchased tens of thousands of WorldMark credits. At the time, you advised everyone to follow your lead and do likewise.

Of course, since then, the Marriott weeks that you sold have continued to rise rather significantly in value. While, at the same time, the WorldMark credits you bought have dramatically decreased in value.

(I realize that you purchased a Summit Watch gold week on the resale market, and have used it to make all sorts of trades into Park City and Maui that we, of course, should all be green with envy over).

However, the fact remains that you basically cashed out your Marriott ownership in favor of WorldMark. Indeed, you were extremely vocal about this. Yet, in this thread, you act like this great champion of Marriott.

I hope your new found enthusiasm for Marriott isn't a harbinger of bad things to come. After all, you certainly touted...and purchased...Windjammer Tall Ship ownership, a condo hotel in Daytona Beach, fractional Trendwest ownership in South Shore Lake Tahoe, and WorldMark...all of which have tanked big time after you purchased. (Not counting your infamous Westgate Las Vegas purchase.) Marriott owners, look out! :)

Steve

Thanks for the kind words.

There is a trick with WM that many use to protect themselves from falling WM resale prices. I expect to make a handsome profit from our WM account when we eventually sell it.

The other purchases have been explained in past posts, I eventually expect to make a profit from all of them but Windjammer - that company went belly up and I lost 40% of our investment - the same as if I had bought a Marriott. (We took cruses on their other shiip and rented our usage out)

I am glad to see folks trying to keep up with me :)

P.S.
If you want to keep up you've got to PM and ask questions - just a suggestion.

Maybe I need to actually say it - if you believe in a decision and the market goes against you then stick to your guns and don't panic. I hope folks owning stock this year don't panic and sell - it will turn around... Same with real estate.... The alternative is to count yourself as a loser and dump your investment - as soon as you do you do know the market will turn around don't you?
 
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Steve

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There is a trick with WM that many use to protect themselves from falling WM resale prices. I expect to make a handsome profit from our WM account when we eventually sell it.

Yes, you have a non-housekeeping account with WorldMark. But who wants an account with 60,000 + or - credits? (Especially when you can buy a little 6000 credit account and rent all you need from other owners???) There aren't a lot of buyers for accounts that big. So you may have to split them off into a much smaller account in order to sell. That, in turn, might cause you to lose money overall...even if you make money on the non-housekeeping part of the sale.

Or, Wyndham could change the rules. Perhaps non-housekeeping status could be barred from transfering to a new owner. Or perhaps only the original size of the account (say 6000 or 10,000 credits) could be transferred as non-housekeeping. That could force you to split the account. Things are definitely changing in WorldMark.

Steve
 

PerryM

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Yes, you have a non-housekeeping account with WorldMark. But who wants an account with 60,000 + or - credits? (Especially when you can buy a little 6000 credit account and rent all you need from other owners???) There aren't a lot of buyers for accounts that big. So you may have to split them off into a much smaller account in order to sell. That, in turn, might cause you to lose money overall...even if you make money on the non-housekeeping part of the sale.

Or, Wyndham could change the rules. Perhaps non-housekeeping status could be barred from transfering to a new owner. Or perhaps only the original size of the account (say 6000 or 10,000 credits) could be transferred as non-housekeeping. That could force you to split the account. Things are definitely changing in WorldMark.

Steve

Steve, Steve I don't own 60k credits - please check your facts before inserting your.....

We could be invaded by flying saucers too - I don't worry about that either.

Things ARE NOT changing at WM - you're listing to too many rumors.

I haven't set foot in a WM resort in 2+ years now and the next 12 months have me in Marriotts. The arrangement WM has with II is rock solid - please don't start a rumor that it is not; it will just contribute to the falling WM prices.

Of course it's a great time to buy WM at 65 cents a credit!

If I can offer more cathartic support please let me know - I'm here for you buddy.
 

Steve

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Things ARE NOT changing at WM - you're listing to too many rumors.


Of course it's a great time to buy WM at 65 cents a credit!

Anyone who tries very hard can purchase WorldMark credits for 50 cents a credit. Things are apparently changing at WM even faster than you realize.
 

Latravel

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Not everyone has to own a Marriott but a lot of people would like to stay there. I went to a Hilton presentation and they just basically said how they are comparable to Marriott. When we went to a Diamond/Sunterra presentation in Tahoe, we said we were thinking about buying Timberlodge (we eventually did). They told us, "Marriott is in a completely different league". I am part of a different timeshare board and a main topic of conversation is how to trade into Marriotts.

Though one of the above posters said that not everyone wants a Marriott, it is obviously a high demand product and a leader in the field.
 
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PerryM

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Anyone who tries very hard can purchase WorldMark credits for 50 cents a credit. Things are apparently changing at WM even faster than you realize.

I bought 65 cents 3 years ago - there are always fools selling for ridicules prices.

I always quote the largest reseller of WM credits - I've kept his eMails since we bought ours 5 years ago for 80 cents.

I did make a forecast, many years ago here on TUG, that I believed resale WM credits would fall to 38 cents - adjusting for inflation that's 43 cents today. My forecast will be met within a few years.

Does that mean folks should avoid WM - hell no. WM is a fantastic bargain now - you can easily make 3 - 4 times the rental income versus the MF. I do all the time.

There are lots of reasons to buy WM even with falling prices.

Folks, you've got to think outside the box a little...
 

Latravel

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When I was at Marriott Maui Ocean Club last April, I asked one of the ladies by the pool which Marriott she owned. She said she wasn't a Marriott owner, she traded into the MOC with her WorldMark points she purchased from EBAY. It really made me think.
 

tombo

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This is where we disagree – allowing a foolish owner to dump their Marriott at a low price hurts ALL other owners. Next time we try to sell that low-ball sale will impact us. It’s out in eBay history for a while and resellers use it in their comps to calculate what a week should sell for.

This is why I want Marriott to step in and save us from foolish owners who, for a host of reasons, wants to hold a firesale. That ROFR keeps outsiders from benefiting and hurting the existing owners.

I’d rather have Marriott make a few bucks and keep the sales office open then to have it close the door and allow owners to harm the rest of us and some sap we don’t know to benefit from the low-ball sale.

If a person doesn’t want to buy Marriott then don’t let the door kick them in the butt on the way out.

A perfect example of owners holding firesales is WorldMark - 5 years ago the developer charged $1.55 per WM credit and resale credits sold for about 80 cents each. Now the developer sells them for $1.99 and resales easily go for 65 cents.

Those owners who divorce (50/50 chance there) or need cash for food or pass away and the kids want to get out of the MFs are killing the resale price. There is no ROFR in WM and the developer, Wyndham, considers all 260k owners as a direct threat since resales are so cheap to the same thing they sell.

I'll take an active developer and ROFR any day.

Save me from all those crazy owners who feel that $1 is just fine to dump their timeshare.

The arrogance of this quote is amazing. If someone gets divorced, loses their job, or dies leaving a white elephant to their heirs, that doesn't give them the right to get out from under the obligation as quickly as they can for whatever price they can get because it might hurt your resale price! Marriott won't offer to buy their week or find them a buyer, so they must hang in there for months or years until they find someone who will buy their week for a price, any price to stop the bleeding. Of course if they can't afford the MF's, kind old marriott with the wonderful ROFR will put them in collections and get the week for nothing after foreclosing. This will make the resale price zero (that is what Marriott will pay) and add to the owner's problems by damaging their credit at a rough time in their life.

It doesn't just happen to Worldmark owners. Marriott owners aren't immune from these life changing events. Perry it might come as a shock to you but some Marriott owners will be laid off or fired, 50% or more will get divorced, and I assure you that all Marriott owners will die. You expect them to keep paying MF's they can't afford at a location they can't afford to vacation at until they receive what you consider an acceptable selling price. You said that it is a foolish owner who dumps his/her Marriott week? No Perry, it is an owner in bad health or bad financial situation who dumps their week.The owners with plenty of money keep paying MF's year after year while advertising their week for the high prices which they feel sure they will get thanks to ROFR. After months or years of the reality that they aren't getting any offers sets in they either just keep it because they realize the loss they will incur if they sell, or they finally sell it for a realistic price where they can actually receive a purchase offer. This realistic price probably won't be acceptable to you either so they should hold out on a "good price" for several more years. When the other owners constantly offer their weeks for sale for less than you think they should, the ones holding out for your imaginary sale price will NEVER sell their week. You wouldn't pay someone $1000's more than you could buy the same thing from another owner. Keep holding on to that hope and you will forever own your week.

Quit giving ROFR credit for stopping fire sales. ROFR doesn't stop a single one of those people from having a fire sale. The owners will take any offer they can to get out. It will sell for whatever someone offers them (maybe $1), ROFR or no ROFR. How does Marriott step in and help anything? Marriott weeks are selling cheap every day on e-bay and Marriott isn't stopping a single cheap sale from happening. However thanks to ROFR the person who finally made an offer to get the owner out of their week (something Marriott won't do for them) doesn't end up owning the week. If it wasn't for that bottom feeder the owner would be foreclosed on or have to pay another year's MF's they can't afford.

You don't want any "saps" you don't know buying Marriott resale? I didn't know that potential owners had to go through a Perry meet and greet in order to own Marriott. I am positive that you know a very small percentage of the current Marriott owners who bought retail or resale.The saps aren't the ones benefiting from the low ball sale price, the saps are the ones who pay retail.

Those of us wh were not born with a silver spoon in our mouth and people with compassion would understand that people hit hard times and can't afford things they used to be able to afford. We wish them the best and hope they find a way to survive until things turn around. You want them to let other bills slide while paying MF's at a vacation resort. They can't, won't, shouldn't, and for you to not understand that is sad.
 

AwayWeGo

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[triennial - points]
R. O. F. R. = R. O. F. L.

Quit giving ROFR credit for stopping fire sales. ROFR doesn't stop a single one of those people from having a fire sale. The owners will take any offer they can to get out. It will sell for whatever someone offers them (maybe $1), ROFR or no ROFR. How does Marriott step in and help anything? Marriott weeks are selling cheap every day on e-bay and Marriott isn't stopping a single cheap sale from happening. However thanks to ROFR the person who finally made an offer to get the owner out of their week (something Marriott won't do for them) doesn't end up owning the week. If it wasn't for that bottom feeder the owner would be foreclosed on or have to pay another year's MF's they can't afford.
ROFR does not prop up resale values.

Timeshares still sell cheap (some of'm), ROFR or no ROFR mox nix.

ROFR only stacks the deck so that no one but the timeshare company gets to buy the lowball resales.

ROFR = ROFL.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

Pit

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This is where we disagree – allowing a foolish owner to dump their Marriott at a low price hurts ALL other owners. Next time we try to sell that low-ball sale will impact us. It’s out in eBay history for a while and resellers use it in their comps to calculate what a week should sell for.

This is why I want Marriott to step in and save us from foolish owners who, for a host of reasons, wants to hold a firesale. That ROFR keeps outsiders from benefiting and hurting the existing owners.

I don't follow your logic here. Any owners wishing to hold a firesale, are free to do so. ROFR does nothing to change that. If someone wants to dump their week on ebay, they do so. And that ebay history is sitting out there for everyone to see, regardless of whether Marriott picks up the week or not. Rofr does not alter the sale price. That's a good thing, because it allows prospective buyers to determine market value.

Rofr does, however, make the sales process more cumbersome and time consuming. Then, when Marriott refuses to grant a waiver while also refusing to meet terms of the original sales contract, the owner gets strung out. They either have to fight Marriott to get the waiver, or accept whatever terms Marriott offers.
 

timeos2

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The fool is the ROFR believer, sorry

This is where we disagree – allowing a foolish owner to dump their Marriott at a low price hurts ALL other owners. Next time we try to sell that low-ball sale will impact us. It’s out in eBay history for a while and resellers use it in their comps to calculate what a week should sell for.

Perry - As smart as you are why can't you see that ROFR does nothing to to prevent the "dump at low price"? It still occurs it's just hidden from the unsuspecting buyer who hears there's a ROFR and surmises that somehow means they get top dollar. The unit got "dumped at low price" but only Marriott, the shafted potential buyer and the low ball seller know it. It's the ultimate ruse of "protecting your value" while in reality doing worse than nothing to hold prices high. It is a clear case of another smokescreen to making things appear what they are not. All too common in all of timesharing sales/development.
 

AwayWeGo

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[triennial - points]
That R. O. F. R. Kool Aid Is Powerful Stuff.

ROFR does nothing to to prevent the "dump at low price"? It still occurs it's just hidden from the unsuspecting buyer who hears there's a ROFR and surmises that somehow means they get top dollar. The unit got "dumped at low price" but only Marriott, the shafted potential buyer and the low ball seller know it. It's the ultimate ruse of "protecting your value" while in reality doing worse than nothing to hold prices high. It is a clear case of another smokescreen to making things appear what they are not. All too common in all of timesharing sales/development.
Just a few sips of the ROFR Kool Aid & folks become pretty much immune to the reality.

ROFR = ROFL.

So it goes.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

rsackett

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When did this thread become about ROFR & Worldmark points?

I get very tired of people who do not own Marriott turning threads into "Why I will not but ROFR timeshares". I think it is great that you have opinions and stick to them, but why to you always have to bring them up to a group that does not, in general share your opinions?

Do you think it will ever be possible to have a long thread that does not become a ROFR thread, and how you do not need to own Marriott to stay at Marriott?

Ray
 

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[triennial - points]
I Must Have Missed The WorldMark Part.

When did this thread become about ROFR & Worldmark points?
Surely you're not forgetting about the grand TUG-BBS tradition of hijacking discussion topics -- not that there's anything wrong with that.
I think it is great that you have opinions and stick to them, but why to you always have to bring them up to a group that does not, in general share your opinions?
Makes more sense than preaching to the choir, no ?

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
 

Pit

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When did this thread become about ROFR & Worldmark points?

I get very tired of people who do not own Marriott turning threads into "Why I will not but ROFR timeshares". I think it is great that you have opinions and stick to them, but why to you always have to bring them up to a group that does not, in general share your opinions?

Do you think it will ever be possible to have a long thread that does not become a ROFR thread, and how you do not need to own Marriott to stay at Marriott?

Ray

Just a hunch, but I guess that any and every thread discussing Marriott resales will, sooner or later, hit on the subject of rofr.
 

PerryM

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The arrogance of this quote is amazing. If someone gets divorced, loses their job, or dies leaving a white elephant to their heirs, that doesn't give them the right to get out from under the obligation as quickly as they can for whatever price they can get because it might hurt your resale price! Marriott won't offer to buy their week or find them a buyer, so they must hang in there for months or years until they find someone who will buy their week for a price, any price to stop the bleeding. Of course if they can't afford the MF's, kind old marriott with the wonderful ROFR will put them in collections and get the week for nothing after foreclosing. This will make the resale price zero (that is what Marriott will pay) and add to the owner's problems by damaging their credit at a rough time in their life.

It doesn't just happen to Worldmark owners. Marriott owners aren't immune from these life changing events. Perry it might come as a shock to you but some Marriott owners will be laid off or fired, 50% or more will get divorced, and I assure you that all Marriott owners will die. You expect them to keep paying MF's they can't afford at a location they can't afford to vacation at until they receive what you consider an acceptable selling price. You said that it is a foolish owner who dumps his/her Marriott week? No Perry, it is an owner in bad health or bad financial situation who dumps their week.The owners with plenty of money keep paying MF's year after year while advertising their week for the high prices which they feel sure they will get thanks to ROFR. After months or years of the reality that they aren't getting any offers sets in they either just keep it because they realize the loss they will incur if they sell, or they finally sell it for a realistic price where they can actually receive a purchase offer. This realistic price probably won't be acceptable to you either so they should hold out on a "good price" for several more years. When the other owners constantly offer their weeks for sale for less than you think they should, the ones holding out for your imaginary sale price will NEVER sell their week. You wouldn't pay someone $1000's more than you could buy the same thing from another owner. Keep holding on to that hope and you will forever own your week.

Quit giving ROFR credit for stopping fire sales. ROFR doesn't stop a single one of those people from having a fire sale. The owners will take any offer they can to get out. It will sell for whatever someone offers them (maybe $1), ROFR or no ROFR. How does Marriott step in and help anything? Marriott weeks are selling cheap every day on e-bay and Marriott isn't stopping a single cheap sale from happening. However thanks to ROFR the person who finally made an offer to get the owner out of their week (something Marriott won't do for them) doesn't end up owning the week. If it wasn't for that bottom feeder the owner would be foreclosed on or have to pay another year's MF's they can't afford.

You don't want any "saps" you don't know buying Marriott resale? I didn't know that potential owners had to go through a Perry meet and greet in order to own Marriott. I am positive that you know a very small percentage of the current Marriott owners who bought retail or resale.The saps aren't the ones benefiting from the low ball sale price, the saps are the ones who pay retail.

Those of us wh were not born with a silver spoon in our mouth and people with compassion would understand that people hit hard times and can't afford things they used to be able to afford. We wish them the best and hope they find a way to survive until things turn around. You want them to let other bills slide while paying MF's at a vacation resort. They can't, won't, shouldn't, and for you to not understand that is sad.


The ROFR is just like smoking bans – it curtails folks from doing foolish things that impact others. The argument “I have the right…” is moot as soon as that activity harms others in unintended ways.

I’m about as conservative as you can get but I support both issues. Folks can do all the foolish things they want but when their foolishness impacts me I have equal rights too.

I doubt that I can change the mind of the person opposed to the ROFR – I simply state my case for it.

To me there is ample evidence that the ROFR results in higher resale values, assuming the developer find it profitable – it’s 100% optional on the developer’s side.

If a couple divorces and the timeshare is a very sore issue both may agree to sell their Marriott, which sells for $45k, for $100 just to hurt each other – good for them. However that $100 Marriott has detrimental consequences on ALL remaining owners; Marriott knows this and simply steps in to keep that $100 out of the public’s grasp.

This has the direct impact of floating resales to the level Marriott decides to snap up a foolish sale and make some bucks for Marriott’s stockholders – good for them. I want the Marriott sales office kept open and resales as high as possible.

I can’t think of a scenario where the ROFR causes prices to fall – I have yet to see this happen.

The ROFR is a cornerstone to Marriott – the topic of this thread is “Will Marriott penalize resale owners?” the ROFR is an integral part of this topic.

If you want to give your timeshare to a friend for $1 to settle up a poker bet Marriott has every right to yank that sale away and make their stockholders happy!

They built, maintain, and rely on their timeshare reputation and that can't be soiled by poker bets.

P.S.
You all agreed to the ROFR in that paperwork you signed when you bought direct or resale - live by the rules you agreed to - that's my advice to folks. There ain't anything folks can do otherwise - be happy.
 
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AwayWeGo

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[triennial - points]
Detrimental Consequences (If Any) Are Intangible.

If a couple divorces and the timeshare is a very sore issue both may agree to sell their Marriott, which sells for $45k, for $100 just to hurt each other – good for them. However that $100 Marriott has detrimental consequences on ALL remaining owners; Marriott knows this and simply steps in to keep that $100 out of the public’s grasp.

This has the direct impact of floating resales to the level Marriott decides to snap up a foolish sale and make some bucks for Marriott’s stockholders – good for them. I want the Marriott sales office kept open and resales as high as possible.
OK, now you're talking intangibles.

. . . sizzle, not steak.

. . . the comfort that comes from knowing that no bottom-feeding bargain hunters could ever buy for nickels on the dollar what all the other owners had to shell out big bux to get.

. . . the reassurance of not risking exposure to boasting or gloating from any lowball resale buyers. (Wouldn't want to rub shoulders with any of those types while relaxing in the pool.)

Preserving that shroud of insulation from the bottom-feeding bargain hunters is the only benefit the owners get.

Here's hoping they all think it's worth it.

Otherwise, nobody benefits from ROFR but the timeshare company.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

tombo

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OK, now you're talking intangibles.

. . . sizzle, not steak.

. . . the comfort that comes from knowing that no bottom-feeding bargain hunters could ever buy for nickels on the dollar what all the other owners had to shell out big bux to get.

. . . the reassurance of not risking exposure to boasting or gloating from any lowball resale buyers. (Wouldn't want to rub shoulders with any of those types while relaxing in the pool.)

Preserving that shroud of insulation from the bottom-feeding bargain hunters is the only benefit the owners get.

Here's hoping they all think it's worth it.

Otherwise, nobody benefits from ROFR but the timeshare company.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​


Those are very good points I never thought of. After your enightenment I can see why so many owners are supporters of ROFR. If they didin't buy their week for $5000, they don't want anyone else to be able to get one for that price either. It is not that Marriott stopped the $5000 sale from ocurring using ROFr (which marriott can't do), it is the satisfaction of knowing that no one else got to own it for that price. They feel satisfaction that the $5000 sale will be snatched up by Marriott and resold as new for $25,000 or more.

Perry you said:
"I can’t think of a scenario where the ROFR causes prices to fall – I have yet to see this happen."
I have already told you of 3 different e-bay bids in the last month or so that I would have bid $500 to $1000 more than the winning bid on any one of these auctions if there was no ROFR. Those 3 owners lost $500 to $1000 each since the final bid price is all they received whether Marriott ROFR'd or not. These are specific examples of ROFR lowering sale prices, and I own over 20 timeshare weeks so buying 3 more weeks is nothing for me. The fact that I cost those 3 owners $500 to $1000 each because I didn't bid due to ROFR is not a scenario, it is fact.

The fact that ROFR is in the paperwork is why I don't own a week in what I consider the best timeshare organization there is. The reason I keep watching them on e-bay is every now and then I think I might bid and hope it passes ROFR. However ROFR is why I don't own a Marriott and never will bid on one again. I say again because I won 2 different weeks on e-bay and spent all the time doing the closing paperwork and sending my money to find out weeks later that I wouldn't own either week. Now I will never bid again and i will not raise the sale price for the owners wanting every dollar they can get.

Another great Perryism:
"The ROFR is just like smoking bans – it curtails folks from doing foolish things that impact others. The argument “I have the right…” is moot as soon as that activity harms others in unintended ways."
ROFR has never stopped a single owner from selling their week for a low price, and smoking bans have never stopped a single person from smoking. Your analogies are getting weaker. Have another margarita and get back to me. :whoopie:
 
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