I accompanied my aunt to her doctor's office about a year ago. She mentioned to him that I own a "few" timeshares (her words, not mine--we own 15+). He began discussing it with me and I learned that he owns a two bedroom lock off unit at a Marriott in Orlando--Gold season--bought from the developer in 2005 for $31,000. . He said he was considering buying another week the same way.
I asked if he knew that prices were much lower through the resale market and he said he was aware of it but he wouldn't get all the points and perks if he goes that route. I advised him to do some research, and add up the figures, before buying anything more at full freight. I recommended that he visit TUG, Redweek, etc... and told him to also check Ebay. I wrote out info about how to find each web site.
Fast forward to this month. I received a phone call from the doctor. He wanted some advice about selling his Marriott. He went on to say that in February he went on vacation to Puerto Vallarta and wound up paying another $31,000. to purchase a one bedroom unit at "Villa del Palmas Flamingo". After much questioning it seems that he has actually bought a RTU contract at Universal Vacation Club at Villa del Mar. But I'm not sure and neither is he. I suggested he make copies of the pertinent documents and let me review them.
Doctor said he and his wife spent 8 hours at the presentation. He gave a long description of all the usual lies one hears at the typical presentation, especially in Mexico. A lot of what was told to him then does not appear in writing in the documents he received. The first price quoted was $39,000. and they wouldn't budge on it for 2 hours. The saleman also "went into a back room," allegedly made some phone calls, and returned with some "great news." His "reputable sources" determined that the doctor could sell their Marriott for $39,000..After much game-playing the price of the Mexican timeshare inched down to $31,000.. And that point he bought it, figuring he could sell the Marriott for $39,000., pay for the Mexican timeshare, and even have some money left over to pay off credit card bills.
When they returned from vacation, his daughter (from a previous marriage) did research on the Internet and found many articles and complaints about Mexico timeshare scams. Doctor is now calling me hoping I will tell him that he didn't get "fleeced." He also wanted to know the best way to go about selling his Marriott timeshare. He says his wife contacted Marriott and they want a 40% commission to do it. I asked what price they proposed to sell it for. He wasn't sure but he thinks it's around $20,000.. (I'm finding what appear to be comparable units on Redweek for about $10,000). He now realizes that the $39,000. price quoted by the Mexico ts salesman was bogus. DUH!
It's very discouraging to see a mature, educated, intelligent man get into a situation like this AFTER I had told him about the resale market AND given him written URLs to check out TUG, Holiday Group, Redweek, Timesharing Today Magazine, etc.... I told him a year ago that the $31,000. Marriott he already owned could have been purhased for 25-50% of that price. He was very defensive about the "extra value" of the "free" points that had come with his developer purchase. Okay, he's not the only one who takes that stance. But to then go to Mexico and believe a sleazy salesman who tells him it's worth $39,000. makes no sense. And to pay $31,000. to buy a "membership" (or whatever you call it) in a property that is available resale on Redweek for under $10,000. is lunacy.
Most of us feel sorry for the people who find their way to TUG after they have bought from a developer. But there are apparently tons more people who already know about the resale market and still succumb to the trickery of slick sales people.
I guess the developers will continue to operate in this dispicable way because there are enough fools out there to make it well worth their while.