Was it a mistake?

You do have great trading value

Don't think that you're limited to RCI with HGVC. Take a look at San Francisco Exchange and Interval International. You get much better deals from those trading organizations, though it will cost a few hundred more in membership fees. Our experiences with RCI have been extremely mixed, but what I like about San Francisco Exchange and II is that you don't deposit your week or points until you find a resort that you like, and they confirm availability.

Asl18940 said:

[W]hat I like about San Francisco Exchange and II is that you don't deposit your week or points until you find a resort that you like, and they confirm availability.

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Using RCI thru HGVC does not require a deposit of anything, either.
After you confirm a booking, HGVC simply deducts points from your account.
If you do a continuing search, points are held while the search is pending.

AFAIK, you cannot join II with a HGVC-TS, unless its at an affiliate resort
(not a true HGVC-resort), which has a relationship with II. HGVC does not.

HGVC'ers have had good luck using SFX, but you need to reserve a week
to trade. Technically, HGVC only allows renting of home-weeks...
[correction:] but as the next poster notes, HGVC works well w-SFX.

Talent312 said:

Using SFX with a HGVC-TS poses difficulties. Some HGVC'ers have had good
luck with them, but you still need to reserve a week to trade, and technically,
HGVC only allows renting of home-weeks, not club-bookings.

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I've been doing exchanges between HGVC and SFX for years and never had any difficulties. In fact, I usually triple my HGVC points with a low HGVC point exchange (3400) thru the SFX bonus program. Thus far, all my exchanges have been HGVC quality or better.

I don't believe that HGVC views this as "renting" but as an exchange. HGVC is very aware of the SFX exchanges and used to have a designated HGVC rep that handled the SFX exchange process. This year was the first that they asked me to get a guest certificate for the SFX exchanger.

Overall, I've been extremely please with the HGVC/SFX exchange process and results.

Originally Posted by timeos2

timeos2 said:

Not long ago the same could be said for the Manhattan Club. Today the weeks are tough to give away so location alone - no matter where - isn't enough to keep resale prices up. This resort is currently too new to have many resales but give it two-four more years and the prices today will seem sky -high and retail is already WAY out of line with the true value. $50K for a week is not and never will be a good deal. Not when there are also annual fees that can reach $2000+ (see MC above).

Buying retail hardly ever represents a good buy / value in timeshares.

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The land itself should cost around $100 million plus for the West 57th location. Each timeshare unit comes with 0.009864% ownership of this land, which translates to $9,864 without any development. Under the worst case scenario of this property being worth nothing more than the prime land on which it is located, it will never go to zero (unless MF go to unrealistic levels)

masala said:

The land itself should cost around $100 million plus for the West 57th location. Each timeshare unit comes with 0.009864% ownership of this land, which translates to $9,864 without any development. Under the worst case scenario of this property being worth nothing more than the prime land on which it is located, it will never go to zero (unless MF go to unrealistic levels)

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The only problem is that timeshare built over top of the priceless land and the pesky timeshare owners who typically inhibit any attempt to repurchase and develop the property. See the many other threads on TUG with examples of bankrupt timeshare properties that cannot sell due to the non-participation of only a few owners.

travelguy said:

The only problem is that timeshare built over top of the priceless land and the pesky timeshare owners who typically inhibit any attempt to repurchase and develop the property. See the many other threads on TUG with examples of bankrupt timeshare properties that cannot sell due to the non-participation of only a few owners.

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But, this is prime location -- it would be foolish not to maximize the value of returns from this property. If developers really wanted this land for an alternative use, they would pay off the owners to get the property. Such offers would be attractive if the outside alternative is $0 for the owners trying to sell the property themselves. The "holdouts" would be paid a premium if necessary.

masala said:

But, this is prime location -- it would be foolish not to maximize the value of returns from this property. If developers really wanted this land for an alternative use, they would pay off the owners to get the property. Such offers would be attractive if the outside alternative is $0 for the owners trying to sell the property themselves. The "holdouts" would be paid a premium if necessary.

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I totally agree with the logic in your post ... BUT the practical experience of those developers trying to "redevelop" timeshares has been utter failure. It typically takes a very high percentage or total interval owner participation to "sell" the intervals to the developer. A few owners always try to hold out for a massive payday once they realize they have the power. And many owners just can't be located to get their compliance with the sale. There are many other practical obstacles as well but developers usually don't get past this initial problem.