Diamond Resorts "update"

[DRIless]

Finally was treated with a little respect and dignity at a DRI update I went to in exchange for two seats at a private Diamond Experience of a Lifetime concert with Lauren Alaina. Only about 300+ people at the Virginia Military Aviation Museum.

I sat through the whole update and it was supposedly the first time they'd made me an offer since the year 2000. Points supposedly sell for $9.15/point and they repeated the year 2000 offer of 25,000 points at $3.00/point. I guess I should have asked how many resale contracts could I bring in with that? Anyone got a spare $75K.....

 

[pedro47]

Wow!!!!!!!!!!!

 

[nuwermj]

... they repeated the year 2000 offer of 25,000 points at $3.00/point.

A good price, but not a deal. $3 per point when buying 25,000 is a normal price. I've seen reports slightly higher and slightly lower when the purchase is large. Diamond's cost of the points is close to zero, so they are more interested in the size of the transaction than the price per point. The average transaction is about $22,000, so a $75k will pull up that key metric.

I guess I should have asked how many resale contracts could I bring in with that?

You could have re-qualified 50,000 resale points. The rule is: buy 50% of what you want to re-qualify.

 

[awa]

They told me that 20k resale was the maximum that each member could bring into the Club, but I'm also sure the rules change depending on who you ask.

 

[DRIless]

Diamond's cost of the points is close to zero.

How do you figure that?

 

[nuwermj]

Diamond's cost of the points is close to zero,

How do you figure that?

Diamond's financial reports filed with the Securities and Exchange Commission. Diamond reports their "cost of sales" (which is the acquisition cost of the points) is 20 cents per point.

 

[chemteach]

I was recently able to bring in over 25,000 resale points with a small point purchase for under $10,000. I would have been happy to leave my weeks as weeks because I use Destination Exchange, and you can actually get better value with deeded weeks than with points. They gave me the whole, "You have to buy 1/2 your amount of points to bring in a resale deed." I said I wasn't interested in purchasing any more points, but would be happy to spend a few thousand dollars to bring in my resale weeks. They said they would see what they could do. They came back with an offer that I was happy with. It never hurts to ask... It was one of the most pleasant experiences I have had with Diamond.