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Platinum vs Gold - Still Confused or Do I have it right?

Discussion in 'Hilton Grand Vacations Club / HGVC' started by theslice, Jul 10, 2019.

  1. theslice

    theslice Guest

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    OK, I have read and read and I am either confused or correct or a mix of both.

    I started out thinking because of kids in school and when we want to travel, and for resale (if we get to that stage) we would want platinum.

    But I have been considering other options based on the following, so please correct me if I get this wrong.
    1. Points are color blind. Small legal type says unless you are talking about your home week where you need to book the season of your points, for a week, in the same unit size.
    2. As long as I have enough points I can book in the open season (9 month window) for any season for any size as long as I have enough points to satisfy what that resort requires for that season/unit size for the dates of my travel.
    3. Points per MF is king, think about the lowest cost per point.
    So testing this if I were to bundle multiple gold re-sales together it doesn't really matter gold vs platinum if I get a good point/MF ratio and home week is not something I would use.

    Another way to say it if I bundle two or more gold deeds together and the points/MF is better than a single platinum deed it is better to go with the multiple deeds.

    Are there other fees I need to think about if I own 2 deeds?
     
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  2. Remy

    Remy TUG Member

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    Can you give an example of where you are seeing 2 golds as better than 1 platinum? I'm not sure I follow.
     
  3. terces

    terces TUG Member

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    I believe you are correct although I never considered owning Gold. I found the Platinum 2 bedroom 7000 point unit at the Boulevard to be the best ratio among the HGVC developed and owned resorts, and that is where I bought. The maintenance fees for that exact unit are now $878.10 including taxes. I believe the only fees for ownership are the Club Fees which are around $170 per year which is a one time annual fee regardless of how many units you own. I am in the process of closing on one of these units and my total purchase transaction fees are $2,130. You could expect to pay this for each unit you bought, although it can vary from one brokerage service to another but it is a good number to use for a budget. The other ongoing fees you will pay are a booking fee of around $80 per reservation and an unnecessary cancellation insurance fee of around $80.
     
  4. brp

    brp TUG Member

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    First, as noted, two golds will never be better than platinum (as far as I cna tell) for a given room size. More points for platinum, same MF. So 2 weeks will have twice the MF but not twice the points.

    Second, just a terminology thing: the "9 month window" is Club Season (as opposed to Open Season). And the reason to point this out is that there is an Open Season which is very differet,

    Cheers.
     
  5. Helaine

    Helaine TUG Member

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    The MF for a platinum, gold or silver 2 BR are the same - it's the number of points you get that are different. So you pay the same MF for platinum and get 7000 points or gold and get 5000 points - so the cheapest maintenance fee per point for a given size is always platinum in the same resort.
     
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  6. Remy

    Remy TUG Member

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    I wasn't reading between the lines. The gold has a lower initial buy in so it's tempting to look at 2x 5,000 points instead of a single 7k or more. Remember to take into consideration the initial cost of buying the week, the season, the room size, the points, the maintenance fees, the resort itself and its rules, and how you'd use the points if you had them.

    You might find it is worth dropping $14k to get 9,600 points a year with a $1,000 MF at a HGVC owned resort instead of paying for two weeks at $5k for 10,000 points a year with $2,400 in MF where you're making calls to turn your weeks into points every year and have to prepay MF to borrow from future years.

    There's a lot going on when you buy in a system like this. Heck, you can trade into II if you buy the right location.
     
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  7. GT75

    GT75 Moderator

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    Except for the terminology (Club booking at 9 months vs. open season which is booking at < 30 days using cash), I think that you understand.

    You will pay two set of activation/deed transfer fees, but these will be one time fees. For yearly fees, of course you will have two set of MFs but only 1 club dues.
     
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  8. Mr Smith

    Mr Smith TUG Member

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    I agree with Remy, the single platinum unit is a better deal.

    Short term the investment is cheaper but you have to consider all the fees as well over time.

    2 gold units mean you would pay 2 closing costs. You get hit with another $1k making the initial buy in (15-7) an $8k difference. If you only keep the unit 5 years you are going to pay an additional (5x1,400) $7k in maintenance fees with the gold, only staying $1k ahead. Assuming you would sell the unit/s, the platinum will still hold more value as you may get that $8k additional back from the platinum unit, putting the platinum $7k ahead.

    If you plan to keep the unit 20+ years you would end up paying (20x1,400) $28,000 in additional maintenance fees with the 2 gold units.

    Every way I try and break it down the platinum always wins. The only way I can think the gold would win is if you had to finance the purchase but I’m still not sure you would be paying less than $1,400 in finance fees per year unless the interest rate is 20%.

    If you are a good investor you would have to get that $8k initial buy in savings to produce more than $20k over a 20 year span.

    I could be missing something so please double check my numbers.
     
    Last edited: Jul 11, 2019
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  9. RX8

    RX8 TUG Member

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    You are spot on with the exception of this paragraph. Platinum will always be a better Points/MF ratio than gold because you will always get more points with platinum. You mention 5000 points - Gold 5000 points pays the same maintenance fee as Platinum 7000 points so a worse points to MF ratio. Buying another gold gets you more points but you also double your maintenance fee, something I think you aren’t realizing in your analysis.

    Using a rough example in dollars, three 5000 Gold’s will get you 15,000 points and $3600 in MF ($1200 X 3) or .24 per point. A 7000 Platinum has the same MF as one 5000 Gold at $1200 MF or .17 per point.

    As mentioned by others above, there are many who take the initial purchase price into their analysis and may find it a good deal to pay the higher point per MF because they can get into multiple Golds with a much cheaper buy-in than buying a big point Platinum. That upfront savings helps “pay” for the higher MF but at some point those “savings” will be gone and then you are just paying more in MF.
     
    Last edited: Jul 11, 2019
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  10. brp

    brp TUG Member

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    Definitely a bunch of answers primarily repeating the prior answers. Seems we all agree :)

    Cheers.
     
  11. dayooper

    dayooper TUG Member

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    I will add this on. I know it’s not directly asked, but I believe the divesting of a timeshare needs to be taken into account. If bought correctly, it’s much easier to sell or even give away a platinum unit. Life happens and if you have to get rid of your TS, a platinum 2 bedroom will be easier than it’s gold counterpart. There are exceptions, but generally speaking, that platinum unit is much easier to get rid of.
     
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  12. brp

    brp TUG Member

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    Among the very-well-versed, yes. But I wold argue that there are plenty of people who, even knowing of the advantages of resale, will look at the lower buy-in of the Gold week as a good deal and buy it (this said by the guy who, in fact, owns two 5000 point Gold weeks in Vegas instead of the one Platinum week :))

    Cheers.
     
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  13. dayooper

    dayooper TUG Member

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    I actually think that a gold 2 bedroom at The Boulevard is one of the few gold units I would purchase. The MF per point ratio is roughly $0.17 which is better than the platinum units in many places. The Place is great and it seems that everyone wants a piece of those low MF’s. Some of the 1 bedroom grands and grand pluses at Elara is another of the gold units that seem worthwhile to purchase.
     
  14. Sandy VDH

    Sandy VDH TUG Review Crew: Elite TUG Member

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    Agree with the above that Platinum is a better long term purchase.

    You can do whatever you would like however, and buy 2 gold weeks if that is what you want to do.
     
  15. Sandy VDH

    Sandy VDH TUG Review Crew: Elite TUG Member

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    So wouldn't a platinum unit at Boulevard be even better MF / Pt? Or course it would.

    At Elara you need to buy the highest unit type in the category, as a similar room sizes have the same MFs but obviously not the same point allotment, 1 BR Grand Plus as @dayooper says is a good choice.

    Ultimately you buy what you find and when you need it. It may take a while to actually find those harder to find sweet spots within the HGVC system.
     
  16. theslice

    theslice Guest

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    Yes, screwed up the terminology.
     
  17. theslice

    theslice Guest

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    It probably doesn't help that I was working off a unicorn example. Getting better at this, now just need to do the hunting for the correct sale.
     
  18. dayooper

    dayooper TUG Member

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    Obviously, it would be. I’m not saying that I suggest buying a gold over platinum. My point was that the gold 2 bedroom at the Strip would be one of the only gold units I would look at. The price is still way less than many platinum units with just as good or better MF ratios.
     
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  19. Tamaradarann

    Tamaradarann TUG Review Crew: Veteran TUG Member

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    I believe that the Bold statement above is the key to this argument. If one is only planning on keeping the timeshare for a few years a Gold could be a better purchase. It gets you into the system and some nice vacations at a low buy in price. If you are planning to keep the timeshare for an extended period, perhaps forever, the Platinum is the better purchase.
     
  20. Vee Ts

    Vee Ts Guest

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    So in this example:
    - 4,800 pts. which is 1 Bedroom in Platinum
    - 5,000 pts. which is 2 Bedroom in Gold

    The 4,800 pts. would have a lower point/MF ratio and therefore is a better buy even if the initial investment is lower?
     
  21. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    Yes. What I've suggested in the past is taking the cost if acquisition (price + CC) and adding 15/20/25 years of MF's to get a total cost of ownership.
     
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