Just bought first resale --- did I do good?

[In the Pink Senior Member Find all posts View Profile Close In the Pink]

EEK! I don't know whether to be excited or toss my cookies! This is my first resale/online purchase (only other one we got hooked by a developer). . . and I haven't told my husband yet! I really didn't think I'd get it. AND I screwed up, because this is the first time I've bid on Bidshares and I guess I didn't understand that the "maximum bid" thing doesn't work the same as in ebay. I really only wanted to bid over the opening bid (which was $50, with a $200 reserve), but because I had to leave for a funeral and wouldn't be able to watch to see what happened, I put in the $101 to cover if somebody overbid me. I was very surprised when it threw $101 up there. So it's an extra $50. It's still a really good buy.... I hope! All that I've read about not only this resort but it's sister resorts has been quite positive. That's an extra perk because I really just wanted to get into RCI points cheap.

Anyway, I got a 1 BR floating red week at a Gold Crown resort in Pigeon Forge ((Sunrise Ridge Resort) which also trades freely into 4 other Amber Vacation Club resorts as well as RCI. I needed a cheap entry into RCI points for Last Calls and Extra Vacations, a place where I would actually want to go, along with 4 sister resorts I'd also like to visit, is a real plus.

Anyway, so my bid was $101; closing costs are listed as $110 (isn't that awfully low? Does that throw up any flags?) and a $50 transfer fee. If I figured correctly, the RCI points were .0095 each. Did I do good? Do you include maintenance fees when you figure acquisition cost? And how do I join RCI?

Any criticque/advice welcome.

Thanks.
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[Spence Super Moderator Find all posts View Profile Close Spence]

You probably did fine, you're talking about pocket change. Hope that the floating red week you bought is already in points, it's not immediately apparent from what you posted as you talk of trading freely to other Amber. I'm not familiar with how it works, maybe you are, I don't see how you can trade freely if you've given whatever you've got to RCI Points. If you really want RCI, good luck, RCI = Rent your Condo Instead.

If you're worried about joining RCI then I'd venture a guess that your week hasn't been 'converted' to points.

Maintenance fees are annual or ongoing costs and are not purchase costs.

In my opiniopn you had a lot more homework to do before buying.

EEK! I don't know whether to be excited or toss my cookies! This is my first resale/online purchase (only other one we got hooked by a developer). . . and I haven't told my husband yet! I really didn't think I'd get it. AND I screwed up, because this is the first time I've bid on Bidshares and I guess I didn't understand that the "maximum bid" thing doesn't work the same as in ebay. I really only wanted to bid over the opening bid (which was $50, with a $200 reserve), but because I had to leave for a funeral and wouldn't be able to watch to see what happened, I put in the $101 to cover if somebody overbid me. I was very surprised when it threw $101 up there. So it's an extra $50. It's still a really good buy.... I hope! All that I've read about not only this resort but it's sister resorts has been quite positive. That's an extra perk because I really just wanted to get into RCI points cheap.

Anyway, I got a 1 BR floating red week at a Gold Crown resort in Pigeon Forge ((Sunrise Ridge Resort) which also trades freely into 4 other Amber Vacation Club resorts as well as RCI. I needed a cheap entry into RCI points for Last Calls and Extra Vacations, a place where I would actually want to go, along with 4 sister resorts I'd also like to visit, is a real plus.

Anyway, so my bid was $101; closing costs are listed as $110 (isn't that awfully low? Does that throw up any flags?) and a $50 transfer fee. If I figured correctly, the RCI points were .0095 each. Did I do good? Do you include maintenance fees when you figure acquisition cost? And how do I join RCI?

Any criticque/advice welcome.

Thanks.
__________________

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Sunrise Ridge Resort

AMBER Vacation Club

The AMBER Vacation Club (AVC) is comprised of and available exclusively to owners within AMBER Vacation Resorts and its affiliate resorts. Currently, these resorts are:

Sunrise Ridge Resort, Pigeon Forge, Tennessee

Casa del Mar Beach Resort, Ormond Beach, Florida

Alhambra Villas, Kissimmee, Florida

Tree Tops Resort, Gatlinburg, Tennessee

Oakmont Resort, Pigeon Forge, Tennessee


AVC allows the owner the capability of changing his home resort week into AVC points...

These points providing the owner the opportunity to exchange for a vacation stay at any of the AMBER Vacation Resorts. The resort, length of stay, time of year and size of unit are all optional, providing for one of the most flexible vacation ownership plans available anywhere. One phone call to our Club Counselor (888) 578-6747 and all arrangements are made. Outside US direct dial 865-908-4208.



Looks interestiing and it sounds as if you know what you purchased.
resales on Redweek.com start at over 1K

[Guest Close Quarterbore]

Yea, that is cheap enough that you can try it for a year or two and give it away and not lose too much. If you paid $10,000 or more for a resort resale from the developer, well then the advise would be different.

An inexpensive first purchase puts you way ahead in this game! Most people overpay the first time and they have to buy many more to average out their costs!

Welcome to the club!

[In the Pink Senior Member Find all posts View Profile Close In the Pink]

Thanks. That's fair, and very probable! Although what's pocket change is a subjective thing, this was definitely not a lot of money.

This is from the Amber Club website:

PLANNING AND SCHEDULING YOUR VACATION POINTS

The following example of ownership usage is for illustration purposes only. The "Johnson" family of two adults and two children own a one bedroom unit during week 32 at Sunrise Ridge. The following examples illustrate the vacation options open to their family. All three options begin with one toll-free call to the Amber Vacation Club (AVC) Reservation Center with the option you've selected.

If AVC is not notified of any other intent 180 days prior, your deeded week automatically converts to points. Let's look at their and your vacation options!

Option 1) Using Their Home Resort
The Johnsons decide to use their ownership during the week they own in the unit they purchased. Simply tell the AVC Counselor with a call, 365 to 180 days prior to your vacation start date.

Option 2) Exchanging Their Ownership Thru RCI
The Johnsons decide to vacation in Hawaii. First, they call the AVC Counselor with their intent to exchange through RCI. Second, they call RCI and find their exchange is easy as 1,2,3!

1. Deposit their ownership at Sunrise Ridge into the RCI SPACEBANK Pool.
2. Request their exchange in Hawaii.
3. After receiving their confirmations, subject to availability, they pack their bags and enjoy their exchange vacation.

Option 3) Converting Their Ownership To Points
The Johnsons decide to take advantage of the AVC Point System and take multiple vacations. They call AVC Reservations and convert their ownership of week 32 into the prescribed point value of 702 points. and then shows a AVC points grid.

Since the seller didn't list an RCI transfer fee, and I don't have an accessible RCI account (I have to deal through El Cid), I thought I might have to pay to open an RCI account, but it could be included.... I wasn't sure and wasn't worried about that either way.

Do you still think this has to be "converted" to RCI points? Other than that, what might I have missed?

[Spence Super Moderator Find all posts View Profile Close Spence]

AMBER Vacation Club

The AMBER Vacation Club (AVC) is comprised of and available exclusively to owners within AMBER Vacation Resorts and its affiliate resorts. Currently, these resorts are:

Sunrise Ridge Resort, Pigeon Forge, Tennessee

Casa del Mar Beach Resort, Ormond Beach, Florida

Alhambra Villas, Kissimmee, Florida

Tree Tops Resort, Gatlinburg, Tennessee

Oakmont Resort, Pigeon Forge, Tennessee


AVC allows the owner the capability of changing his home resort week into AVC points...

These points providing the owner the opportunity to exchange for a vacation stay at any of the AMBER Vacation Resorts. The resort, length of stay, time of year and size of unit are all optional, providing for one of the most flexible vacation ownership plans available anywhere. One phone call to our Club Counselor (888) 578-6747 and all arrangements are made. Outside US direct dial 865-908-4208.



Looks interestiing and it sounds as if you know what you purchased.
resales on Redweek.com start at over 1K

How can you say that, OP is talking RCI points and you're talking Amber points.

In my opinion there was a lot more homework to do before buying.

[In the Pink Senior Member Find all posts View Profile Close In the Pink]

Yea, that is cheap enough that you can try it for a year or two and give it away and not lose too much. If you paid $10,000 or more for a resort resale from the developer, well then the advise would be different.

An inexpensive first purchase puts you way ahead in this game! Most people overpay the first time and they have to buy many more to average out their costs!

Welcome to the club!

Well, thanks, but you missed the fact that I bought my FIRST from the developer.... and even worse than that, did it in Mexico!

[In the Pink Senior Member Find all posts View Profile Close In the Pink]

How can you say that, OP is talking RCI points and you're talking Amber points.

In my opinion there was a lot more homework to do before buying.

See my post above.... it's both. The RCI website does show it as RCI points.

[Guest Close Quarterbore]

Well, thanks, but you missed the fact that I bought my FIRST from the developer.... and even worse than that, did it in Mexico!

Sorry, then think about it this way, you can average your costs now



I must warn you to be careful about "cheap" timeshares... my wife thought she would surprise me with a block of SIX weeks that she picked up wholesale from the developer... They were cheap like $150/week. The problem is it was a lousy resort in the middle of nowhere and the maintenance fees were like $350/each...

We managed to get rid of them before we had to pay maintenance fees, but a cheap timeshare is not always a good thing either.

[In the Pink Senior Member Find all posts View Profile Close In the Pink]

Sorry, then think about it this way, you can average your costs now

Or rent the first one out to pay for both. This one is really more of what I should have done if I hadn't gotten reeled in. I made all the mistakes with that one.... can't even drive to it!

[In the Pink Senior Member Find all posts View Profile Close In the Pink]

I must warn you to be carful about "cheap" timeshares... my wife thought she woud surprise me with a block of SIX weeks that she picked up wholesale from the developer... They were cheap like $150/week. The problem is it was a lousy resort in the middle of nowhere and the maintance fees were like $350/each...

We managed to get rid of them before we had to pay maintance fees, but a cheap timeshare is not always a good thing either.

That's the next thing I've been afraid of, but the reviews for the resorts in this Amber Vacation Club are good, and they're current.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

How can you say that, OP is talking RCI points and you're talking Amber points.

In my opinion there was a lot more homework to do before buying.

Because OP DOES seem to know about using the Amber Points to go to the 4 sister resorts - and the reviews for these resorts do look good.

As to whether the week has been converted to RCI points, OP will need to do her homework - but the WORST that will happen is she will have to go to one of the 5 resorts in the Amber Club...which she seems to be quite happy with.

I still say it was a good purchase for what she paid and what she is ending up with.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

See my post above.... it's both. The RCI website does show it as RCI points.

What Spence eluded to was that a resorts can be a RCI Points resort but the week you purchased might NOT be in the points program.

Generally, when resorts went to points (because almost everything USED to be in weeks) RCI allowed you the privileged of converting by paying RCI $2,000-$3,000 to turn your week ownership into points.

You can be a weeks member of RCI and still have access to all their rental stuff - last call or whatever they are calling it these days.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Well, thanks, but you missed the fact that I bought my FIRST from the developer.... and even worse than that, did it in Mexico!

Where is your first ownership - name and location and season/week you own?

[In the Pink Senior Member Find all posts View Profile Close In the Pink]

Where is your first ownership - name and location and season/week you own?

El Cid Vacations Club, El Cid La Ceiba in Cozumel as home resort, floating red studio.

Thanks for your responses. I did realize after posting that the resort is RCI points that that doesn't mean the week I bought is. I am checking with the seller and I will be disappointed if it is not, but as you said, still think I made a good deal on what I got, and can also use the week in the points for deposit program in El Cid, so it's still not a bad deal either way, although what I wanted was RCI points. I'll post back when I hear from the seller.