Latest Conversion info

[winger Senior Member Find all posts View Profile Close winger]

...We went in with a price in mind we could live with and the knowledge the weeks we owned had some leverage. We came to an agreement where we assigned our PT week and kept the door open to convert the 3 deeds now in our name but invisible to DRI plus 32,500 CSV1 points. This will bring us to 84,500 in the club for $5700 when all is done.

Now if only the back office would move faster I have a lot of vacationing to do!

Awesome! Hey, to give TS4M member a better idea on cost per point, would you mind provide what the total cost you paid to get all the points? I mean, does that $5700 include the total cost (including resort transfer fees, escrow fees, county recording fees, etc) you paid for the your "CSV1 points plus a PT week and three other deeds still not visible to DRI" ?

Also, for those 84500 (WOW, what are you going to do with all that monopoly money ), what is the anticipated annual maintenance fees involved?

Congrats!

[Schooner Member Find all posts View Profile Close Schooner]

Awesome! Hey, to give TS4M member a better idea on cost per point, would you mind provide what the total cost you paid to get all the points? I mean, does that $5700 include the total cost (including resort transfer fees, escrow fees, county recording fees, etc) you paid for the your "CSV1 points plus a PT week and three other deeds still not visible to DRI" ?

Also, for those 84500 (WOW, what are you going to do with all that monopoly money ), what is the anticipated annual maintenance fees involved?

Congrats!

The $5700 is the cost of 2000 pts which was what we negotiated to convert our holdings to The Club. Our holdings were obtained at resale for various prices. Monitoring sales on eBay will provide you with a better barometer of prices than I could.

Being retired with lots of time we plan to use the points for vacations for ourselves, family and friends. Our aggregate maintenance fees will be slightly better than the current CSV1 fees of 8.03 cents per point ... I haven't done the math.

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

$2995 no hassle conversion is coming, if you can't get it from a sales center please give me the name and telephone number of the salesman who will not give you a $2995 no points conversion and I will put you in contact with someone who I believe can make it happen.

[akearsley Junior Member Find all posts View Profile Close akearsley]

$2995 no hassle conversion is coming, if you can't get it from a sales center please give me the name and telephone number of the salesman who will not give you a $2995 no points conversion and I will put you in contact with someone who I believe can make it happen.

Is it possible to get the $2995 no hassle conversion for multiple resale conversions, or are they going to require $2995 per conversion?

So if I buy 3 different weeks, will I be able to pay the $2995 just once to convert all 3 weeks or have to pay $2995 three times for each of the weeks?

[cobrien Junior Member Find all posts View Profile Close cobrien]

Converting resale into points with DRI

The great mystery of the universe still remains unsloved. I have been reading the posts and making phone calls to re-sale timeshare establishments and "corporate" in a quest to get a clear an official answer to the question of converting points. We are current owners in Lake Tahoe (bought 5500 points for $16,000. I just spoke to Willy in sales. He was very sure and matterfactly that Diamond Resorts would no longer allow conversion for the $3000 fee. He said that customers would have to buy a minimum of 4,000 points on retail in order to convert and that those points would cost $20,000. I would love to prove him wrong!!

We were looking on e-bay at a purchase of 11,000 sunoptions. The actual resort is in Florida. In corresponding with the seller, who is a resale agent, he said that since DRI took over they are no longer requiring the $3,000 conversion fee if you are a current owner. He said that they would just add the points to your existing account. He said that DRI was doing this in an attempt to resolve all the confusion with all the changes that Sunterra has been through. I called DRI to confirm. The women I spoke to said that she thought that was the case. I could sense the uncertainty in her voice and considered her opinion, just that.

I spoke to a timeshare resale agent in Lake tahoe. She said that as of two weeks ago, her clients were paying the $3,000 conversion fee and were not required to buy additional points.

Lastly, I attempted to speak to corporate. They won't be in until after the weekend. I will call back.

It is scary spending even just a few thousand dollars on the resale market and not getting what we want.

I was told that Florida timeshares have much higher maintainence fees because of all the hurricanes and bad weather. That made sense. Now if only I could get a sensible answer about point conversion.

Thanks!!

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

Is it possible to get the $2995 no hassle conversion for multiple resale conversions, or are they going to require $2995 per conversion?

So if I buy 3 different weeks, will I be able to pay the $2995 just once to convert all 3 weeks or have to pay $2995 three times for each of the weeks?

Good question, I'll look for an answer.

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

The great mystery of the universe still remains unsloved. I have been reading the posts and making phone calls to re-sale timeshare establishments and "corporate" in a quest to get a clear an official answer to the question of converting points. We are current owners in Lake Tahoe (bought 5500 points for $16,000. I just spoke to Willy in sales. He was very sure and matterfactly that Diamond Resorts would no longer allow conversion for the $3000 fee. He said that customers would have to buy a minimum of 4,000 points on retail in order to convert and that those points would cost $20,000. I would love to prove him wrong!!

We were looking on e-bay at a purchase of 11,000 sunoptions. The actual resort is in Florida. In corresponding with the seller, who is a resale agent, he said that since DRI took over they are no longer requiring the $3,000 conversion fee if you are a current owner. He said that they would just add the points to your existing account. He said that DRI was doing this in an attempt to resolve all the confusion with all the changes that Sunterra has been through. I called DRI to confirm. The women I spoke to said that she thought that was the case. I could sense the uncertainty in her voice and considered her opinion, just that.

I spoke to a timeshare resale agent in Lake tahoe. She said that as of two weeks ago, her clients were paying the $3,000 conversion fee and were not required to buy additional points.

Lastly, I attempted to speak to corporate. They won't be in until after the weekend. I will call back.

It is scary spending even just a few thousand dollars on the resale market and not getting what we want.

I was told that Florida timeshares have much higher maintainence fees because of all the hurricanes and bad weather. That made sense. Now if only I could get a sensible answer about point conversion.

Thanks!!

$2995 no hassle conversion is coming, if you can't get it from a sales center please give me the name and telephone number of the salesman who will not give you a $2995 no points conversion and I will put you in contact with someone who I believe can make it happen.

When you get tired, email me Willy's name and phone number and he may not be working there any longer. Otherwise email me and I will forward to the right place for a $2995 conversion now, if you're ready.

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

Went to an 'Owner Update' this week at Powhatan, took my Uncle with me who has been a fixed week shoulder season owner for 23 years. Had them pitch THE Club and conversion to him. Saleswoman wanted $11K for 4000 points as the minimum to convert, also offered $19K for 8000 points to get him to Elite. Uncle owns a week worth 7000 points with MFs of about 10cents/pt. I asked several times for a 0pt conversion and was finally answered that I'd have to talk to her manager. Manager indeed offered my Uncle a $2995 conversion keeping deed or a conversion to Trust with purchase of 1500pts for ~$4600. I was quite relieved that I finally got the 'right' answer but someone who didn't know to press the salesperson would not have gotten the same answer.

$2995 no hassle conversion is coming, it really is, if you can't get it from a sales center please give me the name and telephone number of the salesman who will not give you a $2995 no points conversion and I will put you in contact with someone who I believe can make it happen.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

..... In corresponding with the seller, who is a resale agent, he said that since DRI took over they are no longer requiring the $3,000 conversion fee if you are a current owner. He said that they would just add the points to your existing account. He said that DRI was doing this in an attempt to resolve all the confusion with all the changes that Sunterra has been through. I called DRI to confirm. The women I spoke to said that she thought that was the case. I could sense the uncertainty in her voice and considered her opinion, just that......

If this is true, then look out, Spence is likely to go on a spending spree! Heck, for that matter I could be looking for enough points to get me over to Gold or Platinum elite. Of course the issue for me becomes the MF's. I have neither the time nor the inclination to rent weeks out to attempt to cover MF's. Plus, I'm not sure I can effectively use that many points to my advantage.

On the other hand, since I was a current owner and did pay the $2,995 conversion fee, I could be asking for a refund of that fee if they're going to start giving membership to THE Club away for free. This could tick a LOT of Polo Towers owners off that have already coughed up the $2,995 conversion fee if everyone else gets in for $0

[dwmantz Senior Member Find all posts View Profile Close dwmantz]

*** I think you may be reading these posts INCORRECTLY! ***

I don't believe Spence is confirming zero dollar conversions. The rule is $2995 for any group of points/deeds or purchase a minimum amount of points per single deed converted (ie; buy another 2000 pts for a negotiated price and convert one deed to Club).

If you have only one deed or points package, the minimum cost to convert it would then be the purchase of 2000 points for $1500. But its going to be a challenge to negotiate with a saleman to get it that cheap.

But if you have multiple deeds and points packages, it should be fairly easy to get the $2995 rate. If you can't, email Spence and he'll get you to a person who can do it for you.

BUT THERE IS NO FREE LUNCH!

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

*** I think you may be reading these posts INCORRECTLY! ***

I don't believe Spence is confirming zero dollar conversions. The rule is $2995 for any group of points/deeds or purchase a minimum amount of points per single deed converted (ie; buy another 2000 pts for a negotiated price and convert one deed to Club).

If you have only one deed or points package, the minimum cost to convert it would then be the purchase of 2000 points for $1500. But its going to be a challenge to negotiate with a saleman to get it that cheap.

But if you have multiple deeds and points packages, it should be fairly easy to get the $2995 rate. If you can't, email Spence and he'll get you to a person who can do it for you.

BUT THERE IS NO FREE LUNCH!

It was cobrein that posted the information I quoted.

The only advantage I can see to DRI to allow units into THE Club without a fee is that availability to exchange within THE Club would instantly grow to the number of units under DRI control. It should improve availability.

For instance, I don't think DRI is doing so great at getting Polo Towers owners to pay the fee to convert to THE Club. Thus there may not be great inventory at Polo Towers, which has become DRI's poster child or "jewel". If every unit was put into THE Club, all of that inventory instantly becomes available to DRI. It will then be up to the owners to use home resort advantage to lock in their week before it becomes available to THE Club's general public.

However, I doubt DRI will see significant long term benefits by doing this and they'll be giving up short term profits of the $2,995 membership fee for each conversion. Perhaps they'd have done better if they'd have selected a lower joiner fee such as $500 per contract and make the difference up in volume.

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

I have often tried to tell Sunterra and now Diamond that what is good for the Club is good for the parent organization. More of their own resorts' inventory in the Club is good for the Club and thus good for Diamond. I think Diamond agrees and I think they are moving in the right direction. Conversion to the Club may or may not be discounted from time to time but what Diamond is trying to provide is value for your membership. That value for the member may also include profit for Diamond. Think about it, how many mattresses and televisions do they now buy with their centralized purchasing? What if they offered that buying power to their members.

[cobrien Junior Member Find all posts View Profile Close cobrien]

Points Conversion

Hey there,

Thanks for the replies. The issue I've had is this, if they are a timeshare resale establishment, they are trying to make a sell and thus; are telling half truths such as "there is no conversion fee now that Sunterra is Diamond... ." If they are a sales man and their mouth is moving, beware, they are telling half truths such as "It will cost you $20,000 for 4,000 points in order for you to convert resale points." I understand that DRI is in this to make money. I just wish they could be consistent and fair and provide exellent customer service. I am soooo skeptical about what they say and feel like this website is about the only "reliable" source for info.

We are going to a presentation in a few weeks and I will be fully loaded with questions and knowledge. We are not in a hurry to purchase more points, that is, if there is not some perk in doing so ASAP. The sales people act like if you don't buy now, you will miss the opportunity forever. Geez.

Thanks guys!

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

Hey there,

Thanks for the replies. The issue I've had is this, if they are a timeshare resale establishment, they are trying to make a sell and thus; are telling half truths such as "there is no conversion fee now that Sunterra is Diamond... ." If they are a sales man and their mouth is moving, beware, they are telling half truths such as "It will cost you $20,000 for 4,000 points in order for you to convert resale points." I understand that DRI is in this to make money. I just wish they could be consistent and fair and provide exellent customer service. I am soooo skeptical about what they say and feel like this website is about the only "reliable" source for info.

We are going to a presentation in a few weeks and I will be fully loaded with questions and knowledge. We are not in a hurry to purchase more points, that is, if there is not some perk in doing so ASAP. The sales people act like if you don't buy now, you will miss the opportunity forever. Geez.

Thanks guys!

Sunterra was a large company that was managed into the ground. When DRI took over, they had their own idea of how things should/would be run. Of course when you're trying to impliment a new system, a new way of customer service and get all the different sales offices and their managers to do business a completely different way, it's going to take time and there are going to be many bumps in the road.

I'm trying to keep an open mind but, there are things that have happened and things I see that could be happening that always make me cautious. There have been promises that there will be more owner involvement but, again, that's going to take time to both set up and see any results. I remain cautiously optimistic and believe that at this point there is more upside to DRI than downside. I'm hoping that in a few short years DRI will become what they have said they are going to be, one of the premier vacation ownership organizations in the industry.

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

We are going to a presentation in a few weeks and I will be fully loaded with questions and knowledge. We are not in a hurry to purchase more points, that is, if there is not some perk in doing so ASAP. The sales people act like if you don't buy now, you will miss the opportunity forever. Geez.

Thanks guys!

Well, how did it go?
What can you tell us?