New to Sunterra - Buyer's Remorse!

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

Eye opener

The only remorse you should have is that you paid too much, you can still fix that. Weekends are an expensive way to use Sunterra points at 3x the cost of other nights!!

Spence's comment seemed odd at first. Then I read through the details of my (rescinded) contract. I found the following language:

Nightly mid-week (Sunday-Thursday) values are 10% of the weekly value. Weekend values (Friday and Saturday nights) are three times the corresponding nightly mid-week value.

Our salesman seemed to coincidentally overlook our ignorence of this fact when we were figuring out how many points we would be using for weekend trips to Orlando. We were led to believe we'd use 800 points for a two-night weekend at a 4000/week resort, when in fact, we'd use 2400!

Considering we were planning to use our points for two 2-night weekends and two 3-night (Thur-Sun) getaways to Orlando each year, we'd need to have 10400 points - more than double what we bought - to do this without relying upon any discounts. I'd say it's looking even better that we rescinded!

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

I researched closed Sunterra auctions on eBay. Here's what I found for the last few weeks:
14 closed auctions
Blocks of points for resell ranged from 2500 to 18000
Winning bid ranged from $250 to $4259.99
Lowest price/point = $.100
Highest price/point = $.312
Overall average price/point = $.233
Average price/point, omitting the three highest and three lowest = $.243
(Retail price/point offered, accepted and rescinded = $3.08)
I'm guessing at least one of these winning bids was made by someone here on TS4MS.

I'm guessing you didn't roll all closing costs into the price/pt. 10¢/pt seems kinda low, 3.2¢/$ is a great price though.

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

Originally Posted by Spence
The only remorse you should have is that you paid too much, you can still fix that. Weekends are an expensive way to use Sunterra points at 3x the cost of other nights!!

Spence's comment seemed odd at first. Then I read through the details of my (rescinded) contract. I found the following language:

Nightly mid-week (Sunday-Thursday) values are 10% of the weekly value. Weekend values (Friday and Saturday nights) are three times the corresponding nightly mid-week value.

Our salesman seemed to coincidentally overlook our ignorence of this fact when we were figuring out how many points we would be using for weekend trips to Orlando. We were led to believe we'd use 800 points for a two-night weekend at a 4000/week resort, when in fact, we'd use 2400! Considering we were planning to use our points for two 2-night weekends and two 3-night (Thur-Sun) getaways to Orlando each year, we'd need to have 10400 points - more than double what we bought - to do this without relying upon any discounts. I'd say it's looking even better that we rescinded!

This fact can also easily be gleaned by anyone who looks in the SunOptions Directory.

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

I researched closed Sunterra auctions on eBay. Here's what I found for the last few weeks:
14 closed auctions
Blocks of points for resell ranged from 2500 to 18000
Winning bid ranged from $250 to $4259.99
Lowest price/point = $.100
Highest price/point = $.312
Overall average price/point = $.233
Average price/point, omitting the three highest and three lowest = $.243
(Retail price/point offered, accepted and rescinded = $3.08)
I'm guessing at least one of these winning bids was made by someone here on TS4MS.

You missed the deeded Sunterra property that sold recently for 7¢/pt and I missed the one that sold recently for 4¢/pt (a property worth 11,000 SunOptions that sold for $1+CC; the word Sunterra was nowhere in title or description)!

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

I'm guessing you didn't roll all closing costs into the price/pt. 10¢/pt seems kinda low, 3.2¢/$ is a great price though.

You're correct; I did NOT include any closing costs in my analysis. Shame on me.

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

This fact can also easily be gleaned by anyone who looks in the SunOptions Directory.

This just goes to show you that it's very easy to miss the finer details in a TS presentation. What seemed reasonable in the sales office turns out to be anything but when you get home, take time to read everything more closely and find out exactly what you bought.

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

You missed the deeded Sunterra property that sold recently for 7¢/pt and I missed the one that sold recently for 4¢/pt (a property worth 11,000 SunOptions that sold for $1+CC; the word Sunterra was nowhere in title or description)!

I ignored all deeded properties from my analysis, as I was comparing CSV resell points to CSV retail points.

That does not mean I will ignore deeded properties in the future, however. Owning a deed seems more concrete than "The Trust."

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

You're correct; I did NOT include any closing costs in my analysis. Shame on me.

When CC are about the same as bid price, that doubles the price/pt and that is the case for many of the smaller points packages.

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

I ignored all deeded properties from my analysis, as I was comparing CSV resell points to CSV retail points.
That does not mean I will ignore deeded properties in the future, however. Owning a deed seems more concrete than "The Trust."

OK, did you catch the one that sold 22Apr for $529.99 total for 11,000 SunOptions?

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

I researched closed Sunterra auctions on eBay. Here's what I found for the last few weeks:
14 closed auctions
Blocks of points for resell ranged from 2500 to 18000
Winning bid ranged from $250 to $4259.99
Lowest price/point = $.100
Highest price/point = $.312
Overall average price/point = $.233
Average price/point, omitting the three highest and three lowest = $.243
(Retail price/point offered, accepted and rescinded = $3.08)
I'm guessing at least one of these winning bids was made by someone here on TS4MS.

And based on your extensive research, how much you want to bet that all the bids on this auction are shills?
CLUB SUNTERRA DEED w/ 5500 POINTS ** MUST SELL **
Item number:180107518166

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

When CC are about the same as bid price, that doubles the price/pt and that is the case for many of the smaller points packages.

Good point. I will redo my analysis. Do you know what the typical CCs are when converting points into CSV?

OK, did you catch the one that sold 22Apr for $529.99 total for 11,000 SunOptions?

No. What search term(s) did you use to find it?

And based on your extensive research, how much you want to bet that all the bids on this auction are shills?
CLUB SUNTERRA DEED w/ 5500 POINTS ** MUST SELL **
Item number:180107518166

I'm not taking that bet. How often do you see this sort of thing?

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

Good point. I will redo my analysis. Do you know what the typical CCs are when converting points into CSV?
No. What search term(s) did you use to find it?
I'm not taking that bet. How often do you see this sort of thing?

Amazingly enough, I don't think Sunterra charges anything for the transfer of the CSV-1 Contracts. So it's only the approx $300-$500 charged by the scalping eBay seller who is in bed with some closing company.

It was only 10,000 SunOptions, my mistake
SUNTERRA WORLDWIDE RESORTS - INCL. SEDONAItem number:260110218439
A 'Make an Offer' auction with a BIN of $12499.00 and an offer of $1249.90 but the current MFs are included which brings the actual price down. No CC.