I know, but I am trying to sell my timeshare......
Hugs from France,
Joanne �ܺ
ICQ No. 5542500 Voyager
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----- Message d'origine -----
De : Garrett Wilner <[EMAIL PROTECTED]>
� : <[EMAIL PROTECTED]>
Envoy� : vendredi 5 mai 2000 05:03
Objet : Re: [SaF] Timeshares
>
> Building on Sidney's comments:
>
> Time shares... also known as "interval ownership" could possibly be better
> known as a penalty against the mathematically challenged.
>
> It can all be dressed up nicely with all kinds of sales pressure, red
> herrings, etc., but the basic message when you cut through the smoke is the
> same: you "own" a condominium-type property for about two weeks per year,
> usually in some distant place. You get charged an exorbitant price for this
> "ownership."
>
> The mathematics to consider here: take the value of a similar property
> (condominium, town-home, etc.) nearby the "time share" property that is
> available for sale. Consider the total cost of owning said property.
> Consider that when you own this property, you own it for 52 weeks of the
> year. Consider now the alternative: "time share..."
>
> Time share properties are "owned" usually only for a period of two weeks
> per year. The other 50 weeks per year, you do *not* own the property....
> someone else owns it. Maybe 25 others own "shares" of this same property,
> all at two-week intervals. (Presumably, no one owns the same two-week
> interval as someone else...)
>
> Now comes the math... let's say that your time share property has an honest
> value of $100,000 if it was to be sold on the market to one buyer... the
> whole property, to one buyer, free and clear. The time share sales crew
> will try to sell this to you for an effective price of anywhere from
> $20,000 to $50,000. Initially, $20,000 may sound like a bargain for a
> $100,000 property... and thousands of people fall for this. But, consider
> that you are only buying *two-weeks* of ownership per year... that is
> 1/26th of a whole ownership. (52 weeks in a year divided by 2 weeks
> ownership equals 26 possible owners for each time share property) (Keep in
> mind that 25 others will fall for the same scheme...)
>
> Rightfully, your "ownership" interest ought to only be worth 1/26 of the
> entire $100,000 price, which figures out to roughly $3,850.
>
> The time share company makes out better than winning the lottery: 26
> people all pay $20,000 (or more) each (plus exorbitant interest rate
> charges and other "junk fees") for this one property (that has a market
> value of $100,000). In effect, the company makes over a half-million on
> each unit sold (26 people pay $20,000 each... equals $520,000... for a
> property worth only $100,000... then add in all the "junk fees," management
> fees, and financing costs, etc.) (Not a bad deal for the company...)
>
> The smoke and mirrors approach makes this whole scenario sound like a "good
> deal," especially when you consider that you can "trade" your time share
> for another one in Paris... or London... or (fill in the blank). Once you
> "own" your two week slot in your time share, you can barter it with others
> who have fallen for similar deals elsewhere. (Kind of a lonely hearts
> club...) Many, many other tricks and gimmicks can be employed by the
> timeshare company to obscure the fact that you've just overpaid for this
> property by a huge factor... perhaps a factor of five (on the very, very
> optimistic side) to a more realistic factor of ten, twenty, or thirty.
> (Whatever they can get out of you...)
>
> Each timeshare deal will be different, of course, but the basic math
> remains: you pay way, way, way too much for way, way, way too little. All
> the rest of it is just smoke and slick salesmanship at best... and complete
> dishonesty at worst.
>
> No wonder the timeshare companies can afford mass mailings, telemarketers
> (by the hundreds), and cheap television sets (for sitting through the sales
> pitch). It's all a numbers game... and all the numbers are in their favor.
> You can *never* win at this game... never!
>
> Best of luck in your quest... maybe investing your money in yearly
> vacations would be a better placement of your funds?
>
> Garrett
>
>
> At 05:53 PM 5/4/00 -0700, you wrote:
> >At 12:31 AM 5/5/00 +0000, you wrote:
> >>I would like to check a Spanish co. trying to sell me timeshare and
> >>wondered if there is a website somewhere I could check it up ? I have a
> >>vat no. for this co. and want to know if they are a viable co.
> >>
> >>Joanne
> >
> >Regardless of VAT no., virtually all Timeshare deals are
> >inherently "dodgy" - proving to be at best disappointing
> >and all too often even dishonest.
> >- Sidney.
>
