benbakdoff
benbakdoff
Joined: Jul 13, 2010
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August 24th, 2010 at 4:12:16 AM permalink
We've all seen their booths, we've all tried to avoid them, and we've all been accosted by them. There's not much difference between the porn slappers and the hawkers of Tahiti Village except that the hawkers wore flowered shirts, were allowed into some hotels and actually spoke to you. Where ya from?...Where ya stayin?... How long ya here for?



Now they're gone and I was wondering what the status of the property is. I know it's still there because I've driven by it and jogged by it recently. I've heard of the bankruptcy issues but what is the real story? Will people lose their money?
FleaStiff
FleaStiff
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August 24th, 2010 at 5:15:01 AM permalink
Quote: benbakdoff

Now they're gone and I was wondering what the status of the property is. I've heard of the bankruptcy issues but what is the real story? Will people lose their money?


You can believe the promises that are still being made from time to time but the REAL story is available on Ebay. A unit sold at 55,000 a few years ago is now being offered at 287.00 and has no bids whatsoever.
Timeshares, particularly overhyped ones, are always money losers.
Wizard
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Wizard
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August 24th, 2010 at 10:02:34 AM permalink
Timeshares are such a scam, in my opinion. What you can resell them for is a fraction of the price you would pay directly from the salesman who gave you the two free show tickets to sit through the pitch. Some you can't give away for free.

About Tahiti Village, I think its fate will end up in a bankruptcy court auction. For the individual unit owners, I wouldn't worry about finding a lock on the gate. Lots of American companies operate just fine in bankruptcy. It is the American way of doing business all too much of the time.
It's not whether you win or lose; it's whether or not you had a good bet.
EvenBob
EvenBob
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August 24th, 2010 at 11:06:42 AM permalink
But the gorgeous Tanya Roberts was their spokesperson. She would never give us bad advice.
"It's not enough to succeed, your friends must fail." Gore Vidal
Nareed
Nareed
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August 26th, 2010 at 7:25:29 AM permalink
Nareed's Universal Law of time share salesmen and telemarketers: Keep saying "no" until they go away. Note: hanging up the phone is equivalent to saying no.
Donald Trump is a fucking criminal
Mosca
Mosca
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August 26th, 2010 at 8:51:00 AM permalink
Quote: Wizard

Timeshares are such a scam, in my opinion. What you can resell them for is a fraction of the price you would pay directly from the salesman who gave you the two free show tickets to sit through the pitch. Some you can't give away for free.

About Tahiti Village, I think its fate will end up in a bankruptcy court auction. For the individual unit owners, I wouldn't worry about finding a lock on the gate. Lots of American companies operate just fine in bankruptcy. It is the American way of doing business all too much of the time.




Ah, but Mr Wizard... for every seller, there is also a buyer. You can also buy them on the secondary market for a fraction of their original price. Plus, you get to pick what you want, without anyone putting the big sell to you.

The thing to pay attention to is maintenance fees. If the fee schedule is reasonable, and the place is nice, and you can pick it up for a couple hundred or so, then a time share condo or apartment can be a pretty good deal.

And sometimes it makes sense to buy for the trading power. A few years ago, US buyers were picking up South African timeshare units at low prices and with low maintenance fees and trading them through RCI with European owners; the SA units had top drawing power, you could trade into Waikoloa or Disney's Boardwalk with one of those.

I bought cheap in the Poconos and I've traded into Orlando a few times; you can't pull Hilton Waikoloa (on Hawaii's BI) or Disney's Boardwalk with Split Rock, but you can get Vistana or Westgate. It's like any system, you can work it. If you get into it without any knowledge, well, yeah; you lose. Or, better said, you overpay... but the resort itself is still pretty freaking nice usually.
NO KILL I
teddys
teddys
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August 26th, 2010 at 9:17:27 AM permalink
What's RCI?
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
FleaStiff
FleaStiff
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August 26th, 2010 at 12:05:51 PM permalink
Some of those things have been picked up in the secondary market for One Dollar.

Tahiti Village: Who knows what will happen but its likely that a few of those buyers will find that the free gift for attending the lecture was one of the most expensive items they've ever endured.
DJTeddyBear
DJTeddyBear
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August 26th, 2010 at 1:17:17 PM permalink
Quote: teddys

What's RCI?

A company that manages the usage and trading of timeshare time - one of the biggest, I believe.

When you buy a timeshare, you essentially buy a suite at a specific hotel/condo for a specific duration each year. The only variables are what date you want to check in, and the actual room number each visit.

The 'big sell / big draw' to time shares is that you can trade your week, and go to any other location managed by the same company.

The CATCH is this: If the timeshare you buy is in some undesirable destination, you can't easily trade it for a desirable destination except for some really off-season time, and then only if you get lucky. However, if you initally spend more, and buy a desirable destination, you pretty much can trade it for any destination during any season.


About 7 years ago, the wife and I were in Myrtle Beach SC when the 'body-snatchers' got us. We went and toured the place. It seemed like a nice version of dumpy. Plus, Myrtle Beach is a desirable Atlantic Ocean resort city. This timeshare was about 15 miles inland. All I could think as we took the tour is, who would want to come here?
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁 Note that the same could be said for Religion. I.E. Religion is nothing more than organized superstition. 🤗
Wizard
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Wizard
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August 26th, 2010 at 4:12:47 PM permalink
Quote: Mosca

Ah, but Mr Wizard... for every seller, there is also a buyer...



I don't disagree with anything you said. What I meant was buying timeshares at the full retail price is a scam. I've done those pitches three times, and they throw all kinds of math tricks at you. Meanwhile, I keep hearing stories about people who can't give away their timeshares for free.
It's not whether you win or lose; it's whether or not you had a good bet.

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