RedWeek's own new point system!

Just discovered this. Ineresting, but I've found a couple of glitches already in valuations.

More points are allowed for a Sea Gardens in Acapulco than for a Mayan Palace. No way. They are branches of the same resort system but Mayan Palace is a step UP from Sea Gardens. Then I was looking at English resorts and saw that the 1BR cost fewer points than the Studio in the same resort. There may be a good reason for this, but I can't guess what.

Suppose this is still RedWeek's "shake-down cruise".

MD

adahiscout has observed, quoted in pertinent part:

>>... I've found a couple of glitches already in valuations. << ======================================

I don't know (or claim to know) a thing about either one of the particular facilities which you have referenced in your post, but I do wonder if the specific reservation *DATES* involved for each one might substantially impact their respective point valuations? The very same unit at the very same place will reflect different valuations with different dates. ======================================

>>Suppose this is still RedWeek's "shake-down cruise".<<

I agree. I note with interest that some folks on other timeshare discussion sites ( non-RedWeek sites) believe with some conviction that the RedWeek point valuation assigned to their submitted unit / week very closely parallels the weekly rental value (expressed in dollars) of their particular unit / week. I can't honestly say that I agree with that particular belief, just based upon a few weeks which I have submitted to RedWeek for evaluation. I believed one to be too high, most others much too low (based upon my own personal experience with previous weekly rentals (using U.S. dollars as a "currency benchmark" for comparison).

There surely are (and will be) some growing pains in the new RedWeek model, but I certainly like and sincerely applaud the "upfront" nature and complete transparency of their point / value system, at least in concept. No RCI "man behind the curtain" determining (but never actually revealing) the "internally secret" assigned "trading power" of your deposited week. No "maybe" about the prospect of an acceptable exchange being available. No "deposit, then hope".

As inventory quality and quantity improves, and point valuations evolve further, becoming more and more accurate, RedWeek's model could very well become the new industry "gold standard" in timeshare exchanging. I certainly wish them success.

I'm waiting to see how much I can sell points for. If I can get a dollar a point, I may decide I can make more money selling reservation. If I can get a dollar fifty a point I may decide to take the points and sell them instead. I have not seen any points for sale. I have a studio on Ka'anapali beach. I think I can get $1800 to $2000 dollars for a week in July. But, I can only get 1500 points.

I was amazed to see how many weeks have already been deposited in the Redweek exchange program since the program is so new and in it's infancy. I believe Redweek will become the best exchange company out there the more the word gets out.

Kudos to Redweek in their endeavor to compete with the two thousand pound gorillas (RCI and II), and I love the way you can either buy more points (for a certain resort that's been deposited) or accrue points when you don't use all you have deposited. This is a revolutionary concept.

jayjay wrote:

I was amazed to see how many weeks have already been deposited in the Redweek exchange program since the program is so new and in it's infancy. I believe Redweek will become the best exchange company out there the more the word gets out.

Kudos to Redweek in their endeavor to compete with the two thousand pound gorillas (RCI and II), and I love the way you can either buy more points (for a certain resort that's been deposited) or accrue points when you don't use all you have deposited. This is a revolutionary concept.

Yes, the idea of giving you change if you trade a better week for a weaker one is really new. Whether it is wonderful depends on which of those two weeks you own! I have been fortunate enough to come out ahead of the game sometimes with RCI. Sometimes, on the other hand......

We have Kona Timeshare: I am new to both timesharing and RedWeek.com. We are hesitating about using our Dec 1-8 week because of the airfare costs. I have been given a preliminary points offer that I think is good - but how do I know for sure?

Finding something suitable (warm weather) on the mainland in December for exchange is dicey.

Does someone have any suggestions about what to do with my week? I had considered RCI until reading posts on this forum - I am now glad to have found RedWeed.com!

I know this post is probably not very understandable. It is mostly a 'what would you do in my situation' post.

mlrplast wrote:

We have Kona Timeshare: I am new to both timesharing and RedWeek.com. We are hesitating about using our Dec 1-8 week because of the airfare costs. I have been given a preliminary points offer that I think is good - but how do I know for sure?

Finding something suitable (warm weather) on the mainland in December for exchange is dicey.

Does someone have any suggestions about what to do with my week? I had considered RCI until reading posts on this forum - I am now glad to have found RedWeed.com!

I know this post is probably not very understandable. It is mostly a 'what would you do in my situation' post.

You can deposit your Kona week on RedWeek.com and use your points at any time/anywhere that there are exchanges available on RedWeek.com. You would have up to 3 years to use your points.

Hope that helps.

Thanks, Marty

I requested a valuation in November but I let it expire. I requested another valuation in January and was very disappointed to see that the offer had dropped virtually 500 points. I could understand this if I had a low season week but this is a peak season week which would probably be exchanged very easily. This does not give much incentive to bank with Redweek

marylin1 wrote:

I requested a valuation in November but I let it expire. I requested another valuation in January and was very disappointed to see that the offer had dropped virtually 500 points. I could understand this if I had a low season week but this is a peak season week which would probably be exchanged very easily. This does not give much incentive to bank with Redweek

=========== Marylin, You are not alone

See various posts on the topic ‘Warning – Re Timeshare Exchanges’ under the Forum ‘Timeshare Exchanges’ (http://www.redweek.com/forums/messages?thread_id=10533).

RedWeek will award more points the earlier people deposit, but since RedWeek does not reduce the value for those weeks in their system, as time goes by, owners who deposit later and looking for a comparable exchange, will not have enough points.

Here’s an example I used in the other topic. I have a 2 BR unit during July in Virginia. Right now, through Interval International, I can exchange my unit for a 2 BR Marriott in Palm Desert, CA in JULY (the California desert in not exactly prime season in July). With Redweek, the Marriott unit was listed at 2300+ points (I remind you…JULY). My first valuation for my VA week was between 1500-1600 points; a few weeks later a re-valuation was between 1100-1200 points. Whether or not the Marriott week was overvalued or my week was undervalued is irrelevant; based on my potential II exchange, they should be equal.

RedWeek is afraid they will eat the week. Unless they start reducing the points of the units already in their system as quickly as they reduce the values they give owners RedWeek will be eating plenty of weeks.

mike1536 wrote:

marylin1 wrote:

I requested a valuation in November but I let it expire. I requested another valuation in January and was very disappointed to see that the offer had dropped virtually 500 points. I could understand this if I had a low season week but this is a peak season week which would probably be exchanged very easily. This does not give much incentive to bank with Redweek

=========== Marylin, You are not alone

See various posts on the topic ‘Warning – Re Timeshare Exchanges’ under the Forum ‘Timeshare Exchanges’ (http://www.redweek.com/forums/messages?thread_id=10533).

RedWeek will award more points the earlier people deposit, but since RedWeek does not reduce the value for those weeks in their system, as time goes by, owners who deposit later and looking for a comparable exchange, will not have enough points.

Here’s an example I used in the other topic. I have a 2 BR unit during July in Virginia. Right now, through Interval International, I can exchange my unit for a 2 BR Marriott in Palm Desert, CA in JULY (the California desert in not exactly prime season in July). With Redweek, the Marriott unit was listed at 2300+ points (I remind you…JULY). My first valuation for my VA week was between 1500-1600 points; a few weeks later a re-valuation was between 1100-1200 points. Whether or not the Marriott week was overvalued or my week was undervalued is irrelevant; based on my potential II exchange, they should be equal.

RedWeek is afraid they will eat the week. Unless they start reducing the points of the units already in their system as quickly as they reduce the values they give owners RedWeek will be eating plenty of weeks.

Mike,

I totally agree with you. I was initially offered 2051 points for a week in July and noticed that a week in March for the same resort was the same point value. I was offered 1538 points this week which seems very low for a Gold Crown resort in July

marylin1 wrote:

mike1536 wrote:

marylin1 wrote:

I requested a valuation in November but I let it expire. I requested another valuation in January and was very disappointed to see that the offer had dropped virtually 500 points. I could understand this if I had a low season week but this is a peak season week which would probably be exchanged very easily. This does not give much incentive to bank with Redweek

=========== Marylin, You are not alone

See various posts on the topic ‘Warning – Re Timeshare Exchanges’ under the Forum ‘Timeshare Exchanges’ (http://www.redweek.com/forums/messages?thread_id=10533).

RedWeek will award more points the earlier people deposit, but since RedWeek does not reduce the value for those weeks in their system, as time goes by, owners who deposit later and looking for a comparable exchange, will not have enough points.

Here’s an example I used in the other topic. I have a 2 BR unit during July in Virginia. Right now, through Interval International, I can exchange my unit for a 2 BR Marriott in Palm Desert, CA in JULY (the California desert in not exactly prime season in July). With Redweek, the Marriott unit was listed at 2300+ points (I remind you…JULY). My first valuation for my VA week was between 1500-1600 points; a few weeks later a re-valuation was between 1100-1200 points. Whether or not the Marriott week was overvalued or my week was undervalued is irrelevant; based on my potential II exchange, they should be equal.

RedWeek is afraid they will eat the week. Unless they start reducing the points of the units already in their system as quickly as they reduce the values they give owners RedWeek will be eating plenty of weeks.

Mike,

I totally agree with you. I was initially offered 2051 points for a week in July and noticed that a week in March for the same resort was the same point value. I was offered 1538 points this week which seems very low for a Gold Crown resort in July

=========== Redweek is afraid to eat your week, but they'll probably eat the March week because at this late date they won't give too many people 2051 point unless it is for a week in the distant future. The irony is that your deposit could've set off a string of provisional transactions and $$ for Redweek.

We have units on Kauai which we normally use every year (oceanfront KBV) and also own on the mainland..in Cabo San Lucas. The airfare is a pain for Hawaiian timeshares and often its cheaper to go to Cabo and the weather is much more reliable in the winter! Yet if you plan and put all your purchases on a Hawaiian miles card , you can go to Hawaii free every other year at least! We currently have a December week in Cabo we cant use because we were there for 2 weeks already plus a total of 4 on Kauai/Hawaii but our problem is that we have a penthouse and I think its undervalued in the point system. It rents for over $1500 per night by the resort but the Redweek system offers little more than a two bedroom in resorts in Hawaii that I have not chosen to stay at in the past. Seems like you might get a good deal for points if you own Hawaii but you need to look at where you want to explore on the mainland...less beach but maybe golf or hiking

wendywins wrote:

We have units on Kauai which we normally use every year (oceanfront KBV) and also own on the mainland..in Cabo San Lucas. The airfare is a pain for Hawaiian timeshares and often its cheaper to go to Cabo and the weather is much more reliable in the winter! Yet if you plan and put all your purchases on a Hawaiian miles card , you can go to Hawaii free every other year at least! We currently have a December week in Cabo we cant use because we were there for 2 weeks already plus a total of 4 on Kauai/Hawaii but our problem is that we have a penthouse and I think its undervalued in the point system. It rents for over $1500 per night by the resort but the Redweek system offers little more than a two bedroom in resorts in Hawaii that I have not chosen to stay at in the past. Seems like you might get a good deal for points if you own Hawaii but you need to look at where you want to explore on the mainland...less beach but maybe golf or hiking

============= When you submitted your unit for a valuation, were you able to tell RedWeek that you have a penthouse unit? If not, send them an email and informthem as such, they may be able to adjust your point value.

Yes. I did tell them. Maybe there are lots of units in Cabo..and the distinction of a penthouse (2 floors) private jacuzzi,gold crown resort...etc did not make any difference. I have rented this unit for $4,200 for a week before,which I said was considerably under the resort's rack rate...I will likely drop the price and offer it for less still rather than take the points. I see few trades that compare in value to this unit to me ...though I like the idea of getting two or three weeks for one and think the redweek point system is a good idea...just not maybe the venue to trade mine at this point. Cant decide...

wendywins wrote:

Yes. I did tell them. Maybe there are lots of units in Cabo..and the distinction of a penthouse (2 floors) private jacuzzi,gold crown resort...etc did not make any difference. I have rented this unit for $4,200 for a week before,which I said was considerably under the resort's rack rate...I will likely drop the price and offer it for less still rather than take the points. I see few trades that compare in value to this unit to me ...though I like the idea of getting two or three weeks for one and think the redweek point system is a good idea...just not maybe the venue to trade mine at this point. Cant decide...

================ I agree, I recently submitted a summer week for a valuation. The number of points they offered would not even get me a different summer week in the same area. RedWeek is getting too paranoid about “eating” weeks. I don't know how many points you were offered (2500-3000?). But I assume if RedWeek offers you 3000 points for your unit, then it would cost 3000 points for an exchange; this might be beyond the points which many people have available (or can buy). Somehow I don't think RedWeek quite understands that they make their $$$ when owners complete exchanges. If RedWeek offered you a decent number of points AND there were acceptable exchange availabilities, you may have made 2 exchanges (there's $250). Someone would've scooped up your unit (another $125) and may have had to buy some points to complete the transaction (more $$$). Your one deposit may have brought in at least $750-$1000 to Redweek. This doesn't take into account that your deposit may have initiated the completion of a chain of provisional deposits.

mike1536 wrote:

wendywins wrote:

Yes. I did tell them. Maybe there are lots of units in Cabo..and the distinction of a penthouse (2 floors) private jacuzzi,gold crown resort...etc did not make any difference. I have rented this unit for $4,200 for a week before,which I said was considerably under the resort's rack rate...I will likely drop the price and offer it for less still rather than take the points. I see few trades that compare in value to this unit to me ...though I like the idea of getting two or three weeks for one and think the redweek point system is a good idea...just not maybe the venue to trade mine at this point. Cant decide...

================ I agree, I recently submitted a summer week for a valuation. The number of points they offered would not even get me a different summer week in the same area. RedWeek is getting too paranoid about “eating” weeks. I don't know how many points you were offered (2500-3000?). But I assume if RedWeek offers you 3000 points for your unit, then it would cost 3000 points for an exchange; this might be beyond the points which many people have available (or can buy). Somehow I don't think RedWeek quite understands that they make their $$$ when owners complete exchanges. If RedWeek offered you a decent number of points AND there were acceptable exchange availabilities, you may have made 2 exchanges (there's $250). Someone would've scooped up your unit (another $125) and may have had to buy some points to complete the transaction (more $$$). Your one deposit may have brought in at least $750-$1000 to Redweek. This doesn't take into account that your deposit may have initiated the completion of a chain of provisional deposits.

=========

Wish we could sell all the exchange companies that idea! Sounds reasonable to me. MD

Am going thru changes in life so I don't think I will continue using timeshares anymore so any suggestion on what to do with 900+ points that I dont seem to be able to use? Can I rent, sell or donate these points - exp 2010. thanks

ynarpz wrote:

Am going thru changes in life so I don't think I will continue using timeshares anymore so any suggestion on what to do with 900+ points that I dont seem to be able to use? Can I rent, sell or donate these points - exp 2010. thanks

========== I don't know if Redweek has a method of transferring points between members, though it would not be difficult to set up. You should contact the support staff (use the contact redweek.com link at the bottom of the page)

At the very least you can reserve a week and rent it to another party or maybe donate it to a local charity for a raffle prize.

just discovered redweek and I've gotten a points eval for my week - the only thing is I have no idea what those points will get me in an exchange. what I want is something in nyc in mid-oct. can anyone give me an idea how many points the manhattan club or affinia go for? thanks!!

amia5 wrote:

just discovered redweek and I've gotten a points eval for my week - the only thing is I have no idea what those points will get me in an exchange. what I want is something in nyc in mid-oct. can anyone give me an idea how many points the manhattan club or affinia go for? thanks!!

So far, their are no NYC weeks deposited with Redweek but there are many provisional weeks. If there had been a deposit, you could click on Timeshare Exchange above and enter NYC to see what an evaluation (points needed) would be if one had been deposited. I have no idea how you would find an evaluation unless one had been deposited.

Perhaps marty will chime in with suggestions on how to determine NYC evaluation points or you could send an email to Redweek.