Resale buy backs, prices and discrimination?

I have been shopping for a MC unit for sometime now. I want the 1 bed,2 bath with a lock on Xmas week every other year if I book a year or so out. It seems a week every year runs about $15K to 18K on redweek. A week every other year runs about 8 to 10K.

MC tells me they are the only ones who can give me a guarantee of Xmas week every other year, but their price is $19K for that or the equivalent of about $38K if I were to buy a week a year. They claim if I try to buy a week a year at $15 to 20K they will exercise their right of first refusal and buy it out from under me. Failing that, they say they will know I have bought on the secondary market (by three zeros they add to the membership number) and give me a lower priority in booking when I call to reserve a room, even if I do it a year out.

I have seen the trouble and frustration on this site about MC bookings by members and wonder if I can believe anything I hear from them at this point. I am interested in any input any of you might have. thanks

If You buy a fix Xmas week at MC than thats what you get, every xmas period,or EOY, MC is a deded timeshare, whats on the deed and contract is what you get, I have bought Resale and also from MC Never a problem I have 3 fix News years week Resale and request the rooms I want and gets them 80% of the time, yes they do add 2/ 00 infront of my contract # But never had a problem getting what I want, in the last 4 yrs I Love the MC and its Staff other than Sales, but even there I have friends

I'm new to redweek and just read your post about the mc,they actually told you they would put you on the back of the line if u bought aftermarket? I see you posted this over a year ago, any changes with since with them , and have you bought yet -I might be able to help.

Sincerely, Scott-954 588 9440

I finally negotiated a bit with MC and bought a week every other year from them at a price in the mid teens of thousands. I am pretty sure I paid too much, but in the end, I decided I did not want the nightmare of being discriminated against because I owned a resale.

All of that said, I remain curious, as I am sure others on Redweek are, about what MCs resale control practices really are. Judging by the asking prices on Redweek, either they are buying a lot of shares back under their right of 1st refusal at the last minute, or they are selling new shares directly from MC at a 100% mark up over the resale market.

There is no driffence between resale and direct buy from TMC other than the price, you were con by the sales rep. I own both Resale and direct buy, when I make a reservation I request the room I want and once I get there at checkin I get it and its the same with any of my weeks, resale or otherwise They cant discriminate, all owners has the same rights,regardles of how they get there ownership Howard

I have owned at Manhattan Club for four years now and am now in a position of not being able to afford the monster maintenance fees. We were new to timeshares when we bought and were told in 2005 that "in the very near future" all units would be sold out and, after that time, the developer could no longer exercise the right of first refusal on any resales we might want to do. The way I understand it now, if you get an offer from someone privately (e.g., on Redweek), you have to present it in writing to the MC peeps and they then have the right to offer you the same price. Basically, they can edge out any other buyer by doing this unless you get lucky and find someone who will pay well for the unit.

Here's my own math on things: the "maintenance fee" that one pays at ANY timeshare is a forever thing. You may "own" a week there, but, over and above this, you will always pay a hefty maintenance fee (mine is nearly $1700/year at TMC). I don't know about most people, but I have NEVER paid anywhere near $1700 a year for a week's accommodations. Therefore, after four years of getting sucked dry and feeling a bit silly for falling for the sales pitch and the allure of New York City, I have to get OUT and probably take quite a loss. My question is this: how can there be such a huge discrepancy in the prices I am seeing now on Redweek for TMC resales? I have a studio/1 bathroom unit and paid a whopping $27,000 for it in 2005. I'm told they now go for over $30,000. Add on the maintenance fees, and it is a wealthy person's paradise. If, as you say, TMC is reselling these units at all these different prices, you do have to wonder what they bought them for. Look forward to hearing from others about their experiences.

I have a New Year's Eve package every odd year 3 nights and 40K points with rci on even years. What is that worth now and MC

Hi There, Did you ever buy that time share at the Manhatan Club?

Crazy isnt it... Since July 2010 40 sales took place...4 of them for 10k to 20k the other 35+ went for like $200

OMG! I have been thinking similar midtown hotels rooms to my 1 bed, 2 bath MC unit go for upwards of $400./night during Xmas time. So I have been thinking $300./night maintenance fees means I get my place at a $700./week discount as consideration for my initial purchase cost. If you are correct that these units are actually changing hands for a few hundred dollars, every MC member is completely screwed! Can you say where you got your sales price info?

MC owners opened a lawsuite / class action in regards to the MC resrvations. Everyone who is inerested to join the class action please contact me at alexcrystal22@gmail.com or corspeak77@yahoo.com

You will be asked to fill out the Survey and send it or email the lawyer's office. It is urgent!

Regards, Alex

Nothing they tell you is true. You will not be happy as an owner. See all the complaints from owners. The MC has gone downhill since we purchased and we have not been able to use of time every year that we did trade. BEWARE!

alexc100 wrote:

MC owners opened a lawsuite / class action in regards to the MC . Everyone who is inerested to join the class action please contact me at alexcrystal22@gmail.com or corspeak77@yahoo.com

You will be asked to fill out the Survey and send it or email the lawyer's office. It is urgent!

Regards, Alex

I'd like to know more about the lawsuit. I'm really looking to sell it. Dena

I am interested in this. Please let me know what it's about. Suny

denal11 wrote:

alexc100 wrote:

MC owners opened a lawsuite / class action in regards to the MC . Everyone who is inerested to join the class action please contact me at alexcrystal22@gmail.com or corspeak77@yahoo.com

You will be asked to fill out the Survey and send it or email the lawyer's office. It is urgent!

Regards, Alex

I'd like to know more about the lawsuit. I'm really looking to sell it. Dena

I am in the same position. I bought what they call a split week. One year I get 3 nights, the next year I get 4 nights. I paid 19k for that. They did tell me if I sell, I need to find a buyer, but they get 1st right to buy it back once I find a buyer. I don't know if they can give you less opportunity if you buy on the secondary market. I'm selling mine, so if you want to make me an offer, I will listen.

Have you ever managed to resell your timeshare at a reasonable market price. Manhatten club tell us they do not buy back timeshare and given the prices as listed on redweek, we will loose thousands of dollars to what we paid. Any assistance in resales would be greatly appreciated.

cyndia2 wrote:

I have owned at Manhattan Club for four years now and am now in a position of not being able to afford the monster maintenance fees. We were new to timeshares when we bought and were told in 2005 that "in the very near future" all units would be sold out and, after that time, the developer could no longer exercise the right of first refusal on any resales we might want to do. The way I understand it now, if you get an offer from someone privately (e.g., on Redweek), you have to present it in writing to the MC peeps and they then have the right to offer you the same price. Basically, they can edge out any other buyer by doing this unless you get lucky and find someone who will pay well for the unit.

Here's my own math on things: the "maintenance fee" that one pays at ANY timeshare is a forever thing. You may "own" a week there, but, over and above this, you will always pay a hefty maintenance fee (mine is nearly $1700/year at TMC). I don't know about most people, but I have NEVER paid anywhere near $1700 a year for a week's accommodations. Therefore, after four years of getting sucked dry and feeling a bit silly for falling for the sales pitch and the allure of New York City, I have to get OUT and probably take quite a loss. My question is this: how can there be such a huge discrepancy in the prices I am seeing now on Redweek for TMC resales? I have a studio/1 bathroom unit and paid a whopping $27,000 for it in 2005. I'm told they now go for over $30,000. Add on the maintenance fees, and it is a wealthy person's paradise. If, as you say, TMC is reselling these units at all these different prices, you do have to wonder what they bought them for. Look forward to hearing from others about their experiences.

I have two every other weeks at the Manhattan Club. (odd and even) Probably not good for christmas week, but we have never had a problem booking my weeks if I book one year in advance to the day. One bath junior suite. We have gotten rooms with wonderful views. I have found people in reservations to be very helpful.

Jo Ann

don4 wrote:

I have been shopping for a MC unit for sometime now. I want the 1 bed,2 bath with a lock on Xmas week every other year if I book a year or so out. It seems a week every year runs about $15K to 18K on redweek. A week every other year runs about 8 to 10K.

MC tells me they are the only ones who can give me a guarantee of Xmas week every other year, but their price is $19K for that or the equivalent of about $38K if I were to buy a week a year. They claim if I try to buy a week a year at $15 to 20K they will exercise their right of first refusal and buy it out from under me. Failing that, they say they will know I have bought on the secondary market (by three zeros they add to the membership number) and give me a lower priority in booking when I call to reserve a room, even if I do it a year out.

I have seen the trouble and frustration on this site about MC bookings by members and wonder if I can believe anything I hear from them at this point. I am interested in any input any of you might have. thanks

Hi don 4, You will not be discriminated, as far a booking the time or rooms you wish, because of purchase through resale. That noted, some people simple wait until last minute and then complain rooms are already taken. Some high demand seasons (the holidays) have to be pre-planed and Courtesy also goes a long way. I own multiple weeks. They were all upgraded to the penthouse awhile ago and I NEVER have a problem with reservations. LIN

Don 4, ps....I did not capitalize, "fixed income". That must've been redweeks' program. lol's (welcome to the tech. age). LIN