Last week I wrote about our encounter with a timeshare sales pitch from Diamond Resorts International (DRI) in beautiful Lake Tahoe (see below). Here’s the bottom line: The offer price for the timeshare was, effectively, between $420 to $642 per night. I rented the unit for $85 per night from a broker. Fairness Doctrine Caveat: Clearly there are ways to cut this price. First, I suspect that if I had managed to avoid gasping audibly at the price and been able instead to say something like, “Gee, I’d love to buy, but I’m thinking about Marriott instead,” the price would have come down. I’m not that good an actor. Second, there are angles to be played with timeshares. If you book closer to your planned visit (thus with less certainty of getting your first choice), our salesman said that the point requirement is cut in half (Oooh! Only 2 ½ times what I actually paid!). And they were going to throw in a couple of weeks someplace-or-other for free. And probably a microwave oven or a set of grill tools.

I can imagine that some timeshares could make sense for some people. A lot depends on what you usually pay and where you like to visit. And owning a timeshare ensures that you’ll keep taking those vacations, if you are looking for an excuse. Read more »