High Country Club Properties Net Over Four Million At Auction

By: Destination Club News
Date: May 3, 2010

Once one of the most popular destination clubs in the industry, blending luxury vacation properties with an entry price point lower than some of their competitor's annual dues, High Country Club would be one of the first major clubs to be file for bankruptcy in early 2009, citing the economy, low membership sales, difficulty in obtaining credit, and drastic drops in real estate value all contributing to the club's demise.

Flash forward to a year following their bankruptcy and seven of the club's resort residences were put up for auction "regardless of price" through auctioneer Sheldon Good & Company in March.

Sheldon Good has listed the results of the total sale in the case study portion of their website, claiming $4.3 million for the seven properties.

  • $418,000: 1470 Masters Blvd., Unit #311, Orlando, Florida
  • $517,000: 120 Tip Top Trail, Unit #6537, Keystone, Colorado
  • $722,700: 65 The North Road, Breckenridge, Colorado
  • $588,500: 74 Cresta Road, Unit #306, Arrowhead Village, Colorado
  • $429,000: 1111 Forest Trail, Unit 1121, Mammoth Lakes, California
  • Price Unknown: 2006 Costa Del Mar Road, Unit 2, La Costa Resort, Carlsbad, California
  • Price Unknown: 1600 Broadway, Unit #10E, New York, New York

The totals of the five properties listed above equals approximately $2,675,000. To reach the $4.3 million mark cited by Sheldon Good, the residences in Carlsbad and New York would both have to average over $800,000, making them the two most expensive properties in the lot. Repeated requests to Sheldon Good to ascertain the purchase price of these residences have not been returned.

The worst nightmare of any destination club member is a bankruptcy of their club. Not only are the future travel reservations lost, likely is their refundable membership deposit they paid to join. If you are considering destination club membership, asking about this worst case scenario should be part of your due diligence review with every club you speak with. If you would like to receive of suggested due diligence questions pertaining to this and several other important criteria pertaining to destination club membership, request a free copy of our Destination Club Guide.