Villa Vie Residences

[gkbiiii]

30 minutes ago, UKCruiseJeff said:

 

They do not need to.  

 

If it’s a scam then as soon as they have sold as much as they can then they contort insolvency, they pull the shutters down, sell the assets at a knock down price to “another  company” and walk away. And possibly “restart” with the same ship. 

 

If it’s isn’t a scam then they demand higher monthly fees on the basis that if they are not secured then they go on and do as above. 

 

Finally, this has nothing to do with “profit”  It is all about “cashflow” and how you secure, grow and retain and use other peoples’ cash  and divert it to your own pockets.  

 

They really cannot lose at this unless they try to.

 

Jeff

So Jeff, just as I had thought, "the Endless Horizon people" are truly screwed, as their lump sum payment, becomes less valuable as time goes on. Plus others will be out priced of their unites, like my Miami Beach monthly condo dues ($580 12 years ago, now $1,850 soon, to be $2,000 next year).  many of these people, seem like they are on strict budgets with no cushion.  

[UKCruiseJeff]

6 hours ago, gkbiiii said:

So Jeff, just as I had thought, "the Endless Horizon people" are truly screwed, as their lump sum payment, becomes less valuable as time goes on. Plus others will be out priced of their unites, like my Miami Beach monthly condo dues ($580 12 years ago, now $1,850 soon, to be $2,000 next year).  many of these people, seem like they are on strict budgets with no cushion.  

 

I obviously do not know, so my opinions are pure speculation based on my bias and fears.  Does it pass the Duck Test.  “If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.”

 

What is concerning is that so many decent genuine people appear to have broken several prudent rules of life ie they have “burned their boats” and “put all their eggs in one basket” and have no  “Plan B” ie they have sold their homes and their possessions which was where they could retreat too if this risky venture didn’t work out.  They could at least shrug and rebuild their lives. But many have sold their main asset …. appreciating asset … their homes which they have spent a lifetime buying …. and put it into this.  

 

When prudent people consider such an option you must first sit down with pen and paper and dispassionately work out what the risks are and however much they are caught up by the excitement they must learn to say “no” and walk away.  

 

I share other peoples’ hopes here that it does work out for them and that many of our fears prove wrong. 

 

Jeff

[chengkp75]

I fear that even if, by some chance, the company continues its business model, that folks will tire of the "cruise life" experience after 6 months or so, and find their asset has depreciated or few buyers to get them out of the deal.

[UKCruiseJeff]

1 hour ago, chengkp75 said:

I fear that even if, by some chance, the company continues its business model, that folks will tire of the "cruise life" experience after 6 months or so, and find their asset has depreciated or few buyers to get them out of the deal.

 

There is an incentive for VVR to prevent resales. It’s pretty close to the timeshare model.  

 

If VVR places (unforeseen) obstacles in order to prevent a resale then presumably the existing owner would be on the hook for future monthly payments until a sale has been successful.  Or VVR “repossesses” for free and then resells. 

 

I suspect small print doesn’t favour the purchaser.

 

Jeff

[Calm-Waters-Ahoy]

1 hour ago, chengkp75 said:

I fear that even if, by some chance, the company continues its business model, that folks will tire of the "cruise life" experience after 6 months or so, and find their asset has depreciated or few buyers to get them out of the deal.

There will always be someone who is itching to live on a ship and will jump at the chance to do so, if they can afford the monthly costs.  Plus, I bet some percentage of residents will lease their cabins to people wanting to cruise a segment or more, once the novelty wears off.

 

[Giovanni66]

It looks like they are still at anchor. No money to pay the cruise dock ? Do they run tenders or are they are stuck on-board  ?

 

 

 

 

 

Edited Wednesday at 08:32 PM by Giovanni66
wording

[Giovanni66]

7 hours ago, UKCruiseJeff said:

 

There is an incentive for VVR to prevent resales. It’s pretty close to the timeshare model.  

 

If VVR places (unforeseen) obstacles in order to prevent a resale then presumably the existing owner would be on the hook for future monthly payments until a sale has been successful.  Or VVR “repossesses” for free and then resells. 

 

I suspect small print doesn’t favour the purchaser.

 

Jeff

Some of their terms are very ambiguous, they have clauses giving them the right to terminate the contract without a refund.

[Giovanni66]

They got their short-term certs extended to 25th of Dec. Let's see if they have the money for fuel.

[UKCruiseJeff]

It looks like they may be on their way soon.

 

Jeff

[UKCruiseJeff]

It seems to now be “underway” ….. extremely slowly!  (0.3kn!)

 

Jeff

[Zap Rowsdower]

50 minutes ago, UKCruiseJeff said:

It seems to now be “underway” ….. extremely slowly!  (0.3kn!)

 

Jeff

Yeah, I noticed that too a few times since it headed out there Monday night but it appears to be just drifting around at anchorage.

[Papadog]

14 minutes ago, Zap Rowsdower said:

Yeah, I noticed that too a few times since it headed out there Monday night but it appears to be just drifting around at anchorage.

 

[Papadog]

Just now, Papadog said:

Looks like it headed back to Belfast Dry dock....Wonder what happened now?

 

[Port2PortX]

This is so painful to watch for them.

[UKCruiseJeff]

I wonder if they got TWO glasses of wine tonight with their dinner, this being a special occasion and all. 🙂

 

Jeff

[Zap Rowsdower]

17 minutes ago, Papadog said:

 

It hasn't been in dry dock for a few weeks now. There's talk of it going back to port to "tie up a few loose ends / finish paperwork / refill potable water" but it hasn't budged from anchorage since it left the port on Monday night and at this stage the estimated departure times and reasons for delay change so frequently that it's anybody's guess when it will actually leave. 

[Zap Rowsdower]

4 minutes ago, UKCruiseJeff said:

I wonder if they got TWO glasses of wine tonight with their dinner, this being a special occasion and all. 🙂

 

Jeff

Depending on how long they're going to be out there they may need to ration the wine supply, unless a supply boat can bring a few extra bottles over from a shop in Bangor 😂

[as3369]

9 minutes ago, UKCruiseJeff said:

I wonder if they got TWO glasses of wine tonight with their dinner, this being a special occasion and all. 🙂

 

Jeff

They would need to serve me the bottle because there is no such thing as "leftover wine!"

[chengkp75]

That "drifting around the anchorage" is the ship swinging on its anchor chain.  The water there looks to be about 40-50 feet deep, so the ship would have 240-300 feet of chain out, giving a swing circle of 400-500 feet diameter.

[Travel_Around_The_World]

From the master on the bridge himself:

 

The CEO the ship said it would be leaving for France "any minute now."

Speaking to the BBC from the bridge of the Villa Vie Odyssey Residences, Mike Petterson said: "No offence, we love you guys, but we have got to go”.

 

https://www.bbc.com/news/articles/c0qz7qn8l9yo

 

Any minute....it is really any minute now. 

 

According to the harbor schedule VVR is not planned, scheduled or confirmed to go back to port. I guess straight from floating around to France....any minute now.

Edited Wednesday at 11:08 PM by Travel_Around_The_World

[gkbiiii]

15 hours ago, UKCruiseJeff said:

 

I obviously do not know, so my opinions are pure speculation based on my bias and fears.  Does it pass the Duck Test.  “If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.”

 

What is concerning is that so many decent genuine people appear to have broken several prudent rules of life ie they have “burned their boats” and “put all their eggs in one basket” and have no  “Plan B” ie they have sold their homes and their possessions which was where they could retreat too if this risky venture didn’t work out.  They could at least shrug and rebuild their lives. But many have sold their main asset …. appreciating asset … their homes which they have spent a lifetime buying …. and put it into this.  

 

When prudent people consider such an option you must first sit down with pen and paper and dispassionately work out what the risks are and however much they are caught up by the excitement they must learn to say “no” and walk away.  

 

I share other peoples’ hopes here that it does work out for them and that many of our fears prove wrong. 

 

Jeff

 

Jeff, this is very well said, I have a few comments to add.  The problem here is people are in the "living the dream" & "its been my dream of a lifetime..." thought process.  Reason & logic are thrown out the window, for desire & imagination of possibilities and adventure.  Its like Disney fans, going to the magic Kingdom or going on a Disney cruise.  Villa Vie, has tapped into a psychological desire, that hinders all critical thinking abilities.  When I'm casinos, I see this all the time.  Plus like casinos, their is a group psychoses going on, with a cult like structure & leadership.  These people are trapped and they have yet to even set sail. 

[Charry_]

4 hours ago, Zap Rowsdower said:

Depending on how long they're going to be out there they may need to ration the wine supply, unless a supply boat can bring a few extra bottles over from a shop in Bangor 😂

I'm sure they are stocked up with lots of cheap cask wine lol. I wonder what guarantees there are in the contract about the quality and choice of wine and food? I mean "two free glasses"  of cheap nasty wine is nothing to crow about. I doubt there will be a wine list to choose your free wine from ! You can just imagine the cost cutting that will eventually hit them. 

[gkbiiii]

3 hours ago, Charry_ said:

I'm sure they are stocked up with lots of cheap cask wine lol. I wonder what guarantees there are in the contract about the quality and choice of wine and food? I mean "two free glasses"  of cheap nasty wine is nothing to crow about. I doubt there will be a wine list to choose your free wine from ! You can just imagine the cost cutting that will eventually hit them. 

 

They were under the contract, able to get all meals covered, including specialty; however, that was ended.  I bet they will be eventually be restricted to the buffet.  None of the meals looks that great, in the first videos of the buffet or main dining room. Plus there are passengers, who have a finical interest in "nickel & diming" the other passengers. 

[Zap Rowsdower]

3 hours ago, Charry_ said:

I'm sure they are stocked up with lots of cheap cask wine lol. I wonder what guarantees there are in the contract about the quality and choice of wine and food? I mean "two free glasses"  of cheap nasty wine is nothing to crow about. I doubt there will be a wine list to choose your free wine from ! You can just imagine the cost cutting that will eventually hit them. 

 

[Giovanni66]

9 hours ago, Travel_Around_The_World said:

From the master on the bridge himself:

 

The CEO the ship said it would be leaving for France "any minute now."

Speaking to the BBC from the bridge of the Villa Vie Odyssey Residences, Mike Petterson said: "No offence, we love you guys, but we have got to go”.

 

https://www.bbc.com/news/articles/c0qz7qn8l9yo

 

Any minute....it is really any minute now. 

 

According to the harbor schedule VVR is not planned, scheduled or confirmed to go back to port. I guess straight from floating around to France....any minute now.

The way he talks and sounds seems very sketchy.  Any minute now...