• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

Scam warning for Bali

Discussion in 'Business, Investment and Economics' started by sydboy007, Jul 31, 2013.

sentifi.com

Aussie Stock Forum Sentifi Top themes and market attention on:

Tags:
  1. sydboy007

    sydboy007

    Posts:
    3,632
    Likes Received:
    2
    Joined:
    Dec 10, 2012
    for those who wont read the whole post, if you get asked to fill out a survery about bali either say no, or provide false name / hotel details


    Just on holiday in bali and took the bait for winning a prize holiday. Had to go out to Sanur and since I'd neverf been there and was told I could enjoy the beach and pool of the hotel in question thought why not. Free taxi there and back and lunch. Was pretty sure it was going to be a time share hard sell but hey, i can easily say no after availing myself of all that's been promised

    So i get to speak with an Aussie guy who had been a financial advisor in cairns who'd then moved to Bali in 2008. It was quite interesting how they try to frame the "savings" you can make. I'll admit they provide all the relevant information, but they do their best to sort of keep each cost separated in time so that by the end you are likely to forget about the monthly maintenance fee.

    I also had to bit my tongue to not laugh when the Aussie guy said it's s o much easier to operate in Blai due to the less restrictive regulations. Oh I bet. Pretty much no consumer protection is great for these kind of hard sell scams.

    So I say I'd like to have lunch and try out the pool and beach before I decide. Lunch was mediocre, and to be honest I was a bit scared to order anything non vegetarian since the fish / meat was on display with little to keep it at a temp below which bali belly doesn't flourish :D The pool area was quite nice, and the beach was much nicer than in the kuta / legian / seminyak areas. No pesky people selling crap to bother you.

    After a few hours at the pool and beach went back and said the 15K purchase price with the monthly maintenance fee didn't seem to make financial sense to me. The guy that does the "pricing" was from the UK. Think used car salesman in American Dad and you have a pretty good picture of what he was like. Had to really bite my tongue to not call him a tosser. I jotted down a few figures to show him why I didn't see the value. He tried a few emotional cons on me, then I could tell he decided I wasn't going to buy and he'd best be off to the next victim.

    I'd say the monthly maintenance fee alone would let you have a pretty nice 2 week holiday in bali.

    All in all had an Ok day for minimal cost, just an hour n half of my time, but hey I was oin holiday and sorta wanted to experience one of these hard seel campaigns just to see how they operate.
     
  2. basilio

    basilio

    Posts:
    7,560
    Likes Received:
    1,202
    Joined:
    Jun 30, 2008
    Creative arn't they ? I "won" a prize in Bali a few years ago and my partner and I were whisked away for a prize and a sell.

    Reminded of all the worst elements of time share selling in the early 80's in Australia. I found it (very) hard not to say how utterly deceitful it all was. ( I did want to get taken back to the hotel.)
     
  3. kennas

    kennas Searching

    Posts:
    15,109
    Likes Received:
    59
    Joined:
    Apr 21, 2006
    The scam doesn't seem to have altered too much in the past 15 years. Back then, I won some prize from a scratchie type ticket. When I started questioning the numbers I got 'this guy is wasting our time'. Avoid everyone.
     
  4. db94

    db94

    Posts:
    189
    Likes Received:
    0
    Joined:
    Jan 9, 2013
    Same thing happened when my family and I went to Bali (when I was about 13-14).

    Pommy guy tried to sell us time share and tried conning my dad into buying into it. Thank fully my dad knew better.

    The scary thing was that they actually called our hotel room to invite to this 'special' offer. The Indonesian government must sell the immigration forms to them for a price.

    All that aside though, I lovee Bali!
     
  5. sydboy007

    sydboy007

    Posts:
    3,632
    Likes Received:
    2
    Joined:
    Dec 10, 2012
    I've filled out a few more of the surveys

    Decided to have some fun

    I know the poor locals have no idea but I'd say the one's doing the phone calls probably get the message

    I've used the alias

    Richard Cranium
    Seymour Butts
    Wayne Kerr

    I really don't know how anyone can think these are a worthwhile "investment"

    Your saddled with ongoing maintenance levy, and I have no idea how easy it is to make bookings at the other properties they have at the prices they were quoting - $250 / week for one group and $200-600 / week for the other.

    Possibly they're hoping between the sun and bintangs you'll have an addled brain and sign on the dotted line. The 20% discount is a real kicker and the fact the new property is due to be completed by the end of the year so you're getting a second discount by being able to buy in before construction is completed and shares are sold at a higher price.

    I was reading my "free" holiday accommodation T&Cs which included a $77 booking fee and the fact I'd have to sit thru another spiel to get me to buy in. It went into the trash.

    I hate to think what kind of financial advise the aussie guy used to give in Australia. makes me think it could be one of the reasons he packed up shop and hangs his shingle out in Bali now
     
  6. somlon44

    somlon44

    Posts:
    2
    Likes Received:
    0
    Joined:
    Aug 10, 2013
    Your scam does n't manage to have altered an excessive amount before 10 a long time. Back i won a few prize from your scratchier type ticket. While i started asking yourself the numbers I acquired this gentleman is wasting our time. Avoid all people.
     
  7. So_Cynical

    So_Cynical The Contrarian Averager

    Posts:
    6,877
    Likes Received:
    470
    Joined:
    Aug 31, 2007
    My ex wife once ate a large gold fish in Bali.
     
  8. burglar

    burglar

    Posts:
    3,661
    Likes Received:
    2
    Joined:
    Nov 22, 2010
    Yes! That would be a deal-breaker for me too, also! :p:
     
  9. sydboy007

    sydboy007

    Posts:
    3,632
    Likes Received:
    2
    Joined:
    Dec 10, 2012
    BURP?
     
  10. freebird54

    freebird54

    Posts:
    331
    Likes Received:
    10
    Joined:
    Jan 28, 2009
    I love these seminars - 35 years ago they were all the rage in Hawaii - I got a load of banquets and yacht trips out of that. And of course same here and other countries.
    you have to have all the answers when the closer appears - you start off with just amateurs.

    Because of the rise in prices some people have done very well of course - just like the King Con negative gearing seminars.
     
Loading...

Share This Page