Oil Cap Membership available

[Buzzdraw]

Neat place. I heard of a membership selling for several times that last year...

Urban legend I guess; I'll bet that did not happen.

I chaired Oil Capital's Membership Clearinghouse for many years. I a current Director of OCR&GC. While I will not know the price paid between every willing buyer and willing seller, I can definitively tell you how it runs typically.

Memberships usually go for something around $1650; a little more or a little less. That amount includes the club's transfer fee of $100. When late in the year, like we are now, the sales price should also include annual dues, currently $125.

 

[Buzzdraw]

Unless I am mistaken Oil Capital members can't just sale their membership to someone else. If they sell it, it goes back to club who then goes down their waiting list until someone on the list say they'll take it.

Not quite. There are two methods of sale of an Oil Capital membership.

They include direct sale, where a member sells to a prospective buyer, at a price they agree upon. There is a $100 transfer that one party or the other must pay to complete the transfer. Additionally a current member must sign the application as sponsor.

The second is the sale of a membership through its Membership Clearinghouse Committee. A turn-key price is established and collected from the new member. A sponsoring current member is still required. The source of the membership may be either a club-owned one or one left for sale with the committee by a member.

Very few memberships, usually well less than five a year, revert back to the club for non-payment of annual dues. This is the source of club-owned memberships.