Most Expensive Private Clubs - Forbes Traveler

[Chip Gaskins]

Pictures and course descriptions in Forbes link: http://www.forbestraveler.com/golf/expensive-golf-clubs-story.html


25. Red Sky Ranch: $175,000
24. Preston Trail: $175,000
23. Monterey Peninsula Country Club: $175,000
22. Dallas National: $200,000
21. Whisper Rock: $220,000
20. The Golf Club Scottsdale: $250,000
19. Mayacama: $250,000
18. The Yellowstone Club: $250,000
17. Calusa Pines: $250,000
16. Desert Mountain: $270,000
15. Hillcrest Country Club: $275,000
14. The Vintage: $300,000
13. Sherwood Country Club: $300,000
12. Shady Canyon: $300,000
11. The Bridges at Rancho Santa Fe: $325,000
10. Due Process: $350,000
9. The Madison Club: $350,000; $237,500 for property owners
8. Trump National Golf Club New Jersey: $250,000-$350,000
7. Trump International Golf Club: $350,000
6. The Quarry: $400,000
5. Nanea Golf Club: $450,000
4. Liberty National: $450,000
3. The Bear's Club: $500,000
2. The Bridge: $850,000
1. Sebonack: $1 million (rumored)

A few highlights from the article:

"Our list varies by region. In the Northeast and Florida, clubs like #1 Sebonack generally adhere to the traditional model of a standalone golf club. But in Arizona and Southern California, it's unusual to find a newer golf club that isn't the centerpiece of a real estate development. One difference between the two is that the clubhouse at a real-estate centerpiece is more likely to boast additional facilities and activities. There are plenty of choices for everyone: You won't find a pool at Liberty National, in Jersey City, N.J., across New York Harbor from Manhattan's financial district, but the dining experience created by consulting chef Tom Colicchio is sure to attract the city's elite."

"But don't join one of these clubs if you’re looking for a bargain. In addition to initiation, members pay annual dues plus a monthly dining minimum ranging from $100 to $1000. Dues are usually a fixed amount that can range from around $10,000 to… well, a lot more. Reportedly, members in at least one club in Connecticut's Fairfield County pay $50,000 in annual dues, while Trump Bedminster costs $18,500. But at some equity clubs, like Dallas' Preston Trails (#24), for example, operational expenses are tallied at year-end and divided by the number of members. That can run into quite a sum for a small club devoted to pristine conditioning (nearly $2 million one year at Preston Trails)."

"How authoritative is our list? It doesn’t take in some of the ultra-private clubs, such as the nine-hole Dunes Club in New Buffalo, Mich., built by Bandon Dunes developer Mike Keiser for a membership number in the dozens. And, a number of reported fees had only one source (such as the Vineyard Golf Club on Martha’s Vineyard, reportedly at $300,000); but since they lacked secondary confirmation, we omitted these. But as far as something that might be in your backyard, it’s close to a pretty good accounting of the priciest clubs in the country."

[fred ruttenberg]

They did not mention Cherokee Plantation which, according to Golfweek, had a $3million initiation.

[jeffwarne]

as usual a poorly researched article

both pieces of info about my club are inaccurate.(one is flat out wrong, and the other outdated by a year)
I like the part about omitting items because they lacked "secondary confirmation"
Perhaps they counted a caddie carrying TWO bags as "secondary confirmation"

I can also think of at least three clubs within 20 miles of me that would be in the top 15 that aren't listed

[Bill Shamleffer]

A variety of publications have been publishing "lists" for many many years.  Whenever these lists get into the areas of individuals' financials or private clubs, any rational person will realize that these lists should NOT be read as factual, but rather as "slightly" educated guessing.

Most of us realize that there are many people likely missing from the Forbes 400 (for example).  But the people that get ranked are the people that have gotten publicity for one reason or another.  Therefore, those VERY wealthy who have accumulated their wealth through a very mundane but highly successful family business can often be missing from the Forbes 400 due to they live average lives and do little to call attention to themselves

If anything these articles more than border on being gossipy.  Nevertheless, I am guilty of often skimming these "richest" or "most expensive lists".  I think they actually serve some minor purposes, but in the end they are primarily guilty pleasures.

[Peter Wagner]

Pictures and course descriptions in Forbes link: http://www.forbestraveler.com/golf/expensive-golf-clubs-story.html


25. Red Sky Ranch: $175,000
24. Preston Trail: $175,000
23. Monterey Peninsula Country Club: $175,000
22. Dallas National: $200,000
21. Whisper Rock: $220,000
20. The Golf Club Scottsdale: $250,000
19. Mayacama: $250,000
18. The Yellowstone Club: $250,000
17. Calusa Pines: $250,000
16. Desert Mountain: $270,000
15. Hillcrest Country Club: $275,000
14. The Vintage: $300,000
13. Sherwood Country Club: $300,000
12. Shady Canyon: $300,000
11. The Bridges at Rancho Santa Fe: $325,000
10. Due Process: $350,000
9. The Madison Club: $350,000; $237,500 for property owners
8. Trump National Golf Club New Jersey: $250,000-$350,000
7. Trump International Golf Club: $350,000
6. The Quarry: $400,000
5. Nanea Golf Club: $450,000
4. Liberty National: $450,000
3. The Bear's Club: $500,000
2. The Bridge: $850,000
1. Sebonack: $1 million (rumored)

Poorly researched article:

Sherwood was 300k until July of 2007 when the price was lowered to 200k.
Hillcrest was never at 275k.  Last number I heard was 160k.
The Quarry was never 400k although it did float as high as 300k about 4 years ago.  For the past 9 months or so it's been around 160k.  I remember being offered a membership at $100k about 2 years ago.
The GM of The Bridge was recently quoted in Golf World as saying the down stroke was $600k not 850k.  Remember, this was the article about members having no dress code at the Bridge.

Some SoCal clubs left off the list were Riviera at 250k (for a NON-equity membership), Big Horn in Rancho Mirage at 250k, and Toscana at about 200k.

Also left out was a discussion of the wide range of dues.  Many top Palm Springs area clubs are going well past 20k per year.  Madison is @28k per year for example.  Big Horn is $24k.  Don't forget that due to weather you can only play maybe 8 months a year in the desert.

- Peter

[John Kavanaugh]

Pictures and course descriptions in Forbes link: http://www.forbestraveler.com/golf/expensive-golf-clubs-story.html


25. Red Sky Ranch: $175,000
24. Preston Trail: $175,000
23. Monterey Peninsula Country Club: $175,000
22. Dallas National: $200,000
21. Whisper Rock: $220,000
20. The Golf Club Scottsdale: $250,000
19. Mayacama: $250,000
18. The Yellowstone Club: $250,000
17. Calusa Pines: $250,000
16. Desert Mountain: $270,000
15. Hillcrest Country Club: $275,000
14. The Vintage: $300,000
13. Sherwood Country Club: $300,000
12. Shady Canyon: $300,000
11. The Bridges at Rancho Santa Fe: $325,000
10. Due Process: $350,000
9. The Madison Club: $350,000; $237,500 for property owners
8. Trump National Golf Club New Jersey: $250,000-$350,000
7. Trump International Golf Club: $350,000
6. The Quarry: $400,000
5. Nanea Golf Club: $450,000
4. Liberty National: $450,000
3. The Bear's Club: $500,000
2. The Bridge: $850,000
1. Sebonack: $1 million (rumored)

A few highlights from the article:

"Our list varies by region. In the Northeast and Florida, clubs like #1 Sebonack generally adhere to the traditional model of a standalone golf club. But in Arizona and Southern California, it's unusual to find a newer golf club that isn't the centerpiece of a real estate development. One difference between the two is that the clubhouse at a real-estate centerpiece is more likely to boast additional facilities and activities. There are plenty of choices for everyone: You won't find a pool at Liberty National, in Jersey City, N.J., across New York Harbor from Manhattan's financial district, but the dining experience created by consulting chef Tom Colicchio is sure to attract the city's elite."

"But don't join one of these clubs if you’re looking for a bargain. In addition to initiation, members pay annual dues plus a monthly dining minimum ranging from $100 to $1000. Dues are usually a fixed amount that can range from around $10,000 to… well, a lot more. Reportedly, members in at least one club in Connecticut's Fairfield County pay $50,000 in annual dues, while Trump Bedminster costs $18,500. But at some equity clubs, like Dallas' Preston Trails (#24), for example, operational expenses are tallied at year-end and divided by the number of members. That can run into quite a sum for a small club devoted to pristine conditioning (nearly $2 million one year at Preston Trails)."

"How authoritative is our list? It doesn’t take in some of the ultra-private clubs, such as the nine-hole Dunes Club in New Buffalo, Mich., built by Bandon Dunes developer Mike Keiser for a membership number in the dozens. And, a number of reported fees had only one source (such as the Vineyard Golf Club on Martha’s Vineyard, reportedly at $300,000); but since they lacked secondary confirmation, we omitted these. But as far as something that might be in your backyard, it’s close to a pretty good accounting of the priciest clubs in the country."

Rater card - priceless.

[Bob_Huntley]

The number on MPCC is low by $50,000.00.

The Vintage dues are closer to $30k pa.

A poorly researched article.

Bob

[jeffwarne]

Pictures and course descriptions in Forbes link: http://www.forbestraveler.com/golf/expensive-golf-clubs-story.html


25. Red Sky Ranch: $175,000
24. Preston Trail: $175,000
23. Monterey Peninsula Country Club: $175,000
22. Dallas National: $200,000
21. Whisper Rock: $220,000
20. The Golf Club Scottsdale: $250,000
19. Mayacama: $250,000
18. The Yellowstone Club: $250,000
17. Calusa Pines: $250,000
16. Desert Mountain: $270,000
15. Hillcrest Country Club: $275,000
14. The Vintage: $300,000
13. Sherwood Country Club: $300,000
12. Shady Canyon: $300,000
11. The Bridges at Rancho Santa Fe: $325,000
10. Due Process: $350,000
9. The Madison Club: $350,000; $237,500 for property owners
8. Trump National Golf Club New Jersey: $250,000-$350,000
7. Trump International Golf Club: $350,000
6. The Quarry: $400,000
5. Nanea Golf Club: $450,000
4. Liberty National: $450,000
3. The Bear's Club: $500,000
2. The Bridge: $850,000
1. Sebonack: $1 million (rumored)

Poorly researched article:

The GM of The Bridge was recently quoted in Golf World as saying the down stroke was $600k not 850k.  Remember, this was the article about members having no dress code at the Bridge.

Also left out was a discussion of the wide range of dues.  Many top Palm Springs area clubs are going well past 20k per year.  Madison is @28k per year for example.  Big Horn is $24k.  Don't forget that due to weather you can only play maybe 8 months a year in the desert.

- Peter

Peter,
The information (from the article) is at least 3 years old.
Also The Bridge has no GM.

The Bridge started at the unheard of price of $500,000 in 2002 and has increased incrementally and substantially at least once a year as memberships are sold.


My issue is with the quote about guests being free.
They are not free and never have been.
It would be hard to get "secondary confirmation" on something as inaccurate as that
unless of course you never really tried

[Kyle Henderson]

Wow. I'm poorer than I thought.

As much as I love golf, I don't think I could ever rationalize spending a million bucks for the right to play one course when there are so many ways for that money to be used to benefit the less fortunate people in this world.

I realize that is an entirely different thread and I make no judgement of those who pay those fees. Certainly many members from those clubs are quite generous (and I'd certainly accept an invitation to join them if they need a playing companion). Still no matter how affluent I might become, I hope I would learn to cope with playing public courses and dedicate my good fortunes to other endeavors. Heck, I could play Pebble Beach at $500 a pop for quite some time before I hit those totals.

[John Kavanaugh]

Wow. I'm poorer than I thought.

As much as I love golf, I don't think I could ever rationalize spending a million bucks for the right to play one course when there are so many ways for that money to be used to benefit the less fortunate people in this world.

I realize that is an entirely different thread and I make no judgement of those who pay those fees. Certainly many members from those clubs are quite generous (and I'd certainly accept an invitation to join them if they need a playing companion). Still no matter how affluent I might become, I hope I would learn to cope with playing public courses and dedicate my good fortunes to other endeavors. Heck, I could play Pebble Beach at $500 a pop for quite some time before I hit those totals.

Kyle,

What is the most you would ever pay for a piece of art if you had unlimited funds?

[Mike Golden]

What about Palo Alto Hills, Los Altos CC, Sharon Heights and Pasatiempo?  All of them were well over $175K not that long ago.

The title of this article should have been, "the most expensive private clubs I could find with my limited research budget"

[Dean Stokes]

Kyle, when your next business venture nets you $300 million, tell me you wont be joing a few of these clubs listed.....

It does seem like a poorly researched article however. There are several clubs omitted from the list that even I know about, not that I'll ever be a member of them!

[jeffwarne]

So Kyle,
You have a home in The Hamptons and a net worth  of  at least 75 million.(and many as much as billions)
You donate to numerous charities a large % of your income, as well as your time.

You're saying you would drive to Montauk wait 3 hours to tee off and then play a 6 hour round.
Or join an awful club and course for $100,000?

You either join one of the newer clubs with their high fees (by necessity because of real estate prices) or you quit golf.
The older clubs are full

I often hear people  criticize others with high net worths for not doing enough for their fellow man with their millions---- perhaps they are- should they quit golf because joining a club costs a lot?

[Mike Golden]

Wow. I'm poorer than I thought.

As much as I love golf, I don't think I could ever rationalize spending a million bucks for the right to play one course when there are so many ways for that money to be used to benefit the less fortunate people in this world.

I realize that is an entirely different thread and I make no judgement of those who pay those fees. Certainly many members from those clubs are quite generous (and I'd certainly accept an invitation to join them if they need a playing companion). Still no matter how affluent I might become, I hope I would learn to cope with playing public courses and dedicate my good fortunes to other endeavors. Heck, I could play Pebble Beach at $500 a pop for quite some time before I hit those totals.

Kyle, it's everyone's decision as to where they spend their money but, on a % basis, paying $50-100K for a membership if you have $1M in assets is the same as paying $1M with $20+M in assets.  I'd be the last person to pay $1M to play anywhere because I probably wouldn't feel comfortable with the membership.  I have been a member of 2 clubs where the intiation fees are now over $100K (both were about half that when I joined) and it represented, in both cases, a higher percentage of total assets than the guy with $20M paying the $1M.  I see nothing wrong with spending money in the places that make you feel good and golf is such an important part of my life when I am playing that it is worth the investment to me.

[John Kavanaugh]

Have you ever had a golf buddy who didn't have a car and you had to pick him up at his house and haul his ass around every time you played?  That must be like being the only guy in your foresome with a Gulfstream.  Nobody wants to take their own jet every trip.

[Mike Golden]

Have you ever had a golf buddy who didn't have a car and you had to pick him up at his house and haul his ass around every time you played?  That must be like being the only guy in your foresome with a Gulfstream.  Nobody wants to take their own jet every trip.

John wouldn't be saying that if he paved runways instead of highways

[John Kavanaugh]

We are very fortuneate for airport work to account for around 20% of our revenues.  Hard to believe I could live in a county with 14,000 people and have 4 airports.  Never ridden on a private jet though.

[Kyle Henderson]

John K: That's hard to say. certainly, having unlimited funds might change my perspective. Right now, my cap is about $200, and the piece better be one-of-a-kind at that rate.

Jeff/Dean: I know better than to say it will never happen, but in the unlikely event that I'm worth anything close to the equivalent $300 million in today's market, I'd  like to think I would be content to have a nice little place in Pinehurst. Dozens of golfing options. Much better weather than Long Island.

Mike: I'm not saying it's wrong. It boils down to personal values. I love golf, particularly on great golf courses, but I try not to let that love surpass my sense of philanthropy.

[John Kavanaugh]

I'd like to see the super rich worry less about the poor and more about their own children and the women who helped get them there.

[Dan Herrmann]

The author should know that a member never discusses internal club matters like how much he paid to join or his monthly dues.    Generally speaking, I find it to be quite gauche.

[Bill Shamleffer]

I was waiting for Hamilton B. Hearst to explain that none of the clubs where he is a member need initiation fees this high to obtain the "proper type" of membership.  Besides, most of the members at the clubs where he is a member can not afford these fees since their trust funds are not very liquid.

Then I realized that since the death of Huntington Hartford I have not seen any Hamilton B. Hearst postings. 

For any not aware of the eccentric Huntington Hartford, google for his recent obits.

[Steve_ Shaffer]

If this article is somewhat accurate, both Whisper Rock and Golf Club Scottsdale have doubled their entrance fee in the last year or so.

[rchesnut]

Another important issue (beyond down payment and monthly dues) is how much you get back (if any) when you leave the club.  Transfer fees are typically 20-40% and up. 

Somebody asked about Pasatiempo.  Pasatiempo is a little different than most of the clubs on this list since it allows public play during certain hours, which reduces the financial hit for members but also means that the club doesn't have the exclusivity and amenities of a club like Mayacama.  And Pasatiempo is a full equity club, meaning that the buyer gets a share directly from an existing shareholder, and the seller gets to keep all the money, no transfer fees.  The value might go up or down.  For decades, it was actually a good investment, but with the dot com boom the price rose all the way to $300,000 for a brief time, then dropped.  Shares are trading now for about $140,000.    Members pay about $3600 a year for unlimited golf, no food minimums.   

[mike_beene]

Kyle,if you join a few clubs and blow money on other hobbies and pleasures,think of the number of people you help employ. I bet that money goes a lot farther than the millions the government will have confiscated from you to misuse for the most part.Take some of your extra money and start a caddie program.Now that we have solved that,pick a good infomercial,go to the seminar and invite me to your new clubs(futures access does not count as an access request.)

[cary lichtenstein]

Another important issue (beyond down payment and monthly dues) is how much you get back (if any) when you leave the club.  Transfer fees are typically 20-40% and up. 

Not something anyone will have to worry about after Nov.

I'm sure our next Presdent, Obama will add the return of Initiation fees to be a fully 100% taxable event in his good faith IRS Code revisions redistributing wealth.