Subscription programs. Subscription programs. It seems as if subscription programs are the new craze when it comes to getting consumers involved with having access to luxury items. Since most Americans don’t have the real financial health to be making expensive discretionary purchases such as an exclusive second home in Paris, a 100 foot yacht, or a brand new Ferrari, subscription based programs have created access to sample some of most luxurious things in life with the stroke of a credit card order. One recent evolution of this for businessmen is to be able to rent luxury watches.
Typically, watches such as Rolex, Panerai, and Cartier may have been out of reach for many men. Or perhaps you just couldn’t stomach the idea of forking out $10,000 or $15,000 for a watch that will be the only one you’ll wear for the next twenty years. Wouldn’t it be nice to actually get some variety to the watches that you wear for both work and leisure? Here are three sites you might want to look at if you think it is the right ‘time’ to rent a watch.
- Eleven James (www.elevenjames.com)– Eleven James is a rent a watch subscription based program that allows you to enjoy four different watches for three months at a pop over the course of a year with their flagship full membership. A full membership will cost you $299 a month or $3,250 per year. With Eleven James, you’ll get assigned a personal concierge that will help size the watches for you and the online collection appeared to be reasonably diverse with brands including Cartier, Patek Philippe, and Rolex.
- Borrowed Time Watches (www.borrowedtimewatches.com)– This rent a watch website works on more of a credit based systems so whether you need a watch for a black-tie event, a special occasion, or just something for an important meeting they have watches to rent out to you. The way you participate in this program is to determine a membership level or what special occasion you need a watch for in the future. Then, you’ll go through a credit check, their concierge service, and a personal sizing for your wrist. It will cost $500 to join which will get you 15 borrowing credits. Borrowed Time Watches also had a fairly extensive collection on their website.
- Haute Vault (www.hautevault.com) – With the Haute Vault rent a watch program you can either joint them via a membership program or you can rent for ONE week for special occasions. Membership in this program has tiered levels of Gold, Platinum, Diamond, or a corporate membership. The higher the level of membership, the pricier your watches can be when you rent them. Haute Vault appeared to have slightly less of a higher level inventory on their website than the first two programs for men’s watches.
Is it the right ‘time’ to rent a watch? If you have unloaded a ton out of your wallet on expensive items in the past only to see them sit and collect dust in your drawers, maybe you should consider selling them and accessorizing your future by renting watches when you need them. This could be a smart money move to save you money in the long run.