https://elevenjames.com
Wonder if it will catch on
You can also lend them your watches and get a monthly fee.
Why would anyone want to rent a watch unless it was part of some larger scam, rent posh offices, a Ferrari and an expensive watch - rip a load of mugs (investors) off and never be seen again.
I'm getting images of Leonardo DiCaprio in 'Catch me if you can'.
Last edited by Wallasey Runner; 20th July 2018 at 17:40.
Looking at this - you have to sign up for a minimum of 6 or 12 months and even the cheap tags are $150 a month - do $750 you could put towards an actual watch in the first six months...
strange how does damage or potential loss work??
So you can ‘rent’ an SS daytona and then buy it. Is that going to be cheaper than buying from a grey dealer?
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It's been around for a while so must be doing ok. Companies in America have been doing it with women's hand bags and jewellery for sometime. It's still going so must be a market for it.
A few years ago who would have thought a concept like Uber would have ever worked? Take another valuable asset like a yacht. Bavaria are teetering on bankruptcy stating that sales never really recovered since the 2008 financial crisis. And now there are several yottie Uber equivalents popping up like borrowmyboat.com and getmyboat.co.uk
Perhaps TZ should crowdfund borrowmywatch.com and administer it via a 200+ post forum
Not something that I would contemplate TBH.
When you look long into an abyss, the abyss looks long into you.........
Down the toilet in:Originally Posted by Alansmithee
6 months of use: vintage Omega/used Oris
24 months of use: Omega Speedmaster/Tudor Black Bay
36 months of use: Rolex/or what ever you want to spend 4,500 on
No, thanks.
I believe this is already here - it's called SC
True, the depreciation/loss being the rental/lease cost.
Would be fascinating if a regular flipper totted up the rentals for a year
'The Catch & Release Damages Thread'True, the depreciation/loss being the rental/lease cost.
Would be fascinating if a regular flipper totted up the rentals for a year
The pawnbrokers (d and g?) on the high street do this.
They suggest it for weddings.
Not a bad idea if you fancy a large dial watch and you have a skinny wrist like me.
I havent enquired about the cost though
Havent read the details but an extended, try before you buy, seems like something potentially worthwhile.
H & T ?
A & B ?
Tell me more, please!
Hire a watch with a significant prospect of it being fake at least in part
I actually set up a business doing exactly this in Singapore: www.tentwo.club
Where it’s really working well is customers who were considering buying one or two models but realised that five minutes in a shop is not enough to tell whether a watch is really for you.
One of our customers wanted to buy a PAM312, had tried a few on and was ready to drop £6k new. Her husband convinced her to sign up with us for a year and give our 312 a proper go. Three weeks in she called us up, said she realised the watch was far too big and heavy, and asked for an early change!! £6k of savings right there - imagine the regret if she’d bought new.
She’s now several months in, has tried a load of great watches for a month at a time, and now feels that a 14060 is the one for her after trying ours, twice now. It’ll be money well-spent and she knows she’ll love it.
THAT’S the value in these services.
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That is a very simplistic way of looking at it. In your first example, you get to wear an Oris. Whoopdee do. Sign up to something like this and you can have a Submariner, an Explorer II, a Speedmaster, a Panerai, etc etc.
You could also buy a used Corsa for the same price as leasing a Porsche for a year, but it wouldn’t be much fun would it? There’s more to life than residual value.
It’s not money down the drain if you enjoy it, and can often save you a lot in the long term (see my above post).
Last edited by ddm27; 21st July 2018 at 23:20.
How hungry people must laugh,,
"Once is happenstance. Twice is coincidence. The third time it's enemy action."
'Populism, the last refuge of a Tory scoundrel'.
Renting a watch ? what a strange idea...
I think the concept works when you consider what your average joe loses by flipping watches as they get bored or realise it doesn’t suit their lifestyle. Issue here is the cost, it is far too expensive.
Imagine if we ran this within TZ... you need to be part of the forum for 1 year and min posts of 500... you pay £75/month and get credits to spend. Money goes into servicing watches, buying new watches and profit sharing.
Last edited by Jlynch1984; 22nd July 2018 at 15:09.
Except it's not 6k of savings...
At least you're being transparent in your own interests in this type of market though, so kudos for that.
Agreed with the SC mentions in here - buy right and you can sell on with minimal loss, if any (minus postage!). Though of course not all watch folk have access to this great forum and that facility.
Hahaha +1
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Okay, I'll rephrase. She was prevented from spending £6k that she would otherwise have spent and immediately regretted, losing a great deal on resale (around £2.5-3k) in the meantime and the accompanying stress and worry that goes alongside that. Instead, she got to try the watch for a month for about £100.
That's exactly it. These services aren't set up for experienced watch guys with good market knowledge who are able to confidently buy and sell with minimal loss - I would've thought that was fairly obvious. We're mostly trying to help people who are considering their first or second watch, or people with one or two watches who want access to a much larger collection and more variety without having to drop upwards of £50k to do so.
Also don't ignore the fact that nice watches are expensive. If, for example, you want a Submariner you're looking at spending £4,000 minimum. Some people simply don't have that, or aren't comfortable with paying that. So for them, the ability to wear the same watch for £100 a month or so - not much more than you'd pay for a gym membership - is a brilliant option.
I should mention that we're set up slightly differently to Eleven James - we don't have "tiers" of customers, so everyone has access to the whole collection, and we offer monthly changeovers (EJ is 3 months, I think), so you get to try a lot more out.
And all our customers to date have been extremely happy with the service :)
I've not read the conditions.....
But I'm wondering what safeguards there are against someone signing up and then returning a "fake" Rolex and disappearing with the original?
We used to have a free "pass around" system over on British Blades forum that gave people the chance to loan various less common knives.
It worked rather well and only cost the price of insured postage to the next person on the list.
The same safeguards that are against someone mugging you in the street or walking out of an AD with a watch in their pocket - it would be theft, plain and simple.
And in this case any company worth their salt will have screened and identified their customers first - not just any muggins can sign up - making stealing a watch a little tricky. That's what we do, anyway.
I think there is a company building their watch inventory as we speak to launch in the UK, they currently rent other products for business conferences such as iPads and laptops and think that there’s a market for this
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Surely the serial number will be checked to make sure it matches the watch that was leased?
I can see why some would want to go down this route and in fact there's a guy I work with who I'm convinced is a member of one of these, given the watches I've seen him wearing...
Let someone else wear my watch ......................*shakes head*
You forgot to mention that the cost of the service is $199 per month, you're tied up for at least half a year and practically giving away an Omega Speedmaster Reduced when the subscription is over. Whoopdee do.
Renting a Porsche for a year instead of buying a used Corsa? Thinking of 18-year-olds who just passed their driving tests.
That's the way I personally see it, most if not all watch forum users will agree. Maybe it really isn't money down the drain it's just hard to argue that it's poor money management.
I am not even going to start talking about sentimental value and seeing someone wearing your watch...
There is a market for such services and I wish you the best of luck, it's just not my cup of tea.
I wouldn't trust the majority of wearers to not scratch or damage the watches in some way
They have been going a few years now. There is a market. Millennials in particular seem to value experiences over material possessions and this model works for that reason, for all luxury goods. I wouldn’t personally and I suspect most here wouldn’t, but we’re not the target market. Ownership is overrated as they say!
Very true - there seems to be very little desire to "own" much any more.
Does it make sense as a proposition? Yes.
Would I do it myself? No.
Having a 20yr old son and working in a sales team aged from 23-50 yrs old I have some experience of this.
The older chaps (35 plus so not THAT old) all have houses, mortgages, perhaps own a “weekend” car (we all have company cars) Rolex/omega etc, mainly married, wife has jewellery, go out for a nice meal on their weekend off and have a really nice holiday 2-4 times a year. Successful guys.
The millennials seem to eat out every other night, party every weekend, live with parents or rent an apartment, spend £100’s of pounds on inappropriate tattoos, tshirts, skinny jeans and spend £2k on a 3 day city break in Dubai. Fueled on artisan sandwiches and Red Bull, They’re littered all over Instagram and Facebook in their (company) car, pics in the Hilton and drinking £17.95 cocktails in The Alchemist and buying a bottle of Vodka in the VIP area. They LOOK successful but they blow every penny they earn, and usually in the last week before payday they’re eating paste sandwiches and pot nood,washed down with Asda’s Own “Red Bull”
So yes, I agree it could work with milennials because they just want to LOOK successful.
Hugely condescending but i get the tongue in cheek comments haha
I would not consider renting or renting out my watches but i can also appreciate that trying out a watch without having to buy it as quite interesting in many ways. People test drive cars and all that before blowing say £15k+ but for a £15k watch we go to the shop and have to make a decision there and then. It would be nice to try the watch for a few days or weeks and see if u really like it. Tho i know that this service isn’t aimed at such a segment.
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Are you a millennial and is that why you find it condescending? (Not picking a fight, just wondered?)
Whilst it’s a broad statement, and some of it is in jest, the main points I made are all pretty much true of most Of the millennial’s I have dealings with, but not all.
They want instant success and recognition, and rather than saving up for a nice house, they rent a nice apartment. Rather than save up for a Rolex, they could rent one for nights out and Instagram pics.
The short-sighted bit is not thinking about the future.... but that’s a problem in society nowadays!
Last edited by RJM25R; 26th July 2018 at 09:32.
"Brrrr, young'uns these days I tell you. Buying fancy sandwiches in their t-shirts and their skinny jeans, putting it all up on that Instangran and The Face Book. They even go to bars. Can you believe it??? Bars with fancy cocktails. They should lock themselves indoors and save all their money (apart from the 50% they give to me for the buy-to-let I just bought) so they can buy a house off someone like me for 5x what I bought it for 10 years ago.
Get off my lawn."
Last edited by ddm27; 26th July 2018 at 09:56.
Quite an interesting concept here, but not from the perspective of renting a watch but putting a watch up for rent. Let’s put some numbers together, first some assumptions:
1. Commission to the owner is 50% of the price quoted on the site.
2. The watch gets 75% utilisation (rented for 9 months of the year).
Looking at the example of a Rolex OP 39, it has a retail of $5700 and rents out for $200 per month. That’s $900 in my pocket each year which is around 15% ROI. Better than a bank account. Of course, you would be a bit mad to do it if it was a new watch as the initial depreciation would knock out some of that return, but a nice 1 year old watch……
I wonder if there is a service like this for watch here in the UK? Similar business models have been used in the super car hire business for years.
PS RJM25R, not all of us millennials are like that 😉
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