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Is It The Right ‘TIME’ To Rent A Watch

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.

  1. 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.
  2. 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.
  3. 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.

Written by: Ted Jenkin
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About the author  ⁄ Ted Jenkin @ Your Smart Money Moves

Ted Jenkin @ Your Smart Money Moves

Hey!

My friends and family all think I’m a workaholic, but I say I’m just a guy that loves to help people do better in life.

My mother is still the only one that calls me by my real name Theodore Michael, my wife calls me Teddy, but for the rest of you it is just plain old Ted.

Ever since I was a little kid, I always loved money and being an entrepreneur. In fact, I still have cassette tapes of me talking to my grandmother at the age of five and my mother tells me all the time how much I played with money as a kid...

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Ted Jenkin is a frequent guest columnist for the Wall Street Journal and Headline News Weekend Express. He is the co-CEO of oXYGen Financial. You can follow him on LinkedIn @ www.linkedin.com/in/theceoadvisor or on Twitter @tedjenkin.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice.

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor regarding your individual situation. 

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2 Comments

  • Avatar
    April 14, 2015

    I thought this was a joke at first, but I guess I don’t really understand the concept of wearing and owning expensive things to impress other people. People can have some pretty strange notions about what’s important.

  • Ted Jenkin @ Your Smart Money Moves
    April 18, 2015

    Agreed. Crazy this exists but there is a business model for everything

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