Whether it’s a genuine Rolex or a luxury watch from another well-known brand, anyone who wants to wear a high-quality and attractive piece of jewellery on their wrist has to dig deep into their pockets. But why not rent luxury watches? Where are the potential pitfalls here? And why can it still be worthwhile?
Renting luxury watches for certain occasions
Sometimes there are just certain occasions in life when you really want to shine. A job interview or an important meeting with a business partner are famous examples. Here, you want to radiate a certain style and, of course, also demonstrate a certain amount of healthy vanity. A rented luxury watch is also certainly a great item for a romantic meeting with a new love. So it quickly becomes apparent that a luxury watch is a good idea, especially for short-term purposes.
Indicate a certain status
In today’s society, many people try to make an appropriate impression, especially through luxury items. Besides cars and expensive clothing, luxury watches are a particularly suitable product to signal this status. But how sustainable is this idea? Especially for people with low incomes, it might be difficult to show this luxury to the outside world for a long time. If you can barely make ends meet, you can’t buy watches in the four-digit range. If you only want to rent a watch, however, this can work at least for a limited period of time. But when the money finally runs out, frustration quickly sets in. Once you have become accustomed to a certain luxury, it is very difficult to give it up again.
What are the advantages of renting a luxury watch?
Even though renting a luxury watch can be seen as rather critical, there are nevertheless very clear advantages:
1 Test many different watches:
If you place particular value on great luxury and also like to switch between different products, a rented luxury watch is the best choice. Here you can also test 3 or 4 watches once in a while, and without having to spend an endless amount of time.
2 You don’t have to commit yourself right away:
Maybe a certain luxury watch doesn’t shine as brightly as you would like on your own wrist? After a four-figure purchase, this would be very annoying, because you can’t always necessarily cancel the watch again. If you have only rented the watch, the loss is very limited because the fee to be paid is much lower than the purchase price.
3 A lot of luxury even with little money:
Unfortunately, the average wage earner cannot usually buy a luxury watch, as this would not be in any healthy proportion to his or her monthly earnings. However, the rent for such a watch can still be afforded.
What does it cost to rent a luxury watch?
This not unjustified and above all very exciting question cannot be answered in a general way. It always depends on the particular model and the specific provider of the watches. In addition to the actual rent for the watch, there may also be costs for shipping. A high-quality Rolex costs between 50 and 80 € per day. Not quite cheap, but still a real alternative to a hasty purchase. In this context, you should also think about insurance. What happens if the watch suddenly breaks or if you accidentally cause damage? There can be several options here to prevent chaos. Some providers charge a small extra fee for insuring the watch in addition to the rental fee. If this is not the case or if you do not want this and at the same time have the option of refusing such insurance, your own liability insurance can also step in. But the offers here can differ very significantly. Anyone considering such an option should definitely check whether the respective insurance also covers damage to borrowed items. Unfortunately, this is often not the case, especially with very low premiums. Moreover, the watch could also be stolen. Anyone who is insecure about these conditions should definitely contact the relevant insurance company.
Renting luxury watches, what are the disadvantages?
Unfortunately, there are also clearly identifiable disadvantages in this area:
1 In the long run, a very poor price-performance ratio:
If a luxury watch costs between 1000 and 2000 €, for example, it can usually be used for many years. If you decide to rent such a watch, you will have to pay between 50 and 100 € per day. So how often should you rent in order to get into debt? Under certain circumstances, it may even make sense to save up for a luxury watch.
2 A fake luxury
If you only have a little money at your disposal, you cannot afford an expensive luxury watch. Once you have become accustomed to a luxury watch, you will constantly try to rent a luxury watch. This is where it gets dangerous. If you only pay small sums for a short rental period, you can quickly lose track of what you are paying for. You can quickly fall into the debt trap if, for example, you neglect other financial obligations.
3 Giving a false image
A luxury watch radiates success and wealth. But if you are only a tenant of such a luxury watch, you may not be able to live out this luxurious lifestyle at all. Other people might get a completely wrong impression of the wearer of the watch.
Conclusion – is it worth renting a luxury watch?
If you only want to wear a watch like this on very special occasions, this model makes a lot of sense, as you can reward yourself with a relatively low financial outlay. If you like to switch between different watches, this model is also the best choice. But these were actually the most important advantages. You simply have to consider that in the long run, the price-performance ratio is simply not right. If you want to wear a luxury watch again and again at regular intervals and then over a longer period of time, we would advise against renting the watch. You will quickly lose track of the costs and, especially if you have a low income, you will gradually get into debt. In such a case, buying a luxury watch makes much more sense. After all, you can also save up for such a luxury item and reward yourself in the long run.
This post is also available in: German