We’re definitely past the time when watches were only desired for their practical purposes. Today, it’s as much of a style staple as fine jewelry. Luxury watches are more associated with fashion than before and shopping for them isn’t far from the experience of going into your favorite designer boutique, picking out, and splurging on new clothes and shoes to take home.
As much as investing in a timepiece is a satisfying and fulfilling experience, what comes before that – all the decision-making about the brand and the watch model, and finally putting your foot down on just one piece – can be distressing, not to mention time-consuming.
Online shopping isn’t the only thing that changed in the way we shop for watches. Rentals have started to pop up for those who can’t commit to just one watch or who needs a little more than trying out models in a boutique to decide which one to get. It’s a fairly new kind of business, but here are seven websites to help you get started on your hunt.
Acquired Time has the best name for what you get to experience through their rental service. It promises what it says in its name, only it applies to timepieces and not actual time. It’s a similar subscription service as Eleven James, but based out in Singapore.
Its membership options are determined by tier and price; and each tier is determined by the models under it that are available for rent. You can choose which to get based on your budget, or style needs and preferences. The prices start at SG$100 for the Nomad tier, which goes up to SG$175 for the Jet-setter tier, then SG$225 for the Voyager tier, and SG$330 for the Wayfarer tier, which is the highest it can get. Every tier has a minimum of six months of subscription and offers models from the brands Rolex, Audemars Piguet, Panerai, IWC, Hublot, Tudor, and one Chanel Premiere. However, the brand delivers a rare personal experience as they can give you a bespoke option with some watches from different tiers.
In the same way that Eleven James operates, you get to choose your personal collection that will be sent to you to rent on rotation. You get to have the watch for a month with the option to extend, but also has late fees priced at SG$38 per day. A personal concierge will be the one to handle all your relations with the rental service, including delivery of the watches and an Acquired Time agreement, which clarifies that you’re held liable for the loss or damage of a watch.
Some people who don’t want to have just one timepiece for the long haul may find that a membership subscription only replaced the same kind of commitment as buying a watch. And if you hate making that kind of commitment, then Clerkenwell Watch Co. is the perfect place to resolve your immediate need of a watch.
It doesn’t require much when you rent because there’s no need for a membership or security deposit when you rent, only a government-issued ID. Their risk management process protects their business because it determines whether reservations made are fraudulent or not. With a pay-as-you-go system, you can rent one timepiece with no solid commitments to Clerkenwell. Only when you want to continue the service will you be asked to be a member for long-term renting.
It starts with choosing a model and placing an order followed by confirming your wrist size from a chart provided. You get to enjoy the watch with no time limits. If you’ve sustained a good record of renting and returning watches for 12 months, you’re rewarded with the advantage of renting more than one watch at a time. Returning a watch is also easier with the prepaid shipping label given.
Clerkenwell offers several rewards when you opt for a membership, like earning back 20 cents from every dollar you spend on renting. The rewards can be used for future rentals or for buying a new watch from the same website. But the rewards shouldn’t be mistaken for points. When you buy a new watch, your points will be multiplied, which you can then spend again on new or used watches the Clerkenwell has in their collection.
Borrowed Time takes a slightly different approach with their special event borrowing service for one-time customers who need a fine timepiece for a specific occasion. Borrowed Time offers a wide selection of watches from Glashutte, Breitling, Anonimo, Cartier, Chronoswiss, Omega, Panerai, Piaget, Rolex, Tag Heuer, and Ulysse Nardin.
If you need something for a specific event, whether it has a theme or you just want it to match your attire, Borrowed Time also gives out recommendations depending on the kind of event you’re going to attend. A borrow request form is the first step to finalizing your order and then it follows the standard steps of delivery and return methods once it’s confirmed.
The Watch Club membership is the upgraded experience that’s worth $500. However, apart from renting, it also gives you 15 borrowing credits, a $125 equity credit that you can use when you buy a watch, suggesting and voting privileges for new additions to Borrowed Time’s collection, and first access to online flash sales and exclusive member events.
Additional rewards are given to people who can get referrals. Three borrowing credits are given for every extra friend who borrows or joins the Watch Club and five borrowing credits for every extra friend who buys a watch through Borrowed Time’s concierge sales. These credits don’t expire, applies to any watch in the collection, and can be used any time.
Mr. Woolfe Watches targets a different desire out of people who want to rent watches. It aims to give its cusstomers the chance to experience their dream lifestyle with ths rental service that provides them the luxury timepiece of their choosing—even for a limited time, but for a fraction of the amount it takes to get a new one permanently.
Renting a watch requires you to subscribe to their exclusive watch society or the Woolfe pack. Every subscription tier offers different renting options depending on how short-term or long-term you’re willing to commit to Mr. Woolfe.
The Weekender is the membership for the short haul. It’s meant for people who need a watch for a specific event only. The Enthusiast tier is the opposite because it’s for the long-term, one that goes on for at least a year. It allows you to choose from a variety of watch brands and enjoy different models on a quarterly basis, so you get to enjoy one for three months.
While the Enthusiast offers a wide selection of brands, Collector or the jet-setting tier offers more high-end brands and access to VIP industry events. It’s already a prestigious kind of membership but for those who want the elite treatment, the Grandmaster is the highest subscription tier that includes the best customer service and, in its selection, timepieces exhibiting the best quality and craftsmanship.
Axess Chronos is a Chicago-based watch rental that thrives off of the sharing economy that we can see being used across different industries. It boasts of its A+ BBB rating and its collection that includes pieces from Rolex, Panerai, Tag Heuer, Breitling, and Omega. For all the luxury brands it carries, Axess Chronos provides affordable renting prices starting from $7 for a day or $168 for a month after the first-time discount is applied.
The rental duration spans from 3 days to 2 months or more upon request. The order should specify your start and end dates that determine when Axess Chronos will deliver the item and when you’d return it. It’s advisable to set the start date at least a day earlier if you’re about to use it for an event to avoid rushing that emergencies would incur. Returning the watch is the same as others that offer this kind of service, as a prepaid shipping materials are provided for you.
Axess Chronos has a loyalty program that earns you points as much as 500 for when you create an account, which is free. It equates to $5 when you use the points to buy a watch, so the more times you spend on renting, the more you’ll accumulate points that can get you closer to buying your own. Two points are added for each dollar spent after the initial membership, 3,500 for every new referral after your first rental. This also gets your friend a 15 percent discount when they buy a watch. The point system increases when you spend at least $500 in one calendar year, making you an elite member and gets you to earn three points instead of two for each dollar spent.
Launched in 2014 by husband-and-wife business duo Jonathan and Taylor King, Haute Vault is the ultimate rental for luxury timepieces and fine jewelry for bridal and couture purposes. They come from the business of jewelry-making and as an owner of a five-generation jewelry business, the Kings saw offering rentals as the next best step for expansion. Aside from their own jewelry, Haute Vault offers timepieces from other brands and timepieces from Jaeger-Le Coultre, Cartier, Rolex, and IWC, among others.
Applying for a membership online is the first step to renting a timepiece. Your application would go through their vetting process wherein your credit standing need to qualify Haute Vault’s requirements. After the tedious process, you can opt to be an occasion-based user. Nevertheless, you browse from their collection and select pieces that you like and would want to wear for a week to a month. There is an option to keep the watch, and all of your equity credit will be used in its purchase. If not, you can always return and go back to reserving your next timepiece.
These websites and luxury watch rental services exist because of the shift in the market where almost every kind of product can be rented out. Though they have different starting stories, the websites all aim for one thing: for the customer to avoid regret as a buyer. This consumer culture is forming some bad retail habits in most of us. At the very least, these rental services could give us sartorial satisfaction of wearing different timepieces but in the bigger picture, it’s more sustainable and puts the customer’s needs and desires first.
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