Leasing a watch

[NYG1121]

I know I know... I'm about to be completely flamed for this. But, has anyone ever considered belonging to one of these watch clubs where you pay a monthly fee and have access to literally any watch you want? I love watches but obviously can't buy them all and nor would I want that kind of liability. I imagine this would allow opportunity to wear and rotate some really special pieces.

How is this different than leasing anything else that is expensive and (usually) depreciates (ie car)?

Flame suit on...

[GoingPlaces]

Originally Posted by NYG1121

I know I know... I'm about to be completely flamed for this. But, has anyone ever considered belonging to one of these watch clubs where you pay a monthly fee and have access to literally any watch you want? I love watches but obviously can't buy them all and nor would I want that kind of liability. I imagine this would allow opportunity to wear and rotate some really special pieces.

How is this different than leasing anything else that is expensive and (usually) depreciates (ie car)?

Flame suit on...

There are previous threads on this topic. The math doesn't work. For what it costs to have access to the "special pieces" offered, you could buy a pretty decent watch after a year or two.

[Alan111]

I signed up for Vyrent a few months to test drive a few watches. Once I understood their fee and price schedule a bit better, I decided that it was exorbitantly priced. It made more financial sense to buy a watch from a gray dealer and sell it back the gray dealer if you didn't like it or wanted to move on. I think the service would make more sense if the pricing was a bit more practical.

[herts9]

I think it's a valid topic. Taboo for most, I'm sure though.

I look at it like this. Say you were to have a gold DD that you leased for a special occasion. Wedding, milestone birthday, retirement, birth of a child, etc... Then you had to give it up at the end of your lease period. I'd feel like my memories would go with it. I know, it's "just" a watch. But I digress. It's a personal thing.

I won't even get into the wear and tear aspect. Not every leased watch will go through a service before you get to put it on your wrist. I'd anticipate a high dollar lease term to ensure what you're getting is pristine. Seems like a costly alternative to owning outright.

[Zakalwe]

Many watches don't depreciate like cars, the majority of which eventually become entirely worthless. Clearly the vast majority of pieces from the vast majority of brands are not going to do a Patek 5711 or a stainless Daytona, but if you buy smart (i.e. preowned for most brands, not buying grey for watches with inflated prices like BLNR's etc.) then the cost to own is really quite low.

Therefore I can only see that it makes sense if you're wealthy, want to wear lots of different watches and can afford to sink money into a bottomless hole. Then again, if you can afford to do that, you can presumably afford to buy (at least some of) the watches.

[zjd168]

nothing wrong to go for it if the math works out. It didn't make sense before but with the ridiculous grey price for hot models, one might check them again to see if it's different now.

I am more interested in collecting so indifferent to this option.

[NYG1121]

Would be interesting if manufacturers did this. They set the lease term and residual value based on market and you pay the difference.

[beshannon]

Originally Posted by NYG1121

I know I know... I'm about to be completely flamed for this. But, has anyone ever considered belonging to one of these watch clubs where you pay a monthly fee and have access to literally any watch you want? I love watches but obviously can't buy them all and nor would I want that kind of liability. I imagine this would allow opportunity to wear and rotate some really special pieces.

How is this different than leasing anything else that is expensive and (usually) depreciates (ie car)?

Flame suit on...

If you would like to rent jewelry, that is your choice.

I like to own watches that I want to wear and enjoy.

[BillA]

With the FS forum on TRF and FS forums on other watch sites you really have leasing.
Buy a watch, sell it when you get sick of it.
Maybe you make some money, maybe you don't or break even

[TswaneNguni]

Originally Posted by NYG1121

I know I know... I'm about to be completely flamed for this. But, has anyone ever considered belonging to one of these watch clubs where you pay a monthly fee and have access to literally any watch you want? I love watches but obviously can't buy them all and nor would I want that kind of liability. I imagine this would allow opportunity to wear and rotate some really special pieces.

How is this different than leasing anything else that is expensive and (usually) depreciates (ie car)?

Flame suit on...

Considering the collection in your signature ...why would you want to rent or lease a watch ?

[TswaneNguni]

Would it be tax deductible ?

[NYG1121]

Originally Posted by TswaneNguni

Considering the collection in your signature ...why would you want to rent or lease a watch ?

I am not endorsing it. I am simply interested to hear opinions on this topic. It seems like in the current era of endless waitlists, paying premiums, playing AD games, this would be an ideal time to consider something like this.

[Brny11]

No. Not for me. Watches I own are special to me.


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[GONZO2LR]

it be funny if once you join, you request the Daytona. You get an email that you are on the waiting list, 7 month waiting list! haha....

[Dsmith1974]

If it’s anything like cars then I’d be worried about hefty fines for minor scratches. Hard pass for me.

[NYG1121]

What if you had an opportunity to rent your own watch through an exchange? I can only wear one of my watches at one time. But the others could be making me some cash on someone else's wrist (of course with insurance). And it would allow the person who doesn't own it to have immediate access but for a cost... No different than paying crazy market premium

[beshannon]

Originally Posted by NYG1121

I am not endorsing it. I am simply interested to hear opinions on this topic. It seems like in the current era of endless waitlists, paying premiums, playing AD games, this would be an ideal time to consider something like this.

IMHO no company would have enough inventory and the hot pieces would rent for sky high fees. No different than just buying and less productive.

[Chewbacca]

it all depends on the terms and contract stipulations.

it could very well be a good option, or not. the details matter.

[NYG1121]

Originally Posted by beshannon

IMHO no company would have enough inventory and the hot pieces would rent for sky high fees. No different than just buying and less productive.

Ahh but we are the company. A gray gets a hot watch and wants to sell it for twice the MSRP. What if they or any of us have an opportunity to "rent" it instead and get far greater returns. A watch exchange..Food for thought

[johnjm]

Does not compute.

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[2ltdjorn]

Fake it till you make it


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[Importer_Exporter]

Originally Posted by Alan111

I signed up for Vyrent a few months to test drive a few watches. Once I understood their fee and price schedule a bit better, I decided that it was exorbitantly priced. It made more financial sense to buy a watch from a gray dealer and sell it back the gray dealer if you didn't like it or wanted to move on. I think the service would make more sense if the pricing was a bit more practical.

Do you mind going into some detail on the pricing? I just got served an ad for them and I was curious how it worked. I won’t be doing it, but I’ve thought of that business model before.

[Jakey]

Originally Posted by 2ltdjorn

Fake it till you make it


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[timedate]

i would rather buy a cheap quartz watch and own it outright

[TswaneNguni]

Renter will take care of it like anyone who rents anything ...

Wear it like its a rental !!!!

Renters will destroy even a Rolex within a short period

[MTBer]

Originally Posted by NYG1121

What if you had an opportunity to rent your own watch through an exchange? I can only wear one of my watches at one time. But the others could be making me some cash on someone else's wrist (of course with insurance). And it would allow the person who doesn't own it to have immediate access but for a cost... No different than paying crazy market premium

Basically sounds like the car rental service “Turo” except for watches. Given the liability and unknown risks inherent with a complete stranger being given unsupervised use of such an expensive asset, I’ve personally always thought of Turo as a desperate means of subsidizing a car one can’t otherwise realistically afford.

Hypothetical- What happens if the person renting your platinum Daytona damages the watch so severely that it needs a new case and a complete service? What kind of insurance policy would cover this?

[NYG1121]

Originally Posted by MTBer

Basically sounds like the car rental service “Turo” except for watches. Given the liability and unknown risks inherent with a complete stranger being given unsupervised use of such an expensive asset, I’ve personally always thought of Turo as a desperate means of subsidizing a car one can’t otherwise realistically afford.

Hypothetical- What happens if the person renting your platinum Daytona damages the watch so severely that it needs a new case and a complete service? What kind of insurance policy would cover this?

You purchase insurance just like if you rented anything else. There can be different tiers, depending on the liability you want to take on. I can assure you insurance for a watch would be a hell of a lot cheaper than a car.

[zjd168]

Originally Posted by NYG1121

What if you had an opportunity to rent your own watch through an exchange? I can only wear one of my watches at one time. But the others could be making me some cash on someone else's wrist (of course with insurance). And it would allow the person who doesn't own it to have immediate access but for a cost... No different than paying crazy market premium

Not practical to make money in this way.

[MTBer]

Originally Posted by NYG1121

You purchase insurance just like if you rented anything else. There can be different tiers, depending on the liability you want to take on. I can assure you insurance for a watch would be a hell of a lot cheaper than a car.

I’m curious to see what such a policy would look like. Based on comments some people have made here regarding Jewelers Mutual, I’m guessing they wouldn’t be interested in underwriting something like this.

[beshannon]

Originally Posted by NYG1121

I can assure you insurance for a watch would be a hell of a lot cheaper than a car.

And you would be very, very wrong.