Renting luxury watches: a lucrative idea or a losing proposition?

Regardless of whether it is a genuine Rolex or a luxury watch from another well-known brand, anyone who wants to wear a high-quality and attractive piece of jewelry on their wrist will have to dig deep into their pockets. But why not rent luxury watches? What are the potential pitfalls here? And why can it still be worthwhile?

Rent luxury watches for specific occasions

Sometimes there are just certain occasions in life where you just want to shine. A job interview or an important meeting with a business partner are famous examples. Here you want to exude a certain style and of course also show a bit of healthy vanity. A rented luxury watch is also a great thing 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.

Signal a certain status

In today's society, many people try to make an impression with luxury items. In addition to cars and expensive clothing, luxury watches are a particularly suitable product for signaling this status. But how sustainable is this idea? It will be difficult for people on low incomes in particular to show off this luxury for long. Those who are just about making ends meet simply cannot spend four-figure sums on watches. If you just want to rent a watch, this can at least work for a limited period of time. But once you've finally run out of money, frustration quickly sets in. Once you've gotten used to a certain level of luxury, it's very difficult to give it up again.

What are the advantages of renting a luxury watch?

Even if renting a luxury watch can be viewed as rather critical, there are still very clear advantages:

1 Test many different watches:

If you place particular value on luxury and would like to switch between different products, renting a luxury watch is the best option. You can try out 3 or 4 watches without spending too much.

2 You don’t have to decide right away:

Perhaps a certain luxury watch does not shine as much as you would like on your wrist? After a purchase in the four-figure range, this would be very annoying, because you cannot always cancel the watch. If you have only rented it, the loss is very limited, because the fee to be paid is much lower than the purchase price.

3 Lots of luxury even with little money:

Unfortunately, the average earner cannot usually afford a luxury watch, as this would not be in a healthy proportion to their monthly income. However, the rent for such a watch is still manageable.

How much does it cost to rent a luxury watch?

This not unjustified and above all very interesting question cannot be answered in general terms. It always depends on the model in question and the specific provider of the watches. In addition to the actual rental of the watch, there may also be costs for shipping. A high-quality Rolex costs €50 to €80 a day. Not exactly 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 surcharge for insuring the watch in addition to the rental. If this is not the case, or if you do not want this and at the same time have the option of rejecting such insurance, your own liability insurance can also step in. But the offers can differ very significantly from one another here. Anyone considering such an option should definitely check whether the respective insurance also covers damage to borrowed items. Unfortunately, this is very often not the case, especially with very low premiums. The watch could also be stolen. If you are unsure about these conditions, you should definitely contact your insurance company.

Renting luxury watches, what are the disadvantages?

Unfortunately, there are also clearly visible disadvantages in this area:

1 In the long run, a very poor price-performance ratio:

For example, if a luxury watch costs between €1,000 and €2,000, you can usually use it 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 to avoid gradually getting into debt? In some circumstances, it may even make sense to save up for a luxury watch.

2 A False Luxury

If you only have a little money available, you simply cannot afford an expensive luxury watch. Once you get used to a luxury watch, you will constantly try to rent one. This is exactly where it becomes dangerous. If you only pay small amounts for a short rental period, you can quickly lose track. You can quickly fall into the debt trap if you neglect other financial obligations, for example.

3 Drawing a false picture

A luxury watch radiates success and wealth. But if you only rent such a luxury watch, you may not be able to live this luxurious lifestyle. Other people could 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 specific occasions, this model is definitely a good idea, as you can reward yourself with a relatively low financial outlay. If you like to switch between different watches, this model is also a great option. But these are actually the main advantages. You just have to remember 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 over a longer period of time, we would strongly advise against renting the watch. You quickly lose track and gradually get into debt, especially if you have a small income. In such a case, buying a luxury watch makes much more sense. After all, you can save up for such a luxury item and reward yourself in the long term.