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

Regardless of 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 jewelry on their wrist will have to dig deep into their pockets. But why not rent luxury watches? What are the potential pitfalls? And why can it still be worthwhile?

Rent luxury watches for specific occasions

Sometimes there are certain occasions in life where you just want to shine. A job interview or an important meeting with a business partner are certainly famous examples. Here, you want to exude a certain style and, of course, demonstrate a bit of healthy vanity. A rented luxury watch is also certainly a great option for a romantic encounter with a new love. It quickly becomes apparent that a luxury watch is a good idea, especially for short-term use.

Signal a certain status

In today's society, many people try to make an impression primarily through luxury items. Alongside cars and expensive clothing, luxury watches are a particularly suitable product to signal this status. But how sustainable is this idea? Especially for people on low incomes, it will be difficult to display this luxury for long. Those who are just making ends meet simply cannot spend four-figure sums on watches. If you only want to rent a watch, this can at least work for a limited period of time. But when the money is finally gone, frustration quickly sets in. Once you get used to a certain level of luxury, it becomes very difficult to do without it.

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 value luxury and enjoy switching between different products, renting a luxury watch is a great option. This allows you to try out three or four watches without spending too much time.

2 You don’t have to decide right away:

Perhaps a particular luxury watch doesn't shine as brightly on your wrist as you'd hoped? After a four-figure purchase, this would be very frustrating, as you can't always cancel the watch. If you've only rented it, the loss is very limited, as the fee is significantly lower than the purchase price.

3 Lots of luxury even with little money:

Unfortunately, the average earner can't usually afford a luxury watch, as it would be disproportionate to their monthly income. However, the rent for such a watch is certainly 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 watch provider. In addition to the actual rental fee for the watch, there may also be shipping costs. A high-quality Rolex can easily cost €50 to €80 a day. Not exactly cheap, but still a viable 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 are several options here to prevent chaos. Some providers charge a small surcharge for watch insurance in addition to the rental fee. If this is not the case, or if you do not want this and have the option to decline such insurance, your own liability insurance can also step in. However, the offers can vary considerably in this regard. Anyone considering this 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. Furthermore, the watch could also be stolen. Anyone unsure about these conditions should definitely contact their insurance provider.

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'll incur daily costs of between €50 and €100. So, how often should you rent to avoid gradually getting into debt? In some cases, it might even make sense to save up for a luxury watch.

2 A false luxury

If you have limited money, you simply can't afford an expensive luxury watch. Once you get used to a luxury watch, you'll constantly try to rent one. This is precisely where things get dangerous. If you only pay small amounts for a short rental period, you can quickly lose track. You can quickly fall into a debt trap if you neglect other financial obligations, for example.

3 Painting a false picture

A luxury watch exudes success and wealth. However, if you only rent one, you may not be able to live out this luxurious lifestyle. Other people could get a completely wrong impression of the wearer.

Conclusion – is it worth renting a luxury watch?

If you only want to wear a watch like this on very specific 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 ideal. But those are really the main advantages. You just have to keep in mind that the price-performance ratio is simply not right in the long run. If you want to wear a luxury watch regularly and over a longer period of time, we would strongly advise against renting the watch. You can quickly lose track of things and gradually get into debt, especially if you have a low 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 run.