Would You Rent a Watch Instead of Buy It?

Would You Rent a Watch Instead of Buy It? Eleven James Hopes So

Earlier last year there was a lot of publicity about Eleven James – a fairly new company with a fairly new concept – especially as it relates to luxury watches. The idea is simple: rent a luxury watch. It is definitely contrary to the sentiment voiced in the famed Patek Philippe marketing statement “You never own a Patek Philippe, you merely look after it for the next generation” – underscoring the heirloom quality of a fine wristwatch. However, it is in keeping with the fashion concept of Rent the Runway, wherein women can rent designer dresses and gowns that cost thousands of dollars.

Make no mistake: Eleven James is not renting fashion. Instead, this company is renting luxury – affordable and not so affordable – depending on where you fall in the scheme of things.

Audemars Piguet Royal Oak Chronograph

The concept behind Eleven James is multi-fold. First, renting a watch enables those who can’t afford high-end luxury timepieces access to them, so they can experience them and maybe even grow an affinity for them. Secondly, renting a watch takes the “scare factor” out of actually buying the watch for the renter. He or she can rent it and wear it for a while to determine if it is the right purchase. Thirdly, it enables renters to show off an entire wardrobe of watches to the right people throughout the year – thereby demonstrating their passion for watches.

Eleven James offers several different rental levels at accordingly priced subscription fees to make the program accessible to all types of watch wearers. One level will consist of watch brands such as Panerai, Rolex , IWC, while the highest level offers brands such as Patek Philippe or Vacheron Constantin.

It should be noted that Eleven James rents these watches to customers solely through it’s own devices. That is to say that it does not work directly with any watch brand it stocks and rents. In fact, it is in direct opposition to any watch brands’ best interest – which would be to sell more watches at retail. As a journalist covering the watch and jewelry industry – that factor alone almost made me shy away from covering the company. However, journalistic curiosity won out (as always) and I decided to investigate further.