HWZ Forums

Login Register FAQ Mark Forums Read

Luxury Watch Rental and Subscription

Reply
 
LinkBack Thread Tools
Old 14-06-2018, 02:52 PM   #1
Junior Member
 
Join Date: Jun 2018
Posts: 2
watch rental

Hi guys, have yall came across with an idea of renting luxury watch? Personally thought that it would be a cool idea. Any thought for you guys?

Last edited by limjing987@gmail.com; 14-06-2018 at 05:00 PM..
limjing987@gmail.com is offline   Reply With Quote
Old 14-06-2018, 03:16 PM   #2
Arch-Supremacy Member
 
mun_hoe's Avatar
 
Join Date: Oct 2001
Posts: 19,536
there are such services available thru google search
i smelt that you are here to promote yours

how cool is that in anyway? it's either if you have the means to own your desired authentic piece, or own a replica of your desired authentic piece, or rent a piece for gala dinners, your fakey friends and relatives gathering?

end of the day, ownself happy jiu hao
mun_hoe is offline   Reply With Quote
Old 14-06-2018, 05:42 PM   #3
High Supremacy Member
 
chromehead's Avatar
 
Join Date: Oct 2010
Posts: 35,109
can you afford to have them get beaten up and wrecked by dimwit clients?

better lock in a deposit each time, with enough to go repair shop or even 1/2 to 3/4 the full retail of the watch
__________________
Fortes Fortuna Adiuvat
芽笼补习中心有很多补习老师
chromehead is offline   Reply With Quote
Old 14-06-2018, 06:04 PM   #4
Junior Member
 
Join Date: May 2012
Posts: 80
can you afford to have them get beaten up and wrecked by dimwit clients?

better lock in a deposit each time, with enough to go repair shop or even 1/2 to 3/4 the full retail of the watch
Very true...how can one even prove that the client has made a dent to the watch let alone a hairline scratch
koster is offline   Reply With Quote
Old 14-06-2018, 09:23 PM   #5
Supremacy Member
 
Kyo_kusanagi86's Avatar
 
Join Date: Mar 2001
Posts: 8,048
I feel that the business will have more to lose then earn.

Imagine 1 teenager rental 1 rolex or AP (say for $100 for 2-3 days with a deposit of $250) then he drop the watch. Are you willing to take legal action against that guy since he cant cover the watch damage/replacement cost? (nowadays teenagers no saving de all is YOLO type) or worst still, go and pawn the watch and spend the $$$ and disappeared
__________________
Aftershock Titan v2.1- 3Dmark Fire Strike 13048,Ice Storm 131029,Sky Diver 28694, Cloud Gate 25232
Kyo_kusanagi86 is offline   Reply With Quote
Old 14-06-2018, 10:24 PM   #6
Member
 
Join Date: Aug 2014
Posts: 198
Hmm I got an idea but not sure will u take it.

Ask for full price of the watch as deposit i.e Rolex 11k then ask for deposit of 11k. Negotiate the rates first. Let's say if $100/day, rent 1 day, after 1 day return him 11k-$100

If drop or what, you give option to take the full deposit and he gets that watch, Or deduct repair cost from the deposit
limjq44 is offline   Reply With Quote
Old 15-06-2018, 12:01 AM   #7
High Supremacy Member
 
chromehead's Avatar
 
Join Date: Oct 2010
Posts: 35,109
Very true...how can one even prove that the client has made a dent to the watch let alone a hairline scratch
every pre-transaction and return there would be a sit down session to mutually inspect the condition of the watch under loupe and proper lighting (portable led lamp etc)

as part of documentation for pre-transaction, standard shots covering every inspected facet of the watch is taken on the spot with client going through the process with you as 'proof of current condition', which they would sign off and hand over the deposit before renting the watch.

and it sounds like a damn chore, imagine 30min~1hr for pre-transact.
do have a fancy room made for that and serve complimentary coffee etc like luxury boutiques

yea full retail, or current market price of watch whichever higher as deposit seems more secure. else joker would just pawn it for lulz.

this way it would be targeted at those who can actually afford the watch upfront, but chose not to buy because they cannot afford more than a few
__________________
Fortes Fortuna Adiuvat
芽笼补习中心有很多补习老师

Last edited by chromehead; 15-06-2018 at 12:04 AM..
chromehead is offline   Reply With Quote
Old 15-06-2018, 12:08 AM   #8
Arch-Supremacy Member
 
zuoom's Avatar
 
Join Date: Feb 2002
Posts: 20,607
And how much the user going to pay?
zuoom is offline   Reply With Quote
Old 15-06-2018, 09:25 AM   #9
Member
 
Join Date: Jun 2008
Posts: 198
Interesting ideas like leasing of cars etc but high risk and liabilities
That's why no start up or little entry to this.

My idea would be to trial on pre -own first, not brand new
Using pre-owned targeting on pre own sales as well as lease.
That will be the initial segment and branch out further on other areas
Cost must be negligible so as to profit on the already low margin and factoring in the risk coverage

Last edited by evayang82; 15-06-2018 at 09:35 AM..
evayang82 is offline   Reply With Quote
Old 15-06-2018, 09:56 AM   #10
Supremacy Member
 
Kyo_kusanagi86's Avatar
 
Join Date: Mar 2001
Posts: 8,048
Hmm I got an idea but not sure will u take it.

Ask for full price of the watch as deposit i.e Rolex 11k then ask for deposit of 11k. Negotiate the rates first. Let's say if $100/day, rent 1 day, after 1 day return him 11k-$100

If drop or what, you give option to take the full deposit and he gets that watch, Or deduct repair cost from the deposit
To be honest, if the biz plan is as per above, I wont be interested at all. Lolx, if I wanna rent the submariner , I got to withdraw $10k first to loan it? what about patek then? (HDB on the line?) too troublesome and too much cost involved liao for a small leisure enjoyment.
__________________
Aftershock Titan v2.1- 3Dmark Fire Strike 13048,Ice Storm 131029,Sky Diver 28694, Cloud Gate 25232
Kyo_kusanagi86 is offline   Reply With Quote
Old 15-06-2018, 10:00 AM   #11
Supremacy Member
 
Kyo_kusanagi86's Avatar
 
Join Date: Mar 2001
Posts: 8,048
Interesting ideas like leasing of cars etc but high risk and liabilities
That's why no start up or little entry to this.

My idea would be to trial on pre -own first, not brand new
Using pre-owned targeting on pre own sales as well as lease.
That will be the initial segment and branch out further on other areas
Cost must be negligible so as to profit on the already low margin and factoring in the risk coverage
Yes, I agree if rental rate is like Car, Daily rated $70-$100, sign some form and you drive away liao, anything else is claim insurance. No need make full 20-50k upfront payment just to drive away the car for 3days.
__________________
Aftershock Titan v2.1- 3Dmark Fire Strike 13048,Ice Storm 131029,Sky Diver 28694, Cloud Gate 25232
Kyo_kusanagi86 is offline   Reply With Quote
Old 15-06-2018, 10:48 AM   #12
Arch-Supremacy Member
 
Join Date: Apr 2006
Posts: 20,607
What is insurance cost to insure watches?
Watch too cheap like few K, have insurance company to insure?

Here I found home insurance, biz maybe cost higher?
https://www.sgrolexclub.com/forum/lifestyle-entertainment/kopi-talk/117448-watch-insurance

Last edited by patryn33; 15-06-2018 at 10:51 AM..
patryn33 is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On