Would You Rent A $50,000 Watch?

Do you have lots of disposable income, a love of fine timepieces, and a tendency to get bored with the things that you buy within a few months, no matter how pricey they are? Maybe watch-rental startup Eleven James is for you. It’s a company that lends out fine wristwatches like they’re Netflix DVDs.

The startup went into business last year, but we learned about it just today from a CNBC story (warning: auto-play video) about the company. Apparently, it is attracting actual customers. Memberships start at $250 a month: much like the DVD-mailing end of Netflix, customers pay more according to how many watches they want to use at any given time.

How do you choose the watch that’s right for you? “Our Concierge will develop a personalized watch profile based on your preferences and lifestyle to ensure every timepiece you receive exceeds your expectations,” explains the company’s site. “Internet watch-rental concierge” was not a Career Day option when I was in high school.

Company founder Randy Brandoff says that this model fits in with the lifestyle of his customers, who don’t want to buy something that will just depreciate in value as they get bored with it. “The first six months after they buy a watch, they love it. The second six months, they don’t love it as much. And by the third six months, it gets put on the pile and replaced by one or numerous others.”

Rent-a-Rolex? Luxe watches go timeshare [CNBC] (Warning: auto-play video)