This already two-year-old startup is called Eleven James. It makes luxury watches accessible for almost everyone. Ex NetJet executive Randy Brandoff devised a formula, inspired by the beginning of Netflix. Netflix sent the DVDs by mail. Brandoff does exactly the same with the most luxurious watches and your possible new Rolex.
How it works
After when you have created a profile and chose a membership, Eleven James will contact you. Within two days you will receive your first “rented watch ‘you can wear the next three to six months. If you send it back you will receive a new one. Simple as that.
There are different types of memberships, starting at $ 150 – to $ 800, – per month. The higher the monthly fee, the more exclusive and expensive watches you get. The name James Eleven is derived from the ‘prototype’ Eleven member James: James Bond, the spy who is always equipped with gadgets.
Brandoff got the idea when he held an executive position at NetJets. Here was Brandoff surrounded by wealthy clients who all shared the same passion: luxury watches. Brandoff’s taste in watches was so wide that even he did not have the budget to afford all the watches he wanted. This idea continued to haunt the head of Brandoff, he left NetJetx and Eleven James was born.
Eleven James ‘rents’ only high-segment watches. Think of mechanical watches, both new and vintage. For the enthusiast. Eleven of the James collection consists of more than “eight zeros. The leading luxury brands within this collection; new Rolex, Patek Philippe, Audemars Piguet, IWC, Tag Heuer, Tudor and Breitling.
Ultimately, each watch will be permanently seated on the wrist of a member. When a member returning the rented watch on time in good condition he will earn points which eventually can be exchanged for a watch.
Since the company was founded in 2014, the number of members rose. In the next five years, the company will have thousands of members. In September 2015 the company raised $ 6.72 million in an investment round. The start-up already has 23 full-time employees.
Eleven James does a check and screen before you can be a member. 10% of applications are rejected. In addition, the service works with a point system and customers are required to follow an insurance plan. Because of those ‘safeguards’ Brandoff has no worry that watches will be damaged or not returned.
A new Rolex?
An innovative concept in a fairly conservative branch. The service lets you wear a new Rolex and watches that were inadequate before. However, Eleven James makes sure that you do not accrue a nice collection.