Watch Leasing? Why not!

Joseph Lam, founder of Parcel Pro and previous owner of TimeZone, has launched First Watch Leasing, Inc. the world's first fine timepiece leasing operation. 

I know this project has been underway for some time and that the hurdles that needed to be overcome to bring it to fruition were sizable.  Joseph's contacts and experience in the insurance and risk management business (Parcel Pro) undoubtedly played a critical role in providing the necessary assurances for his funding sources to feel comfortable advancing money (up to $100,000) secured by very portable fine Swiss collateral.

The program is very new, but already some heavy hitters in the retail watch business have signed on.  Among the more notable are Armstrong Rockwell of Connecticut, LaViano of New Jersey, and Hing Wa Lee of California.  Since you'll be dealing with an Authorized Dealer, the manufacturers warranty applies.  Did I mention the free loaner watch if and when repairs are necessary?   

The process is very straightforward.  Visit the website, get approved in a few seconds, locate a dealer, pick out a watch (not all brands qualify but there's Lange, Rolex, AP, Patek, Blancpain, JLC, IWC, etc.), pony up a small down payment, sign on the dotted line, and enjoy!  Of course there's the matter of the monthly lease payment, but you'll preserve a lot of cash, keep your credit lines intact, and there may even be a tax benefit (creative accounting required).

At the end of your lease, you'll have the option of keeping the watch (and paying the balance) or turning it in and moving on to a sleek and sexy new model.  In this respect, it's much like a car lease.  The good part about leasing a watch though is that there isn't an odometer so you can enjoy unlimited 'miles' while she's part of your collection.

Maybe the best part of this whole program is that the next time your wife or husband asks 'Honey.... did you buy ANOTHER watch?', you'll be able to say 'NO' and be telling the truth!  Priceless!

Best wishes and much success to Joseph and his team at  First Watch Leasing.