You can now rent a Rolex for a fraction of its actual price

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Can’t afford a Rolex? Several companies are now giving you the opportunity to rent luxury watches for a fraction of the purchase price.

Eleven James, Haute Vault, Clerkenwell and Axess Chronos charge a membership price for designer jewelry, offering brands like Arnold and Son, Audemars Piguet, Breguet and Patek Philippe as well as valuable vintage watches.

Prices range from as low as $169-a-month, to as high as $899-a-month on Eleven James, depending on what kind of membership and merchandise you’re looking for.

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These companies are not the first to rent fancy items. Rent the Runway started the trend in 2009, allowing women to flaunt gorgeous designer pieces for a fraction of the purchase price.

The services aren’t free, but they are significantly cheaper than purchasing your own Rolex or designer gown for tens of thousands of dollars. And this way, you can switch it up depending on your mood that month. [GQ]