Nov 12 2008

A frugal way to be fancy? Or not

Some of you may have heard of Bag, Borrow or Steal. You can rent designer handbags, jewelry and other accessories. Some items cost as little as $15 per week to rent. Others, you can expect to pay several hundred per week to use.

Personally, I don’t care so much about designer items. I’m just not that fancy. Unless a bag has its designer’s logo emblazoned across the front, I probably wouldn’t be able to tell you who made it. And in my humble opinion, some designer goods are kinda ugly.

As far as jewelry goes, I tend to be a minimalist. I’ll wear my wedding band and engagement ring, but that’s it on most days. Sometimes, I’ll put on a pair of earrings — maybe some pearl studs or silver hoops.

If I ever go to a super-formal black tie event, I don’t think I’d have appropriate jewelry to wear. If I was unable to borrow something from a friend, I might consider renting some earrings, perhaps.

For $222 per week (plus insurance!), you could rent 2 cts. worth of diamonds for your ears. These studs retail for $10k. Um. I don’t think I could rent anything that pricey. What if I lost one? That’s pretty expensive to replace.

How ’bout these studs from Tiffany & Co. for $159/week (retail $4,625). Lovely.

These earrings are nice, and are $50/week. About $1,500 retail value.

Then again, you could always go the CZ route and just buy a pair of cheaper earrings. Here’s some pretty drop earrings marked down to $69. Or some CZ studs marked down from $100 to $30.

Wearing real high-end jewelry or some other accessory might be fun once in awhile. I just think I’d be too worried about damaging it or losing it to really enjoy it. Plus, for the cost of renting something, I could just as easily buy a pretty piece of low-end jewelery.

Maybe a good alternative would be to swap accessories and jewelry with your best-dressed friends.

What do you think about the site? Would you use it?



9 Responses to “A frugal way to be fancy? Or not”

  1. Wow… that is such a cool idea! Like you, I don’t think I’d actually do it. I’m not that ‘frilly’! :)

    MrsMoney’s last blog post..Thank Goodness for Health Insurance!

  2. Oh my goodness, I would be terrified if I knew I was wearing $10,000 on my ears!

    I don’t know … I can’t imagine spending $200 in a week just to wear something fancy. I guess it depends on what you deem valuable, though. If wearing $10K earring is a lifelong dream, it might be worth it. Personally I can think of a million other things I’d rather do with $200 (or even $50, for that matter).

    Karen’s last blog post..Buying time between haircuts

  3. No, I wouldn’t rent jewelry or bags. There are many no name brand bags that look quite fabulous. I’d rather use those than rent. As for jewelry, I think the simpler the better. A pearl necklace is usually pretty sufficient for me.

  4. I wouldn’t in the normal course of events, but if I should happen to be invited to the Academy Awards or something I’d probably rent jewellery.

    A good solution for executives interested in building up a jewel collection that John Molloy (the Dress for Success guy) once proposed was that instead of buying a bunch of costume jewellery (either for yourself or your spouse) you should buy one good piece each year. Probably not $10k earrings, but maybe $1k ones. Buy one good watch instead of a bunch of fun ones, etc.

    Comment Luv doesn’t work for me anymore, but feel free to come check out my recent posts anyway.

  5. Wow, those earrings are pretty and such a great price! I’m not into jewelry and fashion or name brands either.

  6. I’m with you and the rest of the crowd – I have no interest in paying that much for that kind of thing. I agree that a lot of designer stuff is ugly!!!

  7. I guess if I cared about fashion that much I would try it. But I don’t. I wear my wedding rings and diamond studs (my last hurrah gift before having baby & quitting job) every day, and I’m happy with durable, well priced shoes and bags. And well priced to me usually means $75 or less (usually much less).

  8. I probably would, if I had that much disposable income, but there are a lot of bags I think are cute that I can never afford. I probably would never buy one though. Strange.

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Hey! I'm Kacie, wife to Shane and mother to Jonathan (7), Vivienne (5) and Amelia (2) . I write about my family's finance: how we save money, improve our spending, and plan for the future.

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