Borrow or steal, it's still a rip-off

Couture Critic

By: Lindsay Turner

Posted: 3/28/07

Eavesdropping on gossip-filled conversations can sometimes end badly, but other times it can be very enlightening.

A few months ago, I was sitting in class when I learned of a Web site for a handbag and jewelry rental service. Before looking into it, I imagined it was a pretty good idea for young fashion lovers like me who couldn't afford their longtime coveted Chanel Classic 2.55 quilted bag.

With a membership, which includes a fee starting at $5 a month, users could keep up with the latest trends by switching purses monthly or weekly and look as though they had the money to buy a new $1,400 purse anytime they had a whim. "Keep your bag or gem for as long as you like - a week, a month or longer - then exchange it for something new," according to the site. The people these members would be trying to impress wouldn't know the "owners" were renting the purses.

Sounds like a cool plan. The New York Times even called this service "a Netflix for bags."

Being more than curious, I checked out the Web site.

BagBorrowOrSteal.com offers more than 90 designer brands, which members or guests of the site can rent for a weekly or monthly fee. For instance, the bag of my dreams, Chanel's 2.55 purse, costs $95 a week or $175 a month for members of the site and $120 a week or $315 a month for nonmembers.

This is outrageous. The purse itself costs $1,600, very expensive by all standards. Unless you have been saving for it or have the income to afford it, it's wiser to purchase this classic couture than to rent one.

My reasoning is simple. If you were to rent this bag for let's say three months, because, come on, how often do you change purses unless you are specifically trying to match an outfit? As a member of the site, it would run you $525. That is about one-third of the price of the Chanel bag. If you have the money to rent that purse for three months, you should just save for a total of nine months and buy the bag outright. Otherwise, you are going to waste a horrendous amount of cash.

Members and guests of the site can also enjoy the use of designer jewelry through this rental service. For instance, Gucci's quartz and gold horse bit ring, which can been seen on the hands of celebs and socialites, can be rented at an even loftier price than the handbags. As a member, this ring can be rented for $195 a week or $595 a month. If you're just visiting the site, renting this ring will cost you $225 a week or $635 a month, and there aren't even any diamonds on it! The ring sells for $2,295. Again, if you can afford to rent this ring, you might as well just buy it from the nearest Neiman Marcus.

Of course, there are some cheaper rentals on the site including semi- and non-designer handbags and jewelry. Again, this is no steal, but it's a little closer. A BCBG Max Azria signature hobo runs for about $400 at the boutique, but as a member of this Web site, you can rent it for $13 a week or $40 a month or for $30 a week or $60 a month if you are a guest. If you only use it four months, that is an OK deal. But, if you just have to have it, save and buy it. Other lower-priced designer gear like Juicy Couture, Kate Spade, Coach, Mulberry, Rafe New York, etc., are also available for lower rates. The only problem is that these purses are not so exciting that you feel so compelled to rent them. If you need an expensive bag to impress your peers or to fit an occasion, stick with the purse pros - Louis Vuitton, Gucci, Christian Dior, Chanel and Chloe.

Unfortunately, for most of us, this site won't do much - if any - good for our pocketbooks. This site is a rip-off and can only really appeal to those who need to look couture for one expensive evening or week.