I had to check out this website again after all the hype. It is also the place that stocks Jennifer Hudson's shredded Chanel Bag in the SATC movie. I have to agree that the LV bag in the movie is seriously overpriced. It looks like something a child would carry. The Richard Prince "Jokes" collection may be edgy but its a work of art that you can display after use.
There are several other bag rental sites online. All of which do not hold the necessary appeal to the average Singaporean female. The cost of renting a bag for 3-6 months is equivalent to purchasing it brand new. Its the same thing with buying a 2nd-hand bag. You do not know what others have done with it. I think the Singaporean alternative to Bag Borrow or Steal is to buy a branded bag then sell it off to a 2nd-hand bag shop when you get tired of it. However, judging by the site's abundance of limited edition items, it will enjoy brisk business from the collectors out there. I tried asking for the "Steal" price on the LV watercolour speedy but was told I need to rent it first.