Is it rude to not let someone have something I dont use?

I let this guy use my apple watch two times. He had one of the older versions while I had one of the new ones. He broke his somehow and asked to use mine temporarily. I let him use it cause he has a good paying job and im thinking he'll give it back with ease. But each time i asked for it back he told me he still needed to use it and complained that i dont even use it and that I should just give it to him. It took me weeks to get it back and I had to show up to his workplace to get it. It does sit on my dresser not being used. I use it sometimes but not as much as he does, he used it everyday 24/7. I bought it for myself with my own money. He thought i would let him have it since i don't use it but i dont want him to because he does nothing for me.

Is it rude to not let someone have something I dont use?
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