What's on your wrist? Here's Wristcheck. This Hong Kong-founded luxury watch marketplace just raised $8M as their first round of funding — and they're heading to you soon!

• Founded in 2020, they have online platforms and an offline physical store and a community of over 80,000 members who join their events.
• Young money. 43% of their paying customers were below 30.

Investor check. The round was led by led by Gobi Partners' Alibaba Entrepreneurs Fund Greater Bay Area Fund. Singapore VC firm K3 Ventures also joined in!

‍

⌚️ Looking for a watch?

It's about time. They've got brand-new and pre-owned watches! Plus, you can see the watch's selling price and whether it still comes with the original box and/or papers.

• Place a bidding price for the watch you want.
• Don't worry! Whether the watch comes with the box or papers, their experts and partners ensure it's authentic.

Can't find what you're looking for? Let them know, and they'll source a brand-new watch in 72 hours (with no extra fees).

‍

🤩 Selling a watch?

Send over some details, and they'll give you an initial price quotation on your watch. If you like the price, just send them the watch.

If your watch passes their checks, you'll get a list price for your watch. If you agree with the price, they'll professionally photograph your watch, keep it for you, and list it on their marketplace. Once your watch is sold, they'll wire over the $$$ within 48 hours!

• Stay anonymous, sell without the hassle and get paid fast.

‍

🎥 Building on social and content

They're active on social channels like Instagram and Youtube.

• They produce content like chats with personalities like the CEO of Audemars Piguet (AP) and George Bamford, as well as video collaborations with AP and Louis Vuitton.

Oh, and their website has articles for everyone from beginners to long-time watch buyers — buying guides, market checks, watch 101 and new watch drops.

‍

💯 No low-balling or rip-offs

Wristcheck doesn't buy the watch upfront but is a consignment platform (sort of a middleman) that doesn't charge inventory costs.

• No low-balling or rip-offs. All they ask for is 8% from the seller and 4% from the buyer!
• Alternatives like auction houses are crazy expensive — charging up to 26% for buyers and 12% for sellers in fees

While many sellers buy low and sell high, Wristcheck prices watches for sale at fair prices based on market conditions.

‍

✈️ Watch out, SEA!

Once market conditions improve, they're keen to move into key markets in Asia like SEA and China. Also, they're also looking to develop their web platform, and their mobile app is set to be launched in Q2 this year!

• They are also looking to develop an AI tool to authenticate watches through photos uploaded by sellers, as well as an engine that retrieves real-time and historical watch price data.