Chu shared with CNBC Make It about how he turned a hobby into a money-making business.When it comes to starting a successful business, Chu's philosophy is simple: Start a business to solve a problem, he said."The business model of the traditional secondhand watch market is very … normally it's 'buy low, sell high,'" Chu explained, adding that sellers were usually getting the short end of the stick.
In 2021, Wristcheck opened its first flagship store in Hong Kong — where consumers can have access to a curated range of pre-owned watches.his peers. For one, transaction fees are lower. Auction houses typically charge 26% from a buyer up to 12% from the seller, he said. That's how Chu describes his infatuation for watches, which started when he was a child — and only got deeper in his teens.