November 7, 2018

A private venue for professional watch dealers to trade

ChronoDAQ is a marketplace, like a stock/commodities exchange to allow watch dealers trade stock amongst each other. This already happens between traders' own personally built networks (one dealer cited a Whatsapp group) and is fragmented. These trades are used to source units and also offload niche items.

ChronoDAQ brings a centralised repository of data in a usable format and gives a read of the current state of the market. This brings more liquidity to the market and enables dealers accurately value their inventory along with being more confident when trading with retail customers and set competitive prices.

There is a chicken & egg situation as with all marketplaces and I am currently thinking of "single player" features to bring people. Current idea is a portfolio manager tool where dealers can track their stock, what they paid, sale/asking price and length on shelves etc.. this can slowly integrate with the exchange where users can later specify a "trade price".

I will integrate with an Escrow service for help clearing trades and employ "watch professionals" to mediate/referee disputes.

I will limit registrations to companies (LLC, LTD etc) who operate a bricks and mortar retail business.

My landing page:

Trivia: DAQ stands for Dealer Automated Quotes and why a lot of trading type platforms incorporate that into the name.

Be as honest and cruel as you like. Thanks.

  1. 1

    Not familiar with this market.

    The landing page looks great! If you add a favicon, then it will be even better.

    1. 1

      Thanks I just hacked one together with

  2. 1

    Do you know many professional watch dealers that you can use to seed the network? Probably an easier route than the toolbox since you'll still need to sell the toolbox.

    1. 1

      Good point but i'm not sure how many dealers will be required to get traction.

      I don't have an MVP yet but can build one.

      I am currently working through a list of dealers to gauge interest and signups for "launch" at the end of Q1 next year..

      1. 1

        Yeah its a bit tricky. I don't know anything about watch dealers. Are the networks local like a dating site or national/global?

        Maybe speak with as many dealers as you can about who they work with to see if you can find any hub dealers that have a lot of connections and pay them to start using your platform.

        1. 1

          The networks are sometimes local and also global. For example plain stainless steel watches can often be sourced easily from the Far East because consumers there have more of an affinity towards precious metals and stones and vice-versa I guess.

          I've spoken to a few dealers, some seem interested, others not and some of the decision makers are difficult to reach.

          At the moment this is bootstrapped so paying dealers is not an option. I guess I could incentivise early adopters with free trades for life.