Chronohunter is a reverse auction site for luxury watches launched by two British entrepreneurs Sam Rayner and Max Nordigian in 2017.
The idea is simple: customers looking for pre-owned or new watches on the secondary market tell Chronohunter precisely what they are looking for and the site puts that request out to tender with a network of dealers.
For example, a customer wants a new, unworn Rolex Hulk with box and papers. He completes a form on Chronohunter.com and is then contacted by the team to make sure the inquiry is genuine and the customer knows the sort of offers he is likely to get.
These pre-qualified leads are then sent out to the dealer network, which then effectively offer sealed bids for the business. In our example, the customer may go for the lowest price or choose a nearby dealer so they can go and try on the watch. If the customer is happy, the watch is sold and Chronohunter gets a cut.
The process works in reverse as well because customers can sell watches to the same dealer network, which in this case make sealed offers to buy.