Rapper Jay-Z invests in high-end watch trading platform: Wristcheck

The investment

Hip-hop artist Shawn “Jay-Z” Carter has joined the roster of celebrity investors in the online watch market by acquiring an equity stake in the luxury watch trading platform Wristcheck. Carter is an avid collector of rare and valuable timepieces from brands like Patek Philippe, Audemars Piguet, and Richard Mille.

Yesterday it was made public that he took part in a recent $5 million funding round. Jay-Z’s investment comes after a controversial period for the pre-owned watch market, marked by a significant drop in second-hand watch values since April 2022. For many of us who have been paying attention to this market for years, this decline was somehow expected after the unreal price increase during the pandemic.

Wristcheck

Established in 2020 by watch collector and Instagram influencer-turned-CEO Austen Chu, Wristcheck caters to high-end timepiece buyers and sellers in Asia, offering authentication services to combat counterfeit goods.

To date, the company has raised approximately $13.6 million, with additional backing from the Alibaba Entrepreneurs Fund, Gobi Partners GBA, and K3 Ventures. Wristcheck charges sales fees ranging from 6% to 12%, depending on the transaction price and volume

Watch trading investors trends'

The rapper aligns himself with other celebrity watch trading investors such as football star Cristiano Ronaldo and F1 driver Charles Leclerc, who have invested in Chrono24 in recent years, the largest online watch-trading platform. Additionally, its US competitor Bezel counts Kevin Hart, John Legend, and J Balvin among its celebrity investors.