I actually quite like this name as a chess domain. The king being the most important piece and the king being on a throne, so to speak. So it makes sense.
To a reseller, I agree its worth reg fee. Finding an end user is going to be pretty tough, although Chess is a big keyword with over 1.5million searches a month.
Development is probably the key, maybe an informational site to start with putting details of the current and past chess champions.
Anyway, good luck with the domain
incidentally, chesschampions.com is currently forsale for just under $3k
i agree with holyroller. being a active chessplayer myself i quite like the domain but its gonna be tough to find an enduser. development is key indeed.