On this latest edition of “Why is this a thing?”, we have Swatch stores shutting down for several days in the UK because of pocket watches.

According to the BBC, huge crowds of people have been gathering outside of these Swatch stores in an attempt to obtain the new AP x Swatch Royal Pop Collection. As of writing, Swatch have closed their stores for several days in an attempt to stop this, and issued a statement on their website:

“we kindly ask you not to rush to our stores in large numbers to acquire this product”

So what’s the idea? Bragging rights, or instant resale on the second-hand market? Completed listings on sites like eBay show the pocket watch selling for as much as 10 times its original value of £335-£350.

We’ve seen this before in varying degrees:

• PS5
• Prime drinks
• Stanley cups
• Labubu
• Practically anything Disney (seen first hand!)
• The next Pokémon Card collection

The weird thing is that this all becomes a feedback loop, where it no longer becomes about what value the product can bring, but what value is perceived:

1. Item gets hyped on the internet
2. People queue because it might sell out
3. It sells out because people queue
4. People go to extremes to obtain
5. It gets listed for silly money
6. The silly money makes the item look more valuable
7. Go back to 1

Collecting can be a super fun hobby, and I would never criticise anyone for doing it, but when the actual product no longer matters, it’s all speculation. Sometimes this can even be compounded by making the thing a mystery, such as with mystery or blind boxes, but that’s a whole other topic.

The solution? Do nothing. Sit back and wait, buy the thing when it’s no longer a hype icon, and watch as it’s true value is revealed.

(The irony is also not lost here, in that me posting about this feeds the loop)