It all started with the Hodinkee and Ming limited editions; flash-fast offerings of limited runs that people have to clamber over each other for, and pay whatever the retailer asks for, without having the opportunity to handle the product or view in person (at an AD or boutique). If you don’t partake, credit card in hand and with fast keyboard reflexes, you risk missing out on something that you’ll later see listed on chrono24 for multiples of the original MSRP, and read all the raving owner reviews on forums/YouTube.
In one word/acronym: FOMO-fueled decisions