Things often seem to swing between extremes, like a pendulum. There is too little of something, it gets highlighted and emphasized, people react accordingly and the sum of all actions eventually results in having too much of that thing. When this new opposite extreme becomes known, the cycle reverses and we head back to the original extreme.
This happens with various aspects of the econonomy as we repeatedly go from boom to bust to boom. On a macro level it somehow seems to come down to a prevailing human desire to be like others and our propensity to "follow the crowd". When we see a situation go one way to an extreme, in the future we make an effort to work toward the opposite effect but so do many other people.
People saw the Snoopy rise in value soon after selling out, so they hoped to pounce on the next opportunity.
Best practice with watch buying is always to buy good quality pieces that you really like and intend to keep and enjoy in the long run, then you win whether the short term value goes up or down.
