Somehow 2021 was a year of wristwatches for me. I found watches interesting to me in Kickstarter, and backed 8 projects.
Kickstarter is not a retailer that sells things already made and ready to sell. It is a crowdfunding site for creators who have a project idea and means to create it, but need backers' money to realize the creation. By backing the project, backers pledge stated money, Kickstarter collects the money and transfers it to the creator, and the creator creates the project's promised outcome in stated timeline.
In case of wristwatch, a watchmaker present prototype wristwatch in the campaign, and ask for money to produce them in a larger scale. If you like the watch and accept some risk (scam, long waiting, delay, unproven quality control and customer service, etc), you pledge your money. Backers can get the product at a discounted price compared with future suggested retail price. You won't see a well-established brand, but may see something you like from a microbrand.
Here is the results so far.
Project delivered? on time? progress
#1 yes yes on time
#2 yes 3 months delay
#3 yes 1 month early (!!)
#4 no 2 months delay ongoing, shipment began
#5 yes yes on time
#6 no Dec delivery delay announced ongoing
#7 no no Oct delivery delayed, project encountering money transfer issue
#8 no yes/ongoing Promised delivery April 2022
So far I got 4 among 8. One (#8) seems to be ongoing on time. For 3 delayed projects (#4,6,7), I am not worrying about any of these. One (#4) is delayed, but I anticipate delivery in a few weeks. Delays are due to covid closures and resulting logistics and supply chain issues. It is 2021 and understandable.
For the project #7 that encountered bank money transfer issue (they seem to have triggered bank's fraud investigation), I am just reading their occasional updates. The creators had previous successful and completed projects. They kept sending honest updates and do not seem to be scammers. (if they were, the best way for scammers would be to just disappear.)
The project campaign was a successful one, gathering 922 backers and over 360k USD fund. But the success seems to be acting as double-edged sword now. With the sign of trouble and delay, about 10-20 backers among 922 got worked up and are vocal about calling the project a scam, although rocking the boat does not help anyone. It is just adding stress to creators. I feel sorry for the creators.
When a company go bankrupt, stakeholder's loss can be big. In such a case, people do get worked up. But this watch is like $400 for a backer. As this is unlikely to be a scam, I have no need to go crazy or lose sleep over it. I'd just trust and give more time for the creators and Kickstarter to sort things out. I still want the geeky-cool watch and am hoping they complete the project.
This watch fever was like once in a decade event. I doubt I'd spend more on watches for a while. I already have many enough watches for all occasions (art, sport/tool, casual/pop, business, solemn/formal, and party jewelry). I'll find something else for 2022.
