Emotional Premium and Cost Escalation in Fan-Sign Events: A Mechanism Study of Affective Valuation and Scarcity-Driven Pricing

K-pop fan-sign events monetise parasocial attachment by converting low-priced albums into access tokens for scarce, personalised interaction. Through the analysis of ENHYPEN's fan-sign event in Shanghai – "THE SIN: BLISS", the cost escalation process is explored. A combination of research about parasocial interaction, FOMO, fan identity, platformization, the official rules of the event and the structure of the case. The analysis results show that limited capacity, emotional attachment, platform visibility and uncertainty are the factors that move the consumers' attention from "value of the material" of the albums to "value of access". This change invalidates the price anchoring, supports the unofficial price and can stimulate re-consumption using social comparison. In the interim, fan-sign events can provide emotional gratification, a sense of community, album need and service innovation. To maintain these advantages and to reduce such damage, the study suggests that selection probabilities should be made more transparent, the verification process should be made more transparent, and that waiting lists should be officially maintained, limits should be put on campaign-level spending, and fan engagement should not be based on the number of purchases. These can assist entertainment businesses or platforms to maintain their people's confidence and help prevent over-investment and over-pricing, as well as fraud. The study offers a mechanism-based explanation of how the affective value is transfigured to monetary value in identity-bound fan experiences.