I don't need a watch much these days so I have a cheapo from Argos - it tells the time as accurately as any male jewellery costing 100 times as much.
I recognise that, like many things, there is the pride of ownership, the investment possibilities, and, of course, bragging rights.
Within a mile radius of my local pub there are probably as many multi-millionaires as there are in Birmingham. Many are very modest and unassuming about their wealth.
There was one guy, died recently from cancer, who was a Black Country boy who made his millions from hard work and deserved ever penny. He was always keen to tell us what he had just bought and how good it was - latest Rolls Royce, Bentley, Range Rover, a personal protection dog that cost £15,000 and so on.
One day he came in with the latest gold Rolex and told everyone about it. Within minutes he was being asked what the time was on this gold Rolex and people then nodded and said " Yeah, my Casio, Timex, whatever says the same".
He was a good bloke.