I think this article says it best, quoted :
"What it really boils down to is this: any wristwatch over US $200 is more jewelry than a timepiece."
.....
"The truth is that the value of jewelry is entirely emotional. Any penny spent over $200 on the price of a watch is buying you only more jewelry value and greater emotional satisfaction in having something more unique--nothing more."
Original URL :
http://chronocentric.com/watches/buyersguide.shtml
The author also explains why would I want a mechanical/automatic watch when quartz is more accurate.
Guess that gives all of us some relief.... Whewwww..... We are not crazy