It is hard to explain but a fine watch is a piece of art that is usable, sort of like high end cars etc. It is not just about the function it is about the form. Why have a real Picasso when you can buy hundreds of thousands of prints of the same painting or maybe something some starving artist does... They are not for everyone.
Most cheap quartz watches will keep significantly better time than high end COSC (certified chronometer) mechanical watches, but time keeping is not entirely the point here! Most quartz watches will be more durable.
As for status symbol, if that is the motivating factor, some food for thought (no judgement on the good or bad of the points, just how I and many others see them).
-Some people will look at your watch as a symbol of your status in society, but of course the watch is just one of the symbols (as other noted, shoes, clothes, car, etc.). A fine watch, with other things, also displays that you are in the "club" so to speak (whatever 1%er or secret club that is...). If you appear to have money good or bad you are treated differently in life.
-What I will do, if I know a client is a Rolex man or an Omega man, I will wear the same brand to the meeting. It is an in, short and simple.
-I have made some fantastic friends and business contacts just by being in the fine watch circles. The same can be said for other luxury items (cars, cigars, boats).
-They can be fixed. I have a 1971 Rolex and a 1969 Omega, no problems getting them repaired, no problems getting replacement parts. This is not the case with cheaper watches.
-Most people can buy a Rolex (just using Rolex as one of many possible examples) BUT how many can afford one (buying and affording are two different things)? Being able to afford one means you are not preoccupied with its well being because it is not a lot of money to you (for what it is). Someone who cannot afford something will be totally preoccupied about damaging it because in the end it was a lot of money to them. This usually shows BTW. Goes for any expensive item (clothes, car, etc.). As a parallel example, a friend bought a new BMW many years back, he could buy it (saved up) but not afford it...everywhere we went all he could think about is where he parked the car, what was happening to the car, what kind of soap he used on the car, etc... he simply could not afford that car. No saying smashing the damn watches, but not being totally preoccupied that it will get scratched (actually wearing it for diving, sport, etc.). There are also costs to maintain them...
-Buying a fake watch, it may fool most people, the copies are getting very good I must admit. They are getting so good they are becoming an issue for collectors. If it is a common model usually another owner will be able to spot it, there are usually giveaways. If it is spotted as a fake (or if you admit it) you will be judged... as an example I killed a multimillion dollar deal a few years back, deciding factor, the sales guy was wearing a fake Omega Seamaster Pro (I have the real one). The other almost near equal (very close) vendor was not... If we was wearing a Casio he would have gotten the deal and near a hundred grand in commission, maybe use that to buy the real one (BTW about six months later he was unemployed due to the lost deal). Short of it is, fake watch = greasy, what else is greasy about the deal? How can you trust someone who is trying to pull a fast one about his (or her) status? There are many nice respectable watches for the price of a good fake, why try to pretend you are not what you are, you do not need a fake to be someone.
