I never understood people who felt the need to spend that kind of money on a watch,or any piece of jewelry for that matter. It is such a waste,and so many other "action" oriented things of good can be done instead of such an extreme example of gluttony.
I like nice, well made products, made from good materials and well assembled, so I have no problem paying up to a few g's for a good
quality NICE watch, but you get to a price point where you're an idiot and just paying for the 'name' and to look like you have money..
For instance a nice Tissot, Omega or Breitling are amazing watches, with superb function and will last generations (you can pass it down to your son for instance) but spending $5,000+ on a rolex is just idiotic.