I don’t think it’s just about paying for the name, there is no doubt the luxury name tax. But there is genuine craftsmanship gone into making of expensive watches. I’m not going to go into a huge lecture here, but for me personally I’ll only wear certain brands and only those watches that I find interesting.
I do get the point you’re making though. Again for me personally I’d have no issue with buying a Timex for £600 if it was interesting enough. But £600 would put it up against other watches that at least for me would be my preference.
I have a fairly large collection of watches, I am just as happy with a really nice £150 watch as I am with my much more expensive watches.