I do understand what you mean 100%.
going by what you said, a watch tells time, no matter $5 or $5000 a a very basic function, let's look at the very basic function of:
a house:
to have a safe and secure shelter from the outside elements, with the ability to live, eat and sleep in it as it most basic functional element!
a $5000 trailer home and a $500000 house both fulfill this basic function...they difference being, HOW MUCH of a safe, secure, and luxury level of house you want from that point forward.
a car:
a transportation vehicle which helps one get from point A to point B as the most basic and elemental finction of a car.
a $250 geo prism (in running condition
)and a $250K Lambo Murcielago both satisfy the most basic function of a car. past that, the simiiarities b/w the 2 probably come to an end. then it is a matter of personal preference how fast u want to go from A to B, and in what level of luxury, style, speed, reliability, comfort, aesthetic appeal, safety, ... and one will pay accordingly for their desires.
a watch:
basic function to tell time.
beyond that, you start paying for reliability, longevity of the watch (will it only last 6 months ($15 watch) or the lifetime of 3 generations in your family ($18000 watch)), added functions (stopwatch, date/calender, dual time zones, ...), quality (plastic/rubber vs. gold/platinum/stainless steel), aesthetic appeal (rubber vs. jewels), accuracy of the time (needs adjustment monthly, or one in your lifetime), ... and the more you want. the more you'll pay....
I hope this somewhat sheds light into how I think on the matter.
I am not trying in any way impose my opinon or anyone, just want to express it.