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Watches are NOT like cars.
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Not entirely true imo.
In terms of value, the very tip top crust of cars are very much as you described. Not new/luxury cars, but vintage/rare cars (which I assume this watch is like, though I don't know because I know nothing about watches). I suppose you could say that of anything that is rare and widely desired, though.
In terms of "personal" reasons, I think they're identical (full scale, not just talking about the top crust). Your watch tells you if it's a leap year. A GT-R goes 0-60 in around 3 seconds. Neither is necessary at all, but both are cool and to varying levels depending on the person you ask.
Sure, a $50 watch would tell you the time and a $3k used Hyundai would get a person from Point A to Point B, but fuck that. That's not as cool as knowing if it's a leap year.