A quartz watch will keep much better time than a mechanical, so for the most accurate time get a casio or timex, or even many of the seikos. For a watch that is built and engineered like a Porsche get a mechanical watch. It's more about the idea and function than the accuracy or price really.
I have a $900 watch that is a true 24 hour watch, the numbers go from 1-24 and the hour hand goes around once a day. It's a nice watch that will be around a long time. I don't like giant plastic watches or digital watches, and if I get a watch with a body that's made from pot metal the sweat/oils from my skin eventually etch the plating off of the outside and start to eat through the case (cool, huh
). That mostly rules out timex and casio watches. I just don't like the looks of many of the cheaper watches. So many are like modern cars, scoops and vents that don't actually do anything or are unnecessary, but added just to be cool. I like Seiko's, I think they are a quality watch. I may have one some day. I also would eventually like a Rolex GMT, but it'll be a while before I spend a few grand on a watch.
My next will probably actually be an Ollech & Wajs for about $300 that I will wear when mowing the lawn, working in the back yard, etc... It'll be my tool watch.
I know that I could just get a new timex once a year for several years for less money, but again, it's more about what's inside the watch.
It's a lot like the guys that would choose a 911 motor over a small block chevy just because of the OHC instead of the pushrods. They both get the job done really well and the chevy is much cheaper, but lots and lots of guys here wouldn't even consider the chevy.