It is hilarious to see posters on a Porsche BBS make statements about how idiots only have expensive watches to impress others.
I appreciate the design and craftsmanship of fine mechanical watches. There is no other item in the world where you can carry around such mechanical wonders in such a small package. Fine watches combine the engineering, artistic skill and master-craftsmanship combination that Leonardo di Vinci represented in man.
While I have not been drawn to any Rolexes since the 1950's, they do represent great quality (except in their lowest priced mechanicals). I prefer Patek Philippe, Omega, Breguet, F.P. Journe, Vacheron Constantin and Jaeger-LeCoultre far more.
Being able to tell the time is not the facile princeps reason to own a fine watch.