I kinda sorta see your guys' point about it being one of the "finest-engineered watches in the world" but I still fail to fully understand it.
I can see the logic in automobiles, as spending $70,000 on a car will undoubtedly get you a better-constructed, more reliable, faster, better-handling, smoother-riding car than $15K will get you. I can see that Spending $500K on a house will get you a lot more (and nicer usually) rooms than a $100K house, thus providing more space, comfort, etc. I can also see how spending $3K on a PC will absolutely get you a faster PC that will be more capable of running software for a longer amount of time in the forseeable future compared to a budget PC.
That being said, my $100(probably, it was a gift) Relic has run flawlessly for four years, looks nice with anything I wear, and tells me the time whenever I look at it. What does a Rolex do above and beyond that to justify $5-10K or more? I guess that's what I don't understand.
I still believe that there are only three types of Rolex(or any other luxury brand) wearers (not counting those who received/inherited one):
1. Those who want everyone to know they have money. (The "Bling-Blingers")
2. Those who need to own something that the majority of the population will never own, just because they can.
3. Those who fool themselves into believing that they really are getting a watch that is 100 times better than a $100 Relic (or any other quality, affordable brand). There's no way that a Rolex will last 100x longer than a normal watch, nor can it tell time 100x more accurate than a normal watch. ("But the second hand moves continuously on my watch! That must mean it is better!")
I will readily admit that if I had the disposable income to afford one I would definitely fall into category number 2 and get one just because I could. I wouldn't make excuses trying to justify why I spent more than someone's car on a watch, other than "because I can." That being said, I can respect those who can admit to being in category one or two, but anyone who falls into category three isn't fooling anyone but themselves that they really have the "best watch you can buy."
Now if the watch could sync, via satellite, with the Navy Atomic Clock then I might start to see the value.