I can't knock anyone for spending thousands on a watch, although I've never spent more than a few hundred for one.
I love premium quality and could never knock another man for endulging in high-priced pieces, as I simply gather my premium price-tagged possessions in other arenas. I can sure admire a high-end watch though.
I strive to earn a good living and can only respect another that earns the funds to enable him to afford nice things as they earn their own money through honest means.
However, never blow money that you don't truly have to blow. Deny yourself that gratification until you get there. Once you get there you can reward yourself, and truly afford it.