So you’re saying it adds something? You get a watch that tells the time and you get positive intangible feelings associated with the watches due to a personal appreciation for history/mechanical devices/design? Sounds like a win-win. I agree with your statements, but you’re saying it like these are bad things and I’m saying they’re positive. Whether these intangible feelings are worth the extra cost is up to the buyer.

Saying luxury watches have no utility beyond that provided by a quartz watch admits that luxury watches provide utility. Watch enthusiasts will generally appreciate watches for a variety of reasons all while getting utility from the watches.