Absolutely. No doubt, there are some things that are qualitatively a cut above the rest--a nice Lemania movement or the Omega chronometer movements being two examples. And some cases have a finer finish, or made with more resilient lacquer, etc. But there's a point at which things are much of a muchness, and the cost is far more determined by taste and popularity than any intrinsic quality. You could get a Yema Yachtingraf for under $1000 year before last, and now they're well above three times that. Le Jours are climbing in value too (in part by association with Yema and Breitling), to the point that people will advertise ancillary makes as "
(LeJour)" or "made by LeJour." It's fascinating to see how much Hamiltons and Wittenauers went for just three years ago. More recognizable brands (e.g. Omega, Rolex) move out of reach, and drag the mid-level makes up in value as demand rises among the much larger group of people that can afford to spend $1000 but not $5000.
Don't get me wrong, I love my Ranchero to bits, but I only have it b/c it was a barn find. Is it x4 the watch that my Nivada CASD is? Hells no! I would _never_ pay the inflated market value for the former, ditto an SM300 (which is a perfectly good piece but has benefited obscenely from the current dive-watch craze), not when you could have a gorgeous tri-compax, a nice Speedie, an SM/Deville 321, a Lemania HS9, or any number of other, to my mind, more attractive, intricate, and interesting watches for the same amount (or less!). I don't fault the people who go for it, it's just not something I would do. Then again, lots of people outside the community think we're insane to pay the price of a used car for something that has less functionality than their $300 phone. Madness, like beauty, is in the eye of the beholder.
