What I understand is, Rolexes are status indicators, and retain their value very well, as do Omegas and those other historically established brands. People buy them and they sort of become family heirlooms. Then again, something can be said for taste, because a lot of rolexes out there are fucking ugly as hell.
I wear a Movado with a metal band and with a 1 karat diamond on the 12. I like that it's elegant and simple but I only wear it out when I go clubbing or to formal events. Otherwise the only thing I dangle on my wrists are ladies.