I don't collect, but I do 'get it'. I had a Swatch for a while, but they cannot be serviced, so when the stopwatch ceased to zero itself, it had to go in the bin, which seemed crazy for something that looked so nice.
To replace it, I pushed the boat out and got the classic Omega Moonwatch. I then picked up an 80s Seiko diver for scrapping about in and swimming etc. (Moonwatch has all the water resistance of a lace thong). That would never keep time so well (especially if it was exposed to a pressure drop like on a plane), and nobody seemed to want to service it. So I popped it in a drawer and found the boat pole again ... Omega Planet Ocean.
Mrs doctornige got herself a really hard-to-find automatic Cartier Santos.
The problem with high end mechanical watches is the same as with high end bikes ... The servicing cost on a Moonwatch is £350 and it needs it every four or so years. The Cartier is currently with the Basel outlet awaiting a quote for the same.
But, I get it. I like a nice watch - they are an interesting harmonization of technology, utility, style and bling. Men don't wear much jewellery, and a nice watch is a nifty thing to have.