Of course, the price helps pay for the manufacturer's marketing and overhead and other costs associated with being a "brand." However, watches can cost tens or hundreds of thousands depending on the complexity (and of course rarity). Ultra expensive watches don't just tell the time. They have various complications - perpetual calendar, minute repeater, tourbillon, chronograph, etc. Are these functions really necessary? No, not really. Are they cool? Well, mechanical beauty is in the eye of the beholder. One thing is for sure - they usually take years of R&D development, and the ultra complex time pieces can take one watchmaker months to put together. So - there's your high price.