I don't understand where people are saying Rolex watches aren't accurate. If kept properly maintained and properly wound, they will indeed meet or exceed COSC standards as chronometers. They are after all self winding mechanical watches and their timekeeping directly depends on the fastidiousness of the person wearing them.
http://en.wikipedia.org/wiki/COSC
I went through a nice watch phase a few years back. For me, nice meant upper end Seiko's and Citizens. As I always do when I get interested in something new, I find the Forums and start learning...
I couldn't get over the number of people that bitch because a watch is 1/10,000 of a second of in a month. I made those numbers up, but the point is that people were complaining about something that really doesn't matter. Not at that extreme... Who needs a watch that keeps better time ? It's a little ridiculous.
I guess for people that are really into the precision aspect of the watches, maybe it is another measurement of quality. I don't know, and it really doesn't matter because I will never pay 5 - $10,000 for a watch. Even for watches that lose 2 seconds a month, is that really a big deal ? IMO that goes beyond being anal...
Again, I'm not criticizing people that buy these watches. We all have our different interests, and it is your/their money.
My current watch is a Timex diver. It looks very similar to a Submariner. I know it isn't , and I'm ok with that. I bought it at the WallyMart about 5 years ago and paid a whopping $48 for it... I am hard on my watches. I put the thing on when I get up, and take it off when I get home. It gets banged around on things a lot.
Not intentionally, but it happens. After 5 years of use, it still looks great when I clean it up. No big scratches, and it is still sealed and doesn't leak, and still has the original battery.
I do need to have a watch that keeps decent time, because one aspect of my job is time sensitive. So, about once a month I will check the time on my watch and set it to the time on my phone. There are many times I don't have to adjust it, but once in awhile I will have to change it 2-3 minutes. Usually the only time I have to change it is, if I forgot and didn't check it for 1 1/2 - 2 months. So I guess by those really into watches, that isn't bad for a $48 watch.
Sure the materials in my watch aren't the same quality, but for me it works fine. I appreciate quality things, and am a stickler for detail in everything, but I still have no desire to spend a pile of money on a really nice watch. It doesn't mean in 5 years I won't change my mind though.