Such analysis always presupposes an anthropology (and a psychology) and a metaphysics. Without at least a good, sound intuition of these, you are bound to fall into all sorts of traps. Materialism will move you toward reductionism, pseudo-mysticism will move you toward reification or projection, and so on.
So, when we talk about the real and imagined value of a watch, we can consider it from different angles. You cannot pick one (like the first) and reduce all value judgements to just that measure.
1. the utility of a watch as a timekeeping artifact
2. the aesthetic quality as a work of art
3. the quality as ornament/jewelry
4. the effectiveness as signal of wealth
5. the quality as a particular kind of technology (mechanical vs. quartz), perhaps as an expression of historical techniques
The aim and measure are critical.
The trouble, then, is not that Patek is bad. A nice Patek watch is of excellent quality as (2), (3), and (5). As (1), for everyday use, yes; along an absolute axis concerned only with accuracy and precision, not so much. (4) is where the pathological and deceptive begins to creep. Where the market price with respect to (1), (2), (3), and (5) would reflect a just price, (4) becomes a race to the bottom of the most vulgar and base and irrational sort.
So, when we talk about the real and imagined value of a watch, we can consider it from different angles. You cannot pick one (like the first) and reduce all value judgements to just that measure.
1. the utility of a watch as a timekeeping artifact
2. the aesthetic quality as a work of art
3. the quality as ornament/jewelry
4. the effectiveness as signal of wealth
5. the quality as a particular kind of technology (mechanical vs. quartz), perhaps as an expression of historical techniques
The aim and measure are critical.
The trouble, then, is not that Patek is bad. A nice Patek watch is of excellent quality as (2), (3), and (5). As (1), for everyday use, yes; along an absolute axis concerned only with accuracy and precision, not so much. (4) is where the pathological and deceptive begins to creep. Where the market price with respect to (1), (2), (3), and (5) would reflect a just price, (4) becomes a race to the bottom of the most vulgar and base and irrational sort.