Sure, if I only had 100K cash it would be stupid to buy a 100K watch. Since I don’t have 100K cash it’s not even a question. The fact is that there are many watches in the 100K+ range and that the watches i’m looking at are in fact “entry level” fine watches.
I already own a house and am on my way to owning another. The money I spend on random expensive purchases is bonus money, I don’t factor it into my yearly income. I happen to have a job where bonus’ are frequent and substantial.
Honestly buying a high end watch is probably the smartest “waste” of money out there, much smarter than buying a car.
It doesn’t get much cleaner or simpler than the Panerai