My friend does some trades in watch market as he gets access to limited editions from time to time (if you know right people in dealerships you can sometimes buy a watch out of line if the original "subscribed" buyer doesn't show up). There are quite a few people who want to buy an expensive watch or two to show off on their social media. People just really like shiny status symbols.

Shady business, potentially, but you might be underestimating how much some guys really, really need to have the most expensive watch in their friend group.