As one approaches premium brands the box and paper with a watch drive a premium. Without it I have seen some watches take as much as a 50% hit in the asking price. Question is I am not sure why.
Are they useful? Most don't read manuals, we shelve box and we wear the watch. From there they gather dust.
Weed out fakes? The papers can help validate the watch is genuine but when you spend thousands you still verify the watch, not the package, is real.
Resale? The box and papers will help keep the resale value intact...but buying a watch without box/papers was discounted to begin with and should change in % value like a complete package.
So in the end I see an authentic high end watch without papers a great deal and provides a lower and more accessible entry point to luxury brands....or am I missing the boat?