I was thinking about the prices of some watches I was interested in and I came up with 3 :
1) Degree of craftsmanship. What I mean is the degree of hand polishing and decoration, whether of the markers, hands or behind in the displayed movement.
2) Complications in the movement.
3) Precious metals
Now I'll talk about a few brands as examples which are purely my perception. If I'm factually wrong, feel free to correct. I'm doing this thread just to get the view of others and help my own decision making by considering the 3 areas above and maybe more if others can chip in. With this hopefully I can strip away the more abstract criteria and focus on a more measurable assessment.
Patek & ALS - all of the above. In fact I understand ALS does not have one stainless steel model. Rolex, while the movements are tested and reliable, they don't really score in (1) and (2). In decoration of movements, they have no display case backs. Honestly, I see Rolex trying to price themselves higher with more emphasis on (3), which to me well.....anyone can do that. What about brands like Tag. Tag doesn't score heavily in all 3, and for that I appreciate their price points being in the middle range. Tag does sufficient in all 3 areas and hit the sweet spot very well, in my books. Panerai, now this fella to me is pushing hard at raising their prices, and sadly they aren't scoring in any of the above. Makes me think twice about spending $10k+ on say a PAM 305 (love the look of this watch!).
So, that's all I wanna say, please chime in. Don't start brand battles, reason out the broad criterial as the thread title says.