I have a friend who is a bit of a watch collecter and amateur expert. He showed me the Vacheron Constantin watch he was wearing the other day.
It's the oldest surviving watch company in the world. Est. 1755. They make unostentatious fine watches, or "timepieces" as watch snobs term them. You have to wind them every morning which, if I understand it right, all very fine watches require.
I am a Timex guy - a watch I wear routinely needs to take plenty of abuse and needs to be disposable - but I have a couple of somewhat fancier watches which I rarely use. Consumption is not one of my hobbies (I don't own a lot, but I have enough of everything), but I can appreciate fine hand-made things.
My friend tells me that Obama wears a flashy and expensive IWC, assembled from innards made by other companies. "Typical Obama," said he.
Photo is a Vacheron Constantin Jubilee.