Calling them like you see them is not always the best way to judge luxury watches. These items often find themselves slotted into categories that do not appear to be one hundred percent accurate.  For example, a beautiful watch with a leather strap and a white face is a gold watch simply by having a small gold case around its body. In other examples a watch with just one diamond somewhere in its design might slide in right next to a completely iced out diamond encrusted watch in the diamond watches section. Is this fair?

For my money it is. The folks responsible for designing and making luxury watches do so in an educated way. They understand the style of these high end fashion accessories and make them according to stylistic guidelines that serve the watch. This means that the choice to only put one or a few diamonds is just that, an important decision. What makes diamond watches special is the way the diamonds are used, not necessarily how many diamonds there are. Looking into these accessories in terms of style will completely alter the way you value them. You are no longer valuing precious metals; you are valuing sharp design.