I got asked; "The Question" again, how do you answer it?

[TheVTCGuy]

I am pretty sure we have all run in to this, at least in one form or another. I was talking with my co-worker at an event, he is a WIS and is really in to Paneri. Another co-worker, a very intelligent lady joins us and looks at both our watches; his Pan and my EX II. She very politely inquires how much we paid for them and a bit surprised, not being demeaning or condensending, then asks:

"What makes this watch worth X thousands of dollars?"

Understand she wasn't asking what I usually get,

"WHY would you pay so much for a WATCH?"

But rather a very reasonable straight forward question. Again, she was not judging why I spent so much on a timepiece, but why it costs what it does.

I fumbled through the answer, about the quality of it's components, that nice things cost money, yes, some of it was for the name, (like a Gucci handbag) but it was not an easy answer to come up with. The bottom line which I think sums it up was: "It was worth that to me" This is true, but it's a subjective answer, not objective.

Have you ever been asked that question? What makes a Rolex worth thousands of dollars? How do you answer?