Buy only because you like it, not because it is cheap. You will have lot of choices at 8-10k range like Omega, Longines, ML, B&R, B&M, etc. Don't forget to chheck out Omega Moonwatch, the most affordable classic!
Guess 99.99% of us lose money in this hobby, it is only a metter of how much is the actual loss. As long as you like it, you will enjoy owning and looking at it. Then the loss is nothing, just a small price for the enjoyment.