Luxury goods are defined as "In general, a good (or service) that is not essential but makes life more enjoyable. Luxury goods are often more expensive and primarily purchased by people with more wealth and income. Using more precise, technical language, a luxury good exists if the income elasticity of demand is positive and greater than one. In other words, as people receive more income, they devote an increasingly larger share of income to the purchase of luxury goods."
Most brand like JLC, Patek, Rolex, Panerai are all over priced. But there are reasons why you pay more for these brands. The watch itself, the movement inside, the advances made in the case, movement and what ever else. It is the comfort you receive when you know when something goes wrong, there is a service center in your country that can sort you out. Even than, the quality of the people behind these service centers differs like heaven and hell, but I digress. Of course you also pay for the adverts, the need to have popular people wearing the brand, fight against counterfeit and a whole host of other things.
In my 20 + years of collecting watches, I have seen and noted that prices have gone up and up with little or no apparent reasons. With regards to one brand having better value as compared to others, let me tell you no. Most brands do not offer good or great value, no matter what you have been lead to believe. Retail prices and actual cost of the watches do not co-relate.
Just enjoy what you have, buy what you want and can afford. Watch companies will price a watch at what ever price they believe they can get away with and trust me, most of the time, they do.