Mine was a wedding gift to myself. I didn't have upfront capital to pay it off in one go but knew with interest free credit (I actually got a interest free credit card instead so I could get the AD to discount the watch) that I could afford the repayments. If I couldn't have afforded to buy it responsibly I wouldn't have.
For me, I'm not really bothered what other people see/say about what I wear, I like to know that I've worked hard, bought something well made and I appreciate. I'd rather buy one (for example) Paul Smith t-shirt for £40 than 8 Primark t-shirts for £5 each and that is purely personal preference, each to their own and all that.