Yes it is! On the other hand, 100's of watches have gone through my hands in the last 25 years and my watch box is now worth a fair few £k's but has cost me nothing, it's a very cheap hobby if you know what you are doing. I now have a 10 watch box full and just a Casio solar G-shock for holidays and Seiko for work.
You can't go wrong with Seiko automatics, it pains me to see somebody wearing a garbage fashion watch like D&G, Gucci, Hilfiger etc That may have cost £300 but has an intrinsic value of tuppence, when they could get a very good Seiko for the same, a watch that will last them a lifetime. If I was skint I'd buy a Seiko 5 for £90 and be happy.
I recently bought a watch for my youngest son, I couldn't stand to look at his NEXT one any longer. I had a good look and settled on a Seiko SNZH blue version. It has the bullet proof 7S36 movement, day/date wheels, smooth bezel action, nice hands and indices, good lume and a bracelet that is........ok. I think I paid about £130 for it, nitpicking, the bracelet doesn't have solid end links and the crown is non-screw down. It is astonishing value.
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