Interesting topic. I put them on my credit card to get the reward points  and then pay it off completely the next day 
Now if we consider the alternative for argument sake, financing your watch, its not necessarily a bad thing. Depends on whats the opportunity cost of your cash that's laying around. In a perfect world (which we know doesn't exist) you can invest your cash wisely and it can generate a stream of monthly income which can pay for the watch over time effortlessly and after x amount of time your watch will be paid and you'll still have your principal. Especially if you can get a low interest rate on your loan and a higher rate of return on your invested cash. Of course, this is in a perfect world and you'll get to have your cake and eat it too 
I personally don't do this, but who knows, might work for some people  I agree with the rest of the folks here. If you have a $10k watch and can't pay your bills, not a winning proposition which clearly depicts poor financial judgment on behalf of the buyer. Its the same when you see folks driving BMWs, Mercs, Audi's, etc and living in shacks. But then again, everyone is free to do whatever he/she wants and at the end of the day we do live in a consumption society; roughly 70% of GDP is consumption. One thing is for sure, we are not a saving society. That is what makes the world so cool. Live and let live, I guess...
Anyways, I just like thinking of alternatives. Before I make any large purchase I like to consider the different options available to me before sinking my cash in something. I have taken lots of loans depending on the interest however at any point in time I have the cash to pay them all completely if need be. In this case, no stress for me and I get to grow my cash on the side for a rainy day or something. I rarely turn down free money 
Just a thought 
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)! I feel as though, if you can't afford it by paying all at once than....a) wait or b) don't get it!