[extraduder_ire]

Years ago I read somewhere (maybe HN) that much of the utility of these watches is moving cash across borders with less hassle. Since many airports will have stores, you can buy one for cash before getting on a plane and return/sell it on the other end.

Purely hearsay though, I've never had to move enough money to try it out.

[aredox]

As a pure store of value, a few diamonds or a thin stack of 1000 swiss francs banknotes are more efficient. Expensive watches lose value if worn (with the exception, if it is still valid nowadays, of Rolexes), and customs officers can ask to check them (at least to catch fakes).

[tycho-newman]

They are also fantastic ways of paying a bribe.