More than $200,000 for a stainless steel Patek Philippe Nautilus, $17 million for Paul Newman’s old Rolex Daytona, thousands for rare vintage watches from manufacturers no one had even heard of up until recently: Prices for coveted modern luxury watches and rare vintage models skyrocketed over the past few years. In some cases, this has led to almost absurd prices that are far from rational and really hard to wrap your head around.