Wristwatches are often appreciated as jewelry or as collectible works of art rather than just as timepieces. This has created several different markets for wristwatches, ranging from very inexpensive but accurate watches (intended for no other purpose than telling the correct time) to extremely expensive watches that serve mainly as personal adornment or as examples of high achievement in miniaturization and precision mechanical engineering.
Traditionally, men's dress watches appropriate for informal (business), semi-formal, and formal attire are gold, thin, simple, and plain, but recent conflation of dressiness and high price has led to a belief among some that expensive rugged, complicated, or sports watches are also dressy because of their high cost. Some dress watches have a cabochon on the crown and many women's dress watches have faceted gemstones on the face, bezel, or bracelet. Some are made entirely of facetted sapphire (corundum)
Many fashion and department stores offer a variety of less-expensive, trendy, "costume" watches (usually for women), many of which are similar in quality to basic quartz timepieces but which feature bolder designs. In the 1980s, the Swiss Swatch company hired graphic designers to redesign a new annual collection of non-repairable watches.
Still another market is that of "geek" watches—watches that not only tell the time, but incorporate computers, satellite navigation, complications of various orders, and many other features that may be quite removed from the basic concept of timekeeping. A dual-time watch is designed for travelers, allowing them to see what time it is at home when they are elsewhere.
In a variation of the "nerd" watches the time is displayed in a non-standard way: with 24-hour mechanism, the hands turn anticlockwise, the numbers are displayed with LEDs in a binary numbers, etc.
Most companies that produce watches specialize in one or some of these markets. Companies such as Patek Philippe, Blancpain and Jaeger-LeCoultre specialize in simple and complicated mechanical dress watches; companies such as Omega SA, Ball Watch Company, TAG Heuer, Breitling, Panerai and Rolex specialize in rugged, reliable mechanical watches for sport and aviation use. Companies such as Casio, Timex, and Seiko specialize in watches as affordable timepieces or multifunctional computers.