One thing I’ve enjoyed is a focus on just a couple of brands of old watches. I have about 10 Enicar watches; they made everything from simple hand-wind no-date watches (my favorite) to complex chronographs. They have a whimsical logo (a shark jumping at Jupiter) that matches the whimsy of their founder - his name was Racine, but he had an uncle in the watch business with that name, so he spelt it backwards.
I'd take an equally functional and/or reliable Japanese movement over an ETA that is used in the "luxury" categories where you're just paying for the label on the watch.
But quartz watches (~90% of my collection) are way more practical. They last longer (most mechanical watches need servicing every 5 years at $150+ per pop), keep better time, can be picked up and put on without setting if not worn every day and are only like $3 to swap out a battery. The key is finding a neat "gimmick" with quartz watches from quality brands. Things like Tritium luminescence are good if you like field watches. Or Citizen/Casio atomic watches that are super accurate through the use of the WWVB signal. Or "other uses" -- https://en.wikipedia.org/wiki/Casio_F-91W#Usage_in_terrorism
I have a sexy 70s quartz omega, but my daily watch is an orient ray raven II. I've regulated it myself, so its now about +- 35 seconds a month (which is better than most rolexes.....)
even cheaper are pocket watches, and they are much larger and easier to play with.
I've got two boxes of watches, one contains old soviet pieces from the 60s onwards. Each of those watches probably cost no more than €100, and usually they're far cheaper than that. (I buy them used.)
If you want to look at that kind of thing I wrote a comment here showing the process I use, roughly, to find them:
https://news.ycombinator.com/item?id=27167654
Sure my second watch box has a few more expensive pieces in it, but you don't need to spend money if you like the form, history, and utility of the other pieces.