Actually, I used to buy the "cheap" watches too until I learned they are actually more expensive than nicer watchs. I would chunk down about $25 every two years for a Timex piece of junk that never looked good and needed a replacement band quite frequently. The replacement bands, however, normally looked so bad they'd eventually motivate me to start over.
Then I switch to Fossil watches at about $60 every four years when the metal plating starts to fade. At least for me, the face and the band eventually get scraped up so I figure even with a really nice watch I'd end up having to replace it not long after anyway. Just seems like a lot better return of investmest since it lasts twice as long, looks a ton better, and doesn't cost much more than double or triple a "cheap" watch.