In my office (40-odd people?) in Glasgow, there are two Rolexes, two TAGs and a handful of good quartz (tissot, B&M, etc.) and ... no suits. The guy with the Explorer II cycles in from Edinburgh sometimes, one of the TAGs is a designer, the Tissot Chrono is a designer, the visiting designer from London wears an Auto PAM and casual arty clothes ...
It's not the 80s any more. What do the Silicon Valley billionaires wear? It's sandals, jeans, t-shirts and whatever sunglasses look good in their SLKs.
Panerais are more about style than cash. It just happens you need the cash to have the style.