For me, no version of the Apple watch is particularly attractive or well crafted when compared to a proper mechanical timepiece.
Most of the time it's a blank rectangular black slate.
To borrow your analogy. You can buy a Civic for 20k...or you can buy an 18k gold gilded Civic for 200k. Neither of which should be confused with a proper luxury vehicle.
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A boat/house is an asset, even if the cost of ownership is in the red. There is NO positive connotation to the word. You're argument would similarly mean that I can't call the plus sign in addition equation:
1+(-1) = 0
A "plus sign" because "addition" and "plus" in other contexts commonly refers to an increasingly positive sum.
Here is my issue. It isn't MY definition of asset... it is THE definition of asset.
To play your game though... I'll say this. You can borrow against your boat. You can borrow against your house. They are assets.
And that is exactly why people go broke acquiring these "assets". They borrow against their house to buy a car, a boat, vacations, and so on. That borrowed money is not free, you have to pay it back with interests. So now, not only do you have to pay your mortgage payment (if it's not already fully paid), you have to pay back with interests the things you spent against your house.
What people don't realize is that the first several years of that mortgage payment, they are paying just the interest. After about 10 years or so, they have to pay interests plus the principle borrowed. So most people get into trouble when they realize their payments start going up significantly. They have already stretched themselves thin from borrowing against their home, their mortgage payment goes up. There are lots of unexpected things that will happen. What if the house loses value? What if they lose their job? How can they sell the house when it's underwater (house valued lower than their mortgage), let alone all those things they have been spending on against their home?
But there's nothing wrong with borrowing against your home either. If you are smart and educated, you can profit from it.
Perhaps I'm wrong. These things are assets, but they are your bankers assets. They get interest payments from you. Worst case scenario, they take it back from you, and you are homeless. Then they'll sell it to the next guy. The banks considers an asset as something that can produce or generate them profit, like loaning out money. They don't care about feelings or sentimental value of some object or merchandise. Their definition of an asset is far different than your definition. So when someone tells you "This thing you plan to buy is an asset.", you better pay closer attention.
You guys might want to reflect and think back who's been telling you "Your house is an asset." Was it your real estate agent? Banker? Broker? Contractor? Because they all have a vested interest in selling it to you and profiting from that transaction. It is
their asset, I can assure you of that. This is a team game, and they all have their own teams. You will always lose if you play their game by yourself. Once you paid them their cut, they don't care what you do with that house. They wouldn't care if you burn it down. They'll gladly sell you another one.
Does anyone know the origin of the word "mortgage"? Let me help you with that: Mort gaige (Death pledge). I'll let you do your own research if you care to know.
And your comment about the 20k car vs the 200k car. The bankers (or the car dealer) couldn't care less which one you could afford or which one you think you would look better in. They make a profit by selling it to you and you make payments to them. They will tell you "That car is an asset. It's going to maintain its value, maybe even increase." but there is no guarantee. The only thing that's guaranteed is they will either get their profit by you paying the bills or you will lose the car.
Now with all that said, you really should enjoy what you have. Whether that's a Rolex, Omega, or Apple Watch. Don't get bogged down about it being an asset or whatever you call it. If you got it because you want it, then enjoy it.
