I suppose it really depends on what your time horizon is. A lot of us here have been collecting Heuer for well over a decade, so the value of our watches have increased most assuredly 2-3x over the last 3-5 years, and in some cases 5-7x to the purchase price 10 years ago. Let's not forget how hard it is to top tick the market.
I mostly collect 1960s Carreras, and I feel like there has been a 20% pull back on these in the last 12 months. It's much smaller money compared to some of the higher value Autavias, so I'm less concerned. I sold a number of Carreras this past September and was very happy with the prices achieved.