The watch referenced in the link above has that estimated price because it’s a possibly unique Rolex of iconic design. Clapton’s ownership isn’t adding much to the price, after 20 years
Separately, but relatedly, the watch market has gone bananas in the last 24 months
Clapton does collect Patek Philippe watches, often built for him with customized dials (in great taste). These he sells from time to time, with the proceeds going to charitable causes. These pieces are expensive both because of the customized dials (one has to be a great customer for Patek to customize a dial, and so these variation are often unique) and because directly from Clapton’s collection - these customized Clapton pieces, eventually sold for charity, are a “thing” in their own right and have been for a long time
(Only a strict Marxist thinks anything has intrinsic value, so who cares how people spend their money?)
Just a comment from the peanut gallery….