... the people you are trying to impress on are not the ones 'in the know', ie not the watch connaisseurs but the general public.... You dont really impress or try to make other collectors envy or admire you, you just share your passion with them, price of the actual piece being perhaps one of the least important factors. More importantly: what's the story behind it and why are you so in love with it.
If you want to show off: yes go for a gold Rolex with diamonds, that will just about do the trick.
My advise: go to a dealer who sells a wide variety of brands with an open, unbiased mind. Then really buy the piece that you really like and that immediately catches your eye. In my humble opinion, people will be able to spot whether what you are wearing is just for show off or whether it is an expression of who you are / your individual unique identity.... Arriving means that you are no longer concerned about the opinion of others, so wear what you like!
My 2 cents