That's fine for cheap watches, but once you get into the $500+ price range you are taking a big risk.
If the watch has problems you'll need to pay out of pocket for repairs, and parts and service can be difficult to obtain for a watch not normally sold in your country.
Warranties cover defects which are few. A $500+ watch will need servicing after a few years, which is not covered and will generally run a few hundred dollars.
