I wore my Seiko SKX007 (my first mechanical) in the delivery room when my son was born. I wore a Tissot dress watch (that my wife gave me for Valentine's Day when we were dating) in the delivery room when my daughter was born.
My kids will each get their respective "birthday" watches one day when they're old enough.
Neither of the watches were truly expensive -- I bought the Seiko for $120 and the Tissot -- while a gift -- was valued around $500CAD. But I'll never get rid of them.
Grail watch is probably a Connery-era Bond Submariner. But you know...that's not gonna happen.