Someone on Watchlords had a good formula in terms of value for quality, vs. brand name heritage and luxury cachet. He said it went like this: Micro-brands > Seiko/Citizen > Swiss/German brands. Meaning, the micros offer the best value in terms of quality, with Seiko/Citizen next. A lot of what you are paying for with the Swiss/German brands is the heritage and cachet.
To put it another way, a micro that costs a grand might be similar in quality to a $1,500 Seiko and a $3,000 Omega. That might not be the right formula–there isn’t really a formula–but you get the general idea.
So yeah, a $475 Boschett might be more similar in quality to an $800 Seiko than the $600 Sumo. Or, at the least, the Boschett and the Sumo are similar in quality in terms of movement, but the Boschett has superior build, clasp, bracelet, etc.
This is why for myself, who cares nothing of name brands and only a bit of heritage, the ultimate watch is a $4,000 Seiko and not an $8,000 Panerai or a $12,000 Rolex. It is also why I’m drawn more and more to micro-brands, because you get all sorts of intriguing possibilities. Prometheus is another example – the Baiji, which costs $400 new, feels like a thousand dollar watch.