Spammers are increasingly banking on the Rolex brand name to get users to open their emails.
In its latest monthly spam index, security vendor ClearSwift noted a big increase in the number of spam mails offering Rolexes, up from six per cent in November to 14 per cent in December.
Spammers are also using celebrity names to encourage click-through, with Usher and Jerry Springer both mentioned.
"These kind of mails are preying on the fact that most people wouldn't mind wearing a Rolex," said Jonathan Tate, communications manager at Clearswift.
"Once you click on the link you've validated that there is someone on the line, whether they are selling cheap watches or not. You're then signed up unknowingly for more spam by confirming that your email address is live."
By far the most popular subjects for spam last month were medicine related, which still accounts for 48 per cent of all spam.
Drugs to enhance libido are still the most popular email subjects, but the survey found a big increase in ads offering cheap painkillers, possibly ready for the Christmas season.
Pornographic spam stayed at a steady three per cent, although spammers are increasingly moving from selling porn to offering advice on how to become a performer in the industry or set up a website.
The survey's strangest spam of the moth was an advert for an online yellow pages service. Subject line: 'Portable toilets ... for when you have to go right now.'
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