Mr Biden picked a stainless steel Rolex Datejust with a blue dial to wear on his first day in the White House on Wednesday.
Twitter users lined up to defend Mr Biden’s choice of watch and mocked the newspaper for the tone of its reporting.
“Trump incited a violent insurrection against the very government he headed that cost lives, but Biden wore a Rolex. Both sides,” tweeted @colesstreetpoth.
“It's not a shock that Joe Biden can afford to wear a Rolex. He's been gainfully employed for at least 50 years at good paying government jobs. It would be a sign that he mismanaged his income if he couldn't afford a nice watch at this point in his life,” wrote @carolinepanthag.
Another user, @tubunmuzuru, tweeted: “Knowing Biden, there's probably a heart-wrenching tale worthy of O Henry in the provenance of that Rolex - which Biden won't tell because he's the kinda guy who thinks self-aggrandisement is gauche.”
“Joe Biden was consistently one of the least affluent people in politics during his 44 years as Senator & VP,” wrote @author_kreckert.
“When he left office, at 74, he had the opportunity to make money. He took it. I don't begrudge this 78-year-old lifetime public servant his Rolex and Peloton. Sorry.”
And @williamrharvey added: “Obama: tan suit, Dijon mustard. Trump: treason, terrorism. Biden: Rolex watch, Peloton bike. #BothSides"
Mr Clinton wore a plastic digital Timex Ironman during his time as president, while George W Bush chose a Timex Indiglo.
Mr Obama chose mid-priced watches by American firms such as Shinola and Jorg Gray.
John F Kennedy owned one of the most famed watches, that he never actually wore.
It was a Rolex Day-Date reportedly given him to him by Marilyn Monroe on his birthday, with the engraved message that read, “Jack, with love as always from Marilyn. May 29th, 1962.”
Lyndon Johnson wore a gold Rolex Day-Date in office, that gave the watch its nickname of “The President."
Donald Trump chose to wear gold watches by Patek Philippe, Vacheron Constantin and Rolex.
Mr Biden’s watch collection also contains an Omega Speedmaster Moonwatch Professional and an Omega Seamaster Diver 300M, both of which cost between $5,000 and $6,000.