Should I (35M) accept expensive birthday gift from parent and sibling?

First time posting.

I'm on a crossroad between accepting the gift or not.

They haven't actually bought anything yet as they are just waiting for my "okay".

I have been trying to delay the decision on the reasoning that I needed more time to research on the type of watch that I want. But in reality, I am conflicted. If I accept, I felt that I will "owe them" and feel guilty that I'm getting something expensive from them. If I don't accept, I will feel foolish for not taking up the offer.

Not sure what to make of it. Need help.

Thanks.

Tl;dr. Should I accept expensive birthday gift from parent and sibling?