If you weren't going to make this exactly symmetrical you should have given more negative space in the photo. Other than that I really like the light and depth of field.
To be honest, because watches are advertised in almost every magazine, the image has to really stand out above the other watch competitors. I think the clarity of the pic is good, but this doesn't scream out "BUY ME, heres what I have that they don't" like I think a watch advertisement should should. A suggestion: when photographing an item for an advertisement, make sure the product name is visible and can be read (set the watch to a different time).
DOF is nice, lighting needs a little on the face of the watch. Also, look at all pro pictures of watches.... Hands almost ALWAYS go 10:00 and 2:00- it frames the brand of the watch
I remember reading somewhere that in watch shots the time should read 10 to 2, for a better perspective. In this case that'd work nicely as well as the arm wouldn't cover the brand.
Perfect photo for an ad. Crisp with enough contrast. Product is prominantly displayed. A less centered comp would let text flow better bu t overall an outstanding entry.