Retired, and in need of a new watch: an oxymoron.
Honestly, you're retired. Forget the watch. Forget buying "things. You'll end up your life surrounded by things you can't take with you, at the expense of missing experiences that would make your years fuller.
Lose the watch, and in return receive an attitude of relaxation. Life's not about showing off to others; they're not impressed with ostentatious expenditures that others do to show who's a "have" and who's a "have not".
Sharing a fun adventure with someone? Seeing someplace, doing something, you've never done before? Making someone else's life better?
THAT'S gold for us!
You might discover that not showing off, and not worrying about being on a schedule, is where it's at.
Oh, I get where you're coming from. There are collectors for just about everything, and if you won't be happy without that one gadget (or without a hundred of them, or a thousand), well, you won't be happy. Until you find out you're still unsatisfied after you've gotten it.
So buy it and be happy, or don't buy it--but STILL be happy!
When I was a kid, my father would watch me stare in envy at some fancy house or car or boat as we'd travel, and he'd put it in perspective by saying: "That guy USED to have money."
I'd recommend taking the funds & doing something strange & unusual to you. Head over to the Dominican Republic's poor side of the island and work with the Peace Corps & the locals to try & get them safe sanitation & drinking water. Step back after a year or two and re-evaluate your satisfaction.
Would a fancy new watch have given you the same warm feeling of accomplishment and gratitude as you'll get from your new friends?
Hopefully the well-being of people is the kind of thing you care about, and not so much worrying about the material things in life.
Do what's right for you, but do what's also right for the have-nots in the background, and I'll bet your quality of life will have increased by leaps and bounds. Your mental health will thank you!