Alright, since my last thread was deleted because of contraband (a knife) in the photo, I have edited accordingly. Here is the repost:
I set up a simple photo session for my watches last weekend, where I used a cheap 20€ video light and my cell phone's flashlight as light sources and an image on my computer as the background. Here is one of the resulting images:
And the behind-the-scenes shot:
I hope this helps to show that you don't need any kind of fancy setup to get decent watch shots.