The same precautions should be made for a jewelry watch.  Many watches may have silver or diamond studs and they are expensive to replace or repair if damage occurs.  If you notice that your watch is not functioning properly and may need repairs you should take it to an expert. 

Although you may be able to fix the watch on your own, dust particles and other materials can end up inside important watch parts.  If dust particles or other debris gets trapped inside the mechanical portion of the watch, it may continue to not properly work and additional damage may occur.  A jewelry watch is not a cheap watch and taking the watch to a professional can be a wise investment in the long run.