I agree with what some have already pointed out - whether it's fake or real doesn't really matter (although there is something off about a religious leader wearing a $20k watch) but it really doesn't fit with the bible message of avoiding a showy display of your wealth.
It also demonstrates that they think that is important or, at least, they aren't aware that it may be wiser to wear something simpler.
However, if you look at TV evangelism in general many of them often have luxury items, expensive suits and gold jewellery etc... It seems like it may be a subliminal thing where people perceive wealth as being equated with success and "right".
Given the focus the WT is now putting on slick and carefully orchestrated media presentations I would be surprised if someone hadn't thought about their watches and rings and decided it's better to have them than something that makes them possible appear less successful and less wealthy.
Remember, it's all about donations. People are often more willing to hand over money to rich people and don't think "hey, maybe they're rich because of my donations?!"
