G. Jackson:
What if an elderly sister (or brother) came to you to ask for assistance because of being destitute, not able to obtain a meal; what would your answer be? Would it be, "this is not my field," or, "we do not do this."
Flaunting your means of existence would suggest that you would not be too quick to help even these ones. Because if you were willing to help those in need, you would sell the watch and provide for needy ones. Instead, you wear the watch in public; meaning you intend to keep it for yourself.
If this is the case, then you should step down.