Yes. I would not be discourage or think too much about what the other party is thinking as
a) i've worked hard to buy the watch i am wearing
b) i didnt steal from them to get my watch
c) i didnt ask anything from them to get my watch
also if we are all scared to wear expensive stuff then lets all wear the cheap white cotton t shirt, wear the plastic slippers, wear those stripe shorts from any discount store and so on and so forth.
Lesson: Dont bother about what other people would think as it is their own opinion. Wear what you like.