This is a visual way of establishing a place or person as being shady. Often will be parodied by replacing the watches with whatever item likely to make the people around him go Squee and have a Nerdgasm. Another common variant is for the seller to be wearing numerous wristwatces on the same arm, pushing up his sleeve to display them. The merchandise may have fallen off the back of a truck. The shady seller may be Honest John. When adding examples, please remember that the trope is the visual of having the goods inside the coat or otherwise hidden from view.