I'm surprised no one recommended Chappy Brazil's work. His Watch Steal Video/DVD is essentially the first go-to resource available on the topic of stealing watches. If I remember correctly, some magic shops even take a percentage of the sale and donate it to his family, because he died a few years back in a sudden motorcycle accident. It's a shame too; he was an [excellent] performer and you definitely see his talent on the DVD. I remember seeing him perform on The Science of Magic television special when I was younger, and I was absolutely awe-stricken. He was ahead of his time, and I believe his watch-stealing DVD is still the most credible resource available on the topic.
And for the record, I'm not a fan of the Coats/Byrd products. Their methods lack choreography and natural smoothness that Chappy Brazil demonstrates. Chappy Brazil made watch stealing magical, because he had perfect logic and misdirection in his technique. I found that Coats and Byrd typically mandhandled their spectators making the steal absolutely transparent.
Chappy Brazil. Highly recommended.
RS.