A watch organiser is probably the best way to store watches. I don't own many watches so I bought a box that has a capacity of storing four watches (2 for casual wear and 2 for formal wear) only. Initially I wanted to purchase a box having a capacity of storing 8 watches but then I would be tempted to buy more watches just to fill up the box!
I purchased this watch box from Flipkart for 492 INR.
This organiser watch box is made of wood and leather. It is quite big and takes up a lot of space though.
I always prefer keeping my stuff in an organised manner. Everything I own has its proper defined space.