Hi everybody! This is my first ever project, done for school assignment, took me a while though… a long while and had a lot of problems doing this thing and learning how to use blender as well. anyway here it is (if the insert image thingy works…) and in case it doesnt… http://img246.imageshack.us/my.php?image=86036242qp4.jpg
Wow!! That’s great did you use any other software for rendering?
umm i think i used the YAFRAY renderer…thats it, thanks for the reply!
Thats pretty good for a first render.
A tip, you can smooth out the edges by clicking on the set smooth smooth button. (press F9 then its in the links and materials panel)
Though this may give you undesired results because you want some sharp edges aswell, you can add a modifier to fix this. So F9 again, look for the modifiers tab > click add modifier > edge split. This should make it look better.
This would greatly benefit from set smooth and an edgesplit modifier. Also, tweaked colors and a different lighting setup, along with a little AO.
The model looks good though!
It would be even better if you left out the edgesplit modifier and actually beveled the edges. That would give you much more realism, as infinitely sharp edges don’t exist in the real world.
Umm I tried smoothing and that stuffed up my watch big time lol, and bevel made my computer freez… Is there a way to just bevel and smooth certain parts of my watch and not all of it? - by the way I never smoothed or bevelled or edge split beofre so I’m noob…
Hmm… I gotta say that if you used yafray, you kinda wasted your time, this looks like an straight blender render. Yafray is wonderful for GI and photons and whatnot, but this wouldve been an easy render for blender even. Remember, only go to other renderers if they have something the internal renderer doesnt. Otherwise, its just simpler to stick with Blender 
Modeling wise, its not bad, folks have already given some great tips there. As for smoothing, you dont have to smooth the whole model(just select the faces you wish to smooth and set smooth em), and if you get weird issues with the faces after smoothing(like, they turn black for instance) select all the vertices and hit ctl-n(fixes normals).
Lighting: Like has been said, some Ao or AAO would really help, as well as some softer shadows. Also, you can go a lot simpler with the lighting and acheive much more drama/mood with a single well placed lamp and maybe a rim light. A lot of people overdo it with lights, for something like this where render times arent a huge issue, go simpler and utilize ambient occlusion, or yafray’s GI(global illumination in case you dont know).
At any rate, its very nice work for a first project, give yourself a pat on the back! Apply the tips people have given, and you’ll learn quickly 
Look forward to seeing more for you in the future!