ORIGINAL REVIEW, 5 stars:

This is a beautiful, high quality box with rich color.  I keep women's bangle style watches in mine (those are ones that can not lie flat).  I store the watches horizontally around the pillows in the compartments.  Depending on the width of the watch, I can keep 2-3 watches on each pillow, or 25-30 watches in the box.

UPDATE 5/14/14:

Almost 5 years after purchasing this box, I bought another one for a gift.  What a disappointment!  The finish isn't beautiful and glossy, nor is the color rich as mine is.  It has a cheap look to it.  So, there are many positive reviews for the original box which are used for this cheaper looking box.  If the product is changed, the old reviews shouldn't be used.
I have changed my rating from 5 stars to 3 stars.  The only reason that I gave 3 stars instead of 2 is that the compartments are large, which is hard to find in watch boxes.