This would only work if the NFT was signed by a key kept on the real watch in a Secure Enclave of some kind, but then you don’t need the blockchain, just a database maintained by Rolex. The blockchain doesn’t buy you anything here.
The only thing you need is the root Rolex certificate and you can authenticate the watch. You also need to have a signed copy of the serial inside the enclave so it can't be transferred (inside the certificate)
Near-universally applicable lemma.