There are some things that are simply not worth showing off on the street in this part of the world. By all means if you are going door-to-door to a "safe space" with your peers feel free to wear what you please, but walking around in public with a Rolex in Buenos Aires? Who are you aiming to impress by doing so anyway, a humble shop assistant who would need to save all their wages for three or four years just to afford one... rather vulgar, don't you think?
Even in London and Barcelona there are numerous gangs of organised criminals who specifically look out for and target people wearing high-end watches so much so that the official advice warns tourists against wearing them on the street to avoid falling victim. High-end watch wearers are a very quick way to make $30k+ with just a few hours of work and relatively little risk. The same thing happened here in recent years with a band of criminal who watched new arrivals come through the doors at Ezeiza Airport to see what they were wearing on their wrists and would follow their cars to rob, and unfortunately for one of their victims, kill them. Common sense costs less than any watch and can protect your investment better than any insurance policy.