Agent Kay's wrist watch

I just watched this movie again. It's been a long time since I saw it - and even longer since I saw the first film, about which I remember very little.

I was wondering whether Agent Kay's wrist watch featured in the first movie, and whether it had any significance beyond the fact that he hung it in the locker with the alien community? It seems as if it might from it's context in MIB II.

I was also wondering whether it is a real watch, and if so what manufacturer and model?

Thanks.