Details and accents are important for formal and black tie occasions. For example, dress shirts with French cuffs , with which you use cuff links, takes elegance up a notch.
Also, it's better to wear no watch at all if you're planning to wear your everyday, large sports watch. Invest in a watch that is more suited for formal occasions. Preferably, it should have a leather strap and be understated. You can pick one up for less than $100.