The distance between the handphone and the phone is far, so has no effect, except when ....you placed your watch side-by-side with your handphone. The strongest magnetic field is at the earpiece (the speaker)!
I believe in taking precaution.... a few of our friends mentioned their watches are still fine... well, its a matter of when
Previously when I reached home, last time, I placed my mobilephone on top of my wallet. A long while no issue, till one day, my credit-cards in my wallet could not 'swipe through'. Now the mobile is away from my watches and wallet! Not taking any chances.
OK, since you asked, I tried to show you the evidents of the mobilephone.
Notice the compass GREEN needle did not move at all with and without the mobilephone.