When you look directly on top of this watch you see stable reflection of its face which is positioned on cone surface and hidden under the front circular detail.
All other viewpoints give different distortions of watch-face providing an illusion of inside space warping. The reason of it is a curvature of specular surface.
The position of watch's arrows seems reversed in reflection in case of special focus position of mirror surface. The pivot of them became a circle and lies on perimeter of specular surface.