I have found a watch in the street is it Halaal or Haraam to take it?

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger. We ask Allaah to exalt his mention as well as that of his family and all his companions.

If this watch is insignificant and the person who lost it is not keen to get it back, it is permissible for you to take it and utilize it.

Abu Daawood reported that Jaabbir said: "The Prophet permitted us to take sticks, whips, ropes and similar objects which a person picks up and benefits from."

However, if the watch is valuable according to the customs of the society and its owner will be keen to get it back, it is permissible for you to take it but you should announce it for a whole year in public places like markets and the like. If its owner comes and describes the watch to you, you have to give it back to him.    

Al-Bukhari and Muslim reported that Zayd Ibn Khaalid Al-Juhani said: 'The Prophet was asked about finding something on the street and he replied: "Keep the container and the string which is used to tie it, then make an announcement about it for a year.  If its owner comes, give it back to him, otherwise utilize it."

Thus, if you announce it for a period of one year and its owner does not come to claim it, you can benefit from it as reported in the narration.

However, the Hanbali school is of the view that it is better in principle not to pick up anything found in the street.

Allaah knows best.