I was deciding between this and the Griffin WatchStand , both retailing for the same price.
The Griffin WatchStand is tall and made of plastic. Because it is tall, you might tip off the stand accidentally even though there are reviews saying the base is quite heavy. The cable management of the Griffin WatchStand is neater because it allows you to coil the magnetic charging cable within the stand. It also allows you to place your iPhone sideways at the base. If you are using closed loop straps like the Leather Loop, Milanese Loop or Link Bracelet, you might have difficulty docking your watch on the stand.
In the end I chose Spigen Apple Watch Stand because it is made of Aluminium and it allows for both closed and open loop Apple Watch straps to be docked.
After opening the packaging of Spigen Apple Watch Stand, I am disappointed with the build quality of the stand. It is lightweight making it slightly flimsy and the build quality is not as solid as I expected it to be. The edges of the aluminium are rough and sharp as well.
Luckily, I also ordered the mophie’s watch dock  which is much better looking than the Spigen Apple Watch Stand, but it is currently out of stock. It will be retailing for S$79 when the stocks are back.