Trim beets, discarding stems and greens (or reserve for another use), then wrap together in foil and roast until tender, about 1 1/4 hours.
Let beets stand in foil at least 15 minutes, then remove from foil and cool.
Remove skins and cut beets into 1/3-inch dice.
Whisk together shallots, vinegar, lemon juice, sugar, 1/2 teaspoon salt, and 1/4 teaspoon pepper, then whisk in oil. Reserve 2 tablespoon vinaigrette for watercress and toss remainder with beets.
Let marinate at room temperature 30 minutes.
Drain beets in a sieve set over a bowl and set beet vinaigrette aside.
Put pastry ring in center of a salad plate and gently press about 2 1/2 tablespoons fish into bottom of ring, then put about 1/4 cup beets over fish. Repeat on 7 more plates.
Toss watercress with reserved 2 tablespoons vinaigrette and mound over beets (a small handful per plate).
Drizzle a little beet vinaigrette around each plate.
•Beets can be roasted and tossed with vinaigrette 1 day ahead, then chilled. Chill reserved vinaigrette separately.
Let stand at room temperature 30 minutes before serving.•Watercress sprigs can be prepared (but not tossed with vinaigrette) 1 day ahead and chilled, wrapped in dampened paper towels in a large sealable bag.