Elgin pocketwatch

Jun 22, 2020. 19:53 UTC
Elgin Pocketwatch
Steve
United States of America

Category
Pocket watch

Acquired from
Inherited

For sale
Maybe
Description

Serial # 1201924 18 size grade 10 Made in late 1882 production 293,000 gold filled case

Provenance

single owner

Answered within about 22 hours
Jun 23, 18:15 UTC
By David

Fair Market Value

$130 - $170 USD

Insurance Value

$300 USD
What does this mean?

Hello Steve,
Thank you for sending in this Elgin pocket watch to mearto.com for an appraisal. I shall try to help you with that tonight.
TITLE:
Gent’s 18-size, gold filled, keyless, pendant wound and lever set, savonette, hunting case pocket watch, Grade 10, made by the Elgin National Watch Company of Elgin, Illinois, USA, circa 1883.
DESCRIPTION:
Case: Size 18, three/four leaf, gold filled hunting case pocket watch with fluted ball gilt pendant and round bow placed at the three position (savonette) opposite the case hinge. The covers are engine turned and engraved floral and foliate pattern with a notched case barrel around the circumference of the casing. The inside of the case leaves are not visualized.
Dial: White enameled dial with radial Roman hour chapter ring, closed minute track, sunken subsidiary seconds dial @6, steel American type Spade hands and the upper dial marked, “Elgin National Watch co. . .
Movement: Not shown but should be a gilt full plate movement, the grade 10, model 3, Class 5, size 18 model with serial number 1201924 made by the Elgin National watch Company in 1883 in a run of 5000 such movements, each made with 11 jewels, pendant wound and lever set, going barrel, quick train, plain index regulator and made with no adjustments as to position. . .
Condition:
Case – Most of the engine turned markings are worn from wear while the engravings persist quite well. There is superficial scratching to the outer case covers.
Dial – Good with several black speckles of oxidation or mold.
Movement – Not shown but will consider it original to this case, genuine and functional.
HISTORY:
Elgin History: The Elgin National Watch Company was founded in 1864 in Elgin, Illinois as the National Watch Company. In 1874 the name was changed to the Elgin National Watch Company. Between 1864 and sometime in the 1960s, Elgin manufactured tens of millions of pocket and wrist watches. The Elgin National Watch Company was for a time, one of the largest industrial concerns in the world. Elgin pocket watches from the early years are particularly interesting because of the methods and philosophy of the Elgin Company. Elgin used what were at the time quite advanced tools, techniques and labor practices to achieve a very high quality product, in high volumes, at a relatively affordable price. Elgin watches were created using mechanized, repeatable processes, organized quality control and standardized, interchangeable, parts. These things are all common practices in industry today, but not so at that time. The result was a product of high quality made in large quantities that dwarfed that of Elgin's competitors. Prior to Elgin's time, watches were made completely by hand, frequently by a single craftsman, from start to finish. Repairs could only be completed on such watches by someone with sufficient skill to fabricate replacement parts, from scratch, from raw material. Elgin watches on the other hand, were mass manufactured and highly standardized. Spare parts were provided by Elgin that were drop-in replacements for the originals. Elgin was extremely successful with this strategy. In fact, the company introduced more than half the watches made in America from 1920-1928. An Elgin advertisement in 1928 claimed that there were more than 14,418 retail jewelers in the United States and all but 12 carried Elgin
COMPARABLES:
https://www.liveauctioneers.com/item/85437549_antique-elgin-bw-raymond-pocket-watch-17j (sold for $170 in 2020)
https://www.liveauctioneers.com/item/76595603_elgin-21-jewel-veritas-model-8-pocket-watch (sold for $200 in 2020)
https://www.liveauctioneers.com/item/70875869_elgin-gold-filled-17-jewel-18-size-pocket-watch (sold for $125 in 2019)
Pricing:
The American Pocket watch database estimates that your pocket watch, in its current good but worn condition would have a fair market value in the range of $130-$170. Their pricing seems to agree with the comps (above) I agree with the database based on the condition of your watch. Retail prices would be close to double these figures. I hope that helps explains your watch in clearer fashion to you as the owner.
Thank you for choosing mearto.com for your appraisal.
My best,
David

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