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Those Ingersoll watches are produced under the european part of the original trademark. The US trademark is still owned by Timex, the european by Zeon, an UK low price watches producer.
The trademark rights have been granted to a German company (Cristano or similar name) two years ago and they started a larger scaled production of an entirely mechanical collection of watches with a vintage look. All are fitted with chinese movements and most of them look like chronographs but are in fact multi-functions watches only.
They've sold extremly well in the beginning, most larger department stores offered them, mail order catalogues included some models and many jewellers also had them. The owners of the german company have been some kind of distributor of other brands before and have a large network of sales agents. Low priced (all below 200 EUR in the beginning), a watch for the newbies, those that ever wanted a mechanical watch but hesitated to spend to much money for it. The designs are good but often, let's call it friendly 'hommages', of known watches of famous brands.
Here's the website:
http://www.ingersoll-uhren.de/
The quality was really bad in the beginning, i've heared of several jewellers that had up to 50% returns, we also repaired a lot of them, quite bad made movements with several tricks that could cause defects very easily, i think they've improved the quality but i haven't seen one of the new productions yet.
Zeon has something to do with the productions, maybe the watches are made in the same factories on order only, anyway, they offer also Ingersoll branded watches but those (the 'diamond' studded ones) look even worser, just feed for the masses on tv shopping channels.
 

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One correction to my previous post:
The one above is a dealer only, this is the Ingersoll (Cristano) website:
http://www.ingersolluhren.de/
As most will see many designs look familiar, Breguet, Longines, Zeno etc.
I wouldn't recommend them, i've asked our inhouse watchmaker some hours ago and he remembred some model names that were extremly bad: Ghandi (yes, no spelling mistake, skeleton), Little Horn and Cheyenne.
Take a Seiko, a Zeno, a Stowa or Archimede (to name some) instead, all have models at this price level and are reliable.
 

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I was wrong, it's called Gandhi (notice the h, but it is in fact referring to M. Ghandi), model can be found here:

http://www.cristano.de/cms/dw.php?file=IN-2701-WH.jpg&imagedir=./upload/watch/

Their Ingersoll 'history' names Mahatma Ghandi as one of the wearers of an Ingersoll (although the one who translated the text mistyped the name):
Many famous individuals wore an loved their Ingersoll watches like Thomas Drake the circumnavigator or A. Edison, T.Roosevelt and James Dean. In historic books for example it is written about Mahatma Gandhi and his Ingersoll watch.
Ingersoll is not a Watch I would particularly want to own. I have always thought of them as a bottom of the barrel type of brand like Timex.

You can buy plenty of good Watches today, like Seiko, for very good prices.
Yes, even the original US made Ingersoll watches have been mass produced cheap watches, so called Dollar watches, price of exactly one dollar at their time. Maybe they continue the basic idea behind the brand ... (but regarding the production costs only)
 
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