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Is there anyone who knows about this watch?
I searched internet here and there but I couldn’t find any.
I guess that it is custom made for a graduation by time guild.
If you have any information about this watch please let me know..
Thanks.

Case back : TIME GUILD 14K-S&W
Movement : Time Guild 17j 2391
 

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"Time Guild" doesn't register in any of my trademark lists, so likely it was the name of a small watch import/export company, like hundreds of others that sprang up in the 50's and 60's. These companies would buy general purpose movements from one of the big Ebauche makers (ETA in this case), and put their own logo/name on them for resale. This model is part of what allowed the Swiss to dominate the watch market; if you saw a niche watch market you wanted to exploit, you didn't need to invest in the design and production of the movement; you could just focus on the visual aspects (which is what sells the watch anyway).

Question is, what market? The picture looks very much like a Shriner's hat, but as far as I can tell, the official Shriner's logo has the scimitar over the crescent. Maybe we have a Shriner on here who can comment?

The movement itself is a basic, unmodified ETA 2391; a very common movement from the 50s and 60s (and the base of a wide number of other, equally common derivatives). It's a simple, solid, dependable movement, the design of which is still being used in the current ETA 2801. It won't get anyone excited, but with regular service, you'll likely get another 50 years out of it, easily.
 
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