![]() Together with the Waltham Watch Company, they dominated the huge market for mid-grade watches, producing over one-million per year during their peak years of production. Their success can be attributed to their huge production of low to mid-grade watches. The Elgin Watch Company's success was not built on its production of the highest-grade watches, though some of their higher grades were top-quality, exquisitely made timepieces. In 1874, the company officially changed their name to the Elgin National Watch Company, and that name remained until they stopped producing watches in the 1960's. This identical watch, serial number 101, was sold at auction in New York in 1988 for $12,000. ![]() Raymond model which sold in April of 1867 for the astounding price of $115. The factory for the National watch company was completed in 1866, and the first movement produced was an 18-size B. Mason, with financial backing from former Chicago Mayor Benjamin W. The Elgin National Watch Company was founded in 1864 in Elgin, Illinois as the National Watch Company, and some of the organizers were later to become the some of the biggest names in the American watch industry: J.
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