Rolex was once called "Five Match Sticks" in China

These are some of the Chinese Made Watches, usually they are the basic Calibre with 17 jewels, hand wind, not quite accurate, easily gain or slow about 30-45 seconds a day, in 1980’s a good Shanghai watch with 19 jewels was about RMB250, a Pheonix bicycle was about RMB200, at that time a worker earned about RMB36 a month. It was not easy to own a watch, needless to say Rolex.  At That time the watch are “Shanghai”, “Dong Feng”, “You Yee” and “Ji Nin” whereas “Shanghai” was one of the best watches.

In 1980.when China was open for foreign investment, when we spent FEC (Foreign Exchange certificate) in China, Many of the Chinese started to know what a Rolex looks like, at that time local Chinese Sometimes called Rolex as “Five Match Sticks”;  that was what the “Crown” looks like!

There are quite a few brands of Chinese Made Watch was using “ Crown” as the logo for their watch, of course they are printed with Chinese name, Not Rolex...
This is a good NOS (new Old Stock Shanghai 19 Jewels) watch, it was selling at about RMB 125 in 1980., now it is about HKD$800 only! TIme changes.... if that is a Rolex Oyster Date just Rolex, it was sold about HKD$5,025 in 1981. now if that is a NOS, it is able to sell at least HKD$20,000. But a Superb quality of 1980 is just a few time more expensve than it was worth. negleting the depreciation of Money over the years.
So All it matters is Brands for Watches!
HK Snob