So a broach pendant watch with little picture holders? Assumed it was designed to hang from a button hole?
It has a bale on the very top so it was made as a pendant watch. Someone a piece allowing it to be worn as a brooch. These are called book form watches. I found one or two others that sold for over $15,000. The craftsmanship is top notch.
Yes, the idea of such a piece at Sears is relatively amusing. Kind of like finding a Monet in the furnishings department.
Decent movement... gilt lever 15j, not the usual low jewel count cylinder movement stuff seen in a brooch or pendant watch. late 19th century, meant for a foreign market as the regulator is marked in English, possibly American market as they required the Swiss markings by then. There was a Golay around in different forms from mid century until the early 1900s and they did specialize in the US market. Two serial numbers is interesting, perhaps the movement was purchased from Golay and added to the jewelry by its manufacturer who added his own number, the higher number is a different font, so that would be my guess as the add on. I doubt Golay made enough to reach 2 million plus as a serial number. what do you think @ulackfocus ... Craftsman?
The case measuring 30.15 mm long by 25.40 wide (without the closure) and by 9.2 mm thick is totally hand constructed in 18K yellow gold and the watch weighs over 30 grams. As someone who has worked quite a bit in goldsmithing I marvel at the highest quality of work I see here. There are 6 separate hinges at work here. The front and back of the watch are decorated with hard enamel. Blue with white border. In addition there are swirly design elements in gold that I believe where soldered to the surface similarly to the technique used in cloisonne` enameling. The bail and the closure are similarly enameled. The crystal measures 12.8 mm in diameter and is surrounded by 32 rose cut diamonds which are bead set. The diamonds are set in what appears to be silver. The reason being that platinum was not in use yet for jewelry and white gold alloys did not come into use until 1920s
Plenty of room in there for your coke stash. That came to mind because of a Hercule Poirot episode I watched recently where members of a drug smuggling gang carried their personal coke stashes in identical watches.