Silver-toned horse-motif pendant watch

This item is a pendant watch in the shape of a horse, suspended from a silver-toned rope-style chain. The horse figure appears to be made of a polished silver-colored base metal, consistent with costume jewelry materials. The design features a galloping horse with a textured mane, tail, and saddlery details. Embedded in the center of the horse's flank is a small circular watch face surrounded by a horseshoe-shaped bezel set with small, clear stones that are stylistically consistent with rhinestones or crystals. The white watch dial features black Arabic numerals and bears a mark that appears to read 'St. Moritz' and 'QUARTZ' under the 12 o'clock and above the 6 o'clock positions respectively, though these markings would require physical magnification to verify. A small winding crown is visible at the bottom of the pendant. The item shows some minor surface scratching and potential light tarnish consistent with use. Without a hallmark for sterling silver visible in the image, the piece is attributed to the late 20th century as a piece of fashion or novelty jewelry. The 'St. Moritz' branding is consistent with various mass-market watch distributors from that era.

Based on my visual analysis of the provided image, I have evaluated this silver-toned horse-motif pendant watch. The piece bears markings consistent with the 'St. Moritz' brand and 'Quartz' movement, which suggests it is a mass-market novelty item likely produced in the late 20th century. While the design is detailed, the materials appear to be silver-toned base metal and rhinestones rather than precious metals or gemstones; however, I cannot verify the exact metal composition or the stone types without a physical inspection or acid testing. The value is based on the working hypothesis that this is a standard costume jewelry piece. On the secondary market, items of this type are generally valued for their decorative and kitsch appeal rather than investment grade. If this item were found to be crafted from sterling silver with genuine diamonds upon professional testing, the value would increase significantly, likely into the $150-$300 range. Conversely, if the quartz movement is non-functional or the plating shows significant wear not visible in the photo, the value would likely drop below $15. To confirm this estimate, a physical examination of the winding crown, internal movement, and any hidden hallmark stamps is required. The current estimate reflects general market interest in equestrian-themed vintage fashion accessories in good aesthetic condition.