Yes, it’s GIVEN! There’s that term again. Consider the economics, kids: the company is giving away a watch - with an imported Swiss movement! - if you hand out 20 coupons. That’s it! See the big words up top? FREE! GIVEN. Hand out only 20 coupons. Oh boy! Hey - didn't you get just a ring a few pages back? Well, who cares. Watch! GIVEN!

The small print taketh away, and flatly contradicts the initial promise: you get your watch when people mail back the coupons and spend money on enlargements. Since the coupons entitled the bearer to get an enlargement for 19 cents, that means the total money generated to the company will be under four dollars - and from that tiny pool they have to pay postage, the costs of enlargement, and the cost of the watch, and the cost of a ring.

Either they’re taking a bath, or Swiss movement means the hands don’t move - in other words, they’re neutral.