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Founded in 1956 by Mr. Ollech and Mr. Albert Wajs, O&W concentrated on manufacturing rugged sports watches at affordable prices. O&W eliminated the middleman by advertising in military, aviation, scubadiving and outdoors magazines and selling via mailorder direct to the user. Most famous of their watches is the Caribbean 1000 meter dive watch.
The Caribbean 1000 case features a Òuser replaceableÓ crystal locking system. This allowed scratched and damaged crystals to be easily replaced by the owner, without complicated watch making tools or skills, and without compromising the integrity of the water resistance rating. The instruction manual states crystal replacement can be accomplished Òin less than
a minute, by means of a special opener supplied on demand.Ó The domed crystal itself is 5mm thick. The Caribbean 1000Õs trademark is its one-piece monoblock case, which means no screw-on back (fewer opportunities to leak), and a triple-sealed, double-thread, screw down crown. These features are what make the watch waterproof to 1000 meters, which was quite a feat for the time.
All of the above information, courtesy of: http://scubawatch.org/caribbean.html
The example offered today is in MINT condition. The case is unpolished, the dial is untouched, and the bakelite bezel is almost flawless. Featuring a screw down crown and a dive depot of 1000 meters, this watches oozes vintage diver cool.