Until the late 19th century, Prescot had been the centre of the
watchmaking trade in England. The workers produced watch parts in small workshops attached to their cottages and were paid by
piece work. By 1889 the
American System of Watch Manufacturing meant that the
Waltham Watch Company and others could produce watches at a much lower price and the town fell into decline. In 1889 a company was formed and eventually a large factory was built to create complete watches under one roof. The products produced had more in common with earlier American designs than traditional English
fusee watches. Because of
economies of scale the Lancashire Watch Company struggled to compete with the larger American and Swiss factories. It could not make a profit and went bankrupt in 1910. Thomas P Hewitt's watch was sold at Christies Auction in 1995 fetching $215,000, purchased by Robbie Dickson; a well-known historical watch collector. ==References==