Ollech & Wajs: history, models and value

Founded

1956

Founder(s)

Joseph Ollech, Albert J. Wajs

Headquarters

Zurich

Owner / group

Revived brand (OW), privately owned since 2017

Ollech & Wajs: origins and founding

Albert J. Wajs started out in the 1950s supplying stainless steel watch bracelets. In 1956 he teamed up with Joseph Ollech, and the two opened a watch shop in Zurich. At first they sold watches from established brands such as Omega and Breitling, then launched their own watches, first signed OWZ for Ollech & Wajs Zürich. The first own models appeared in 1959.

Founders and family

Joseph Ollech handled the business side. Albert Wajs led the technical side, although he was not a trained watchmaker. Ollech died in 1992. Wajs continued the company and in 2017 handed the brand to a collector who had been its French distributor since 2006.

Ollech & Wajs history and milestones

• 1959: First diver's watch.
• 1960s: Watches are advertised in magazines and sold by mail order to the US and UK, and through PX stores on US military bases. The M 65 military watch is popular with American soldiers.
• 1964: The Caribbean 1000, a dive watch rated to 1,000 meters.
• 1965–1969: Chronographs such as the Navichron and Astrochron, and the Selectron pilot's watch with a calculator bezel.
• Late 1960s: Production peaks at over 10,000 watches a year, then falls to about 2,000 a year when quartz arrives.
• Late 1970s: The company buys Breitling stock and equipment and for over two decades makes Navitimer-style chronographs under the Aviation name.
• Early 1980s: The original OW models are discontinued; the Aviation chronographs continue.
• 1990s: A new company, OW, makes sports watches such as the M4 diver and the Mirage chronograph.
• 2019: Relaunch of OW with the P-101 and P-104 pilot watches.

Famous Ollech & Wajs models

• Caribbean 1000: the best-known OW diver, apparently worn by the lead actors of the 1970s TV series The Professionals.
• Selectron: pilot's watch with a slide-rule bezel.
• M 65: simple military-style watch from the 1960s.
• Aviation chronographs: Navitimer-style chronographs with slide-rule bezel.
• OW P-101 and P-104: modern pilot watches from 2019, inspired by the Selectron era.

Movements and technique

Ollech & Wajs never made its own movements; it used proven Swiss mechanical calibres. The 1990s Mirage chronograph uses the Valjoux 7750, and the 2019 P-101 and P-104 use the ETA 2824-2 automatic in 300-meter steel cases.

Ollech & Wajs today

Under the OW name, the brand makes affordable mechanical tool watches in small numbers, with a focus on its 1960s designs.

Ollech & Wajs prices on the pre-owned market

Vintage OW watches are a niche, but they have a loyal following. Caribbean divers, Selectron pilots and Aviation chronographs in original condition are the most sought after. Value depends on an original dial and bezel, the correct bracelet and a working movement. Many old OW watches were used hard, so well-preserved pieces stand out.

How to recognise a genuine Ollech & Wajs

Vintage dials are signed OW, OWZ or Ollech & Wajs. Check that the movement is a Swiss calibre that fits the model and era, and that dial, hands and bezel age consistently. Aviation chronographs are sometimes confused with Breitling Navitimers, so read the dial carefully. See also how to spot a fake watch.

What is your Ollech & Wajs worth?

Send us photos of dial, case and movement for a free watch value estimate. If you need a signed document for an estate or insurance, order a watch appraisal.

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