Gallet & Co., based in La Chaux-de-Fonds, Switzerland, is the world's oldest continually operating watchmaking house, tracing its origins back to 1466. By the 20th century, Gallet had firmly established itself as a premier manufacturer of professional-grade timepieces, specializing in complex chronographs for military, aviation, and racing applications. The MultiChron 12, introduced in the mid-20th century, is one of the brand's most celebrated achievements. The '12' denotes its sophisticated three-register layout capable of recording up to 12 hours of elapsed time. Powered by robust calibers—most notably the Excelsior Park 40 (EP40) or Valjoux 72—the watch functioned as a mechanical computer for the wrist, featuring telemeter and tachymeter scales to calculate distance and speed. Gallet chronographs were famously favored by demanding professionals and historical figures, including President Harry S. Truman and legendary Formula One world champion Jim Clark.

The vintage chronograph market values the Gallet MultiChron 12 highly due to its exceptionally wearable 37-38mm case size, which was oversized for the 1940s/50s era. Valuation is highly stratified based on dial configuration. Standard silver or 'Snow White' dials in stainless steel consistently clear between $2,500 at general auction to $5,000 at specialized retail. The $3,000–$4,500 FMV reflects a standard silver-dial EP40 variant sold 'watch-only' on a leather strap, supported by an eBay sale at $3,200 and a Wanna Buy A Watch dealer sale at $3,650. The $22,860 Christie's comparable illustrates the massive premium attached to the black-dial 'Jim Clark' variant; because the subject's dial configuration is not specified, this valuation assumes the standard silver/white baseline. The presence of a high-quality handmade Italian alligator strap is a fine aesthetic addition but does not command a premium over original factory bracelets or box-and-papers complete sets.