Noted watchmaker INVICTA, made the movement and beautiful porcelain dial.  

Together, the Swiss firms created a masterpiece embossed with hunters on rearing horses and their hounds in a leafy glade, complemented with a fob carrying out the hunting scene.  The 800 silver, three-part case is two inches in diameter, completely finished in niello.  Case is marked (under dog's foot):  H. F....DEP (Huguenin Freres, Depose).   

The very rare fob, 6 1/2 inches long, has a checkerboard niello background with links depicting a  horseshoe, straps, and other equestrian themes, with nailheads, buckles and trim of 18K rose gold.   A seal monogrammed C and B completes the fob.   Watch and fob together are 91/4 inches long. 

Movement is signed INVICTA; the watch winds smoothly, runs well and keeps good time.  

Porcelain dial is detailed with hand-painted numbers and gold minute markers, gold spade hands,  subsidiary seconds chapter and is signed Invicta. Dial has almost invisible (under 10x loupe) hairlines (see pix). 

   Inside cover includes serial  #711820; Huguenin "Niel HF" cartouche; 800 and Swiss silver marks.  The second inside cover lists awards given  this watch, including "MEDAILLE D'OR, BORDEAUX, 1895"and  "DIPLOME D'HONNEUR/PARIS 1896".  

This is a true collector's watch, especially rare to find with a matching niello silver fob.   Niello has no chips or flakes, just shows normal wear commensurate with age and use.   A small dent is on bezel side and part of one gold buckle is missing.   Watch and fob weigh 4 ounces.   

This is a combination of art and fine watchmaking that harkens back to a more gentlemanly era, still wearable, still appreciated  Required insurance paid by purchaser.