What's the most underrated ?

I'd say BALL. It's a brand that, "if you know, you know".

But the thing is, an awful lot of people "don't know", and even more don't own.

BALL, hands down, for mine.

Ball, for sure. The little American brand that could. I have one. I want one or two more.

Ball is a brand owned by a Hong Kong company, manufactured mostly in China, and finally assembled in Switzerland. Before that they were a jewelry store that put their name on other's watches.

So, maybe not underrated, perhaps misunderstood. Not to say that they don't make fine watches.

None of these options describe "underrated" watches or brands as I understand the term. "Value for money" is the kind of term that means whatever you want it to mean. It is a purely subjective measure.

The Ball Engineer III Marvelight Chronometer Caring Edition literally has rainbow tritium lume. COLOURS! I think Ball is fairly underrated. Many of their watchws are great, but a lot of them are also "meh."

I feel like all of these watches are rated & valued exactly where they should be, as long as one doesn't pay retail!

Citations please. My research indicates Ball is a Swiss company and are made in Switzerland.

I didn't say that they weren't "made in Switzerland" as understood by Swiss law. And they are a Swiss company. And they are also an American company. And they are also a Hong Kong company. Multinational conglomerates are common. Timex is a Dutch corporation, headquartered in New York, owned by a Norwegian, and manufactured in several countries, including the Philippines.

Your research can't stop at the brand's website. Ball's corporate leadership has always been vague about the transition from the Ball family. I suspect this is for two reasons. The first is that Ball really wasn't an ongoing concern for the last twenty years of their American existence. They never ceased all production from what I can tell, but their output may have been minimal, almost "artisan". Continuity in production means something in the watch business (this is a sore spot with Blancpain, for example). The second reason is that Hong Kong did not have a good reputation in the watch world. This was not really anti-Chinese bias (although that may be part of it) because HK was still a UK protectorate. Hong Kong investors saved Ball. They incorporated in all three countries according to Dun and Bradstreet. Foreign companies incorporating in Switzerland has been common since the late 19th Century. It is a way of avoiding tariffs and being able to put "Swiss Made" on the dial of your watches.

None of this is to say that you shouldn't like Ball watches or that they don't make a good product. I have liked many that I have seen here.

If price is measurable in absolute terms, using the right Forex if needed, value is an entirely subjective matter.

I just bought a Grand Seiko SBGN003, really enjoyed the Boutique experience and find this a brilliant timepiece, when somebody else might find it crazy to spend north of €3k for a non-Swiss quartz watch.