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I think what Alex is suggesting (Alex please correct me if I'm wrong), is that the case is not a Bulova case (as of 1925) and therefore the watch as it stands is not a true Bulova watch from 1925, but a 'Franken' (Frankenstein) watch made up of Bulova and non-Bulova parts.

I tend to disagree with this notion and believe the watch case to be correct (legit) and as such the watch is a 1925 Bulova Mermaid, based on a 1925 Bulova case and movement.