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This artifact dates back to 1939, the second year of what was then the preeminent tourney in college basketball, the National Invitation Tournament. Long Island University was the winner, with the tournament played at Madison Square Garden, where the final rounds are still held today. This stylish watch was made by Bulova and inscribed on reverse, "Winner National Intercollegiate Basketball Tournament Madison Square Garden 1939." It is 10k, gold-filled and retains original band. The crystal is gone as well as the second hand from the face in addition to the winder knob, all of which would be very replaceable by a good watch repair shop.
Other past auction items that may be of interest to you.
Spring 2013 Catalog Auction