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Who says it's a Corvette watch? It doesn't say Corvette on it, and both flags are checkered, so it doesn't even have a Chevy logo.
Just a generic sports car theme piece. Old enough to be Swiss rather than Chinese.
I have one, but mine does say Chevrolet and Corvette on it. My father got it for me about 35+ years ago, after I bought my first Corvette.
The packaging says "The Motor Wrist by Old England", "The Watch For The Motoring Enthusiast". The warranty was from Auto Watch Unlimited, Inc. of King of Prussia, PA. On the back of mine it says; Swiss Movement Case Made in Hong Kong.