The skx175 or "pepsi" Seiko -- so called due to it's red and blue bezel combo -- is probably the most well known of the skx line after the skx173 and 007, the two all-black models.
The red bezel section -- as theory goes -- enables one to use the timing bezel as a *countdown* timer, despite the ascending numerals. In this use, the bezel dot marking the "60" position is set to the planned end time rather than lining up with the minute hand at start time... once you pass your set time you are "in the red".
While most watch buffs -- including myself -- usually use their dive bezels to measure elapsed time rather than count it down, this alternative approach is not all that odd. Some watches have been made with "countdown" bezels having decsending rather than ascending numbers, and the practicve has been described repeatedly tho it is not as well known or frequently used, perhaps due to most watches' employment of standard rather than "countdown" or backwards numbers.
The 175 uses the same case  and movement [7s26] as its fellows.
It comes on a "jubilee" ss bracelet with fliplock clasp, secured by the infamous Seiko "fat springbars", but looks equally good on a straight vent z22 rubber strap.
Like all its breathren, the 175 is inexpensive, robust, and classic. It will not be mistaken for another watch -- except perhaps another Seiko. The 7002 series contained a "pepsi" model. The 175 continues that tradition; production began in 1996 and never looked back.
The 175 comes in a standard finish, brushed top, polished sides and back. I gave most of the case a somwhat brushed look to dull the "flash", tho I left the "wave" logo on the caseback shiny. I wish Seiko made these in an all brushed finish. The Verdict:
These watches are a little more than your average "inexpensive watch" -- but well worth it. Longevity -- many old school Seikos divers have run years even when their owners skipped servicing. Design -- while the submariner design is classic not every dive watch should be a sub clone. The Seiko, with its corwn at 4, thick double knurled bezel, and rounded case with cool logo'd caseback, is it's own watch and will not be mistaken for anything but a Seiko. Functionality-- They work. Wether in temr sof case or dial design, they are practical for everyday wear -- more so than some dive watches... the crown at 4 is great whether your lefty or rightee. If you wear it on your left hand, the crown is less likely to snag on your jacket than a crown at 3... on your right [for lefties like me!] it doesn't dig into the wrist as some 3oclock positioned crowns do. The lume is legendary and the dials clear. Toughness: I have crashed from my bike and landed on my skxa35 [yellow dial Seiko diver]. It still works and is still waterproof. My skx173 has curvived offroad cycling and countless road rides, as well as day to day knocks [I commute by bicycle thru the streets of Newark most days]. Incentives -- I just got my skx175 and the place had a 40% off sale -- even on bracelet it was almost as cheap as intenret price... when you count shipping maybe only ten dollars more.
Go Seiko you won't regret it! ...
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