I don't know a lot about them in particular.  I tend to mind my own business and never would even think about them if they did not catch my attention by some other means.  In this case, I noticed them because Masonic items are quite popular on eBay and they generally sell quite well.  Vintage Masonic items in particular are much sought after collectibles.

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Over 100 Banned Controversial Forbidden Books on DVD    US $.01

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How To Win Any Lawsuit Secrets Revealed Legal Guide    US $.44

Illinois Pocket Watch Size 16 from 1902 Era Gold Filled BB Royal 20 Years Case    US $.95

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I should say that just finding one of these will not guarantee a huge selling price.  This one was extremely rare.  It was one of only 1500 fourteen kt gold watches made in the series produced by the Dudley company back in the 1920s.  A good thing for potential buyers and sellers to note was that this watch was in an unreconditioned state and was not even running.  A lot of times, sellers at estate sales will let non-functioning items go at a deep discount, even if they know it is very old.  Although a professional seller might know the value of this watch, if you find something like this at an estate sale being run by non-professionals, you might be able to pick up a nice deal.  Whether your consience will allow you to do that or not is up to you.

Vintage pocket watches in general are pretty popular.  I wouldn't spend too much without researching them a bit though.  Not every old pocket watch will sell like this one did.  In fact, this one stood out as a clear exception and was much higher than the nearest pocket watch that sold.  That watch, also Masonic, sold for about $1,250.  Still nothing to sneeze at, but prices dropped off sharply after that.

If you are going to buy one of these on speculation, always get as many details as you can before buying.  Also, don't pick such items up and recklessly start moving and twisting parts around.  You may find yourself paying for something that you managed to break.  Some of them can be very delicate or might have already experienced some type of prior damage.  Ask the seller to demonstrate what the watch can still do.

If you are a fan of antique pocket watches, you will enjoy this pocket watch video. It is quite a collection!