I've actually found good info on the price of a 14k watch in 1897-- about 25-60$, depending on the size, movement, and labor. Good ol' Sears Catalog! https://babel.hathitrust.org/cgi/pt?id=uc1.31158001963940;view=1up;seq=414;size=125
If we operate on the assumption that there's a direct relationship between currency values and PPP per capita, and trust the valuations given for a period where solid data is missing, and also just use the region of eastern Europe for 1870... (so many caveats this number may as well be worthless)... you end up with about a 3.1:1 ratio to the US.
Edit: As a point of reference, you could get over 250 pounds of bacon, delivered, for 25$. More, if you lived closer to the midwest. According to Southern Living, a pound of bacon is about 5.50 now, or 1375$ worth. It's actually kind of tough to find conventional sources for new solid gold pocket watches (at least, while eating), but among more reputable sources, there are some in the 900$ range. Congratulations: The market value of bacon held better than that of a cheap gold watch. ? (Okay, not really, but it sounds funny.)