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I am sorry for you but I think it is a fake. Someone added a decal (fron a model kit ?) on the plate and suddenly it's a Bugatti watch.

There are several watches on ebay like this (I think I have seen this one als)

Here's another one:
http://cgi.ebay.nl/BUGATTI-FULL-SCALES- ... 3a5c14a39f

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"Barttore has left the forum"

It looks to me like an old watch with a fairly mediocre movement.
The only watch with any Bugatti connection (discounting that frankly ridiculous thing from a few years ago that looked like the guts of a rather naff carriage clock that had fallen off of your grandmothers mantlepiece, fitted inside the case of a shakey snow novelty ornament and somehow connected to a leather strap and then attached to an even more implausable price tag), is the Mido watch shaped as a horse shoe radiator that were given to a few closley connected friends of Bugatti.
Pretty contrived in itself, but at least with historical significance.