No I can't spell. lol. I've seen the same add advertising a $500 tourliben in Newsweek, yes I'ma news junkie. Let's think about this and analize what we are seeing.
Possibility one. The ad is telling the truth and they aren't trying to rip you off. Seiko perfected the technology to make automated equipment to manufacter an entire movement (the one used in the seiko 5s) vertually untouched by human hands. So in theory, they got their hands on some of those machines which is possible since the seiko 5 movements are probably being made in China like every other mass produced item. well, almost. They could have modified and used those machines to make the parts for the $500 watch. They wouldn't be pretty, but they would work. Then the parts would be, in theory sent over to a sweat shop where they pay them about 300-700 yuan a month to work 13 hour days assembling the watches. The current exchange rate is between 5 and 8 yuan to the dollar. So, are you willing to pay someone a living wage to assemble your $500 watch?
Possibly two. It's a fly by night operation and you'll never see your money or a watch again.
Possibility three. It's made by the same people using the above equipment and labor who make the "copy watches" and sell them on Nathan road in Hong Kong. Copy Watch? If I hear that again I'm going to screammmmmmm. They don't care if you are just going out for morning tea and actually live in HK, or have lived there and are back for a visit. They will still bug you until you yell at them, preferably in Chinese to GO AWAY. Several years ago, a friend convinced one of those annoying hawkers that if the hawker took him back to the place where they are made, he just might buy one. So amazingly the hawker DID take him back there to this dingy place located on a dark alley in Tsim sha Tsui. They were taking Seikos and pulling off the dials and mounting face dials. They've gotten a lot more sophisticated since then as they've picked up skills from the mass watch manufacturers in China. So they can probably make a convincing fake case and copy a Swiss high end watch piece by piece and make the pieces by automated machines. No it wouldn't be pretty, but like a Timex it would work and they would sell it to you for $500. And the profits would eventually end up in some Traids' coffers. My friend is just lucky he made it out of that place with no broken bones. He must have bought the watch. lol
In conclusion, It is a scary thought that at some point in the near future used Swiss watches will have to be authenticated the prove that they aren't elaborate fakes.