[capote]

Originally Posted by coralhound

Real guilloche is cut using a rose engine lathe with an extremely sharp tool that "engraves" the repetative pattern. True guilloche work produces many light reflective surfaces. In some cases enamal is then painted and fired on.

The pattern that is on most watches these days are stamped and painted.

Some rudimentary info:
http://en.wikipedia.org/wiki/Guilloch%C3%A9

Thanks for clarifying