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Hughes mainly produced watch modules rather than complete watches and the branded watches are quite rare to find. From what I understand some where produced for the Hughes sales team and although they where not sold directly to the public they could be purchased by company employees via the company shop.
The desirability/value would depend on the condition of the watch and with this watch in particular the condition of the crystal is especially important as it carries the Hughes stamp.
I would expect it to still be of interest to collectors but the damage to the crystal will negatively affect the value of the watch.
The module in the watch was also used in quite a few other LED watches from the same era and although they are no longer produced spares can be found easily enough, cost wise expect to pay around the $95 mark.
So given the damage I would be inclined to say a conservative approach would be the best course of action.
It's a nice weighty watch, I have one myself, the Hughes logo is a little faded but the crystal is in fairly good condition.
Link to photo of my Hughes
http://www.dwf.nu/Gallery/displayimage. ... play_media
Hope this helps and welcome to the forum.