"The clockmakers' lathes:  For five centuries the clockmakers were to be the builders of the most precise mechanisms then known. They very soon invented tools that made it possible to perform with confidence the most delicate operations of their work: machines for dividing graduating wheels and lantern gears, cutting spindles, calibrating gears, and so on.  They began to take an interest in the properties of the brass and steel they used, and invented and perfected machines for making even their simplest tools."  (Daumas, Maurice, Ed. (1969). A history of technology and invention: Progress through the ages: Volume II: The first stages of mechanization. pg. 274.)

Also see our information file on Peter Stubs for more illustrations and descriptions of some clock and watch making tools.