Why did the author finally give up on his watch?

The author had used his watch for eighteen months before it had run down and made many attempts to repair the watch by taking it to seven different people to get it repaired. After taking the watch to so many different people for repairing, the watch could not be restored to its previous condition. So also, the watch had cost the author two hundred dollars, but the repairs had cost upto two or three thousand dollars. The author then also understood what his Uncle Williams meant when he had told him about a good horse being a good horse only till had run away once.