Not to worry. I googled Dr. Beat and came up with a array of tempo clocks which do so much more such as the Boss DB-60 for $69.00 on line. and many more. Nearly every digital piano made in the last 15 or so years also has a tempo tap feature, as well. I do miss my Effinger but these are so much more useful because they are also tuners, metronomes and, if you spend enough, with also lay country fresh eggs and make toast.

S

It's not really a watch you "wear."  It's more like a stopwatch.  You start the watch, do six beats and stop it, and then it tells you what your tempo is.  It is most useful when rehearsing with orchestra and they want to know your exact tempos.  As elegant as they are, they are a little antiquated nowadays.  If you really want one, maybe try checking eBay?

There are a number of apps available to download that have this feature: the one I have is made by Frozen Ape - the basic version is available free, with a more advanced version available for $2.99.  You tap on the tempo number indicator and it gives you the tempo in a few taps.

I like my tempo watch and still use it occasionally to verify a tempo for marking scores, but not while conducting.  "Tempo Tapper" on my iPhone is easier, more effective, and always with me - though it's unlikely you'll want to give an iPhone app as a gift.  The tempo watch as a gift to a 21st century conducting student will show up as quaint, and depending on your relationship with him will be either endearing or eye-rolling.  You'd do better to give him a nice baton (though personal preference for length, weight, etc. can be difficult to predict) or a briefcase.  ;->