A multispeed winch or gear box wherein an axially-movable gear located on a shaft parallel to the drive shaft is movable by operation of a lift mechanism to be in a first position in engagement with a specific gear train or in a second position out of engagement with the gear train. Further, the winch or gear box can have a gear on the drive shaft with a lip or shoulder which can retain the axially-movable gear in the upper or first position after the lift mechanism has moved the axially movable gear to the first position, and the lift mechanism has been withdrawn. This arrangement will permit the gear box or winch to automatically shift from first speed to second speed to third speed upon reversal of the drive shaft rotation.