Gold Chronometer, 1950s?

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I received my Great Grandfather's Omega for graduation. Wanted to know if anyone could help me find the reference number and value of the watch.

The chronograph function also doesn't seem to work properly, the top button starts the timer but when you click it again it resets back to zero and does not stop. The bottom button does not seem to do anything.

Wanted to know if it would be work getting serviced by Omega, sounds like that will cost around $1,100.

Here are photos of the watch:
 
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Beautiful watch.

I would not send it to Omega, if you say where you are someone will suggest an independent watchmaker near you with an Omega account who will do the right thing.
Service and oil, replace parts as needed.

By coincidence I just watched In A Lonely Place and Bogart was wearing something similar!
 
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I'd generally agree that sending to a reputable, independent watchmaker is the way to go but Omega might not be a bad option if the quote includes replacement parts and refinishing of the dial. It seems the dial has been refinished in the past so having it done again, hopefully to a slightly higher standard, wouldn't hurt. No harm in asking a local watchmaker for a quote and weighing your options - if you go this route, make sure the watchmaker outlines what s/he intends to do with the watch so that you can make an informed decision.
 
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Hi,

Not be pedantic but this is a chronograph, not a chronometer. The chronometer are watches that were certified to be especially accurate. Chronographs have a built in stop watch function, like yours does.

nice graduation gift!!!
 
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Well, you can open the case back and see if there's a reference nr written. Also, take a photo of the movement serial number. That gives you an idea of the year it was produced.
Also, this one has pretty bad redial. Should have something like this.
Can't suggest any watchmakers in US. Do not send it to Omega.
 
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Thank you for all the recommendations. I took it to an Omega boutique and they referred me to an Omega certified watchmaker to have it looked at first as the turnaround time could be 9 months or more. I had them take a look at it and they got the case back opened. Looks like the movement is a 321, reference number 2884. The serial number is 11481201.

Any ideas on how I can research this further?
 
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For help with your research, the more relevant serial number is on the movement, not the caseback. It appears to start 1599xxxx, suggesting late 1950s if I'm reading it correctly. OXG is the US import code, suggesting that this watch was delivered to the US market originally.
Edited:
 
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Your 14K gold case was made for Omega by Manufacture Favre & Perret SA in La Chaux-de-Fonds, Switzerland.