Inconsistent performance

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I am relatively new to the world of Omega, but have a 1962 Seamaster, Reference 14701, Caliber 562. I have identified 3 primary issues and I would love to tap into the expertise across this group, if possible:

1) I find that it gains and loses time (up to 5 minutes both ways) during the course of a day

2) After a full day of wearing the watch, the battery reserve is often less than 3 hours

3) If I find that the watch has stopped, I reset it, strap it on my wrist, and go about my way. However, almost 100% of the time, I find that I have to reset the watch again. It reminds me of a child who refuses to wake up from a deep sleep until you shake them for a second time!

I have been told that, often, these watches become magnetized. That is something I know very little about and the information found on the internet is often contradictory and/or confusing. Any help or guidance would be greatly appreciated. Thank you in advance.
 
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Are you fully winding the watch?
 
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Nice looking watch. Find independent watchmaker with Omega parts account and have it serviced.
Yours truly,
Captain Obvious
 
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Wind it manually until it is fully wound (e.g. 30-40 turns of the crown) before wearing it, and see if that helps. BTW, the watch has no battery.
 
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Apologies if my comment came across as snarky. It’s a nice watch and I think proper service is your best course.
 
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When recently has the Omega been serviced? In your opening post you mentioned “battery power reserve”. Explain please.
 
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When recently has the Omega been serviced? In your opening post you mentioned “battery power reserve”. Explain please.
The fellow means "power reserve" obviously ..
 
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Mechanical watches can develop issues (quite easily, such as if they're dropped or parts are old and need to be replaced), which can cause issues such as the ones you're experiencing.

The resolution is to get it serviced by a competent Omega vintage watch servicing centre.
 
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It’s a nice looking watch.
If you post where you are, someone should be able to recommend a competent and reasonably priced watchmaker to service your watch
 
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The fellow means "power reserve" obviously ..

@malilis

I was asking the owner of the subject watch what he meant by “battery power reserve”! But thanks for your interpretation. It was a big help! 😁
 
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Are you fully winding the watch?
I was advised that this model was automatic and self-winding with wear. In the ~6 weeks that I have had the watch, I have never wound it using the crown. I'd like to know more. Thanks!
 
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@malilis

I was asking the owner of the subject watch what he meant by “battery power reserve”! But thanks for your interpretation. It was a big help! 😁
I did, indeed, mean reserve power. Sort of like using the term sex when you mean gender. Sorry, gents! 😀
 
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It’s a nice looking watch.
If you post where you are, someone should be able to recommend a competent and reasonably priced watchmaker to service your watch
I would like to know of any competent watchmakers in the Charlotte NC area. The local jeweler who represents Omega practically hid behind the desk when I asked about their servicing capabilities with this model. I was a little shocked at their reaction, truth told.
 
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I was advised that this model was automatic and self-winding with wear. In the ~6 weeks that I have had the watch, I have never wound it using the crown. I'd like to know more. Thanks!

30-40 or so full clockwise twists of the crown (you can't wind it too much and counterclockwise twists won't hurt it) should charge the mainspring sufficiently that arm movement throughout the day should keep it wound. I always wind mine a bit when putting on in the morning just for good measure. All this being said if the service history is unknown, it's probably time.
 
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As noted, it is recommended to manually wind an automatic watch initially, if possible.