I'd bet its not fake, its a genuine Omega, but given the external appearance I would assume the movement is water damaged, it may be running but its likely a proper money pit you'd best walk away from. Sure its "cheap" at $320, but you could spend enough bringing the movement up to standard and correcting the face to pay for a mint example and have enough left over for a bottle of bubbly to celebrate...
Or, it could be perfect inside.... you roll the dice, you take your chances...
I'd walk...
quickly...
without looking back...
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