Afternoon all
The 1511 is an excellent choice, it is the rarer of the two watches, this information (written by yours truly) will hopefully help:
https://en.wikipedia.org/wiki/Omega_Marine_Chronometer
So, things to look for on 1511:
1: Make sure there is plenty of meat on the case and the bezel (the bezel detaches on these unlike the 1516)
2: Make sure the serial plaque on the front matches the movement number
3: Make sure the bracelet is nice and tight, these are notorious for stretching and interlinks are now £14 each and you will require 20 to rebuild, its a long and painful process to do this work too.
4: Movement: this is the key, it should be keeping accurate time to around one second per month, anything like 1 second per day or one second per week is an indicator of either circuit or motor issues
They are amazing watches and bulletproof, my 1511 was serviced 8 years ago and has a battery every year and is accurate to around 8 seconds per year at the moment.
Ball park for cost:
Good/ reasonable original 1511 with no box and papers and running (correctly): £2200
Good/ reasonable original 1511 with box and papers and running (correctly): £2500 - £2700
Mint example with box and papers: £2750 - £3250
Mint example with box and papers and recent service with known history: £3250 - £4000
Servicing:
Basic service at Swiss Tec (division of STS and the only place world wide who now carry spares and will service, including Omega): £750 + VAT
Replacement circuit: £450 + VAT
Replacement motor: £450 + VAT
Hope this helps! These are my favourite watches and such an important part of Omegas and the Swiss watchh industries history, yes they are quartz, yes they are no cheap to service but man are they awesome.
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