I think you might well be concerned! In numerous places on the mechanism there are signs of RUST, I suspect moisture also got behind the dial, something rusted, and the water bled out around the seconds hand, and onto the dial! If you could buy it cheap, then take it to a watchmaker and see how bad the rust is, maybe. If you liked the watch well enough to spend a packet putting everything right, it has possibilities. But it might take years and a lot of money to locate and restore a donor movement, and the dial may be permanently stained. Let us know what you decide to do.
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