Hi guys after a few weeks of searching I've managed to find a Speedmaster 145.022-71. Overall I feel that the watch is in a good condition except for the little nick next to the 500 mark on the tachymeter and that the chrono hand doesn't fully reset back to 12 o'clock. I can live with nick on the tachy, but what about the chrono hand? My local watchmaker tells me that a service typically costs around $300 should fix it, but he can't be certain until he physically inspects the watch. I'm just afraid that the service might be costly.

Has anyone encountered such problems with their watches before? How much did the repair cost?
Any advice would be greatly appreciated.

Here are some photos from the seller.

 

Hello,
It's difficult to say what the problem is / if it's an easy fix or not just by looking at one picture.
Usually, 861 powered speedmasters' services are not that expensive, since the parts are readily available. Usually as well, when a chrono seconds hand is misaligned it wasn't adjusted properly in the first place, so a service by a good watchmaker should solve the issue.
You need at least a movement shot though, if you plan on purchasing the watch.
Other than that, the watch looks well used but not abused, it has a nice patina apart from the hands that suffer a bit of paint loss. It all depends on the price.

 

Here’s a pic of the movement. Price wise, he’s willing sell for around $3.5k.

 

The price seems to be within range these days. I'm having my -76 serviced right now and it's $350 to get it back into order. Mine did not have the chrono creep, but that seems to be pretty common.

 

This is actually not an example of chrono creep - the sweep hand has just been applied off-center. Chrono creep is when the braking mechanism for the 12-hour register is not doing the proper job of holding the hour recorder in place, thus it acts as though it is perpetually running but can repeatedly be reset.

To fix this problem, one doesn't need to fully service the watch. The hands just need to be removed and then replaced at the correct position. However, it is better to go through with a full service if the service history of this piece is unknown.

 

I just had my 1990s Speedmaster serviced for chronograph issues (at first it wouldn't reset to 12, eventually the reset button wouldn't work at all) and it was $350, which included new parts and a full service. Costly is subjective, and when you buy a vintage chronograph you need to expect that they may require servicing in that ballpark (and potentially much higher depending on age, manufacture, and the specific movement) both right after you buy the watch and every 3-6 years thereafter if you plan on keeping it.

 

The movement looks complete and clean. Assume it needs a sevice, and that it will cost around 3/400$. If you can negotiate the price a little bit to factor this in, it will be a buy.

 

It appears to have a beautiful dial with very nice patina. Good luck with the purchase.

 

Something doesn't look quite right with the pushers.

 

The pushers aren't screwed on correctly and the chrono seconds hand needs to be reinstalled, but for 3.5k it's pretty nice and those two issues are easily remedied during a standard service.

 

Where are people getting an 861 fully serviced for $350? That wasn't even the labor cost when I had mine done, let alone parts.

 

I'm with @rcs914 all watchmakers around me want $600+ to service one of these.

 

For me the base service cost is $350. I haven’t gotten the full bill yet. I expect it to be $400+ depending on what was needed.

 

An independent shop in the Chicago suburbs. PM me if you want the details.

 

Considering that a set of pushers is $110 alone (or was a year and a half ago), it may be a bit more than that.

 

Why is it when a noob asks about buying a simple three hander Omega the standard reply is to factor in $3/400 for a service, yet people here are now saying they can get a Speedmaster serviced for $350?

 

Well, maybe that's just because people can get the base movement serviced for 350. I don't see why there's any reason to doubt their claims if they've been able to get a service at that price themselves. ¯\_(ツ)_/¯

 

Some smaller shops in less-expensive areas are still around that price point for a chronograph

 

Agreed. I've converted quickly from eur to usd, but I've found in Paris 2 watchmakers that serviced my 2447 Carrera (Valjoux72) for 350e, my 105.012 (cal321) for 250eur and my A386 (El Primero) for 250 as well. Obviously this is without parts, which cost a lot for these movements.
Bear in mind that not only these guys are very well renowned, but also that Paris is one of the most expensive cities in the world (I've been quoted 750e for a service without parts)

 

Not many places advertise their prices but Four Crowns in LA says $395 for a vintage Omega chronograph service. I haven't had any work done there but they are pretty well regarded by the Rolex folks.

http://fourcrownsservice.com/omega-service-pricing/