Where to start

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I am new to collecting watches. One year in the books and have focused mostly on affordable value for money i.e. seiko, orient, etc. I purchased my first vintage Omega on eBay and took a shot in the dark. Won an auction for this seamaster cosmic 2000 for a couple hundred bucks. It keeps time , day and date work fine, and I am enjoying it, with all its obvious flaws. Right off the bat I was skeptical because the case back looked polished to the point where seamaster is barely visible and crown has either been replaced, or ground down to the point where it no longer looks in place. I have done a little research and know that the cosmic cases are difficult to work with, as the movement is only accessible when the case back is popped from air pressure or some other type of special tool. The gaskets look to be shot as the two portions of the case are no longer snug and wiggle when manipulated. So I doubt the pressure technique would work when disassembling. My question would be, is it a legit omega, and if so, what would be the first step in restoring? I’d like to get new gaskets, hire an expert to check and service the movement, and locate a suitable crown but just wanted some opinions on how to go about tackling my first vintage project. I realize it’s hard to tell without seeing what’s under the hood, so for all I know it could be a Frankenstein movement that’s powering the thing. But time keeping seems smooth as well as the day and date changing so .
 
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How much did you pay exactly and can you return it?

The issue is the gold plating looks like it is worn off in a few places.

its a legit Omega, and I highly doubt it has anything other then a legit movement.
 
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My advice: don't invest any more in that watch. If you like it, wear it. Learn from it and move on.

Almost everyone takes the same path. They first buy something cheap and crappy (or many cheap and crappy things), and gradually learn that they wasted their money and want to sell those watches to upgrade and consolidate. Selling those watches is a nightmare.

Let's see if you can break the pattern. Don't waste any more money. Buy something good.
 
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I’d see if a watchmaker can do something very inexpensive so that the back doesn’t wiggle. Unfortunately you can’t really do much to change the polishing — what’s gone is gone.

And then just wear and enjoy it.
 
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I agree with the comments so far - I, too, have a few vintage Omegas and if it were me, I would absolutely enjoy the heck out of the watch and only service it if something critical had to be done.

I've gotten quotes before on servicing my vintage Seamasters and the service quote has unfortunately always been more than I've paid for the watch itself.

For me, personally, I'm big on "value" - I don't necessarily want a 'project' watch to pour money into. I'm OK taking a gamble every now and then on a watch and hoping the watch is working OK and being very careful with the watch near water, etc. That's just me though.

All this being said - while I can't comment on the authenticity of the watch, it looks gorgeous. I love gold and vintage Omega - I would be proud to wear that watch.
 
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These have a very shallow back engraving to begin with so it doesn't take much wear/polish to make it even more faint.

The case is three parts, the bezel, center case and press in back. The center case assembly is held to the bezel by a simple o-ring which looses it's grip so to speak over the years, that's why OPs watch wiggles.