Dear IWC-Friends
Normally I do not comment threads of this style, I do it this time just to give an impression of the cost to restore a watch.
Everybody could do it by its own, when he has enough time. In the factorey it has to be done in approx 12 hours (of worktime)!
To sumamrize:
In Switzerland the "labor cost", with the ovrehead and the workplace, is charged by about €1000 a day (or about €120 per hour). This is mostly independent if you bring your car to a garage for service or ask an engineer for software changes, or a watch maker to repair a watch. (OK there may be some differences but if you calculate with €100 or €150 per hour does not realy affect the total, the main 1'xxx resists for a restoration)
If you think you can put to parts a movement, clean all the parts put it together to see if it runs, if not find or adjust the bad parts, clean again the parts, put together again, oil the movement correctly, control the accuracy in various positions, clean the case, repolish or brush the case, correctly set the hands to the movement, put into the case the movement again ....
In less that 12 hours, you can do it by yourself. (OK, maybe you don't have the experience)
It is the same as repairing a PC, Most people buy a new one when there are problems, because the cost to find out what is wrong, fixing the problem and reinstalling the OS takes more time is costs more than new PC you buy in the discounter. OK maybe when you have a more sofisticated PC, it makes sence to repair it.
The same with an IWC. You can get it repaired by the factory.
A cheap PC you bring to your friend trying out to fix it, the same with a cheap watch (or not so valuable vintage piece), you can bring it to the watchmaker at the corner, maybe he can fix (oil) it, and it runs for an other 6 Month....
When you have many old watches, maybe you do not want to ear every watch, so it is also no need to have repaired every watch, you just love it to collect it, and keep it in the state you got the watch.
Kind regards
Ralph