Hi
I am considering buying a Portuguese 5001 which is in excellent condition but you can't adjust the time (which obviously presents a bit of a problem) When you pull the crown out, you can change the date okay, and hand wind the watch but you can't change the time, the hands won't move. Does anyone have any idea what could be the cause of this problem and any idea if it is expensive to fix. (the price of the watch will need to reflect the repair costs)
Quite honestly, I don't know why you would consider buying a not rare watch known to have a problem when you are unsure how much it will cost to fix.
The 5001 is seen for sale on pre-owned watch sites or at dealers with some regularity. There are often lightly used watches in great operating condition available. Even though you are in Australia, which may limit availability, with a little looking you should be able to find the piece you want. In fact, I saw pieces in both black dial and white dial from known collectors posted for sale at attractive prices just yesterday.
Given these facts, personally I would not buy a watch with the problem you described.
The 5001 has a 3 position crown.
1 closed and only winds up the watch
2 moves the date only.
3 Alters the time, never alter the time backwards between 8pm to 3am.
Think that might answer your problem.
I think to change the date between those hours isn't recommended either.
If the setting function really doesn't work, I think the best practice is to overhaul the movement rather than just try to address the problem. There may be other or related problems. A complete overhaul changes the dynamics about whether the watch is worth purchasing.