Should i blow the money to collect and restore Seiko 7002's? - Seiko & Citizen Watch Forum – Japanese Watch Reviews, Discussion & Trading
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Old 02-27-2011, 05:52 AM   #1 (permalink)
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Default Should i blow the money to collect and restore Seiko 7002's?

Seiko 7002 and 7S26 are the most popular diver models here in the Philippines. so should i blow my money to buy and collect Seiko 7002's? they are pretty cheap here and i can get a "fleet rate" if i can buy lots of seiko 7002 in a snap. >
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Old 02-27-2011, 06:52 AM   #2 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

Not a good idea imo because they dont have a big following amongst collectors so flipping them may incur a big lost for you down the road.

But if you want to get a few good ones for your own collection just for your own collection maybe you can sveral of them and mix and match the better parts to enbd up with a good example.

Just my thoughts of course.
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Old 02-27-2011, 08:50 AM   #3 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

If you come across a perfect example of each send them my way! They are the next two I am after.
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Old 02-27-2011, 09:08 AM   #4 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

Simple answer: NO
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Old 02-27-2011, 09:24 AM   #5 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

Quote:
Originally Posted by jack_iww
Simple answer: NO
But, It is your $ and interest.
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Old 02-27-2011, 10:18 AM   #6 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

But if you like them for what they are and not for any value they may have or not have in the future then why not ? we all have our own individual tastes and what turns one guy on does not necessarily turn another on, basically it is YOUR decision which counts.
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Old 02-27-2011, 10:26 AM   #7 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

Simple answer: YES!

Relatively seen, If you can get 10 mint and all original pieces and store them for 20 years, you'll be ok A lot of vintage watches that are wanted today, weren't back then. Even the fact, that a watch was sold in large numbers isn't a problem. Many watches that were expensive and more rare back then, are treated better, so more pieces have survived in good condition. But (as also seen in the world of coin collecting) pieces that weren't rare and were cheap, are (ab)used to the max. So relatively not so many mint 7002's will be around in the future.

So the fact they aren't yet wanted very much today, doesn't say anything for the future. So if you can find some mint ones at a good price, why not.

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Old 02-27-2011, 11:32 AM   #8 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

If you have to do extensive restoration, then the answer is no, as you are likely to never get you investment back. If you can source a 7002 in excellent original condition, for a low price, then go right ahead. Do not buy any watches expecting to make money on them.
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Old 02-27-2011, 12:39 PM   #9 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

Quote:
Originally Posted by jack_iww
Simple answer: NO
Simple indeed.
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Old 02-27-2011, 01:00 PM   #10 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

Quote:
Originally Posted by jack_iww
Simple answer: NO


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Old 02-27-2011, 03:41 PM   #11 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

Rather than continuing to repeat a comment that teaches the person asking nothing, please post an explanation with your opinion and tell the Op why you think the way you do.

Maybe in that way others who might want to know will also learn something.
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Old 02-27-2011, 06:57 PM   #12 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

The intrinsic collector value is not present in this particular model compared to other Seiko dive watch models and probably never will be. Unless as one poster pointed out you can obtain an example that requires no maintenance to be presentable, at a price of $100-$150, I would against spending money on restoring these.


JMHO but as another poster pointed out, it's your money.





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Old 02-27-2011, 07:03 PM   #13 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

Quote:
Originally Posted by Isthmus
If you have to do extensive restoration, then the answer is no, as you are likely to never get you investment back. If you can source a 7002 in excellent original condition, for a low price, then go right ahead. Do not buy any watches expecting to make money on them.






if you find LNIB or just plain LNFC (Like New For Cheap) that's a good buy. Restoring them? Not worth it.



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Old 02-27-2011, 07:26 PM   #14 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

It's worth mentioning, that extensive restoration is not worth it AT THIS POINT IN TIME. As with anything, as they age and become rarer, that equation is bound to change, if for no other reason than they are part of the main line of the main seiko diver family (as opposed to a fork). When that will be is anyone's guess though.
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Old 02-27-2011, 07:46 PM   #15 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

A long time ago I was told to stay away from the 7002 series because they had no real collector value. So I bought one anyway. Not to make money on but to have in my collection. I am currently waiting on a 7002-0020, and I can't wait to get my mitts on it. Here is my 7002-7009 that I wear on a regular basis. So if you are a collector and want one for your collection, go for it. If your trying to "corner the market" and make a killing, well, you're probably making a mistake.

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Old 02-27-2011, 09:43 PM   #16 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

Quote:
Originally Posted by Isthmus
It's worth mentioning, that extensive restoration is not worth it AT THIS POINT IN TIME. As with anything, as they age and become rarer, that equation is bound to change, if for no other reason than they are part of the main line of the main seiko diver family (as opposed to a fork). When that will be is anyone's guess though.

I agree, and most eloquently stated concerning their impact on overall Seiko diver lineage. These are an integral part of the Seiko diver line. It is also the last of the large lume dot insert models and while this may seem like a small difference, it is the single biggest reason I dont appreciate the later 7S models more.


If you can find a nice excellent all original condition one, grab it, otherwise they are not worth the hassle IMHO...
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Old 02-28-2011, 11:50 AM   #17 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

I flip a couple of watches now and then to fund for my own collection and thus I found a NOS 7002-7000. I researched it and found it strange that only a few seem to want them. Maybe a different story if stored 5-10 years from now.
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Old 02-28-2011, 11:59 AM   #18 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

The issue with 7002a is that from a mechanical POV they are a HUGE departure from the prior 6309's. Seiko applied cost cutting measures to them like crazy, and many feel that they went a bit overboard. If not taken care of properly, many 7002's simply don't age well (just have a look at what seems to be an endless supply of 7002s redone with bad aftermarket parts coming out of ebay). From a technical POV theya re simply not as good as the SKXs that followed and not even in the same ball park as the 6309s that preceded them.

Now from a historical POV the picture changes. historically speaking, the 7002s are one of the clearest markers of the evolution of the seiko main diver line. Notonly do they mark the begining of clear extensive efforts at controlling costs, but they also introduce seiko's first efforts at using new material and construction technologies in order to achieve those cost savings. from a design POV, they are also the link between classic seiko diver design and modern seiko diver design showing both features from old school seiko divers and introducing several used in modern ones. Lastly the 7002s are the first to introduce seiko's modern approach of large differentiation within a single model line (a practice that was continued and expanded within the SKX diver line).

From a historic POV the 7002 is well worth collecting, as physical attributes aside, they for a strong piece of seiko diver history. Just make sure that if you plan on collecting them that the price you pay makes sense.
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Old 02-28-2011, 12:11 PM   #19 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

Quote:
Originally Posted by Isthmus
The issue with 7002a is that from a mechanical POV they are a HUGE departure from the prior 6309's. Seiko applied cost cutting measures to them like crazy, and many feel that they went a bit overboard. If not taken care of properly, many 7002's simply don't age well (just have a look at what seems to be an endless supply of 7002s redone with bad aftermarket parts coming out of ebay). From a technical POV theya re simply not as good as the SKXs that followed and not even in the same ball park as the 6309s that preceded them.

Now from a historical POV the picture changes. historically speaking, the 7002s are one of the clearest markers of the evolution of the seiko main diver line. Notonly do they mark the begining of clear extensive efforts at controlling costs, but they also introduce seiko's first efforts at using new material and construction technologies in order to achieve those cost savings. from a design POV, they are also the link between classic seiko diver design and modern seiko diver design showing both features from old school seiko divers and introducing several used in modern ones. Lastly the 7002s are the first to introduce seiko's modern approach of large differentiation within a single model line (a practice that was continued and expanded within the SKX diver line).

From a historic POV the 7002 is well worth collecting, as physical attributes aside, they for a strong piece of seiko diver history. Just make sure that if you plan on collecting them that the price you pay makes sense.
Very well said. With the 7002 diver, it's like Seiko said "How far can we push it with cost cutting while applying new tech?" The simple answer is that they went too far before they found out what the limit was, and found the balance that they achieved with the 007. The 7002 is obviously not far off in looks from all the others in the lineage. The reason people shun them is, politely put..the movements "leave something to be desired", as do the poorly made dials with their lime green promethium lume. I'm a huge Seiko diver fan, and I've had my little love affair with every other diver in the lineage except for the the 7002. Best advice I'd have?...If you want to have a collection that includes 1 of every diver to represent the evolution, then get one of each 7002 and call it a day.
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Old 04-03-2011, 09:58 PM   #20 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

This is my first post - been hiding behind the computer reading everyone's opinions for about a year and joined in June 2010. Collecting Seiko's for over 30 years. It started when I bought one of the first Seiko Lassales available in 1981 and still own it, it still keeps time as well as the day I bought it (paid $500) back then. Have gone through a 6309 lost it in Germany. I currently have several other divers new and old, including the 7002-0020. I wanted to have the lume fixed for several years. But could never justify the expense.


What Jake B and Isthmus have pointed out in this string on the 7002 series has been profound to me and has changed my mind on new additions to my collection. I will go with the new Seiko's I like and embrace technology.


Thanks for the best entrainment money can't buy.
Marvin



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Old 04-04-2011, 12:28 AM   #21 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

I wouldn't collect them, but if you like them, get a couple. I got mine from a forum member almost six years ago ($40), sent it to Ken Setser for a complete movement overhaul, then later installed one of Noah's sapphire crystals, and still later replaced the original green lume dial with a late run "Singapore" dial, and the hands with plongeurs. It has easily become my single favorite watch. It looks great, glows all night and loses 3-4 sec/day when worn, but gains back 3-4 sec overnight (dial up), for a net gain/loss of 0 sec. for days at a time (it will eventually drift a bit, but that's "real life timekeeping" that is better than many COSC certified watches). They may never reach the collectible status of a 6105, but they are definitely underrated.

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Old 04-04-2011, 12:56 AM   #22 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

I agree that if the 7002 is your interest, then go collect them. Whatever purpose you have for them in future is all up to you. But make sure when you buy them and blow your hard earned money, get a good, all-original example.

My 7002-700J given to me by my brother (see picture below). He gave it to me when he saw my other 6309 diver on one of my visits, and when I told him I collect Seiko divers, he went to his room and came out with the watch. Apparently it was given to him by his brother-in-law but he kept it in his closet all this while because diver's is not his thing. Lucky me!







Cheers from Singapore. ^-^
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Old 04-04-2011, 06:55 AM   #23 (permalink)
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Default Re: Should i blow the money to collect and restore Seiko 7002's?

The 7002 is in limbo right now...it is not old enough to be "classic", and is not new enough to be "current". I have been in this game a long time, and I remember 8-9 years ago when the same could be said for the 6309. Back then the 6105 was the diver people wanted, and very nice 6309s could be had for peanuts. Right now, the 7002 is just a used watch. But this may not be true forever.

While I don't expect the 7002 to ever be as coveted as the 6105 or 6309, mostly for the reasons that Gabe and others have so eloquently stated, I don't expect that they will stay at the prices they are at forever. Particularly if Seiko continues to trend upmarket and completely discontinues the entry-level diver line, which seems to be the direction they are headed in.

The 7002 is a fine watch in and of itself...I own several. It is certainly the "ugly duckling" of the Seiko diver line, but only because it is in the shadow of it's legendary older brothers. Let's face it guys, the 6309 and 6105 are hard to measure up to. I wouldn't put the reliability of the 7002 any lower than the current crop of 7S26-powered watches. Mine all run great. In point of fact, the 7S26 really isn't much more than a lightly modified 7002 if you compare them side-by-side. The main Achilles' Heel of the 7002 line is the weak lume they used, but that is not difficult to remedy. I think the rep of the 7002 would be much better if Seiko hadn't botched the lume. But they are still a nicely made, reliable, classic Seiko diver.

I say if you can get them cheap enough, go for it. There are worse ways to spend your money than vintage Seiko divers...even 7002s! ---A
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