Watch is 10 mins per day fast when dial up

But on its side, the watch is about 20s per day fast. 

It's just an old Seiko 7S36 movement. 

The compass test doesn't show any magnetization, though.

I think it's not worth servicing this thing because the charge would cost more than the watch.

What do you guys think?

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Does the watch mean anything to you that would warrant spending more on it than the watch is worth?

If it's not fulfilling it's purpose and you don't want to spend the money getting it serviced, why don't you demag it yourself and have a go at regulating it. You've got nothing to lose. 

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Time to say thanks and retire it until it's worth much more,  then send 4 service.   

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What is a compass test? There are supposedly magnetization apps, but the degaussers are cheap and most places will just do it for free anyway.

But I think you can just swap in a new 7S26.

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OscarKlosoff

What is a compass test? There are supposedly magnetization apps, but the degaussers are cheap and most places will just do it for free anyway.

But I think you can just swap in a new 7S26.

Compass test is where you put a compass next to the watch and see if the needle strays from north to point at the watch

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It could be part of the balance spring being stuck together shortening it's working length & making the watch run fast 

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If you want to keep using the watch, based on what you've said the cheapest fix is a 4R36 swap. That's cheaper than a service on what's probably a worn out/damaged/obsolete 7S36.

Plus you'll now get hacking and hand winding.

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If it isn't magnetized, I would try the following advice I found online (so caveat emptor but FWIW, it worked for me after 2 tries): 

"If you watch is still running fast or slow by a large margin the most likely cause is that the mainspring may have gotten itself caught. To get it freed up try this: Place the watch on your palm with the crystal down and slap the watch. If this freed up the mainspring it should start keeping good time."

https://www.citywatches.co.uk/articles/seiko-automatic-watches-troubleshooting/#:~:text=If%20you%20watch%20is%20still,should%20start%20keeping%20good%20time.

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Rocketfan

If it isn't magnetized, I would try the following advice I found online (so caveat emptor but FWIW, it worked for me after 2 tries): 

"If you watch is still running fast or slow by a large margin the most likely cause is that the mainspring may have gotten itself caught. To get it freed up try this: Place the watch on your palm with the crystal down and slap the watch. If this freed up the mainspring it should start keeping good time."

https://www.citywatches.co.uk/articles/seiko-automatic-watches-troubleshooting/#:~:text=If%20you%20watch%20is%20still,should%20start%20keeping%20good%20time.

Tried it several times. No improvement. Thanks for the suggestion. I've ordered a demagnetizer.

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Jojocruz

Tried it several times. No improvement. Thanks for the suggestion. I've ordered a demagnetizer.

It's worth a shot, but I think if it were magnetized it would be affected in every position.