I, like most, had originally started with the thought I would buy one "good" watch—in my case, a fairly entry-level Seiko skin diver (SNZH57)—that could conceivably pass muster for most circumstances wherein a wristwatch is appropriate. That gave way to a more robust diver, then a quartz chronograph, then a dressier manual-wound chronograph, then a variety of vintage pieces, a GADA day/date, a proper field watch, an even more robust diver, a GMT, a variety of late-model HAQs, usw. Nothing extravagant, all reasonably priced at time of purchase, and some excellent deals on the whole, but, goodness, these things have the tendency to accrue!

Point being, don't feel the need to limit yourself to a fixed number of slots in a box, or settle (as it were) for a "one watch" approach to collecting. It's a journey, and you'll find your own way in time.

It is entirely possible to have vintage repairs done via Grand Seiko proper—e.g., https://thegrandseikoguy.substack.com/p/servicing-a-vintage-grand-seiko-at—but it may not be the most cost-effective route, though it does appear to be simpler these days.

Depending on what needs doing and what movement you're dealing with (thinking it's either a 57GS or 44GS, based on the production year), it may be possible to have it serviced by a local independent watchmaker, with the caveat that you would potentially need to expend no small amount of time and effort to help track down replacement parts if/as needed. NOS bits and bobs for vintage JDM models are in short(er) supply the further afield you go, so entreating the Home Office might be your best bet if that sounds like a bother. "Anything worth doing is worth doing well," etc.

One day, someday. 🤞🤞

Alba Estate V701-5000, dating to the early-to-mid 1980s. Quartz movement, ±20 seconds/month.

Alba is a subsidiary of Seiko known for making affordable watches in a (staggeringly) wide variety of styles.

Might be worth some digging to see if anything similar is currently available, which could give you a reference point for the asking price of the watch shown here.

https://www.albawatches.com/

Given the sheer quality of their movements and the finishing of their cases and dials, I'd argue that they have consistently offered better value than similarly priced offerings from other manufactures.

As for branding, I honestly wish they would go back to the double-badged setup, e.g. below. It's a Seiko, and damned proud of it.

I don't know that there would be an equivalent, per se, at least not in terms of case finishing. (And I don't know anywhere near enough about vintage Omega calibres to compare them to their contemporary Seiko movements!)

From what little I could find, Omega's 1974 catalogue featured only a single 14K yellow gold pocket watch, available with either an open or hunter case and featuring either applied baton or printed Roman indices.

http://www.old-omegas.com/caten74.html

It utilized the cal.601, a manual offshoot of the earlier cal.550. Balance cock, 17 jewels, 48 hours reserve power. Nicely finished in the Omega style, and doubtless a solid runner.

https://watch-spares.com/watch-parts-branded/omega-calibre-movement-and-spare-parts/omega-601/

As for the innards of the 36LM, Seiko's 5740C was the third evolution of that series: balance cock, 23 jewels, and cranked up to 36,000vph for good measure. The original 5740A ran at a standard (for the time) 18,000vph; the 5740B was equal to Omega's cal.601 at 19,800vph. (No attestations of chronometry were provided for either Omega or Seiko, but they were presumably regulated to company standards.)

Further reading, Martin Cockett over at Adventures in Amateur Watch Fettling has a rather thorough review of the earlier, low-beat 5740A, and he posits that it was essentially a slightly de-tuned 3180 (the movement used in the First Grand Seiko). It's no show pony, but it sounds like it does the job and well at that.

https://adventuresinamateurwatchfettling.com/2021/04/12/seiko-lord-marvel-5740-1990-from-june-1964-a-de-tuned-grand-seiko/

Seiko still offers a version of this watch under their domestic Dolce line—e.g., the SACM150; different case shape and handset, but similar proportions and overall aesthetic—though current consumer tastes have doubtless led them to keep their total number of dressy, affordable quartz SKUs relatively trim. Likely better margins on the high-end mechanicals from Grand Seiko and Credor, and the nudge up-market has left the department store jewelry counter wares (such as this) to rot on the proverbial vine. A shame, really, but so it goes.

By comparison, Seiko's 1986 catalogue (vol.2) was 190 pages long(!) and featured hundreds of visually similar watches spread out across dozens of sub-brands. Truly something for everyone and every budget, but likely far more than was ever realistically needed. The paradox of choice, etc.