Usually if it is that far off it is magnetized or there is a problem with the hairspring. I would first check to see if it is magnetized. If you have an iPhone there is an app to check it.
Use a compass to check if the watch is magnetised. If it's not that the balance spring can get crossed over and a sharp blow onto the palm of your hand can often sort it. If it comes to this though do a bit of research before hand so you know how to do it best.
Thanks guys. I tried to demagnetize it and noticed the watch is still gaining a lot of time. I will research how to tap it to get balance spring properly aligned. Appreciate y'all pitching in with helpful tips.
Did you check for magnetization before demagnetizing? What did you use to demagnetize? Did you check for magnetization afterwards?
The hairspring issue mentioned was sometimes noticed with 7S27B movements, the 7S26A or 7S26C should not be affected. Even if you have a 7S26B, unless your watch suffered a blow in the first place, it's highly unlikely that the dislodged hairspring is an issue. Anyway, visual inspection can confirm this if needed be.
I did, probably a crappy compass. The needle did not move much. I went ahead and demagnetized it anyway for about 10 seconds and slowly pulled the watch away from demagnetizer. I checked the compass again and it gave me the same result. Watch still gaining time though.
But, I demagnetized it. Anyways, taking to a local Seiko dealer for free evaluation.
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