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I am very impressed with the level of collegiality and depth of information that is being provided to me (a new member) on this topic. As an update, I purchased the watch on eBay and it was represented as having been cleaned and oiled. When i received the watch it indeed looked like it had been cleaned and oiled in terms of appearance (a beautiful two toned movement in a display case!) The regulator pointer was right in the middle of its range as expected. When I timed the watch it was clear that something was amiss in that it ran at least 15 minutes slow over a 24 hour period. After integrating the information that this forum provided I decided to return the watch to the seller today after informing him that the watch was not as represented. Perhaps that’s a cop out but I felt that the problem was one that was beyond my skill set at the present time and discretion was the better part of valor. The upshot is that I am now looking for another watch of the same ilk and am immersed in the videos from the course and other related materials (ie Henry Fried’s book).
I don’t want to stop the conversation on the topic of regulation. Let me say that I don’t think the problem I described was related to cleaning. It could very well have its roots in the adjustment of the balance screws or some other flaw like a cracked jewel or broken pivot or incorrectly pinned hairspring. (There was no discernible wobbling of the balance or other pivots that I could observe with a loupe.) My sense is that normal operation of a railroad watch of the Bunn Special 21J variety should lose/gain no more than 30 seconds to a minute over a 24 hour period. Is this correct?
Regards
Michael