Just talked to the jewellers about my watch (Omega Seamaster Cosmic 2000). Not good but not as bad as I thought. I got a letter from them saying that the service would be £187. This was about £50 more than I had hoped. After the chat I am a bit better about paying that much as £40 of the extra is a new glass, the current one is scratched. The other £12.50 is an extra charge as they have to send it away to Omega's historic watch repair center as the model is now old enough (30-40 years) that it has to go the special workshop. Ho hum. It will still take another 6-7 weeks to get back.
A good watch is a excellent gift to get as a graduation present, but it does come with reasonably high running costs.