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I don't know the specifics, the Costco policy is pretty insane. Pretty much as long as you retain the reciept they will accept anything forever (except computers, I think they limit them to 6 months)... There have been stories of people bringing in obviously worn and used gas grills, etc and they still accepted them.
Check the fine print for yourself, but I'm pretty certain you'd be able to get away with returning a sized watch or anytime during the warranty period if something happened.
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