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Geoff, If you check out the Seamaster FAQ on the homepage and go to #7, I think that you'll see that your watches performance is still within the COSC acceptable ranges. I think, perhaps, these accuracy (or inaccuracy) results may be more due to our lifestyles (office,sports,etc) and the amount of winding the watch gets than actually a problem with the 1120 movement. If I were in your place, I would keep it for a bit before I returned it to see if it may simply be a break-in period. Good luck with your new watch!
Eric
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