QUICK ANSWER
New Old Stock watches or parts that remain unused and unsold since manufacture, preserved in original packaging and highly valued by collectors.

NOS watches are technically new since they've never been worn or sold, despite their age. However, they may require servicing due to lubricant degradation over time. They're valued for their originality and time-capsule condition, especially for discontinued models.
Yes, most watchmakers recommend servicing NOS watches that are decades old. Lubricants dry out over 5-10 years, which can damage the movement if run without proper lubrication. Servicing ensures the watch runs properly without causing wear or damage.
Original manufacturer warranties on NOS watches have typically expired, as most warranties are time-limited from the date of manufacture, not sale. Some dealers may offer their own limited warranties, but vintage NOS pieces generally sell as-is.

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