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Sorry to hear about this Sally. I would check if the jeweller is responsible for making good the loss. (I am a lawyer in the UK where there are special rules for goods deposited with people like jewellers.) Or are you claiming on your insurance?
Although you are looking for a comparable watch, is this because you particularly liked it? Sadly it will never be the same one as you lost as it was not the one passed down the family. Maybe you could consider choosing another one (even a new one) which is to your son's liking to start with a new family heirloom. Just a thought.
As for value, surely the best person to produce a valuation is the jeweller who saw it. Failing that, another jeweller using your best description. If your insurance policy allows new for old cover, then the nearest equivalent watch on the present day market could be used. (I lost a camera some years ago which cost about £100. When I asked the shop to provide a valuation for my insurance claim, they provided a certificate saying that the particular camara was no longer made, and they quoted for the nearest new equivalent. I ended up with a £400 camara as a result.)
As for replacing the watch itself, I don't suppose there are any photos? A more detailed description would be useful.
Are you in the UK? I happen to have a gold Omega watch from the 60s from the UK but it does not say "Seamaster" on it, so it not one of those. There were lots of these watches shipped over from Switzerland without cases and the cases were made in the UK instead.
You could look at -
http://www.swisstimeservices.com/preowned/html/thumbnails.html
for some examples of properly maintained vintage Omega watches and their prices. Avoid taking prices from places like Ebay where there is no guarantee of quality etc.
Good luck in your search. I am sure if you give more information, one of the real experts here will give you some pointers.
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