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I am also new in vintage watch. since you mention 5 digits being a vintage, however, I know quite a bit here. I used to collect 16520 for a while. Personally,I wont consider it as vintage, but a lot of people do consider it as such.
First, Variation.
There will be a lot version of the same watch beyond material and color. In general, the 16520 has many version like floating, 4 lines, inverted 6, fat six, regular 5 lines. Even these versions has its own sub-version. Eg. The floating daytona has the legendary porcelain, the regular floating, and a few floating with 400 bezels
Second, Condition.
The 4C in vintage watch is Condition, Condition, Condition, and Condition. I think this is self explanatory.
Third, originality of the parts
This shall fall under the Condition, but a good looking watch doesnt always mean it comes with all period/version correct parts. For this, you need experience or/and trustworthy dealer.
To answer your question regarding box and paper. Full set watch is great, but CONDITION of the watch is way more important.
Replica do exist in vintage, but you can learn to distinguish them. I have seen more frankenstein watch than replica tho.
If you prefer auction house, phillip and monaco legend are also legit. Be aware of the buyer premium tho. Unless you are looking for some godly relic watch like the 6269 or chairman, vintage watch dealer is preferable. Craft and Tailored is based in LA. If you are down to fly to HK, I recommend Vintage Concept.
Servicing is the trickiest one. You should look for a vintage watchmaker. and DONT ever submit vintage watch to RSC. LIKE EVER!!!! unless your vintage watch is like new NOS. Otherwise there is a high chance that they will replace parts of the watch.
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