If the dial and hands are OK there’s every chance the watch could be salvaged at reasonable cost. I’ve no idea what it’s worth, Id the OP quoted numbers that would help.
Water damage is a vague term there’s a huge difference between ingress of seawater and rainwater! Generally, the less time the watch spends with water in the better, ideally it needs stripping down without delay, particularly when seawater is involved.
Also, the underlying problem has to be resolved; why did the watch let water in?
Edit: The last water-damaged watch I fixed ended up on SC 3 weeks later after the owner almost pleaded with me to fix it cheaply, if that's the intention with this one I`m not interested.