Here's a site to help you. Pretty interesting. In the 50's they started a date code that was added to the back - L3 - is 1953. Click on the links on the site.
Determining the Date of Bulova Watch
United Kingdom: Bulova UK Ltd, 8 Woodshots Meadow, Croxley Green Business Park, Watford, Herts, WD18 8YU United Kingdom, phone +44 (0) 1923 226936 or +44 (0) 1923 236576, email [email protected]
contact the service team directly
they cost about $60. they are cheaply made throw away dress watches. you didn't get ripped off. you just wasted your money on cheap chineese garbage, you are not alone.
wear the watch, throw it away when it stops or you don't like it anymore.
I have the exact same issue with the minute hand resting at the 1 minute mark and now I have condensation under the glass. The watch is only 2 months old so I think I will return it.