Hey,
I asked a friend of mine who owns a coin shop and deals with old watches, he said that if it is 18k white gold it can be worth quite a bit of $$$ considering that the company only made a few compaired to yellow gold back then, also with gold being almost 800 an ounce it should hold some very nice weight. I would check with a local watch dealer who deals in swiss made time pieces before getting rid of it if that's what you are going to do sometimes even if the thing does not work, the fact that its could be a rarity and gold at that fact could bring allot more than gold weight. Let me know if ya find out anymore on the watch, very interesting find!