Probably produced toward the end of Gruen as a watch company. So, not old, or even vintage, for that matter. I’d say possibly mid to late 1960s. The movement has only 17-jewels, so none of the automatic winding components are protected by jewelled bearings. That can mean that, while the going train might be in good shape (the part that keeps time), the automatic winding on such watches is often worn out! Be prepared for a substantial outlay to have it serviced, and if parts are required, expect to spend even more! Older automatics often require manual winding to keep them running. That being the case, buy a manual winder instead. Value? If you like it well enough to buy it, the purchase price is worth it……..to you. Value is a personal matter.
