The watch is, the bracelet, no. The mechanism in the watch was produced by Aegler in Switzerland. The firm was associated with Rolex and Gruen. That movement was produced in a number of grades, and it was used in many different models. My guess is that it would be from the 1940s or early 1950s. Case is marked 18 karat (.750). I have a watch collector’s guide which shows two nearly identical models with slight variations in the dial. Exact? You likely never will find one exactly like it.
I have a vintage Rolex with the same movement. The same, except mine has 18 jewels (not 17j, and it is a chronometer, adjusted to six position, temperature, etc. It looks nothing like the subject watch. So the subject watch would not be considered rare, because these are around that are 90% the same. Nice watch, anyway.