The photos are absolute crap so hard to tell what it is, but it looks to be in pretty rough shape. It might be the pictures, but it looks like a worn-gold plated-down-to-base-metal watch? Also, the crystal is pretty bad, probably beyond what you'd want to do with polywatch.
Anyway:
Strap: worthless.
Watch itself in 'fresh-serviced' condition is worth ~$600 in great external shape. Based on the photos, I'd say its worth $400 in fresh-serviced-fully-functional condition.
It isn't possible in the pictures to see what it is missing, but I'll bet you need crown + stem. HOWEVER you probably also need some work done (even parts!) on the keyless works thanks to the fact that the crown/stem fell out. Additionally, just based on condition/that effect, I'd say it needs a full service, plus probably quite a few parts. SO, to get up to that $400 or so, you need:
1: crown + stem: Looks like you'll pay about $75-80 for one of these in 'well used' condition, figure an even $100 minimum for something nicer.
2: Crystal: Generic crystals are about $30, probably pay a watchmaker ~$50 to do so.
3: FULL Service: A full service on this is going to start at about $300. I'm guessing based on its condition that it'll need parts, so probably at least $100 in parts, maybe multiples of that.
SO to answer your question: The max this watch could be worth is ~$400. In order to do that you need to spend $75 + 80 + 300 = $455. From that analysis, I'd say this watch is worth about NEGATIVE $55.
IF you were a watchmaker/did repairs yourself, you could obviously save $350, so a hobby watchmaker might be willing to spend ~$150 on this at most, but for that, you'd need much better pictures.
SO: $386 out the door is, IMO, a VERY bad deal. You overpaid by about $500.
