It looks gold plated or maybe even gold filled.
Judging by eBay sales and what I'm seeing in the watch photos, I wouldn't bet on this watch being much of a high price seller either.
It probably isn't going to be a collectable either, but I'm sure someone would appreciate it.
If you really want to get into collectables you need to know what IS exactly collectable, usually models produced in lower numbers are collectable, such as the silver snoopy or Ultraman Omega speedmasters.
Vintage watches can be collectable, but they tend to be the ones like the Ed White Speedmasters, which can reach quite high prices and aren't a good place to start.
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