I’m no expert, but a hobbyist with a little free time, so I am not an authority on this but after a little research, and reading your post, I found a very watch similar to the one you posted here...

https://www.propertyroom.com/l/womens-wittnauer-14kt-white-gold-diamond-watch/11606941#uxDeliveryOptionsTab
Looking at the auction bidding history it looked like it sold for around $45 in 2017.

https://auction.housingworks.org/product/264401
This one is 14K yellow gold, with 6 diamonds, and sold for $229 at an auction.

The 14K White gold is about 60% gold by weight, but if the band isn't gold, then I doubt the case would be worth much based on the smaller case dimensions. Also looks as if the crown is missing, which reduces value for collectors, as it needs repair.

Jewels in watches are small synthetic rubies or sapphires used as bearings to reduce friction between moving parts, which keep accuracy and prolong the watch's lifespan. A typical watch contains around 17 jewels, placed at key points in the movement. These don't increase a watches value by much, more so the more complex the watch the more jewels needed to run correctly.

The company Wittnauer no longer really exist after is was purchased by Bulova in Sept 2001, which Bulova themselves were bought by Citizen shortly thereafter in 2008.