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It's highly unlikely to be English since the Waltham Watch Company was American, trading from 1850 to 1957. I searched online for this company, getting the information from Wikipedia. See http://wikipedia.com/
Check to see if your watch or one closely resembling it, is for sale on Ebay. This generally gives an idea of value, at least in terms of resale and value. Watches, other than Rolex and very high end types, don't have very good resale value. Of course, all of the value may be in the diamonds or 14K cases, no matter who is the maker.
Get a copy of the "Complete Price Guide to Watches by Cooksey Shugart", and check out pricing for thousands of watches. I've found that many of the common Walthams and Elgins for that series will be valued between 75-250.00 for standard production runs. If the watch is rare and has a 14 k or 18K gold case, then the sky is the limit, depending upon condition and the actual weight of gold in the case, and/or movement.
If you go to the web site "www.antique-pocket-watch.com/waltham-pocket-watch.html", you will find information about Waltham watches and if you read the serial number off the movement (open the back and read it off the back plate), you may be able to find out the year of manufacture.
Ebay often has these for sale; one I also inherited in an 18K gold 'hunters case' (closes from and back) even though perfectly working after a retired jeweler brought it back to life, turned out to be more valuable for its case than anything else.
I've seen similar at swap meets/flea markets in plated cases for as little as $70 and still ticking.