What is the value of this pocket watch?

Without detail about the metal it's a little hard. Because it has genuine leather. . . well at least I think it is, that makes it worth more. In addition it looks like something that was out for a limited time, obviously seeing as you can no longer find it. It's used though. I believe it's worth 50$ but you could take on 15$ because it's a pocket watch and it looks sick!

It's pretty much worthless.

Eddie Bauer is not a collectible watch brand, and there is nothing special about the mechanism which can be from any one of many different manufacturers of no special significance.

There's nothing wrong with them, but they're just a fashion brand made as cheaply as possible (although that does not mean cheap 'n nasty) and are then sold at a high profit for the company.

If the watch battery has expired then it truly is utterly worthless: fitting a replacement battery simply to find out whether it works costs more than the watch is worth.

Enjoy it, use it, and when you're bored with it donate it to a thrift shop if it's still in good condition where they can get a few dollars for it towards a good cause.