I understand .I'd say late 60's or early 70's. Allaine was a generic watch brand - using decent Swiss movements such as Felsa. They turn up in here from time to time eg: http://forums.watchuseek.com/f11/help-need-opinion-advice-allaine-ive-bought-589866.html
We don't give valuations in here - but have a look on ebay's completed listings to see what similar watches actually sell for. Yours looks to be in very nice condition, but brands like this aren't hugely sought after.