Found an eBay auction with the same watch for sale
JACQUES LEMANS Swiss Automatic Chronograph Watch 1-1170 - eBay (item 220676343536 end time Oct-29-10 11:43:05 PDT)
From the display back, I can see the movement is indeed Valjoux 7750. Which puts the value around $400~500 used, in good working condition. 7750 is the most popular mechanical chronograph movement on the market now. They are widely used in many brands, both high end and entry luxury brands. A very well tested movement.
Some good background info
The Valjoux 7750 Engine
I dont know much about the Jacques Lemans brand. But it seems to be something rather new. It does have Swiss Made marking on its dial. Which means you are looking at components of Swiss manufacture that account for at least 50 percent of the
total value of the watch, without taking into account the cost of assembly.
In the real world, that means the OEM factory who made the watch probably sourced the parts, and assembled it and labeled it for Jacques Lemans in Switzerland. Quality in general will depend on who the real OEM factory is. But do know that since the Swiss Made rule rule applies to total value of components. It is likely that the case, crystal, spacer and many other parts in the movement could be Asian in origin.
Regardless, it is a great looking piece with a good work horse movement if you can get it for the right price.
Best of luck