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When the name IWC (International Watch Company) is mentioned, one’s mind inevitably turns to the Swiss town of Schaffhausen, the historical birthplace of the manufacture founded in 1868. But if there were only one iconic timepiece to retain among the many that mark the prestigious history of this house, it would undoubtedly be the Portugieser Chronograph that springs instantly to mind for discerning enthusiasts.

The reference IW371438, offered as a full set from 2012 by Mostra, perfectly embodies this perpetual quest for precision and timeless elegance that defines IWC. Its polished stainless steel case, generous yet harmonious in its 41 mm proportions, houses a deep black dial, almost mysterious in appearance. This exquisitely understated dial subtly reveals two vertically aligned subdials—discreet yet essential indicators of its chronograph function. The rhodium-plated Arabic numerals and slender hands contrast delicately against the dark background, ensuring perfect legibility in all circumstances.

But this timepiece is not merely beautiful; it carries the legacy of a saga that began in the 1930s, when two Portuguese merchants, Rodrigues and Teixeira, issued an unprecedented challenge to IWC. They requested a wristwatch as precise as a marine chronometer. Thus, the first Portugieser was born—a watch that, over the decades, would come to embody functional elegance and maritime precision, an enduring classic rooted in Swiss watchmaking tradition.

In the fiercely competitive world of high-end watches, the Portugieser Chronograph has established itself as a must-have reference, rivaling icons such as the Rolex Daytona, the Omega Speedmaster Moonwatch, and the Zenith El Primero. On the new watch market, it appeals through its subtle balance of sophistication and mechanical robustness. But it is in the pre-owned market where it truly shines, attracting savvy collectors with its remarkable stability—and even consistent appreciation—over the years.

This IW371438 piece, sold as a full set, is a particularly sought-after rarity. Owning this watch complete with its original box, papers, and accessories from 2012 gives it unparalleled authenticity and traceability—essential qualities for any watch connoisseur or investor. With its recognized expertise, Mostra offers not just a timepiece, but a carefully preserved slice of history, ready to continue its journey on a new owner’s wrist.

Wearing an IWC Portugieser Chronograph is thus far more than an aesthetic choice: it is embracing a living fragment of rich Swiss watchmaking heritage—an enduring legacy where every detail, every curve, every reflection on its black dial tells a story of passion, precision, and absolute elegance.