IWC (International Watch Company), founded in Schaffhausen in 1868 by American watchmaker Florentine Ariosto Jones, is the only major Swiss watchmaker located in eastern Switzerland rather than the Jura arc. The brand is known for engineering-focused watchmaking with an emphasis on tool watches — particularly pilots' watches and dive watches.
Available below retail on the secondary market at 16% discount, this model offers exceptional value for buyers willing to purchase pre-owned. This pricing makes it one of the better value propositions in the dress watch category.
Our WVS Value Score of 70/100 places this in the upper range of luxury watches. The score reflects a solid balance between value retention, brand recognition, specification quality, and market availability.
The estimated annual cost of ownership is $661 per year, accounting for depreciation, servicing, and insurance. While this is higher than some alternatives, it should be weighed against the wearing pleasure and prestige the watch provides daily.
Understanding the true cost of owning a luxury watch requires looking beyond the purchase price. Our cost-of-ownership model calculates the annual net expense of keeping the IWC Portugieser IW371605 on your wrist, factoring in three key components.
First, depreciation: based on historical pricing data for this reference and similar IWC models, we estimate annual value change at 6%. This depreciation rate is typical for this price segment and brand positioning. Second, servicing: IWC recommends periodic maintenance to ensure accuracy and water resistance. We amortize the estimated service cost across the recommended interval, arriving at $80 per year. Third, insurance: at approximately 1.5% of market value, annual insurance costs $116 to protect against theft, loss, or accidental damage.
Combining these factors yields a net annual cost of $661. That's roughly $1.81 per day — comparable to a daily coffee habit.
Estimated market price trend based on aggregated public listing data. Prices reflect average asking prices for complete sets in excellent condition. Updated monthly.
Our proprietary score rates every luxury watch on a 0-100 scale across five dimensions. Scores above 85 indicate exceptional value retention and market positioning. The formula is transparent and weight-based.
When considering the IWC Portugieser IW371605, it helps to understand how it compares to alternatives in the dress watch category. The highest-scoring alternative is the Rolex Oyster Perpetual with a Value Score of 91/100, slightly above the IW371605's 70/100. The comparison table below provides a detailed side-by-side analysis of all key metrics.
| Watch | Market Price | Size | WR | Own/Yr | Score |
|---|---|---|---|---|---|
| IWC Portugieser IW371605 | $7,000–$8,500 | 41mm | 30m | $661/yr | 70 |
| Rolex Oyster Perpetual 126000 | $6,500–$10,000 | 41mm | 100m | $97/yr | 91 |
| Rolex Oyster Perpetual 124300 | $7,500–$13,000 | 41mm | 100m | $101/yr | 91 |
| Rolex Datejust 126300 | $9,000–$13,000 | 41mm | 100m | $102/yr | 89 |
| Rolex Datejust 126234 | $10,000–$14,000 | 41mm | 100m | $104/yr | 85 |
| Rolex Datejust 126334 | $11,000–$16,000 | 41mm | 100m | $107/yr | 86 |
Dress watches prioritize elegance and slim profiles over technical specifications. Designed to slip under a shirt cuff, they typically feature minimal dials, thin cases, and leather straps. For the collector, a dress watch represents the art of restraint — where value lies in finishing quality rather than feature count.
Key metrics for dress watches are case thickness (ideally under 10mm), movement finishing visible through a display caseback, dial quality, and strap/buckle craftsmanship. Water resistance is typically lower (30-50m) since these watches aren't designed for sport use.
Dress watches are ideal for business formal, black tie, and occasions where subtlety is valued. They may feel under-dressed with casual wear. Many collectors own a dress watch alongside a sport watch to cover all social contexts.
IWC watches are available at authorized dealers, typically without waitlists. Discounts of 10-20% are possible at ADs, with grey market offerings at steeper reductions. The Portugieser line offers the most horological substance per dollar, while the Pilot collection provides robust tool watch aesthetics.
IWC produces in-house movements for its higher-tier models (Portugieser Chronograph, Big Pilot) while using modified Sellita/ETA bases for entry-level pieces. The in-house calibres feature Pellaton winding, a proprietary bidirectional automatic winding system that is exceptionally robust and efficient.
IWC recommends servicing every 5-8 years with costs of $600-$1,200 depending on complication level. The brand's dedicated service center in Schaffhausen handles complex repairs, with a network of regional centers for standard maintenance.
IWC watches depreciate 25-45% from retail. The Portugieser Chronograph holds value best, while the Pilot Mark XVIII and Aquatimer see more depreciation. As a Richemont brand, IWC's long-term value trajectory is stable but not appreciating. Pre-owned IWC offers genuine manufacture quality at very competitive prices.
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Every current reference ranked by Value Score. Click any model for full analysis.
| Ref | Variant | Retail | Score | Own/Yr | Market |
|---|---|---|---|---|---|
| IW371605 | Chrono Steel/Blue ◂ | $9,200 | 70 | $661/yr | $7,000–$8,500 |
| IW358305 | Auto 40 Steel/Blue | $8,000 | 70 | $586/yr | $6,000–$7,500 |
Value Score 70/100 · $661/year to own · 94% retention