IWC Schaffhausen · ref 325 · 1939–1981
IWC Portugieser 325
The first Portugieser started with a request from Portuguese wholesalers for a wristwatch as accurate as a marine chronometer. IWC's answer was to put a pocket-watch movement in a wristwatch case, and the ref. 325 came out at 41.5mm across and 9.5mm thick. Oddly, the first deliveries in February 1939 went to a wholesaler in Odessa, and the first Portuguese orders followed in 1942. IWC built only 690 of them through 1981, in steel with a grooved bezel, a snap-on back and no water resistance. Early ones run the cal. 74, later ones the better-finished cal. 98, and a final run of 57 used the cal. 982. Dials varied a lot, from silver or black to Arabic or Roman numerals and Art Deco sector layouts. With so few made, a real 325 rarely comes up on eBay, and most Portugiesers you'll see are modern ones.
Silver-platedBlackArabic or Roman numeralsArt Deco sector
Spec at a glance
- Brand
- IWC Schaffhausen
- Reference
- 325
- Family
- Portugieser
- Type
- Dress
- Movement
- Hand-wound
- Caliber
- cal. 74 / cal. 98
- Caliber family
- pocket-watch-derived hand-wound
- Case size
- 41.5 mm
- Case
- Stainless steel
- Era
- Deco and wartime (1930–1945)
- Years made
- 1939–1981
- Nickname
- Portuguese
- Typical eBay ask (Oct 6, 2026)
- $18,000–$18,025
The caliber
What the cal. 74 / cal. 98 tells you
The 325 ran three calibers over its life. The cal. 74, a 17-ligne hand-wound pocket-watch movement at 18,000 beats an hour, went into 309 watches from 1939 to 1951. The nickel-plated, better-finished cal. 98 took over from 1944 to 1970 for 329 more, and a late run of 57 watches from 1977 to 1981, known as the German Edition or Missing Link, used the cal. 982 with better shock protection.
What to check
The main risk is a listing that isn't a 325 at all, since IWC has put the Portugieser name on many modern watches. On real ones, look out for refinished dials and polished cases.
- 01Reference: Check the listing and caseback for ref. 325. A modern Portugieser such as a 3714 chronograph is a different watch.
- 02Movement: Ask the seller for a movement photo. It should be a signed IWC cal. 74, 98 or 982.
- 03Case: Ask for the case measurement and a side photo. It should be about 41.5mm with a grooved bezel and a snap-on back.
- 04Dial: Compare the dial with documented 325 examples. The printing should be crisp and the hands should suit that dial style.
- 05Paperwork: Ask what papers or archive documents come with it. On a watch this rare, documentation counts for a lot.
Buying guide
Which one to buy
§ Oct 6, 2026There's just one vintage Portugieser 325 for sale, from Italy at $18,008 delivered, so we can't call a fair price. IWC built only 690 of these through 1981, and the title's 1940 date would mean an early cal. 74 movement. Ask the seller for a photo inside the caseback showing ref. 325, a movement photo of a signed IWC caliber, and any papers, since documentation counts for a lot on a watch this rare. Check the seller's feedback and return policy on the item page, since eBay's watch search doesn't show it, and budget for possible import duty.
- Listed now
- 1
- For parts
- 0
- Typical ask
- $18,000–$18,025
- Full range
- $17,895–$17,895
Snapshot
For sale on eBay
1 of 1 listedChecked . Some may have sold.
Delivered prices include shipping as eBay quoted it to a US address on Oct 6, 2026. Many sellers charge by distance, so your total may differ. eBay shows yours before you pay.
UsedIwc vintage watch.Original and iconic Portuguese model.Ref 325 Vintage 1940
$18,008.00est. delivered
$17,895.45 + $112.55 shipping
Buy It Now$17,895.45
Our take
Titled ref. 325 from 1940, the cal. 74 era. Ships from Italy.
Seller: Seller on eBay
Check feedback on the listing
Prices change daily. The live eBay search shows everything listed now, including anything new since Oct 6, 2026.
See every listing on eBay ↗eBay searchStraps and tools
A fresh strap, a set of spring bars and a spring-bar tool are the cheap part of making an old IWC Portugieser 325 wearable again. This searches Amazon for the usual kit.
Search straps & tools ↗Amazon searchRelated references
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Pilot and fieldIWC Mark XI
ref Mark XI (6B/346)
- Caliber
- cal. 89
- Years
- 1948–early 1980s
$8,050–$8,725 typical ask
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DressIWC Ingenieur 666
ref 666A / 666AD
- Caliber
- cal. 852
- Years
- 1955–1967
$3,525–$5,050 typical ask
Omega · Genève
DressOmega Genève 135.070
ref 135.070
- Caliber
- cal. 601
- Years
- about 1970
$525–$975 typical ask
Longines · Flagship
DressLongines Flagship
ref Flagship
- Caliber
- Longines in-house automatic
- Years
- 1957–1960s
$500–$1,825 typical ask