Important Modern & Vintage Timepieces...

Hong Kong, Jun 13, 2023

LOT 65


HKD 120,000 - 200,000

EUR 14,200 - 23,600 / CHF 13,800 - 23,000 / USD 15,400 - 25,600

A very fine and early, rare, oversize, manual winding, stainless steel wristwatch.

Grading System
Case: 3-8


Slightly scratched

Movement: 3*


Overhaul recommended, at buyer's expense

Dial: 2-01

Very good

HANDS Original

Brand IWC

Model Portuguese

Reference 228

Year sold in Sept 1944

Movement No. 955038

Case No. 1102826

Material stainless steel

Bracelet leather with a later stainless steel IWC buckle

Diameter 42mm.

Caliber 98

Signature dial, case and movement

Accessories copy of an extract from the archives


Known to many collectors as the reference 325, this model is actually the birth of the line and is considered the original Portuguese. According to IWC, the watch line was created when a Portuguese client requested a wristwatch with the same accuracy and size as a pocket watch and in response the first Portuguese watch was created. Interestingly, most of these early examples were delivered to Eastern Europe, probably due to many restrictions linked to World War II, and this example in particular was sold to Bratislava. While there are 3 generations accepted by collectors of reference 325, this is part of the first generation and according to IWC was only made in 304 pieces and is one of the most important IWC wristwatches ever manufactured.