IWC Portugieser Portuguese Hand-Wound Reverse Panda

Reference IW5454-04

About this watch

The IWC Portugieser IW5454-04 Portuguese Hand-Wound Reverse Panda is a masterclass in luxury watch design. This stunning timepiece boasts an oversized dial with a striking black and white Reverse Panda configuration, featuring Arabic numerals for enhanced readability. The hand-wound IWC caliber 98295 movement offers precision and elegance, while the open case back provides a glimpse into its intricate workings. With a 44mm stainless steel case and sapphire crystal, this watch exudes sophistication and durability. Whether you're dressing up or adding a touch of elegance to your everyday attire, the IW5454-04 is sure to impress with its unique aesthetic and historical significance. It's more than just a timepiece – it's a statement of style and fine craftsmanship. With its reliable movement and comfortable wearability, this watch appeals to both seasoned collectors and newcomers alike.
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MSRP: $7,300
Market Price: $4,717

Key Features

  • IWC-manufactured caliber 98295 hand-wound movement
  • 44mm stainless steel case with sapphire crystal
  • Reverse Panda dial configuration with Arabic numerals
  • Open case back for a glimpse into the movement's mechanics
  • 46-hour power reserve and 30-meter water resistance

Specifications

Brand
IWC
Family
Portugieser
Model
Portuguese Hand-Wound Reverse Panda
Reference
IW5454-04
Movement
98295
Movement Features
  • Hours, Minutes, Small Seconds
Case
Stainless Steel 44mm
Dial Color
Black
Crystal
Sapphire
Water Resistance
30

Current Listings

[WTS] IWC Schaffhausen Portugieser. Blue Hands/Indices. 40mm. IW358312. Card Included..

IWC Schaffhausen Portugieser. Blue Hands/Indices. 40mm. IW358312. Card Included..

This IWC Portugieser is a gorgeous watch with an inhouse movement, available for sale. It features blue hands and indices on a 40mm case.

  • Case size: 40mm diameter
  • Movement type: inhouse
Posted at
Apr 19, 2026, 11:42 AM
Active
[WTS] IWC Portugieser Jubilee Ref. 5441 – 18k Rose Gold – Limited Edition 006/500 – REDUCED PRICE

IWC Portugieser Jubilee Ref. 5441 – 18k Rose Gold – Limited Edition 006/500 – REDUCED PRICE

IWC - 5441 · $13,249
A limited edition IWC Portugieser Jubilee Ref. 5441 in 18k rose gold produced to celebrate IWC's 125th anniversary, featuring a manual-winding movement and classic Portugieser design language.

  • Condition: Overall very good vintage condition, minor scuffing around the ~10 o'clock area on the crystal.
  • Case Size: ~42 mm
  • Dial Color: Silver
  • Movement Type: Manual winding
Posted at
Apr 18, 2026, 2:43 PM
Active
[WTS][US] IWC Portugieser Automatic 40 - Silver Dial - 40mm - IW358312 - BRAND NEW

[US] IWC Portugieser Automatic 40 - Silver Dial - 40mm - IW358312 - BRAND NEW

IWC - IW358312 · $7,025
This IWC Portugieser Automatic 40 is a brand new timepiece with a silver dial and 40mm case size. It features an automatic movement and comes with all original accessories.

  • Condition: Brand new, unworn
  • Case size: 40mm
  • Movement type: Automatic
Posted at
Apr 18, 2026, 8:18 AM
Active
[WTS] IWC Portugieser Chronograph IW371624 Dune Dial Full Set

IWC Portugieser Chronograph IW371624 Dune Dial Full Set

IWC - IW371624 · $7,497
This pre-owned IWC Portugieser Chronograph is a stainless steel timepiece with a dune dial on a black alligator strap, featuring an automatic movement.

  • Condition: Very good condition
  • Case diameter: 41mm
  • Movement type: Automatic
Posted at
Apr 13, 2026, 9:11 AM
Active
[WTS][US] IWC Portugieser Automatic 40 - Silver Dial - 40mm - IW358312 - BRAND NEW

[US] IWC Portugieser Automatic 40 - Silver Dial - 40mm - IW358312 - BRAND NEW

IWC - IW358312 · $7,050
This IWC Portugieser Automatic 40 features a silver dial and is fully functional without any issues.

  • Condition: Brand new, unworn
  • Case diameter: 40mm
Posted at
Apr 11, 2026, 8:56 AM
Active
[WTS] IWC Schaffhausen Portugieser. Blue Hands/Indices. 40mm. IW358312. Card Included..

IWC Schaffhausen Portugieser. Blue Hands/Indices. 40mm. IW358312. Card Included..

A beautiful IWC Portugieser with inhouse movement and blue hands/indices, featuring a 40mm case.

  • Movement: inhouse
  • Diameter: 40mm
Posted at
Apr 7, 2026, 6:58 PM
Active
[WTS] IWC Portugieser Perpetual Calendar 42 Boutique Edition Full Set, Mint Condition

IWC Portugieser Perpetual Calendar 42 Boutique Edition Full Set, Mint Condition

The Portugieser Perpetual Calendar is the crown jewel of IWC's Portugieser line, featuring a rich blue dial with gold-plated hands and 18K gold appliqués. The perpetual calendar itself is a piece of horological history, originally developed by Kurt Klaus in the 1980s.

  • Condition: Excellent Condition
  • Case material: 18K Rose Gold
  • Case size: 42.4mm diameter
  • Movement: IWC Calibre 82650, Automatic
Posted at
Apr 6, 2026, 7:14 PM
Active
IWC Portugieser Chronograph - 41mm - Gold Numerals - IW371604 ( new / 2024 )

IWC Portugieser Chronograph - 41mm - Gold Numerals - IW371604 ( new / 2024 )

IWC - IW371604 · $6,995
This IWC Portugieser Chronograph features a stainless steel case and gold numerals. It comes with all the original boxes, papers, booklets, and IWC Warranty Card.

  • Condition: unworn
  • Case size: 41mm diameter
  • Movement: In-House Calibre 69355
Posted at
Apr 2, 2025, 3:10 PM
Active
2023 IWC Portugieser 42 / IW500715

2023 IWC Portugieser 42 / IW500715

IWC - IW500715 · $8,675
2023 IWC Portugieser 42, a luxury watch in excellent condition with original boxes and papers. Comes with warranty card.

  • Condition: Very Good Condition
  • Boxes: Yes, complete set
  • Papers: Complete
  • Warranty: With warranty card
Posted at
Apr 1, 2025, 10:21 PM
Active