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] 2021 IWC Portugieser Chronograph Blue IW371606 41mm Full Set - $5,395

2021 IWC Portugieser Chronograph Blue IW371606 41mm Full Set - $5,395

IWC - IW371606 · $5,395
A 2021 IWC Portugieser Chronograph Blue in excellent condition, featuring a 41mm case and equipped with a chronograph function.

  • Condition: Excellent condition with minimal signs of wear
  • Case Size: 41mm diameter
  • Year: 2021
Posted at
May 26, 2026, 1:08 PM
Active
[WTS] IWC Portugieser Chronograph IW371624 Dune Dial 41mm Full Set 2024

IWC Portugieser Chronograph IW371624 Dune Dial 41mm Full Set 2024

IWC - IW371624 · $6,897
A pre-owned IWC Portugieser Chronograph Ref. IW371624 features a stainless steel case, dune dial on black alligator leather strap, and automatic chronograph movement. It is accompanied by its original box, papers, and contents.

  • Condition: Very good condition with light signs of normal wear
  • Case size: 41mm diameter
  • Case material: Stainless steel
  • Movement type: Automatic chronograph
Posted at
May 25, 2026, 10:02 PM
Active
[WTS] REDUCED TO SELL:  1993 IWC Portugieser Jubilee Ref. 5441 – 18k Rose Gold – Limited Edition

REDUCED TO SELL: 1993 IWC Portugieser Jubilee Ref. 5441 – 18k Rose Gold – Limited Edition

IWC - 5441 · $11,999
A limited edition 1993 IWC Portugieser Jubilee Ref. 5441 in 18k rose gold, one of only 500 produced to celebrate International Watch Company's 125th anniversary.

  • Condition: very good vintage condition, minor scuffing around the ~10 o'clock area on the crystal
  • Case size: ~42 mm
  • Dial material: silver
  • Movement type: manual winding
Posted at
May 25, 2026, 8:59 PM
Active
[WTS] IWC Portugieser Automatic (IW500109)

IWC Portugieser Automatic (IW500109)

IWC - IW500109 · $5,500
This IWC Portugieser Automatic features a black dial on a black leather strap, is discontinued and in very good condition. It comes with box, booklets, and warranty card dated January 2011.

  • Condition: very good with a few light marks
  • Case Material: Stainless Steel
  • Bracelet Material: Leather
  • Crystal: Sapphire
Posted at
May 25, 2026, 8:58 AM
Active
[WTS] 2022 IWC Portugieser Chronograph Green IW371615 41mm Full Set - $5,995

2022 IWC Portugieser Chronograph Green IW371615 41mm Full Set - $5,995

IWC - IW371615 · $5,995
A 2022 IWC Portugieser Chronograph Green, a chronograph watch with green dial. It features a 41mm case and is in excellent condition.

  • Condition: Excellent condition with minimal signs of wear
  • Year: 2022
  • Case size: 41mm
Posted at
May 24, 2026, 11:51 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 · $6,900
This IWC Portugieser Automatic 40 is a mechanical watch with a silver dial and 40mm case. It features a digital transferable warranty until 12/2025.

  • Condition: Brand new, unworn
  • Case size: 40mm
Posted at
May 23, 2026, 5:09 AM
Active
[WTS] 2022 IWC Portugieser Chronograph Green IW371615 41mm Full Set - $5,995

2022 IWC Portugieser Chronograph Green IW371615 41mm Full Set - $5,995

IWC - IW371615 · $5,995
This is a 2022 IWC Portugieser Chronograph Green, a high-end chronograph watch with a 41mm case size.

  • Condition: Excellent condition with minimal signs of wear
  • Year: 2022
  • Case size: 41mm
Posted at
May 21, 2026, 10:10 PM
Active
[WTS] IWC Portugieser Chronograph IW371624 Automatic Dune Dial 2024 41mm Full Set

IWC Portugieser Chronograph IW371624 Automatic Dune Dial 2024 41mm Full Set

IWC - IW371624 · $6,997
This is an IWC Portugieser Chronograph with a stainless steel case, dune dial on black alligator strap, and automatic movement.

  • Condition: Very good
  • Case size: 41mm diameter
  • Material: Stainless steel
  • Movement: Automatic
Posted at
May 18, 2026, 8:53 AM
Active
[WTS] IWC Portugieser Tourbillon Mystere, White Gold IW504207 ♦️Lightly Used Undated♦️

IWC Portugieser Tourbillon Mystere, White Gold IW504207 ♦️Lightly Used Undated♦️

IWC - IW504207 · $30,300
This IWC Portugieser Tourbillon Mystere features a white gold case and is in lightly used condition. It comes with a full set, including the box and papers.

  • Condition: Lightly Used
  • Case material: White Gold
  • Movement: Calibre 65
Posted at
May 18, 2026, 4:42 AM
Active