THE ESSENTIALS
MAKE: IWC
MODEL: IW3541
YEAR: 1995
BOX/PAPERS: YES/YES
CASE DIAMETER: 35mm
CASE MATERIAL: 18K YELLOW GOLD
BRACELET MATERIAL: LEATHER
MOVEMENT: AUTOMATIC
At Falco, one of the questions we’re asked most often is: “What still represents good value in the vintage or neo-vintage world?” While value is intrinsically subjective, there are certain watches that make such a strong case that even the most skeptical watch nerds would struggle to argue otherwise.
Among the strongest candidates are perpetual calendars from the 1980s and 1990s. For years, watches like Audemars Piguet Quantième Perpétuels and Patek Philippe 3940s could be bought for a fraction of the price of their much simpler—and originally much cheaper—stainless steel sports counterparts. In recent years they’ve begun to receive the attention they deserve, with steadily rising prices to match. Still, one could argue that even at £40–50k, the Patek 3940 remains exceptional value, especially when compared to the modern 5327, which costs double.
Which makes it all the more remarkable that we’re able to present the watch you see here. The IWC ref. IW3541 was launched in the early 1990s as a continuation of an idea first pioneered by the great Kurt Klaus. The legendary IWC watchmaker devised a perpetual calendar system that eliminated the usual cluster of correctors and pushers (often operated with a cocktail stick, as many perpetual calendar owners know). Instead, his module was designed to be adjusted entirely via the crown. It calculates the varying lengths of months, leap years, and even century transitions automatically—requiring no manual intervention beyond winding.
Though often slightly overshadowed by the Da Vinci Perpetual Calendars (which combined the complication with a chronograph), the Portofino presents an arguably purer design. At 35 mm in diameter, it wears elegantly on the wrist, echoing the proportions of its Patek Philippe and Audemars Piguet cousins from the same era. This example is fitted with the rare Roman numeral dial, blending seamlessly with the day, date, and month subdials, and crowned by a moonphase display at 12 o’clock.