The original Portugieser is a well-known piece of horological lore. Believed to have been created after the request of a Portuguese dealer in the late 1930s, the model satisfied the demands of the Portuguese market for a man's watch featuring marine chronometer precision. However, the first Portugieser pieces were not delivered to Portugal until 1942, a delay most probably caused by times of War. Instead, these watches were first delivered to an Ukrainian retailer in 1939.

Originally the watch had no reference number, but some early examples bear the number 228 in the inside of the case back, and traces of a “Mod. 228” can be found in the IWC archives. However, soon the model was internally designated with the much better known reference 325, although this number never appeared on catalogues of the time.

While today one of the best known and most beloved designs by the company, originally the model did not perform very well. It would appear that barely 250 sales of ref. 325 are recorded at IWC until the early 1970s. The present example is one of these rare and sought-after examples, and it is furthermore offered with a charming black dial professionally restored by the manufacturer itself, offering a remarkable combination of historical importance, rarity and wearability.