The market price is approximately 200,000 to 300,000 yen. However, this time, we have set a price of 400,000 yen for this particular piece.

Now, about this Old Inter. Please allow me to explain why we have valued this piece, with its appealing bullet indexes, at 400,000 yen.

At first glance, it might seem a bit bold. However, there's a clear reason for this price.

■ The Identity of This Watch

This is a dress watch from the old IWC, commonly known as "Old Inter." It features the hand-wound Cal. 89 movement in a 35mm case, which was the standard size at the time.

It isn't flashy. However, this watch is built on "balance."

• Uncluttered dial

• Subtle indexes

• Thin bezel with long, slender lugs

None of these elements are overly assertive, yet they are undeniably well-arranged. This "arrangement" calls to mind the lineage of a certain watch.

■ Comparison: Calatrava Ref. 570

If this watch had no logo, and one were to look purely at its design, wouldn't most people associate it with the Patek Philippe Calatrava, especially the Ref. 570 lineage?

• Dial design that utilizes negative space

• Simple three-hand configuration

• Natural integration of case and lugs

The visual structure is very similar.

■ Still, the Price Difference is Significant

The Ref. 570, depending on the material,

• ranges from several million yen for WG/YG

• to even more for stainless steel (due to rarity premium).

On the other hand, this IWC typically sells for around 200,000 to 300,000 yen on the market.

Simply put, there's a difference of more than tenfold.

■ The "Premise" of Brand Valuation

What's important here is not just a difference in quality, but a difference in the roles that brands play.

● Patek Philippe

• A solid position as the pinnacle of dress watches

• Valuation encompassing history, lineage, and the collector's market

• A brand where "ownership itself has meaning" → Value includes "culture and asset quality" beyond just the watch itself

● IWC

• A brand that prioritizes practicality and robust construction

• Rationality over excessive ornamentation

• Reliability as "a watch for use" → "Completeness as a tool" is the core of its valuation

Due to this difference, even with similar design structures, market valuations diverge significantly.

■ How Much of That Difference is in the "Watch Itself"?

Of course, differences exist.

• Tension in case finishing

• Aesthetics and thinness of the movement

• Attention to detail

However, if these differences were directly proportional to the price gap—which can be several or even more than ten times—it would look a little different.

■ The Foundation of Cal. 89

The Cal. 89, which is the core of this watch,

• has durability backed by years of proven performance

• stable accuracy

• and a rational design for maintenance.

It is a movement with an exceptionally high degree of "completeness for everyday use."

Its design is for continued use, not for flashy extravagance. This is where IWC's character shines through.

■ Why We Priced it at 400,000 Yen

The current market price is around 200,000 to 300,000 yen. Taking that into account, we have set a price of 400,000 yen for this particular piece.

The reason is simple:

We believe that this watch is not a "low-value watch" but rather a watch that is relatively undervalued due to its brand context.

• The design has a completeness comparable to the Calatrava.

• The movement is extremely excellent for practical use.

• The size of 35mm is a classic ideal.

Considering all these factors, the current market price seems somewhat modest.

■ Outlook for the Future

Overall, Old Inter watches have seen a re-evaluation in recent years. As watches chosen for their "quality and balance" rather than flashiness are reconsidered, we believe that prices in this segment may rise in the future.

■ Finally

If this watch had a Patek logo—it certainly wouldn't be in this price range.

However, this is not a simple matter of superiority or inferiority, but rather a difference in the context in which it is valued.

The value of a watch is shaped not only by its specifications but also by the "meaning" attributed to it by the brand and the market.

This IWC might be one of those pieces whose meaning is currently changing.

▼ Details of the watch introduced this time are here