
What We Know
IWC just launched a surprising novelty, and it isn’t even Watches and Wonders yet. Today marks the brand’s introduction of a limited-edition run of its classic Portugieser Chronograph, this time in Ceratanium. It’s a subversion of what I typically think of as IWC’s dressier chronograph option, this time with a sleek all-black look thanks to ceramicized titanium and blacked-out details across the dial.

The case is 41mm in diameter with a height of 13.1mm, and it does away with any polishing and replaces the case, crown, and pushers with a dark matte finish throughout, thanks to Ceratanium. This is IWC’s version of ceramicized titanium, which uses a proprietary titanium alloy that forms a ceramic crust when fired at extreme temperatures in a kiln. It’s not a coating but a phase transformation of the underlying metal. What this offers is increased scratch resistance thanks to the ceramic outside, without the brittleness that a completely ceramic case would impose.
Dial styling is analogous to that on IWC’s Pilot’s Watch Chronograph 41 ‘Top Gun’ Ceratanium, going for a low-contrast monochromatic look. Applied numerals, indices, and the quarter-second scale are executed in a glossy anthracite, sitting on top of a black dial, while a black minutes track is printed on the rehaut.
The exhibition caseback, in smoked sapphire for a darker look, showcases the 69355 chronograph caliber with a column-wheel architecture and a power reserve of 46 hours. For this sportier take (despite keeping the classic Portugieser Chronograph’s 30-meter water resistance), the watch is paired with a black rubber strap.

It seems the first person to wear one of these 1500-piece LEs is musician Ed Sheeran, who was recently spotted with the now-released Ceratanium chronograph on wrist while on tour. It’s a tried-and-true strategy for watch brands, and given a similar spotting of the musician wearing a piece unique Big Pilot Perpetual Calendar last year, it seems like Sheeran’s relationship with the brand is closer than ever.
The IWC Portugieser Chronograph Ceratanium ref. IW371631 is limited to 1,500 pieces and priced at $14,600.
What We Think
I love Ceratanium, as it’s a great material that allows for darker case designs while offering some unique benefits. And, as an owner of the Ceratanium Top Gun Pilot’s Chronograph, this new release very much intrigues me. The twist of a Ceratanium treatment on what I typically associate with a dressier chronograph feels uniquely rebellious, and while the rubber strap design isn’t my favorite one out there, it makes sense to deliver this watch on a sporty strap.

In photos, this watch might come across as the least legible design in the IWC catalog, given that it lacks the contrast of the Pilot’s Chronograph 41’s matte grey numerals and lume. And while it might be factually true, it’s easier to read in person than you might expect, given that you’re most likely checking the time at a slight angle, where the numerals manage to catch some reflections.
From a design perspective, the Portugieser’s more delicate and elegant dial elements are fun to see in combination with the rugged material. It’s definitely not for everyone, but it’s a limited-edition item that’s certainly different and well outside the norm for the modern Portugieser.
The Basics
Brand: IWC
Model: Portugieser Chronograph Ceratanium
Reference Number: IW371631
Diameter: 41mm
Thickness: 13.1mm
Case Material: Ceratanium
Dial Color: Black
Indexes: Applied
Lume: No
Water Resistance: 3 bar
Strap/Bracelet: Rubber strap with Ceratanium pin buckle
The Movement
Caliber: IWC-manufactured 69355
Functions: Hours, minutes, seconds, chronograph
Power Reserve: 46 hours
Winding: Automatic
Frequency: 28,800 VpH (4 Hz)
Jewels: 27
Chronometer Certified: No
Pricing & Availability
Price: $14,600
Availability: Now
Limited Edition: Yes, 1,500 pieces.
For more, click here.

