The stainless steel IWC Da Vinci Perpetual Calendar Chronograph (ref. IW3750) is not a watch that shouts. It doesn't need to. For decades, it has stood quietly at the edge of vintage collecting circles—overlooked, underappreciated, and vastly misunderstood. But for those willing to listen, it tells a story of rebellion, innovation, and resilience. It is the kind of watch that bends time not just in its function but in its meaning, revealing more the longer you live with it.

Back in 1985, the Swiss mechanical watch industry was in a full-blown existential crisis. Quartz had won the popular vote, and brands rooted in centuries-old craftsmanship were scrambling for relevance. But in Schaffhausen, IWC made a choice that defied the current: they doubled down on mechanical complexity. What emerged was the Da Vinci—a perpetual calendar chronograph with a moonphase accurate for 122 years and a calendar mechanism so intuitive it could be adjusted entirely through the crown. It was the brainchild of Kurt Klaus, a quiet genius who conjured up mechanical solutions with a kind of poetic pragmatism. Klaus reportedly designed the entire module by hand, using only paper, pencil, and a slide rule—no computers, no CAD software. It was old-world engineering at its finest, and a triumph of analog ingenuity.
He engineered a system of cams and levers that eliminated the need for correction tools or hidden pushers, making one of horology's most complex complications usable for everyday wear.
And then came the steel.

At a time when perpetual calendars were the domain of gold cases and old-money wrists, IWC dared to encase its technical marvel in stainless steel. It was a subtle provocation, a manifesto wrapped in brushed metal. By doing so, IWC opened the door for democratic horology—making high complications accessible without diluting their mystique. The Da Vinci in steel became not just a product but a symbol: of defiance, of foresight, and of faith in the mechanical art. Behind the scenes, this direction aligned perfectly with the vision of Günter Blümlein, the strategic mind behind IWC's renaissance. Known for his belief in combining innovation with accessibility, Blümlein saw the Da Vinci's bold mechanics in a steel case as a way to reinvigorate mechanical watchmaking for a new era.
Its design was equally unapologetic. The swiveling articulated lugs, the rounded tonneau case, the densely informative dial—it all came together in a package that refused to flatter trends. Instead, it expressed purpose.

Collectors, however, took their time to catch on. For years, the IW3750 lingered beneath the radar. Perhaps it was too practical, too modern, too available in its day. But the tide has turned. Today, with vintage steel complications gaining favor and the market maturing beyond hype-driven collecting, the Da Vinci is re-emerging as one of the most undervalued propositions of the mechanical renaissance.
Of course, not all IW3750s are equal. The production timeline tells its own story. Pieces from the early years, between 1985 and 1990, are considered the purest expressions of the original vision—often commanding a premium for their historical significance and undiluted design. Watches from the middle period, roughly 1991 to 1995, maintain integrity while introducing subtle refinements. The later models, produced between 1996 and 1999, are more widely available and slightly less connected to the watch's breakthrough moment, though still prized for their functionality and finish. While official production continued until 2003, many collectors and scholars recognize 1999 as the end of the model's most significant era—marking a shift in design continuity and leadership within IWC's mechanical revival.
The dial variants create another layer of value. Blue dials are exceptionally rare, sometimes fetching 20 to 30 percent premiums over standard models. Special editions in grey offer unique appeal, while silver and white dials appear less frequently than the ubiquitous black-with-white-subdials configuration. Each variation shifts the tone and feel of the watch, influencing both emotional and market resonance.

And then there are the bracelets. The original "Beads of Rice" bracelet with correct endlinks is the most coveted, grounding the watch's hybrid identity: high horology built for wearability. An alternative known as the "Brick Link" bracelet exists as well, less common and with its own niche appeal among certain collectors.
But beyond aesthetics and configuration, what is most striking is the watch's positioning in today’s market. When evaluated through a rigorous framework that scores for mechanical innovation, historical relevance, design integrity, and market trajectory, the steel IW3750 consistently ranks higher than many of its gold counterparts. It embodies a paradox that has become increasingly attractive to savvy collectors: technical sophistication in a material once considered too pedestrian for such complications. The collecting world has shifted, and steel is now not only acceptable but desirable.

This change is driven by several converging forces. As well-preserved examples become harder to find, scarcity begins to drive value. Collector education is expanding, with more attention paid to technical milestones rather than just brand prestige. Institutional support also matters; IWC itself continues to honor the Da Vinci as a cornerstone in its legacy, providing further credibility to its long-term relevance. And while they haven’t yet ignited headline-grabbing bidding wars, recent auction behavior reveals something telling: well-preserved steel IW3750s with rare dials and original accessories have begun to quietly outperform expectations. Younger collectors, drawn by Klaus's analog genius and the model's overlooked status, are increasingly targeting the Da Vinci as an under-the-radar grail.
For those considering acquisition, the path is clear but nuanced. Case condition is paramount. The distinctive lugs and architectural curves are easily compromised by poor polishing. Movement health must also be verified—particularly the synchronization of the perpetual calendar indications, which is critical to the watch's functionality and value. The ideal example combines early production, a less common dial, the original bracelet, and full documentation: box, papers, and the corrector stylus.
As the IW3750 approaches its 40th anniversary in 2025, it stands as a time capsule from a moment when mechanical watchmaking fought its way back from obsolescence. It is a watch that dared to imagine a future for complications at a time when the world had stopped caring. Today, the world cares again—and this watch is ready to be seen.
The question isn’t whether the IWC Da Vinci in steel deserves a place among the greats. History has already answered that. The real question is how much longer the market will take to catch up to what this watch has always quietly known: that substance, in time, will always outlast style.

Disclaimer: This analysis was developed using our proprietary vintage watch assessment framework, which evaluates timepieces across multiple dimensions of collectability and investment potential; it is not intended as financial advice or a recommendation to invest.
About the Author
Sergio Galanti is a journalist specializing in independent watchmaking and mechanical horology.