IWC. Ref. IW5021. Case no. 2920015. Circa 2005. 18K gold wristwatch with perpetual calendar and 7-day power reserve. Round case, sapphire crystal back, signed. Black dial, applied Arabic numerals, circular-grained minute track, 4 auxiliary dials for date, days of the week, months, seconds, power reserve and moon-phase display for the northern and southern hemispheres, opening for year indication, signed. Automatic movement, cal. C.50611, stylized rotor, 66 jewels, adjusted to 5 positions, signed. Gold folding clasp, signed. Diameter: 44 mm. Gross weight: 158.8 g. (micro-scratches). Accompanied by a warranty card dated 3/07/2004, a capsule containing a leap-year disc, case and box, warranty booklet, instructions for use and maintenance accessory. Provenance: Amateur collection Note: Introduced in 2003, reference IW5021 is a cult model in the Portugieser collection. Known as "PPC" to insiders, this watch features an entirely new display: a double lunation indicating the moon phases in the northern and southern hemispheres - a world first patented by IWC! Equipped with an impressive 7-day power reserve, this watch was developed by Kurt Klaus, IWC's star watchmaker in charge of innovation and research for almost 50 years. Unlike "traditional" perpetual calendars, i.e. with correctors on the case, this model is revolutionary in that all adjustments are made via the crown. This tour de force makes it particularly easy to use. Like all pieces in this series, our model comes with a second disc for leap years. Expert : Geoffroy ADER assisted by Justine LAMARRE