Short answer
IW938738 does not appear in IWC Schaffhausen's catalog, and I have never found it in an official service record either. The number circulates on replica listings and marketplace posts, usually attached to a Pilot's Watch or Portugieser-style chronograph that is borrowing the IWC name. If a seller hands you an "IWC IW938738," the reference number is already the first warning. Genuine IWC references follow a documented pattern. A code that lives only in resale listings is a label, not a model.
What real IWC reference numbers look like
IWC uses an IW prefix followed by digits that map to a specific family, case size, material, and dial variant. Each combination gets its own number, and the number should match the caseback engraving, the warranty card, and the movement's serial. When those three disagree, you are looking at either a swapped caseback or a rep. A search of the brand's current and archived models should return the reference with photos, specs, and a production range. If it returns nothing except forum posts and shopping links, stop there.
Five checks that catch most fakes
- Caseback engraving. Genuine engraving is crisp, evenly spaced, and cut into the metal. Replica engraving often looks shallow, laser-etched, or slightly blurry at the edges.
- Reference-to-case match. Confirm the number belongs to the case size and material in the photos. A stainless chronograph reference does not appear on a gold case.
- Movement finish. Open the back if you can. Fakes use stock movements with rough perlage, mismatched rotor decoration, and no IWC marking on the bridges.
- Dial text and font. Compare letter spacing and the weight of the printed text against a photo from the brand. Replica dials run slightly wide or heavy.
- Papers and boxes. Replica packaging copies the look but rarely the paperwork. Check that the serial on the card matches the case and the movement.
Red flags in the listing itself
Vague wording does more damage than bad photos. Watch for "1:1," "super clone," "same factory," or a reference that no one can decode. Prices far under market for a steel sports model are the loudest signal of all. So is a seller who will not photograph the caseback or the movement, or who insists on a friend-to-friend transfer with no return window. Ask for the reference, the serial, and a timed photo of the watch running. Real sellers answer. Replica sellers stall.
If you already bought one
A counterfeit watch is not a legal gray area in the United States. Selling one as genuine is fraud, and even selling it as a replica can run into trademark law. If you paid with a card, open a dispute and describe the item as counterfeit. If you paid by transfer, save everything. Photograph the watch, the listing, and the messages before you send it back.
What to do instead
If you want the IWC look at a lower price, buy a legitimate microbrand or a used watch from an established dealer with a service history. You get a real warranty, a real movement, and a watch you can resell. That is a better trade than a made-up reference number that no one will service.