‘Penge & Privatøkonomi’ IWC Mark XII Limited Edition

Almost every watch enthusiast has a soft spot for the IWC Mark XII, but almost no watch enthusiasts are aware that a few oddball 90s collaborative limited editions exist. The red centre seconds here is not some ill-advised service replacement, this is 1 of 25 examples made for the Danish magazine Penge & Privatøkonomi in 1997. And, rejoice, it’s on bracelet. The Mark XII is a cult classic, a humble, quietly-confident, purpose-driven pilot. But this one is red. And red is cooler. A Mark XII for Doja Cat here.

There are a few reasons why the 90s range of IWC reigns supreme, apart from innovative calibres and cases like the Kurt Klaus or Ocean 2000 (which we do without in the Mark XII). They’re usually perfectly sized, highly legible, and tritium; it’s amazing how many other manufactures missed these basics back then. The Mark XII was the update to the famous issued, aviation-driven XI, but none of its no-nonsense attitude was lost. It’s an entirely-brushed 36mm steel base, based on a JLC 889/2 ébauche when most three-handers were ETAs, and had an amazing bracelet. It’s everything you need, absolutely nothing you don’t, and legible from a mile away.

By all accounts, this was made for upper management and some of the better writers of the magazine, a bit of a reward for dedication. It would be a stretch to call it an earned watch in the same way that the Domino’s Air King was, but it’s not far off. Now, this is far from the only Mark XII LE. The Airline Cathay Pacific had some made. Even cooler, there are some with Saab-signed dials and yellow straps. Or, if you like your tools in precious metal there’s a platinum blue dial in 420 examples. And that’s far from all: Emilio Fontana, Patrouille Suisse, and others. Of all of them, this red seconds hand for Penge & Privatøkonomi is the rarest of the lot at 25 examples. I’ve seen one for sale at 10K ages ago, then one for sale at 32K three years ago that actually sold. This one is more towards the former, and just a very cool thing to see in the market. It’ll be awhile before we get another one on finds.

This example appears great. The case is full, the dial is original, the tritium is cream. The engraving is correct and this case is just the second made. It comes from a well-regarded Danish retailer.