The replica IW323707 is the fake market's version of the IWC Aquatimer Automatic: a 42 mm steel dive watch with a black dial, applied markers, and a dive scale that sits under the crystal. The good ones get the case silhouette and dial printing close enough that you need the back off to be sure. The bad ones miss the bezel feel, the lume, and the crown threads, which is where a dive watch either works or does not. None of them are dive watches in the ISO 6425 sense, and none of them will see an IWC service center.

What the real reference is

The genuine Aquatimer Automatic on this reference runs IWC calibre 30120, a modified ETA 2892-A2, inside a 42 mm stainless case with roughly 300 m of rated depth on the steel version. Its party trick is the coupled bezel: turning the outer ring drives an inner dive scale under the glass, so the setting cannot get knocked out of place. Dial is matte black, markers are applied and lumed, hands are broad with a lume-filled tip on the minute hand. Date sits at 3.

Which movement is inside

Almost every rep here uses one of three things: an Asian 2892 clone, a 2824-type with a decorated rotor, or a cheap 2813 with a fake jewel plate glued on. The 2892 clone runs smoother, sweeps well, and takes a genuine-spec stem. The 2813 is noisy and will not hold regulation. Ask which one, and ask for a photo of the movement with the caseback off. If the seller will not send one, that answers the question.

Case, bezel, and the tells

• Bezel action: the real one clicks with a firm, damped feel. Copies are either gritty or loose with play before the scale moves.
• Crystal: the genuine has strong anti-reflective coating on both sides. Cheap reps look like a mirror under indoor light.
• Caseback: engraving depth and font weight are where most factories get lazy. Soft, shallow text is a giveaway.
• Lume: charge it for 20 seconds, then look at it in a dark room after ten minutes. Most reps fade to nothing by then.

Straps, bracelets, and sizing

Steel bracelet versions usually ship with sharp edges on the end links and a clasp that feels thin. Rubber strap versions are closer to the real thing and hide more flaws. Lug width is 22 mm, so aftermarket straps are easy to source and instantly improve how the watch sits on a wrist.

Water resistance, honestly

Assume zero. Gaskets on budget reps are there for looks, and crown threads are often cut badly enough that the seal never seats. If you want to swim with it, get it pressure tested by a local watchmaker first, and accept that most will fail. Rain and hand washing are the realistic limit.

Price tiers, briefly

Under about $80 you get a 2813, stamped dial furniture, and a bezel that rattles. In the $150 to $300 band you get a 2892 clone, better lume, and a properly coupled inner scale. Above that you are paying for finishing and packaging, not for accuracy you can see on the wrist.

Before you commit

Ask for a wrist shot, a movement shot, a lume shot, and a video of the bezel being turned. Note that importing counterfeit goods carries customs seizure risk in the US, and that resale value is effectively nothing. Buy it because you enjoy the look, not because you think it is an investment.