Short answer
"Fake IW321841v4" is a buyer's search string, not a model name. The number reads like an IWC reference, and "v4" is a factory version tag meaning the fourth revision of that replica. IWC never sold anything called v4, and no genuine catalog page will match the phrase. So the useful question is not "is this a good fake" but "which IWC model did the workshop copy, and what changed between v3 and v4."
Why the v4 label exists
Replica factories iterate. A first run gets picked apart on owner forums, then a second run fixes the bezel or the date font, and so on. By the fourth pass the seller is claiming the small stuff is sorted. Treat the number as a claim to verify, not a grade. I have seen v2 watches that were cleaner than a v5 from a different workshop, because the version number only tracks one factory's own history.
Confirm the base model first
Ask the seller which IWC reference the watch is meant to be, then get a clear photo of the caseback engraving. Reference numbers are stamped between the lugs, and a mismatched engraving is the fastest way to spot a lazy build. If the listing cannot name the base model, stop. You cannot judge a copy of a watch nobody has identified.
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What to inspect in the photos
- Case diameter and thickness, measured rather than quoted. A millimeter of extra thickness usually means a cheap movement spacer.
- Dial printing under magnification. Look for ink bleed at the edges of the text and uneven spacing around the markers.
- Applied indices. They should sit flat and catch light the same way on both halves of the dial.
- Date window position and font. This is where most revisions genuinely change something.
- Hands. Check length, finish, and whether the lume matches the dial plots.
- Crown threads and tube. Gritty threading shows up fast in daily use.
Movements
Most IWC-style replicas run a Miyota 9015 clone, an Asian 2892 clone, or a decorated automatic with a rotor meant to suggest an in-house caliber. The decorated ones photograph well and service poorly. Ask what is inside, then ask whether a local watchmaker will touch it. If the answer is no, plan on replacement rather than repair.
Common tells on this style of build
Sunburst finishing that is too coarse, a seconds hand that stutters instead of sweeping, caseback engraving that is shallow and laser-flat, and lume that fades within an hour. Any of those can turn up on a v4. Check the strap or bracelet fitment at the lugs too, since a gap there is hard to photograph but obvious on the wrist.
Pricing and expectations
A version tag usually adds ten to twenty percent over the previous run, not more. If a seller wants a premium well beyond that, the number is marketing. Pay for details you can see in photos, and pay with a method that gives you a dispute path if the watch arrives wrong.
Legal context
Counterfeit watches are subject to seizure at the border in the US and most of the EU, and passing one off as genuine is a separate offense. Factor that into the decision before you spend anything.