Hello Richard,
Thank you for sending in your JLC wristwatch to mearto.com for an appraisal. I shall try to help you with that today.
TITLE:
Gent’s, rectangular and reversible, two time zone, double dialed, stainless steel wristwatch with a stainless steel Jaeger- LeCoultre bracelet having a double deployant clasp, “Reverso, Duoface, Night and Day” model, Ref. 270.8.54, made by Jaeger LeCoultre, circa 2002-2005. Currently accompanied by the original box, certificate and an additional blue leather strap.

DESCRIPTION:
CASE – 37mm x 25mm x 9mm, five leaf, polished and brushed stainless steel with reeded bezel above and below the dial, sapphire crystals overlie the two dials. The case is well integrated with a polished stainless steel Jaeger- LeCoultre bracelet with double deployant clasp. . .
DIALS - On one side, guilloché anthracite dial, off-center ring with luminous Arabic hour indices at the quarters with applied steel dart hour markers for the balance, all on a plain reserve, a subsidiary dial for the second time zone in 24 hours in painted Arabic numerals @6 and the indication NIGHT/ DAY on either side. Luminous steel lozenge hands with the upper dial signed “Jaeger Lecoultre”. With the pusher on the band, the hours may be forwarded independently from the obverse dial. On the other side there is a two tone guilloché silvered dial with painted upright black Arabic numerals, bar minute ring in rectilinear track to the inside, and a concentric subsidiary seconds’ dial @6. This dial is signed, “JLC, Reverso, Swiss made”.
MOVEMENT - Not seen in the photos but this should be the JLC Cal. 854, a copper-colored, damascene decorated, 21 jewel, straight-line lever escapement, monometallic balance adjusted to 5 positions, shock absorber, self-compensating flat balance spring.
This movement operates both dials. Dials, case and movement quadruple signed.

CONDITION:
CASE/BRACELET – Excellent
DIALS – Excellent
MOVEMENT – Assumed genuine, original to this case and fully functional.

CHRONOLOGICAL HISTORY OF THE JLC REVERSO -SEE:
https://www.timeandwatches.com/p/jaeger-lecoultre-reverso-history.html

COMARABLES (In 1994, Jaeger-LeCoultre introduces the Duoface concept with the back of the watch featuring a second dial although driven by a single movement):
https://www.barnebys.com/realized-prices/lot/jaeger-le-coultre-ZBFilO7A2Tv (sold for $3852 in 2019)
https://www.barnebys.com/realized-prices/lot/jaeger-le-coultre--PeaBN6Ep (sold for $4560 in 2018)
https://www.barnebys.com/realized-prices/lot/jaeger-lecoultre-reverso-duoface-night-and-day-ref-270-8-54-n-1928946-CxxGJ5V5SE (sold for $5127 in 2017)
https://www.barnebys.com/realized-prices/lot/jaeger-lecoultre-a-mid-size-stainless-steel-reversible-manual-wind-bracelet-watch-reverso-night-and-day-ref-270-8-54-circa-2005-jEuui-olGL (sold for $2586 in 2017)
https://www.liveauctioneers.com/item/76222185_jaeger-lecoultre-steel-reverso-duoface-ref-270854 (failed to reach $3000 minimum at Christies in 2019)

A very impressive and classic looking model in excellent condition. I believe that in today’s demanding marketplace the fair market value of your watch would range between $3000 and $4000. Retail prices would be higher of course. Finely crafted top of the line brand wristwatches have done well in 2019 and started to get stronger in 2017. I think that your own example can only improve with time unless Swiss watches hit another rough patch as they had in the early years of this decade or if we go through another recession like we did in 2008.
I hope that has been of help to you today in understanding your example and where it fits in with the maze of other Reverso models made since the 1930s.
My best,
David