I'd just like to (humbly) help flesh out Stib's answer a little:
There are a few ways of doing this in Premiere. The easiest way is to use the wipe preset in the effects list (Video Transitions > Wipe > Wipe); pop your footage side-by-side (or one on top of the other) and drag and drop the effect from the list onto the cut in the timeline (or onto the end of the shot if you're stacking them).
Alternatively, you can use the 'Crop' effect on the top shot in a stack (as Stib suggested) and animate it or you can create a mask (within the 'Opacity' section of that shot's effects panel) and animate the mask path.
While you'll get better control and results by doing this in After Effects (and you'll have an easier time of animating a nice bisecting line to show where the wipe happens), it is entirely possible in Premiere.
you can get these effects on both premiere and after effects.
- Duplicate the original video/pic
- Add color adjustment on the duplicate video/pic
- Apply the wipe transition
- Apply the transition effect using Linear Wipe on all files
- Adjust the linear wipe to the desired time the wipe applies
Another way to apply the transition with color effect is by using mask the tutorial starts at 3:07 click here to view the video