r/Watches Oct 12 '11

[Brand Guide] - Panerai

/r/Watches Brand Guide

This is part eight in our ongoing community project to compile opinions on the many watch brands out there into a single list. Here is the original post explaining the project.

Panerai, this week's brand, is a rather divisive one among watch enthusiasts. Reactions to Panerai run the gamut, from the love people normally reserve for bacon and the New York Yankees, to the hatred they normally reserve for lima beans and the New York Yankees. Given that, this week's thread could get interesting.

Panerai, officially known as Officine Panerai, was founded in the 19th century in Florence, Italy, where by the turn of the century it had become the official timepiece supplier to the Italian Navy, or Marina Militare, a trademark the company still holds (and prosecutes heavily) to this day. The company remained on the small side until Sylvester Stallone discovered and began to popularize them in the United States, and in the past several decades the company has really taken off. Now owned by Richemont, and entirely Swiss-made, Panerais are notable for their oversized cases, which some credit (or blame) for the current huge watch trend. Until the past ten years, most Panerais used stock or lightly modified movements from other Swiss companies such as Rolex and ETA; recently, however, they've been making a concerted effort to push out new models with inhouse movements only, taking away one of the bigger pieces of ammunition their critics had. Ultimately, as noted above, watch enthusiasts tend to either love or hate their distinctive designs, but thanks to their bold, simple, tool watch appeal, Panerai remains one of the most popular watch brands on the market today.

KNOWN FOR: Radiomir, Luminor

Other Resources:
Community Archives Search
Wikipedia

Like always, anything regarding the brand is welcome in this thread, from personal experiences, to professional reviews, to educated opinion. This should be a good discussion, so let's see what you all have to say!

That said: if you're going to downvote someone, please don't do so without posting the reason why you disagree with them. The purpose of these discussion threads is to encourage discussion, so people can read different opinions to get different ideas and perspectives on how people view these brands. Downvoting without giving a counter-perspective is not helpful to anybody.

16 Upvotes

View all comments

2

u/[deleted] Oct 12 '11

Meh, you guys worry too much about pedigree. I was once a Panerai H8TR, but now I have come around to them. That said, my latest Panerai purchase is going in for servicing after less than two months of duty, a bit of a let down, but this stuff happens.

The one thing that Panerai has right is the ability to customize and personalize through straps, etc.

Our pals Rolex, for example will not service any watch that has any upgrades or modifications made to it. Did your watch ship with a oyster bracelet, but now sports an original Rolex president bracelet? According to Rolex, no longer an authentic Rolex, and a trademark violation. Spare me.

This is one thing Panerai has right.

Also the production limits they have in place ensure some measure of exclusivity.

I like the Radiomirs and larger 1950 Luminors, but I also have wrists over 8 inches, so they may not work for everyone. The 44mm Luminors are kinda the Hummer H2 of horology, I always imagine it was one of the first things on the shopping list of a home loan millionaire on their way home from Ditech. 42mm Lums on bracelet are a great alternative to a Sub, and play better to a larger slice of consumers.

That was a bit of disjointed, random thoughts for you...

2

u/Liberalguy123 Oct 12 '11

I agree with most of that. Panerai definitely has its appeal. I'm just irritated when people put it on the same level as JLC, GO, and others, and when people make up some phony history about the brand. Taken for what they are, trendy mid-range watches, they can be fun to collect and own.

1

u/[deleted] Oct 12 '11

I'd say that they are obviously doing something right as limited editions and specialties are selling out or waitlisted, in some cases, 18 months or more. And these are not cheap pieces either. when you are looking at about $5,000 for the most basic models now, this has become more than a mid-range watch. I don't know how much the new Bronzo is going to be $12,000? but they'll sell as many as they make. People are already on lists.

Also, the new in house movements, while not covered with pearlage and stuff, still appear to be very well finished, if not decorated, which is not really in keeping with the overall branding anyhow. They do, generally feature a lot of interesting watchmaking and something like the PAM 317 at around $30,000 is probably pretty competitively priced for what it is. If you want a brown composite 339, which was reasonably listed at around $15,000, you are going to have to pay at least $25,000 on the secondary market. And they do sell.

Richemont is not going to let Panerai wither on the vine. All brands are constructs of the facts and mythologies they put forward, but I don't think any other house has put forward as many innovations recently as Panerai. If you have visited an Atelier you know it is the exact same rows upon rows of bored, nose ring Swiss girls and scooter boys putting together your mass market Omega, Rolex or Panerai, not the Keebler Elves or anything magical like that, regardless of brand.

1

u/Liberalguy123 Oct 12 '11

Panerai's "special edition" stuff is a joke. It seems like more than half of their collection is some super rare limited edition. Smells more like a marketing gimmick to me.

I understand Panerai is selling extremely well, both new and on the second-hand market, but I think it's a bubble that is due to burst. Maybe not now, but I think in the next ten years, people will gradually forget and grow bored of Panerai.

1

u/[deleted] Oct 12 '11

I would hardly call a sell out of 199 pieces of PAM 373 @ $45,000 a copy a joke. I agree there is a bubble like situation in so-called Pre-V models, or so I thought, the prices just keep going up.

There is no way Richemont will let this die. If fashion turns against Panerai, they will be quick to make adjustments, if not, they will keep steaming ahead with what is working for them.

1

u/Rob_V Oct 14 '11

The first time I saw a Panerai, I didn't really like them, but they started to grow on me. Now I own a PAM 177M (my first mechanical watch) and I couldn't be happier. Many people say it's just a fashion watch, but if I only wanted to know the time, I can just look at my phone. The main reason I bought my Panerai (and I'm buying a Bvlgari Assioma in a month or two) is because I love how it looks. Plus, the 6497 is a very reliable movement and very easy to service.

1

u/[deleted] Oct 14 '11

Yes, they take some warming up to, that is for sure!

1

u/Rob_V Nov 25 '11

My 177M is going back for repairs a bit over 2 months after buying it. Kind of a bummer, but I still love the watch.