It’s funny, I don’t really pay attention to trends or resale. I purchase for what makes my heart stir. (Sorry about the romance. ;) As an example, I’ve had 5 Porsche’s (not bragging, it’s important to the story - I was broke all my life, worked as a valet until 40, so take it easy, lol), and all very recent models in the last 6 years. My last was a 2018 911 GTS. Looked badass and had every trick in the book to go fast and make you look like a rockstar on the track or canyon. (And was considered in the industry as a great buy.) But I was bored to tears. So I traded the 2018 in for a 2011 911 GT3. (The GT3 is raw, stripped down, harder to drive, manual, loud, NA, and forces you to actually do the driving.) My heart pounded and my smile hasn’t left. (And you see very few.) Why the story? I’ve looked at Rolex, Omega (Speedmasters), and many other high-enders. But I find that while they’re an awesome product in many ways, they’re the common go-to for a nice watch, and well, a bit boring/predictable...personally. (They feel like old guy watches. Lol.) I’ve had automatic TAG chronos, a few Chopard XL GT’s, and an IWC Aquatimer chrono. (I know, questionable taste, but what you gonna do?) All were cool, but like the Porsches, missing something. I bought a Pam 24 and loved the dial, but not the robot-like bolts on the bezel. Then grabbed a pre-owned but unworn Pam 90. Beautiful, low key and luxurious without the douche-y vibe. (It’s also unusual and masculine.) It’s the perfect “nice event” watch, with just enough bling, but yet understated. Love it for that purpose, and am keeping it. But I wanted a 44mm regular case, like the 90 but with the 24’s (submersible) dial. I finally found a limited edition Regatta which was exactly that - and new old stock, and a limited edition of 500. (Papers, manual, box, authenticity guaranteed.) It’s freaking badass. At 44mm it’s not too big, but still prominent, brushed steel instead of polished for a less posh, more everyday look, and that freaking dial with the submersible look (waffle-board dial, circular indices set on top of a slightly larger steel circle, skeletonized hands, inverted cyclops, small seconds dial and offset power reserve), well, it just felt perfect. And like the cars, it’s not about the dough or the resale - for me - it’s about the feel when you put it on, and the smile when you look at it. So there it is, out in the open. I’m late to the watch game, and even later to the Panerai game, but who cares. Buy what you love, and wear what you love. If that’s a Rolex, rock it. Omega, rock it. Fossil (sorry), rock it. Me, I’m in a Panerai vibe right now, and who knows, I may move on, but it’s hitting the smile button pretty hard, even if it’s not the preferred brand of the moment. And even if I lose all my money. I bought it to enjoy, not for an investment. Life’s too short to not enjoy whatever it is you truly enjoy. Trends and coolness be damned. ;)
agreed...one of my favorite watches i own is a Longines V.H.P. Chrono, PVD Coating with Carbon Fiber dial. i know what you mean by that feeling when you put it on...it's just awesome and i want to just stare at it.
LOL at the 😂 reference on the Fossil. Great insight. At the end of the day, buy what you love and passionate about not what other people would think is cool. I rocked the Omega Speedmaster Broad Arrow GMT chronograph. It is a discounted model released on the mid 20s. I love how accurate it is, not to your typical main stream Speedmaster professional and has more complications.
Used to like Panerai and owned 4 of them, but sold 2 along the way and now the remaining two is too low in price to sell. I think you got it right about 90%, a lot of Panerasti in my country (Taiwan) became sick of the brand because of its sales practice, where they would sort of force the collector to purchase the limited edition watches (ones that are hard to sell) in order to prove their loyalty to the brand. And like you said, they basically all look alike! I can be wearing 7 different Panerai watches each day of the week, but my none watch collecting friends won't even be able to tell the differences. Now there are tons of used Panerai on the market now and if you really liked the watch for its design, look, brand history and didn't have the determination to get one before, now maybe a good time to get one.
Well, my Luminor Marina 44mm Ti 8 days could replace all my Rolex's, Omega's, IWC's, Breitling, Cartier, JLC, etc. and be my only watch, and I'd still be a super happy guy. So I'm all good. I know what you're saying though.
@@jukebox1794 You got that wrong sir. I do not suggest that they lower their prices significantly. The point is skimming the luxury consumer market. How many Panerai Luminor watches are below 7k MSRP? ? Isn't Rolex a luxury brand, how about Tudor and Omega? and they all have watches in that range. It is not a poor man's snobbery talk. It is the science of pricing. They need to watch the luxury market, competitors and price accordingly. I believe if Panerai is smart they can offer more entry level NEW watches to get people interested. A luxury brand that is dying and people are turning their face from and sales is down is not a luxury brand. It is a sinking ship. Luxury products should be priced higher for the sake of lluxury and everything that comes with it. But a little bit of common sense about pricing does not hurt.
@@jukebox1794 I guess we have to wait and see in 5 years which strategy would be fatal: creating a cluster of lower priced watches to lure people away from the secondary market and get new Panerai on their wrists, or doing what they are doing now and no pricing adjustment. I will put this on my calendar to get back to this comment in 5 years.
@@jukebox1794 I do not think doing a smart pricing is that hard. The watch industry is super backward and completely ignorant of the new technologies.With good data analytics and consumer data they can snipe the right price that not only won't hurt the luxury alure of their brand but would make them more money. I am sometimes surprised at the level of arrogance and ignorance of watch companies. The other industries are killing it with data/AI, and they even cannot hold a good website.
Panerai is very popular here in Japan. My favorite watch shops in Tokyo cannot keep the popular ones in stock. Prices have bounced off the bottom and are trending back up.
Panerai is dead for flippers. And so is JLC, IWC etc. But not every watch buyer is a flipper. Panerai should be a small independent brand selling their core models. But they are being milked for every penny by a publically-traded conglomerate.
“Panerai is dead for flippers” this is exactly it 🤣 some people who talk here have never even worn a Panerai themselves I feel. Cause honestly its a pretty fucking good watch
@@jhudiel999 exactly, still selling well and the good thing now you can get them new at slightly below retail. Most Panerai haters I know never owned one and also, most of them can't afford to buy luxury watches. I love my Panerai, Rolexes, Seikos and IWC. I buy because I like to wear them and really don't care about the resale market value.
I only bought panerai as second hand. I don't think about resale value I like the utilitarian design and use them as they were supposed to be used. Nowadays nobody really cares about your watch so use what you like.
I agree in principle with everything you said.. I only have a comment about how 1 point you highlighted which I believe is not correct and misleading.. The green Marina Miltare is a limited special edition for around $40k, but that isn’t for the watch only, its for the experience where you travel and dive with the Italian navy.. similar to the Nery edition & Horn edition..., The same watch but not special edition with white numerals is for around $20k which is still a stretch in my opinion but at least its the real facts which is clear to buyers & consumers... Your comment makes it seems Panerai is taking consumers for fools... As much as I’m disappointed with the brand I still give them the Benefit of the doubt and I appreciate their efforts and I am a die hard paneristi...
Doesn’t Rolex have models that all look the same? Sub, Deepsea, Yachtmaster are all like a bucket. The same for DD and DJ. Only Celini is completely different. Omega Seamaster and Speedmaster share the same case.
You are crazy, panerai is one of the richemont group where i work with pride and i inform you that it is currently the brand that has evolved the most in all sales. was the 2nd brand in the group with the most expansion. Making videos just for doing sometimes goes wrong and we look bad in photography when we don't know what we say
Ikr, and its like every youtuber is saying the same, it's like they are ganging up on Panerai, trying to shape/re-engineer the market. Why don't they go after Rolex? They don't innovate, its the same watch since forever.
Bought a pam 616 for about $11k. with box and papers. Thought i got a great deal now i realize may have over paid. Only one in my collection and i absolutely love it. Panerai will come back. It will take years but they will.
last July 5th I bought a new Pam1312 new from the Miami Boutique. I had a wild hair and wanted it. List 7500.00 300m and nice accurate , in house movement. I consider myself a great negotiator. It took me a week to save $125.00? I am 57 yrs young had watches Seiko , G shock since 10-13 yrs old. My collection is made up of 3 Rolex’s, Cartier roadster, Omega speedy pro original moon watch , hand wind and plastic crystal, Sinn104, longines gmt, Seiko Alpinist green dial😎.. a few G-Shocks and beautiful Brietling 18k an SS , Chrono white dial ( Vitesse).. my Rolexes are 2005 circa brand new purchased at a discount and worth more than when I purchased them pre-ceramic ttheir awesome watches. And my father left me his original 1981 Rolex Quartz, which is very cool and very APish;) The point is I now I know I overpaid.. But I would not sell it anyway. I love it get lots of compliments. I have a couple custom-made bands from Sanders in the Netherlands. I looked at today’s prices and it went from 7500 last July to 7700.00 from everything we see on RU-vid and everything you say I agree with. But they’re still surviving and their prices are increasing not going down? All I know is I could’ve gotten it on the gray market for probably $1000 less brand new but I don’t do that, I wanted the full warranty and papers because of the in-house movement. I’m happy but disappointed to hear that they’re dying and that I paid too much.
I think it's worth mentioning that there were a lot of very good counterfeit Panerai watches in the past 5-10 years, which hurt the resale and image of the brand (This also occurred with Rolex for a period in the 90's). I think the brand can remain relevant due to their iconic designs; people do know what a Panerai looks like which is a big plus, but they are caught in a tough era where they are known for big and bold watches, and the trend is going towards smaller and more refinement. I thought the Due was nice and would have been good for today's market if they didn't completely botch the water resistance...
Totally agree. It's hard to buy grey market or used because the fakes are so good they are even fooling watchmakers and some say even Panerai themselves. This makes it to where you can really only buy from an AD but they're way overpriced so ........no sales.
@@michaelbishop9157 Even if the counterfeiters can almost perfectly copy a watch and its movement/finishing, it has more to do with the confidence and perception of the brand. If counterfeit watches make their way to pre-owned sellers, it deteriorates the brand (like TECH-FGHTER mentioned), resellers will no longer buy the second hand watches, owners cannot sell their watches because of the potential fakes and therefore the watch loses monetary value. Panerai was using ETA movements which are easy to replicate, and I think that is one of the reasons Panerai had to develop an in-house movement (to protect their assets). Consumers want confidence that the brand can protect its product, which is why Rolex had to implement security features on to their watches, e.g. bezel rehaut markings and such.
the Rolex super replicas have not hurt the resale of the brand though, so it's not because of that reason. The fakers have even started cloning Rolex in-house movements and perfect alignment of the rehaut, no joke. Some of the super reps are virtually indistinguishable these days.
Luxury watches are pretty dead in general, the hype concentrates on Rolex, Pateks and other select pieces. A Jules Audemars sells for penny’s on the dollar too. Panerai is a great second hand buy, every watch enthusiast should have at least one. Panerai was a small boutique brand before Silvester stallone and the hype, they should go back to that.
The $40k price is not the price of the watch, Please be accurate with your reporting😤😤. Panerai will come back because they have unique and iconic design as well as a hefty presence on the wrist. It is a watch that can be spotted from a mile and not be mistaken for another watch brand. My wish is for them to narrow their offering and adopt the Rolex strategy in production of the professional line. No precious metal offering would be great, and yes I do love Panerai 👊👊👊🤠
Panerai is a classic and am a big fan and do own the 312 which i will.never sell.The brand is looked upon in every country i hv been to and even if a guy is wearing a Rolex their gaze is on the Panerai..including in the US..and believe me i hv travelled the globe literally. The brand is expanding very much in China, India. Japan and even Europe. This is what is as per my info and experience.
Another well put and informational video John! I have been thinking about Panerai and how the pre owned prices are continuing to drop. I’ve considered buying a base Luminor just because it is such a classic tool watch design, but maybe I should wait a couple years and maybe they’ll get cheaper!
What ended for me was the addition of spring bars replacing screws for the Luminor case and the drop from 300m to 100m water resistance. What were they thinking?! And the endless limited editions has taken it's toll finally.
Hi John, I've just watched a couple of your videos and found you very interesting. You made one about brands which have very poor resale values, and what you said made a lot of sense. I then watched the one asking is Panerai dead - well I hope not as they are one of my favourite brands. I was especially interested as I'm buying a used rose gold submersible next week. I already have a GMT Marina but the sub was the holy grail for me. I considered for a long time buying the carbotech 00661 and came very close recently, but I just couldn't ignore the reflection from the gold dots on the dial onto the inner edge of the glass. It is such a shame as I absolutely love the design, it's so eye catching. When I mentioned this to the sales person they just said no they hadn't had this comment before and perhaps it depends what light your in ? I spoke to the Panerai concierge recently about a different watch and mentioned the reflection issue, and he straightaway said yes he knew what I meant. How come no review anywhere mentions this. Anyway, no such issues with the sub, and I'm sure I will spend the first few days just looking at it with dilated pupils ! Finally, what you said about the website. It's totally crap. The old site allowed a search for a type of watch; width, strap material, colour, etc and it would then show all applicable models with an option to view all the technical details, right down to the movement depth and number of parts. The new site is all fur coat and no knickers- I commented to Panerai more than once that it made browsing for a watch a chore, not a pleasure. They paid someone a shed load of money to ruin the website I'm my opinion. I'll definitely watch some more videos, but a suggestion for you. The best watch reviewer is Tim from Watchbox and he always mentions the company name right at the start. You leave it until the end, and it's that clear - is it Delway, Delray or Delaway.
Hi, John. Love your videos, thank you! I know lots of Panerai die-hards dislike the Due (a lot). But I bought one and I love it. I realize it doesn’t have the “cool” of a larger Panerai, because of the Due's low depth rating and the non-screw-down case back. But I *never* dive, so I truly don’t care about water resistance. The watch looks gorgeous (as most Panerais do) and it operates beautifully. Very classy look. So, I know the Panerai enthusiasts are not fans, but I’m just a basic watch enthusiast (not a major “Panerai guy)... and I *love* my due.
bought a Luminor Due Pam906 for my wife. She was choosing between a luminor marina 44mm and the pam906. at the end she chose the 906. pretty nice and a cool looking watch and i don't bother about the low depth rating.
@@nitric75 You should! Their legacy is in dive watches or what used to be. The due looks nice but 30m WR and the crown lock why? But if makes you happy that's all that matters...
@@NathanChisholm041 Its a present for my wife. She is not bothered by the 30m WR and she loved the watch, so why i should be bothered by it? Afterall, i have my own pam1389. I was told by Panerai Malaysia that the Due 42mm, particularly the 906, sells pretty well and in high demand. So i guessed most people are not bothered by that too.
"The reports of Panerai's death are greatly exaggerated", as Mark Twain would have said :) I also recently got a PAM2392 and it is easily my favorite watch over presumably "better" and more posh brands that I have. The new crop of 42mm ,100mm WR watches seem to do really fine and also the Due-line attracts new fans and clients to the brand - ladies, those who want a slimmer and dressier version of the iconic design, etc. And then it goes to a very simple consideration - Pam is not for the investment-minded folks. Or the fashion-pashion players. This brand is for those who live in the present and act on it. These folks seem to not care much about small stuff like resale value, flickering opinions of influencers and the Facebook fluff. Much like Sly and Arnie used to be, when no one cared about the brand. If one likes Panerai's design and feeling - there is literally nothing else like it, no matter the price.
The vintage models (those supplied to the Regia Marina, etc) are interesting, sadly, however, the modern iterations are awful. Don't get me started on the ridiculous looking crown guard.
Gregory Paul Box A lot of those “originals” were fakes and frankenstein’s anyway. That’s how the Paneristi were suddenly “discovering them a few years ago. Those same cowboy forgers are now hammering together Rolex Milspec Subs, with fake bezel, repainted dials and engraved backs. There are now almost more Milsub Rolex in collections than there were ever issued.
and re those fakes and frankenstein’s, I know at least one guy who played swap the dial, case and add an alarm clock movement and suddenly had an incredibly rare Panerai. I think bullshit. And now the guy suddenly has a source of ex Royal Australian Navy Submariners. Just like that........ BULLSHIT. Bloody paneristies were the vultures of the watch industry, flipping and faking. If I catch them doing it with Rolex I will push the submariner up their arsehole.....
As a former Panerai owner, the brand lost their way when then went to a full in house boutique strategy. They priced themselves above Rolex which was insane. They no longer bring value. I was offered a boutique limited edition at the Oia Greece boutique at more than 30% off. Try getting a Rolex for 30% above retail and you’ll get laughed it. I passed as I looked up the used value of that model and it was 40-50% of retail. That’s sad
It's a Shame. I love Panerai watches. Most people that can afford these watches are older men and a lot of the kids just want Hublot and dumb flashy watches. I think a lot of these more established simpe design watch companies will struggle eventually.
Growing up in a sailing mecca, the sailing community is a Rolex community. Granted Rolex marketing has kinda moved on and shifted more to golf, F1 and tennis, but most sailors I know who buy luxury watches mostly buy Rolex.
I discovered Panerai back around 2008 when their Belle Époque was drawing to a close. They’d become part of Richemont roughly a decade earlier and enjoyed a truly meteoric rise in popularity with pieces selling well above retail on the secondhand market whilst developing a fanatical following, the Paneristi. Around 2010 all that changed. There were two major driving factors, ETA had been forced out of their virtual movement monopoly so they went to the Richemont movement manufacturer Val Fleurier who was making the movements for most of their other brands to provide alternatives. The new P.3000 and P.9000 movements replaced the ubiquitous stalwart 6497 and 7750 workhorses they’d previously used in the majority of their watches. They were somewhat disingenuously referred to as “in house” to justify their second mistake, a whopping price increase. From 2010 onwards they also markedly increased not only their production numbers but also their range of models saturating the grey and secondhand markets. The P.3000 is also significantly thicker and uglier than the 6497 with huge nondescript brushed bridges that apart from obscuring most of the mechanism look incredibly incongruous in their “historic” range of watches. The additional thickness of the movement was also particularly noticeable in the geometry of the later Radiomir cases making them appear bloated and chunky when compared to their svelte predecessors. In the last ten years the trend of less for more has continued, they’ve made some decent watches but they’re less frequent and vastly more expensive than they used to be. They’ve milked the earlier success to death and lost their mojo. We will just have to see if their new CEO has the vision and what it takes to get them there or just run it into the ground.
Rolex looks even more ‚the same‘....one Rolex to have is enough, like Panerai as well. Love my Kermit and my PAM 312. Panerai compared to other brands is immediately recognizable and unique in its own way.
Watches are good looking, but the prices are ridiculous. For the prices they’re offered at, I would MOST DEFINITELY get an A Lange or JLC with complications. Or any number of brands in the haute horology bracket. Panerai makes tool watches and should be priced as such.
Tom The Fish lol. Some may think thats appropriate. I think they’re definitely valued under Rolex... probably equal to Omega or Tudor sports models. Nothing more.
Tom The Fish when they were using Unitas movements, I agree, I’d value them right around Doxa at 2400 retail. When they went with their in-house movements, IMO, they moved up market slightly. More comparable to Tudor.
I am very disappointed with Rolex- those waiting list story. That day I talked to someone that really down to earth, his comment for Rolex is for old uncle
Hmmmmm. I completely disagree with this guy. These are great watches and very unique. I think once you get past Rolex, every other regular man brand is subject to the same discounts. Omega is in that category for sure. Personally I own 2 Pans 4 Rolex, 2 Pateks and 3 Omegas. I always wear my Pan. I am a fan no matter what John says.
I love the brand but I must admit you are right, I bought a PAM 104 preowned for 2/3 of its original price and I thought after buying it : Should have I gone In-house, or with complications ? and then I realised if you like panerai you should stick to their workhorse, everything else in their line above 5k is bullshit (and almost everything is above that !). i understand the "dead" factor from dealer perspective, but damn are they cool for anyone else, anyway thanks for good content
Needless to say the new direction leaves me cold, especially at 40 grand a pop. Now at 10 grand ballpark are watches that I think are the cats whiskers - Radiomirs PAM 00790 & 791; this is the direction they should seriously consider, they are beautiful watches, and in the end aesthetics is what it is all about.
Everytime a brand try to price themselves into a higher niche, it inevitably fail. It has to happen organically, or else it feels phony. Why brands still think they can be the one to break the mould is beyond me.
@@JohnPWatches I don't know. When Omega brought out the new ceramic bezel Planet Oceans with the in-house 8500 movement they were pricing it close to $10k for the three-hander. Now they are back down to a more reasonable $5-6k. Same with the Speedy with the the 9300 movement. I believe Omega should resides between the $5-7K sweet spot. As soon as they make a break for the $10k mark it just doesn't seem to have alot of value proposition.
I have never been attracted by Panerai for their huge size and very high prices. I think the trend of these massive diver and military style watches is gone a bit and people are starting to buy 40mm watches again, especially at this price tag.
Right on time. Should I get on while prices are deflated. Was browsing last couple of days. Always liked the Luminor. Or am I just wasting my next Rolex $?
Marketing 101 for an upscale brand is to connect to an upper class sport like sailing or polo. That is the simple reason Panerai has attached to sailing. It connects to their history of being a watch for the Italian navy and amongst the first diving instruments. Soccer or some other sport would not make any sense but sailing is a perfect fit.
I have four panerai real ones and love them so much better than rolex or omega, this video is now 4yrs old and guess what they are still going strong. 2yrs later have another 2
Needed to mention that those $40K watches come with an exotic trip like training with the Italian special forces for the green one. Or trip to the artic with Mike Horn
Yeah definitely bounce back l picked up a Pam 372 at watchfinder at a great price right now great time to buy at great prices going to purchase another one soon. I have Rolex Submariner and Rolex steel Daytona l prefer Panerai watches over Rolex brand.
Panerai makes several models I would love to add to my collectiion. They are pretty much out of my price range. Maybe some day... I do like the new edgier models. Keep up the great vIdeos!
Hi John, I do like the Panerai website. I have to say it was easy to find both the radiomir and luminor collections though. I am in the UK, so maybe that makes a difference?
Have 5 panerai and just found a 323 10 day which is awesome Been watching 'panerai are dead' videos every year from youtubers for the last 10 years. Its a Constant source of amusement. Interesting video even though I think dealers always have certain angles they want to target. I have to admit I don't sell panerai I just buy them as I love them so much.
The retail prices went too high too fast and the in-house movements don’t even look so aesthetically pleasing to justify the price. They should be eating up the R&D costs for new movements, the market clearly doesn’t want to cover it for them. The market prices are being determined for them right now. That being said, zig while everyone is zagging, if you love Panerai or a Panerai, it’s a great buying opportunity. Also, brand perspective from someone who loves Panerai and a watch dealer are going to differ anyway.
Some really good points, but the situation Rolex is in(not enough watches and long waiting) gives Panerai a good chance to get momentum again. You just have to choose the correct models! For me, new Rolex models are boring. I can recommend: Radiomir models as PAM244 and PAM245 have good momentum. The same with Luminor models PAM372 or PAM422. The newer P9000 movement PAM1312 and PAM1321 are great buys at the price and aren't to pricey compared to Rolex. My dream model right now is the PAM533. I think its much cooler to have a nice Panerai than er Rolex sports watch or datejust... Sorry to say...
Very interesting video, however you’re wrong to state that the in house P movements are used almost across the range. They are reducing the number of models which have their own movement- for instance the rose gold submersible 00684 had P movement, but the replacement model is identical except for the fact that it has a non Panerai movement. For £22,300 !
All Rolexes look the same imo. I have the PAM183 (45mm Radiomir), 242 (45mm Radiomir automatic GMT with double crown and rotating bezel), 249 (47mm Radiomir with anonymous California dial), 425 (47mm Radiomir with minimalistic SLC dial) and 305 (47mm Luminor titanium submersible) and they all look very different.
Short answer yes. Snap back cases, non transparent case backs except for gold models so they can save money. Constantly changing features and lineups. The catalog in 3/2022 is ridiculous.
I shared similar perceptions about PAM like most, it's big, it's costly, avg quality etc. Now, I own three last one been the 42MM Sub. I also own a 43.5MM Rose Gold all out GMT. And after years of wearing it's the controversy that is the turn on. It is the watch that most people compliment specifically the gold one. Yeah, it cost me a nice Camry but shit do I enjoy wearing it. And the 42MM, screw it. Great looking diver. Hugs.
Panerai is for the real man, not for baby wrists. That is the fact. Is a polarizing brand, you like it a lot, or not at all. If you're buy a watch for others, buy a Rolex for 2x-3x thi Panerai price. And good luck. In Asia the market is bad for Panerai because the average wrist size for Asians are not build for this kind of watches
You are right about all you said. And they did price themselves out of the market. The endless special editions are a big problem because nothing is special anymore. The company then started to neglect their core collectors and stopped holding events that were advancing their cult status. That was the last straw.
Their watches are too big. There is virtually no below 42mm watches in their catalog, unless you go used, but it's very rare. This is why nobody wants them.
Hey John, I really like your shirt in this video! You also seem to be in good shape. Please try to motivate Fededirco to come with you to the gym. I don't want him to be an Adonis, but it wouldn't hurt him to loose some pounds and improve his health! Btw a good watch video as always!
Panerai's website has been cleaned up and is much easier to navigate now. I can't believe the prices of some of their watches. I guess what they are losing in volume, they're trying to make up in margins. Can they rebrand as a luxury watch maker...sure, but it will take time.
Thanks for this video. Interesting view on Panerai. I think that Panerai made some bad decisions lately with the brand. I will explain my opinion. 1) Too much special editions the last years. This is bad for collectors. 2) The Due line up is a big mistake. If you want to create the Due line up they should use the Radiomir case for it. The crownguard on the Due looks silly and misplaced imho. 3) The new sport divers you mentioned cost too much and are also too big imho. I really liked the 305 and the fact that it is 47mm and Panerai made some great 47mm divers in the past, but they should not entered more 47mm to the line up. Watches are becoming smaller these days so the trend is smaller. If you want to sell watches why would you make big watches. The BMC and carbotech watches should be in 44mm imho. I am still verry happy with my 233 with the doomed crystal and 8 hours power reserve indicator. My grail Panerai. I also have a 312. My first Panerai and I was so proud off it. I am thinking about selling it, but I still like it although it gets less wrist time. Panerai should re-think their line up and make some decisions. I would love to buy a 44mm 305 with ceramic bezel and power meter indicator and scale to set the time more precisely. Panerai could also make thinner watches in 44 or 43 mm with steel bracelet. A radiomir case in steel bracelet variant could be interesting? Just my 2 cents.
@@herts9999 is right- people try to get higher numbers on the forums, but then they don't sell it so they shop it to the dealers and the dealers do not want to stock it even for less because there is no data on sold listings to show what they can sell it for. It is unfortunately because they make some neat pieces.
@@herts9999 not sure on other country but in my area most of the pam traded to used market at around ~ 40% depreciation, they either take the offer or leave from the used dealer with their pam. Funny thing though, used dealer will take those traded pam and touch up cosmetically, service it and repacked in their window display desk and resell at 50% more than what they paid to the previous seller. they dont care bout stock fast moving or not...smart, isn't it?
Tom The Fish so I have to be a pilot to own a pilots watch? I have to be a race car driver to buy a chronograph? And a 30 meter watch isn’t suitable to go in a swimming pool or the shower! Heck, with 30 meters, you may have to be careful washing your hands. Yes, it’s a dive watch unsuitable for the men’s room in the jewelry store where you just bought it! Hahaha!
Tom The Fish I gotcha. I have a Tag Professional that costed me $850 new 10-12 years ago, that is 300 meter I think, and an SKX that I love, at 200 meters and $300.
So based on your very small store you are saying Panerai are dead. Have you not seen the new models and the very limited editions, you could say the same about Rolex all they do is release a new mark number of the same watch eg explorer 2 they have not released anything totally new.
Tell me that Panerai watches have a demand... Can't. The prices are all LOW , lowest compared to retail than ever before. There was a time that Panerai models had waiting lists at ADs, now they can't find anyone to walk in the boutique. I talked about the new models if you watched the video...
Rolex spend millions a year on product placement and sponsorship, then to create demand they only allow x number of pieces to be available thus creating the ability to ask such a high price and the grey market. Panerai allow you to walk into a boutique and buy the piece you want without a waiting list. So if it is easy to get one there won’t be a high price for a used piece when you can get a new piece. It was the same with Tudor and the GMT you could not get one so the used price rose and the grey market price was 50% more than the new price. If you create the want and the demand you can charge what ever you like, that’s why you pay so much for your marketing team. If an AD can markup the price by 40% on a piece then the cost price is a lot less than the retail value, you are paying for the brand and the hype of wearing that brand.
I love my PAM 88. It’s a watch that I don’t think I’ll ever sell. I guess if you are a person who buys, sells and attempts to upgrade, Panerai might not be the watch for you. But if you want something unique for your collection it fits the bill.
All the big movie stars, Presidents, and others know about Panerai and buy them. Marketing of them by sellers is small and therefore, no one in the public is aware of them. I bought my brother, brother-in-law and myself (Lo Scienziata) $107,000usd for this Xmas. I have Rolex, Patek Phillip and Omegas in my collection. I like the Panerai as a special watch no one has yet except the very few greats.
New Website is Nice. Agreed on those points, I have owed 3 Panerai over the years. The current prices seems a little on high side now for what you are getting. 15-19k at MSRP for many offerings only to have it hit used market and take a 20-30% hit. At that price point give me used Rolex dive watches all day...... I do like the 960 and am trying to find it at (but not at MSRP).
Panerai was the Hublot or Richard Mille of the 90’s. They were very expensive for their time, priced higher than Rolex in the 90’s. They were popular with the wealthy and died down in the early 2000’s before many guys got into luxury watches. You hardly saw guys wear Panerai. I lived in Chicago in the 90’s I would see more wealthy people wear fashion watches like Movado or Rolex Submariners LOL Rarley Panerai. Especially in the nightclub scene. Panerai went through what Rolex is doing today. Limited production and the Pam bubble busted a long time ago. The only difference was watches were not as popular in the late 90’s early 2000’s. Talk about losing money! In 1996 if you knew or could find a PAM you could get one for $10k! That was 90’s money. Panerai ran into its first problem. More demand and a younger less wealthy customer base. The second problem was, no innovation they all looked the same. The third problem was other brands got popular, luxury brands started to market their products better than Panerai. Younger guys are starting to make more money who ran to other brands. You also had the start of watch forums, Then RU-vid and Hodinkee happened. To this day there are only 2 authorized Panerai dealers in Chicago.
I’ve been a Paneristi since 2000....Panerai basically fucked itself. Ridiculous amount of overpriced limited editions and an absurd secondary/vintage market so it was only inevitable that they would crash and burn. I dumped all but 1 vintage piece from my collection. FYI- the Sailing theme isn’t Panerai’s only fail...back in the day they did a whole line of Ferrari watches that were horrible.
For the 40k watch, the are selling with the watch, an adventure trip with the Italian military, flight tickets, hotels and the experience, and for the Luna rossa, its a GMT, first submersible with a gmt.
