The Breitling Watch Source Forums

I've noticed that many watches of quality, Breitling, Omega etc..come down on asking prices pretty siginificantly when buying them second hand, but it always seems that the Panerai's stay pretty darn expensive. Just wondering your thoughts on this?

_________________
Cheers,
Christopher

Currently...
Blackbird, Black Hercules, PAM 000
Down to a humble three...

That's probably because Panerai doesn't make a large quantity of watches per year.

That's right. Pretty much everything Panerai make is limited edition to a certain extent. For example, each year they make a run of each model and call it a letter. For example the "K" series, or the "L" series. Then they tend to only make a certain number like 1000 or 2000 within that series for a given model. It's not strictly a limited edition as the following year they usually just make more of the same watch albeit with a different series letter, but even so the numbers produced are not very large at all. That and the cult following that Panerai has all helps to ensure sky-high prices. Oh and the fact that the Manifattura pieces in particular are very VERY good pieces probably doesn't hurt prices either!

_________________
Driver8

Site Moderator

Manifattura ????? What is that??? Sorry if this is a dumb question. I have freely volunteered that I have no knowledge and little feeling for Panerai.

_________________
Chronomat, Steel/Gold, MOP Dial, 2-tone band (2008)
Super Avenger Black Baton Dial (2009)
Bentley B04 GMT Silver Dial (2013)
Avenger Blacksteel Baton Dial (2014)

Manifattura is Panerai's in house movement line of watches - power reserves up to 10 days, fly back chronos, GMTs, etc

Nothing much to add, Driver said it all. Low production numbers and high demand mean they are almost never in stock, there is always a waiting list involved, which is why dealers simply do not give discounts, heck they would jack prices up if they could (manufacturers do not allow this)

Some models , like 249, sell for double their retail as the production was so small and the demand is so very high.

There are certine models that suffer the same market effects as others. Such all FER models, the 40MM models, and, get this, the highly copied ones.

For instance, there is a VERY cool PAM which is not to be found in the website, but is copied frequentely. In fact there is a near 1:1 copy of it for sale at around 900USD. The only differences are the AR, movement quality, and finish quality. For some reason people do not want a watch that is so highly copied, couple that with the sheep effect, in that some people just decided they did not like it and everyone agreed, and you have a VERY underpriced secondary market PAM. More on this model later.

_________________
Certified watch nut.

Thanks Roff the Prof!!!

_________________
Chronomat, Steel/Gold, MOP Dial, 2-tone band (2008)
Super Avenger Black Baton Dial (2009)
Bentley B04 GMT Silver Dial (2013)
Avenger Blacksteel Baton Dial (2014)

I love the crown guard protector of the Luminors. I love the simplicity of the 112, the 111 comes a close second. If the 000 had a display back, I'd get that one for sure. The cyclops style doesn't do it for me. Sausage no, sandwich yes. The 213 is certainly cool, but $13k is a bit much

So if I preferred a display back, crown protector, sandwich dial and no cyclops what other options would I have that wouldn't cost me an arm and a leg... and more importantly does anyone have an AD that will give me a good discount?

_________________

Govberg isn't a Panerai AD but they work with a Panerai AD all the time. I asked George about discounts on those and he said the very best would be 10% off he thought.

_________________
Justin
Please contact me via PM for the contact details for Govberg Jewelers
Govberg is an AD for over 50 fine Swiss and German watch brands.
Visit them on the web at http://www.govbergwatches.com or call 800-528-8463

I see them selling for good prices, but I really wonder how long the effect can last. After a few years, one would assume that the market would become more saturated, and the whole "limited" aspect may well become a moot point. Coupled with the fact that they really all do look pretty much the same, seems like prices are bound to fall. Just my opinion, of course, even though Rolex has managed to defy this logic for so long. They also seem to be very over priced to me.

The in-house pieces are very cool though. Very expensive too...

_________________
-RJ

Personally I don't think prices of second hand Panerais will fall. When all said and done, even if the limited edition numbers are fairly high, they are still limited edition. Compare that to most watches that aren't limited in their production runs in the slightest. Even Rolex, while artificially limiting the number of watches on the market, don't tend to create many numbered limited editions. Panerai has such a cult following, I think the pieces will always be in demand. Just my personal opinion of course.

_________________
Driver8

Site Moderator

Thanks for trying

_________________

Also consider dealers, they have 460 ad's worldwide...this means that their big run models (2000) will be , on avarage only 3-4 pieces per dealer. Here in scotland there are only 2 AD's for the whole country...that means V few watches.

My AD didn't get a 219 (base, steel,sandwich,destro) last year and is getting ONE from this years production of only 400 watches.....But its got my deposit on it

any NEW pieces that get onto the non AD market usually make more than their retail (unless its the daft gold ones or ferrari models)

_________________
John

Current:- Navi World, Coral SO, Panerai 219, Sea Dweller, Suunto Core etc

CORAL CLUB FOUNDING FATHER

Yep, Panerais and gold are probably the only true international curency. Rolex is a distant second.

The PAM 249 sells for double its original price now. The Destro and PVD models are very popular as well.

In my countrey there are only two ADs, but they are both Panerai Dealer Elites (only sell Panerai, have dedicated knowledgible staff, and have a large showroom in a top location) yet you can only find, at best, 20 watches at one time in their store. And none of them are the really popular models, in fact I was told by the manager that 95% of the watches are sold and paid for before they get them in

It took me over a years wait to get my 233, and the 210, 111, and 88 where a very long wait as well.

_________________
Certified watch nut.

So with all of the above in mind, what would be a good.. "entry level"(for lack of a better term ) pam?

_________________
Men are from Mars, women are from Hell.