The Breitling Watch Source Forums

I am not a great fan of Panerai but that is just a matter of personal taste.
There is however one thing that baffles me.
Panerai recent annual production figures are in the range of 70K watches.
Breitling annual production figures are somewhere in the range of 150-200K watches, depending on which source you look at.
Rolex, somewhere between 800K - 1M, again depending on who you talk to.

Why than when I look at the pre-owned watches market do I see so many Panerai watches for sale?
It all seems to be Panerai and Rolex (at least here in Asia) and at rather silly prices.
For every used Breitling that I come across, there must be at least 20 used Panerai watches for sale.
I can understand that being the case with Rolex given the huge production figures but Panerai?

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"It is just a matter of time!"

The Panerai look is beginning to grow on me. I think that is partly because I have seen so many for sale as well like you have mentioned.

They also seem to hold their 2nd hand value much better like Rolex. Good for people selling their Panerai's and Rolexes, but frustrating for cheap buyers like myself.

Personally I'm grateful for the lower resale value of Breitlings, letting people such as myself buy great watches without their wife having a fit!

Panerai collectors "upgrade" their collection over time. As you learn more about the brand, those minute differences becomes huge must-collect design points. Cost of Panerai is too high to justify keeping both (very) similar models. Too resale value is very reasonable for most Panerais. Hence, lotsa pre-owned Panerais for sale

Must say quite dissapointed with SIHH 2013 models though. Take the Pam 507 "new" bronzo for example. t's as if OP didn't dare to reissue another Pam 382 Bronzo (perhaps because Bonati has been widely quoted to have previously said he has NO intention to issue another bronze watch ), but they must after all since interest on the original was so overwhelming, so they needed a new design so at least it's not a blatant Armstrong, but they're concerned that if the new design deviates too far from the original, the new bronzo might not do so well which will then be a no-no double-whammy cause Bonati won't even be able to at least financially justify his lies, so they decided ti simply add a power reserve indicator on the face... Prominent PR front & (off) center on an automatic watch??? Really??

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a few Pams...

Those PR indicator on the front PAMs have always been the black sheep of the bunch in my eyes. The shape of the PR and the location are just baffling.

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-RJ

Panerai prices have held for a long time, but I'm wondering if I'm beginning to see some chinks in the armor. I am seeing a few more pieces (mostly hand-wind basic models like the 000) dip below the $4K level in asking prices, and I have had a lot of Panerais offered to me in trade. My watch guy says he hears the market is cooling on them. I liked the one I owned and wouldn't mind owning one again, but scaling down a bit as I am now, I have other priorities in the collection.

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Scott

AP Royal Oak 15400, silver
Zenith Chronomaster El Primero Classic Cars
Vintage gold Corum
Rolex DJ 36 TT, oyster dial, oyster/smooth
Baume & Mercier Riviera 200m, silver dial/aquamarine bezel
Breitling Superocean 57, rose/stainless

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"I don't got the bright watch I got the right watch" -Jay Z

I think H2F nailed it. With a range that shows minimal variety in looks and only small WIS differences between models, it would be hard to justify owning a few panerai. Hence why I think so many are for sale 2nd hand as collectors buy a new one and sell off their old watch.

'lings on the other hand have a much greater range, and so people would tend to hold onto them even when buying a new watch.

Now you see for me, the subtle and minimal changes that Panerai makes to it's models is actually one of the things that I love about them. They have a style and a look that works for them and their fans, and they work to preserve that look and also their demographic by carefully evolving designs. I actually like that approach far more than the "scatter-gun" approach to design adopted by a lot of other brands.

Personally if I had the cash, I'd happily have a number of Pannies, but my wallet won't stretch that far these days unfortunately!

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Driver8

Site Moderator

Driver, don't get me wrong, I've grown to love Panerai's faithfulness to their heritage (unlike modern Breitling it seems at times!) and love the small differences in OPs that set them apart.

But whereas I can see people owning lots of say Breitling's, I wouldn't think that most people would own more than 2-3 Panerai's. That said, doesn't stop some from buying every Navi or Top Time they see (don't worry Fred and Kurt, not going to name names here... Whoops!) and likewise the same with OP collectors.

But I do think that this is probably the answer to Wessa's question.

Unless anyone else has other suggestions?

There is always going to be demand for the base model Pams. I think the 512 introduced today is a winner and I like the new Rad cases. I don't get the new Bronze Pam, and I think the PR indicator looks horrible on the dial. My only problem with most of the new releases is that they're 47mm.

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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 don't know what it is about Panerai but I love them. They are very expensive for what you get, which has kept me from buying a base model. I for one hope the market is cooling off on them. If so a 111 would be in my immediate future!

Panerai is a strange brand. From the first time I saw and strapped on a 112, I couldn't stop thinking about them. I think their stylings are simplistic yet so original that they stand out as a class all their own. Yes they are over priced...kinda. They are priced that way ...well frankly because people will pay it! At least you get in house with the recent offerings.

I ended up with Sergio's PAM 312 and it's easily my favorite watch since arriving. I would like a submersible version next and really wanted the 382 Bronzo, but since the cheapest I found one for was $6000 over retail... that didn't happen. Still pissed about the Bronzo deal. I would actually worn the damn thing!

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Breitling Steelfish(black)
Breitling Steelfish(silver)
Panerai PAM 312
Bell & Ross BR03-92 Phantom
Steinhart BreitlingSource LE #5/15

All valid points there Doc.

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Driver8

Site Moderator

Not a fan of Panerai.
Used to be.
In the auto enthusiast meets I see them as much as the Rolex Sub.

I like to be different