5 Step Guide to Buying Pre owned Panerai Watches
Panerai watches tend to hold their value well, which means when you buy a perfect, fully tested, and warrantied pre-owned Panerai from Oakleigh Watches, you will be buying an appreciating asset. All you need to do is take care of it and enjoy it for a few years and it will literally repay you.
A good quality Full Set pre-owned Panerai watch can cost anything from £2,500 to tens of thousands.
Dating back to 1860, this luxury Italian brand has an interesting history. Between 1940 and 1985, Panerai watches often featured Rolex movements and were exclusively available under contract to the Italian Navy for use by its Submariners.
When that contract finished, Panerai disappeared until 1993 when they launched three watches based on the original military designs: the 44 mm Luminor and Luminor Marina watches and the 42 mm Mare Nostrum chronograph. These watches are extremely rare and highly collectible, mainly because the launch wasn’t particularly successful because of lack of funding.
In 1997, the Panerai company was sold to the Vendome Group (now the Richemont group) and the modern era of Panerai watches began. Mainly based around the original designs, now there are hundreds of different Panerai models available to suit differing tastes.
Below are 5 key things to consider when buying a pre-owned Panerai.
1. Investment, Pleasure or Both?
If you’re buying purely for investment, then you don’t need to worry about the style of watch. Rather, you need to focus on whether a model is desirable now and whether it is likely to be so for the foreseeable future. So, my three top tips …
• Always go for a watch with the widest appeal and the most limited supply.
• If it’s purely for investment purposes, buy the very best example you can find. After all you don’t have to worry about damaging it if it’s only going to sit in your safe.
• Make sure you buy a Full Set – box, papers, service records and accessories.
If buying for pleasure and or both pleasure and investment – keep reading.
2. Style
Panerai have two main style collections to choose from. The most popular and the ones that appear most in our collections tend to be Panerai Luminor. The second is the Radiomir.
The Panerai Radiomir is based around the original military design with a cushion case, wire lugs and exposed crown. With sizes ranging from 40mm to a substantial 47mm and a choice of automatic or manual wind movement. Traditionalists might prefer the larger case with a manual wind movement and only two hands. More modern styles are smaller and can have complications such as date, GMT or power reserve. Always on a leather strap, the Radiomir normally has a black dial.
The Panerai Luminor is also available from 40 to 47mm and with an automatic or manual movement. As with the Radiomir, the traditional models are larger and manual winding. More recently, the Luminor has been available with different style options, including bracelets, crocodile straps and coloured dials. A key feature of the Luminor is the patented crown guard design, some people consider this an essential part of Panerai design, whereas others think it’s too bulky and prefer the slimmer Radiomir.
Panerai are statement watches, to be worn proudly and boldly.
3. Size
Does matter when it comes to watches?
It all comes down to confidence and perspective.
As we’ve already mentioned, Panerai are not low key, however just because you’re small in stature, doesn’t necessarily mean you can’t carry off a larger timepiece. In fact, it’s very much the fashion for women to wear oversized men’s watches.
For a man, it’s all about confidence. If you feel comfortable going big then Panerai is the brand for you as they have some of the biggest cases in the luxury watch market. If you’re feeling bold – you might try your luck with a 47mm Panerai Submersible. The smallest range they have is their Luminor Due measuring 36mm. However, the Luminor’s iconic crown protector tends to make this model a statement time piece and not for the self-conscious.
4. Vintage or Modern
The choice between a vintage or modern watch is partly one of personal taste, partly one of robustness and when it comes to Panerai – one of budget!
Of the three periods of Panerai production, pre-Vendome era (1993-1997) cost around 3x the price of a similar modern model. Genuine vintage military Panerai’s run into tens of thousands of pounds and therefore are collection pieces rather than a daily wearer.
Pre- Vendome are still considered vintage and are more wearable. They represent good value for money and are guaranteed investment pieces for the future.
If you want to wear your Panerai every day, then you should probably go for a newer one as the movements from vintage models are more fragile and expensive to repair than later versions.
Servicing costs for a vintage watch can be higher and parts hard to come by – two important considerations when choosing between modern and vintage pre-owned Panerai watches.
5. Fashion or Function
What do you want your pre-owned Panerai for?
Assuming of course you’re not heading to the Mariana Trench, is it simply to tell the time or do you need it to dive in?
All Panerai’s have a sub maritime heritage and modern ones make great dive watches. Vintage watches however should stay on dry land.
If you’re not diving, the Panerai brand is a fashion statement and has quite a ‘manly’ celebrity following. Including Dwayne Johnson, Jason Statham and Sylvester Stallone. That’s not to say, it’s an exclusive all male club – Heidi Klum and Salma Hayek have been spotted sporting these larger time pieces. A great example of how to go large confidently.
If you’re simply looking for a fantastic watch made to the highest of standards, then you can have some fun choosing.