Panerai: Nautical Tradition and the Spirit of Italy

A famed watchmaker, Giovanni Panerai, first opened up shop in 1860 in Florence, Italy. This shop served not only as a watch shop and workshop, but also as a school of horology, the very first to grace the city. The shop moved a few times, but six years later found its new permanent home, which still serves as a store for Panerai watches to this day! 

In 1916, to meet the demands of the Italian Royal Navy, Panerai collaborated with Lieutenant Commander Carlo Ronconi to create a new luminous powder using radium. Their goal was simple: make instrument dials easier to read in the dark. 

The initial compound was used for military instruments, and it wasn’t until 1935 that the first Radiomir wrist watch prototype was born.

In the 1940s, Panerai released the Ref. 3646, which is now recognized as the original Radiomir watch. Today’s Radiomir is very much an evolution of that same watch, with the same 47mm cushion-shaped steel case, luminescent numerals and markers, wire lugs, and a manual winding movement. 

As the needs of the Italian Royal Navy evolved, so too did the Radiomir, steadily refined through real-world use and shaped by the need for a robust timepiece that could withstand the harshest of environments.

The rest is history! 

Enter the Paneristi 

For most of the 20th century, Panerai was not a publicly facing company, but rather a military supplier making specialized naval equipment like compasses, depth gauges, and dive watches. That is, until they were acquired by Richemont Group in the 1990s. 

With the awesome financial backing of a luxury conglomerate, Panerai became a household name, in part also due to being worn by famous celebrities like Arnold Schwarzenegger and Sylvester Stallone.

It’s worth mentioning that the brand is so beloved by its enthusiasts that the name “Paneristi” is the official moniker of the community of Panerai watch collectors, with over 30,000 members and more than 30 local hubs around the globe. Panerai continues to capture the hearts and wrists of many collectors, especially in American, Italian, and Asian markets. 

Though the brand remains deeply tied to its Florentine roots and maritime heritage, today Panerai is at the forefront of cutting-edge Swiss horology and a staple in every discerning collector’s watch box.

That doesn’t mean that the brand didn’t have its share of growing pains, especially from the mid-2000s onward, though many of the let’s call them short-sighted decisions, seem to have been remedied. I’ll mention a few here, because why not? You deserve to get a full picture of the brand…

For over a decade, starting in the mid-2000s, Panerai had a tendency to do things that irked many loyalists and members of the watch community. They would release “limited edition” models that were neither limited nor unique. They very often had redundant designs, slight dial tweaks, colors, etc., and felt more like a marketing cash-grab than anything else. 

Additionally, some of the “movements” inside watches that were quite expensive left a lot to be desired. We are talking off-the-shelf ETA movements with scratched components and no finishing whatsoever. People were pissed. The brand suffered.

Luckily, Panerai reacted and responded. In the late 2010s, the company began scaling back the flood of limited editions and shifted its focus toward genuine innovation and in-house movement development. 

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The release of the P.9000 and subsequent calibers marked a turning point, showcasing real horological credibility with better finishing, reliability, and design integration. 

Panerai also leaned into bold material experimentation, like Carbotech, BMG-Tech, and Fibratech, reinvigorating its identity as a brand rooted in naval toughness and cutting-edge technology rather than just nostalgia.

Today, Panerai is a major player in the Swiss watch industry, with an estimated annual revenue of 750 million dollars. They’re not Rolex, but they are doing quite well for themselves. If you are interested in purchasing a Panerai, I’d definitely say go for it! Here’s a breakdown of their various collections:

Panerai Luminor

A sandwich dial, unique crown guard locking system, and 3-6-9-12 numerals scream Panerai. But most Panerai watches are unmistakably Panerai, and I think that is one of the greatest allures of the brand. 

The Luminor is their most iconic model. When I close my eyes and envision Panerai, I see the Luminor. Available in three case sizes, 40mm, 44mm, and 47mm, the Luminor is a robust watch with water resistance from 100m all the way up to 500m. 

Folks, these are timepieces that are built to last in the toughest of environments; they just so happen to look really good while doing so. Exclusively available with in-house manual winding or automatic movements (depending on the model), these watches boast over 3 days of power reserve, along with excellent accuracy and resistance to shocks and magnetism. 

The Luminor comes in various configurations: no date, small seconds, date, GMT, chronograph, and even Tourbillon offerings. As such, the MSRP varies wildly, $5,600 for a Base Logo, $8,800 for a Marina, and $234,200 for the Luminor Tourbillon Moon Phases Equation of Time GMT – L’Astronomo. Which will you choose?

Panerai Radiomir 

Originally released in the 1940s, the Radiomir is a no-brainer for those drawn to vintage-inspired timepieces. The wire lugs, naked crown, and available “tropic-style” faded dials really give the Radiomir a distinct look. You can choose bronze, stainless steel, goldtech, or platinum for the case, and the watch is available in a variety of sizes from 40mm all the way up to 49mm.

Models are powered by a range of in-house movements, including the hand-wound P.6000 or P.5000 and the automatic P.900 and P.4000 series. The P.5000 offers a whopping 8 days of power reserve, while the P.6000 offers a 3-day power reserve with a stop-second function; the P.900 is a slim automatic caliber that adds a date complication and small seconds. 

The P.4000 series, also automatic, is distinguished by its off-center micro-rotor and refined engineering. So let’s talk price, you can spring for a basic Radiomir Officine for $5400. You can go midrange and spring for the Radiomir Otto Giorni at $9700, or go high end with a gold Radiomir Annual Calendar, priced at $36,500. 

And, of course, Panerai also offers ultra-high-end haute horology pieces, like the Radiomir Minute Repeater Tourbillon GMT, priced at $399,000.

Panerai Submersible 

The Panerai Submersible collection is built for professional divers and those who need a watch capable of going deeper and further. These timepieces are known for their exceptional water resistance, ranging from 300 meters to models that can handle depths of up to 1000 meters or even 1,500 meters, making them some of the toughest dive watches on the market. 

Featuring robust materials like titanium, stainless steel, and Carbotech™, they are designed to endure high-pressure environments and dives. The Submersible is powered by a range of in-house automatic movements, including the P.900 with a 3-day power reserve, date function, and small seconds, and the P.9100, a chronograph movement with flyback functionality. 

Prices for these models begin at $9,500, with mid-range models like the Submersible Forze Speciali PAM02239 priced at $30,400. For haute horology enthusiasts, the Submersible Tourbillon GMT can cost as much as $169,200.

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Just look at them. Seriously, scroll through this blog or through Google images and you’ll see a watch brand unlike anything else on the market (imitators aside).

The iconic crown-locking mechanism, cushion-shaped cases, sandwich dials, and rugged yet beautiful aesthetic really sets them apart from the competition. And it’s pretty cool owning a luxury Swiss timepiece with such close connections to Italy. It’s like getting the best of both worlds. 

It reminds me of the time I was deciding on a ski resort to visit in the Alps. I decided on Zermatt because you could start the day in Switzerland and then ski or snowboard over to Italy for lunch. Panerai is like that. Swiss horology, Italian aesthetics, and no-nonsense engineering. It’s a win-win for all.

Should You Get a Panerai?

I generally tend to avoid purchasing a watch I haven’t first tried on my wrist. This is the case for any and all watches, but especially so for a watch with a unique aesthetic like Panerai. Luckily, the brand is well-established here in the states, and finding an authorized dealer shouldn’t be too much of a hassle. 

So yeah, definitely try a few on; see what size works with your wrist the best (for me it’s the 40mm Radiomir with the white dial). Once you’ve done so, you’ll know. The first time I tried on the right Panerai, I knew that I would one day own one. Now I just have to convince my wife to let me get another watch…any tips?

Closing Thoughts

I hope to one day join the ranks of Paneristi, celebrating a Maison with a rich naval and horological history that continues to innovate and create stunning timepieces in an increasingly competitive market. There’s something to be said for brands that create iconic designs, especially if their iconic designs have endured for nearly a century. 

If you are in the market for a pre-owned Panerai, Exquisite Timepieces has a really great selection with unbeatable prices. Feel free to explore our curated collection online or experience the exclusive range available at our boutique in Naples, Florida. Every order from our pre-owned Panerai collection includes complimentary delivery and comprehensive insurance, ensuring your luxury watch arrives securely.