Panerai In-House Movements - A PAM of Worms

[sokoloka]

Title credit goes to Perezscope. Some interesting Sunday morning reading:

https://perezcope.com/2021/08/08/pan...-pam-of-worms/

The usual games continue ...

[dandigangi]

That was a rough read but as commonplace as it gets. Makes me think of the same stuff you see with how many companies using engines or majors components from other name brand manufacturers.

I feel like I'm missing something with the "Panerai as a brand started in 1997". Can't seem to find any information on that. Everything points back to the 1800s even if they did use Rolex once upon a time. Anyone know more on that?

[bonovox]

Originally Posted by dandigangi

That was a rough read but as commonplace as it gets. Makes me think of the same stuff you see with how many companies using engines or majors components from other name brand manufacturers.

I feel like I'm missing something with the "Panerai as a brand started in 1997". Can't seem to find any information on that. Everything points back to the 1800s even if they did use Rolex once upon a time. Anyone know more on that?

I think his point is Richemont acquired Panerai in 1997. Think what you want about this dudes writing, what he uncovers here looks pretty bad.

[enjoythemusic]

I look forward to Panerai's reply sent to popular timepiece publications.

[Mystro]

Originally Posted by sokoloka

Title credit goes to Perezscope. Some interesting Sunday morning reading:

https://perezcope.com/2021/08/08/pan...-pam-of-worms/

The usual games continue ...

I agree. This guy won’t give up.

This is conspiracy theory bunk by one person to launch a social media campaign disguised as a legitimate source to go after Panerai in every way possible. Every story is Panerai did this, Panerai did that. It’s maddening the amount of time this guy spent to push his theories.

I am positive it is the same guy that made it his mission to piss all over Panerai on this forum before he got bounced for doing it. This thread will get closed for promoting his site. It’s tinfoil hat fodder.

[Mystro]

Double

[RHJ]

He makes strong points here, up to Panerai to respond

[Mystro]

Originally Posted by RHJ

He makes strong points here, up to Panerai to respond

I believe he challenged Panerai on different occasions to the point of a confrontation and they through him out. This is what is fueling his vendetta. Short of legal action by Panerai would be the only time they will address this guy.

[bonovox]

Originally Posted by Mystro

I believe he challenged Panerai on different occasions to the point of a confrontation and they through him out. This is what is fueling his vendetta. Short of legal action by Panerai would be the only time they will address this guy.

Respectfully, what do you dispute in this specific article as false? If some of the larger watch blogs corrected their "in-house" labeling on that particular movement after his findings came to light, aren't they conceding to some extent, he is correct?

[Mystro]

Originally Posted by bonovox

Respectfully, what do you dispute in this specific article as false? If some of the larger watch blogs corrected their "in-house" labeling on that particular movement after his findings came to light, aren't they conceding to some extent, he is correct?

I won’t get into his past writings but from all I have read it was enough to dismiss him as not being credible or even remotely a impartial source. His motives and let’s say “questionable” sources tend to be pieced together to what ever to fit his narrative or “theories”. That’s all I will say about the subject of his web site. I am sure Panerai is no saint as is with most companies marketing but this dude is working overtime against anything and everything Panerai he can twist out of focus to come up with a different image of the Panerai devil. Look at his entire body of work and see if you can find a theme. I personally have seen enough red flags from his many other stories of to not follow him down that rabbit hole. Nuff said.

[bonovox]

Originally Posted by Mystro

I won’t get into his past writings but from all I have read it was enough to dismiss him as not being credible or even remotely a impartial source. His motives and let’s say “questionable” sources tend to be pieced together to what ever to fit his narrative or “theories”. That’s all I will say about the subject of his web site. I am sure Panerai is no saint as is with most companies marketing but this dude is working overtime against anything and everything Panerai he can twist out of focus to come up with a different image of the Panerai devil. Look at his entire body of work and see if you can find a theme. I personally have seen enough red flags from his many other stories of to not follow him down that rabbit hole. Nuff said.

Fair enough. I'd encourage you to read the article in question.

[kunlun]

Originally Posted by Mystro

I believe he challenged Panerai on different occasions to the point of a confrontation and they through him out. This is what is fueling his vendetta. Short of legal action by Panerai would be the only time they will address this guy.

I need to be honest with you, the article makes real, compelling points and I don't think it can be brushed off.

[enjoythemusic]

As a member of the press myself (luxury audio... mainly), I believe we can all agree a bit of transparency about movement details from Panerai would be welcome. This is why Panerai needs to give details to publications, and/ or journalists need to do their job.

One valid point he makes within his article is that members of the press have not done a reasonable job at providing movement details either. Usually these details can get quite, well, detailed because the manufacturer is extremely proud of their in-house design and production / watchmaker facility. So the press must do a better job at getting data from Panerai (or state that Panerai refuses to provide any details on their movements).

[Patton250]

A brutal article. Panerai does seem to be going backwards. I’m personally disappointed in the brand.

[enjoythemusic]

I do like the IWC version's finishing. I guess IWC is a higher end brand than Panerai in the eye of the parent company

210801-comp-baumatic-vs-iwc32110-vs-p900.jpg

[Watch Expert]

IWC a nice watch, but there are so many watches similar to IWC design such as Oris, Seiko, Hamilton , Citizen and also quartz watches that you often seen in supermarket looks similar to IWC. Panerai design is very different from the rest of the watches.

[brandrea]

Originally Posted by Watch Expert

IWC a nice watch, but there are so many watches similar to IWC design such as Oris, Seiko, Hamilton , Citizen and also quartz watches that you often seen in supermarket looks similar to IWC. Panerai design is very different from the rest of the watches.

Couldn’t agree more. The design cues of Panerai are recognizable from across a room, not so much with most other brands.

[enjoythemusic]

Originally Posted by brandrea

Couldn’t agree more. The design cues of Panerai are recognizable from across a room, not so much with most other brands.

Agreed, Richemont's Panerai brand is a fashion some are familiar with. It doesn't matter the movement or quality of implementation as it's all style. A reliable ETA as Panerai uses, or Sellita movement like Richemont's IWC brand uses, is reliable and can be accurate with proper regulation.

I think Richemont is leaving millions of Euros in profit on-the-table as they can use Panerari's typical basic movements in normal production, yet if they invest $250 more for a far higher decorated movement from ETA or Sellita wholesale, they could charge $2000 more for a 'Limited Edition' version with display back.

It's time Panerari raises prices as high as possible for their basic movement fashion watches. Limited editions can bring even higher profits so Richemont is able to buy Swtach Group at some point. This way all ETA movements can be called in-house. That sounds like a solid business plan

[htc8p]

This is bad pr for panerai. But they have already been in a bad position for years leading them to release “cheaper and cheaper” watches


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[hedet]

Great article. Thanks for sharing.


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[Fleetlord]

While I agree Panerai is a big mess at the moment, this guys expose would be like someone going through a bunch of investigation and tests to determine that fruit punch truly does not have any actual fruit juice in it…not even the listed 3%…it’s not really that big of a surprise…

Brands have been doing these shenanigans involving in house movements for a long time now…

[Starwalker]

okay but who cares. Anyone dropping 27K on a gold panerai probably doesn't care either, because if they did, they wouldn't be spending 27k on a panerai LOLLLLLLL!!!!

[Rashid.bk]

Originally Posted by Starwalker

okay but who cares. Anyone dropping 27K on a gold panerai probably doesn't care either, because if they did, they wouldn't be spending 27k on a panerai LOLLLLLLL!!!!

You’re absolutely right, no one really cares. I just think while most probably don’t care and because this will be the true outcome, media sources should at least report the facts and do research so they can really inform the public. But alas, I fear even that is futile, that info sounds boring and won’t generate views and traffic that they want.

Regurgitating puffed up press materials “first” and dropping the new new is much more lucrative then on to the next new new. Hypothetically, how many would actually change their purchase decision if they discovered the new Rolex 3235 is really just a 3135 with just another barrel added for extra power reserve.
Some would rumble a little but when they get the AD text they’ll hurry to drop their money. Good friend just bought his first Rolex(126622) and asked him if it was the new movement version, he laughed and said who cares, I don’t even know…..then we spoke briefly about it. He’s so happy to have his watch finally and from an AD.

[ganiccus]

Originally Posted by Starwalker

okay but who cares. Anyone dropping 27K on a gold panerai probably doesn't care either, because if they did, they wouldn't be spending 27k on a panerai LOLLLLLLL!!!!

You are right, the guy dropping that kind of money for a gold Panerai probably doesn't care too much about the movement or the dubious history of the brand. However, the guy on a limited budget looking to get the best value for his hard earned money will most likely turn his back and look somewhere else, or at the very least will not be willing to pay the retail price for a product that is not as valuable (horology wise) as advertised.

Panerai really needs to clean up their act when it comes to movement designation, 'in-house' doesn't mean you can go to another brand in the Richemont group to get your movement and make it your own as far as I'm concerned. I don't really mind the bit where they outsource their parts to a third party, just don't make it look like everything is manufactured in your heardquarters like in the WatchAdviser video. Almost all watch brands are guilty of doing that to some extent, even Rolex outsource their hands and their stainless steel case and bracelets outside the company despite claiming that they have their own foundry.

[Starwalker]

Originally Posted by ganiccus

You are right, the guy dropping that kind of money for a gold Panerai probably doesn't care too much about the movement or the dubious history of the brand. However, the guy on a limited budget looking to get the best value for his hard earned money will most likely turn his back and look somewhere else, or at the very least will not be willing to pay the retail price for a product that is not as valuable (horology wise) as advertised.

Panerai really needs to clean up their act when it comes to movement designation, 'in-house' doesn't mean you can go to another brand in the Richemont group to get your movement and make it your own as far as I'm concerned. I don't really mind the bit where they outsource their parts to a third party, just don't make it look like everything is manufactured in your heardquarters like in the WatchAdviser video. Almost all watch brands are guilty of doing that to some extent, even Rolex outsource their hands and their stainless steel case and bracelets outside the company despite claiming that they have their own foundry.

The misrepresentation is a big issue. It is unethical and I am glad that they got called out for it. But it also goes to show what a sham the entire industry is when the journalists dont even have the balls/integrity to call them out on it, they're all sycophants. My Clymer afraid that they will yank his AD status? No more collabs with "rake" or "revolution" for Wei Koh?.

[enjoythemusic]

Originally Posted by htc8p

This is bad pr for panerai. But they have already been in a bad position for years leading them to release “cheaper and cheaper” watches.

Raising prices while lowering the value of the internal movement is an interesting business practice and quite profitable for Richemont. We all know Panerai has been doing this for some time.

We have to remember Panerai is a FASHION BRAND nowadays in the eyes of many, and some just don't care either way. In fact it could be a $300 Sellita movement inside for all they care. i was that way with the TRON as knew the movement was low-end without any explanation what-so-ever from Panerai about eliminating the stop-seconds feature in their still unannounced 9010 'Evolution' movement that reduces features and is said to have lower-quality movement finishing.

Panerai was also asked by a leading watch journalist friend of mine about the 9010 'Evolution' movement, Paneri chooses not to disclose movement details on the '9010 'Evolution', which does not even say 9010 Evolution on their website(!) as the company makes zero differential between 9010 movements. This could have legal problems in the future. Some might say this is a very deceptive business practice, and curious if this will legally bite them in various countries in the coming years.

Originally Posted by Fleetlord

While I agree Panerai is a big mess at the moment, this guys expose would be like someone going through a bunch of investigation and tests to determine that fruit punch truly does not have any actual fruit juice in it…not even the listed 3%…it’s not really that big of a surprise…

Is there some legal recourse in Switzerland, or an organization to contact to alert them of Richemont's Panerai brand lowering the reputation of Swiss watch brands via questionable business practices?

Originally Posted by Starwalker

okay but who cares. Anyone dropping 27K on a gold panerai probably doesn't care either, because if they did, they wouldn't be spending 27k on a panerai LOLLLLLLL!!!!

Exactly! Panerai is now a FASHION BRAND in the eyes of many.

Originally Posted by Cru Jones

Richemont has some serious managerial issues. I remember when Bremont got caught up in fake in-house claims and how it was such a “scandal”. To this day I don’t bother myself reading new watch articles on Bremont. Strange to see Richemont brands getting such a pass.

i have a feeling Richemont knows what's going on, as it has been going on for long enough for them to stop it, IF THEY CHOOSE TO. Obviously we've not heard any word back from Richemont about this new scandal (and the 9010 'Evolution' scandal).

Originally Posted by Starwalker

The misrepresentation is a big issue. It is unethical and I am glad that they got called out for it.

Agreed that Panerai MAY choose to do something, yet their FASHION TIMEPIECES are right now selling so where's their 'insentive' to do anything but continue to devalue their products in the eyes of many while raising prices of their cosumer products.


-------------------

It really is simple, Panerai should do better at disclosing the movements within their products. Even if Richemont's Panerai brand starts migrating to Stellita movements like Bell&Ross... which seems to be the course Richemont's Paneri brand is on at the moment.

Odds are nothing will change unless they are forced to do so (legally or a very strong hit on their 'reputation' that reduces sales to the point of 'pain'). Am not sure if any Swiss authority will do anything unless it becomes a legal matter.

The great news is we have the Internet as we all spread the word about Panerai's refusal to disclose movement details about their products.

We can all also participate in various online forums and social media by posting a link to the OP's article, or at a minimum alert online boards about this situation so those considering Panerai as a brand can be better informed of what they are actually purchasing since Richemonth refuses to have Panerai do anything about their ongoing movement scandals.


-------------

This is all extremely easy for Paneri to 'fix' if they provide honest details to heir customers and journalists the truth about movement details in full.


It seems Panerai is extremey ashamed of their movements nowadays. How else would you explain this situation?

A sad state for Panerai (or any company to be sure), yet when I look at Longine, Tudor, or quite a few other ~$5k timepiece's movements it is painfully obviously Panerai is following down the road of Bell&Ross imho, yet at Panerai's 3x the pricing imho.

Perhaps it is time we start migrating to Bell&Ross? Fantastic timepieces with basically the same visual styling, yet with 'honest' movements and priced reasonably.

BR_0392.jpg

[epc2]

I Agree with you and I'm very disappointed that they have not released any info on why they changed the 9010 , I really like a few models that have that mvmt , (1351,1312,1313) , recently I decided to visit a few Panerai boutiques and have heard multiple stories most of them w/o any logic , I think some of them don't even know what they have, of course I acted like I know nothing about Panerai and on one of the boutiques I asked why the 1312 doesn't have the open caseback anymore and their Manager response was , " We decided to make it with a close caseback so when we sell to big corporations they can engrave the watches for their clients and employees" I was like Whaaatt!!!

At another store they told me , you know real dive watches have closed casebacks and when I asked about the seconds hand non hacking they were surprised, at the right price I might still buy one but there's a big price difference between the old ETA pams and the P mvmt models.

Originally Posted by enjoythemusic

Raising prices while lowering the value of the internal movement is an interesting business practice and quite profitable for Richemont. We all know Panerai has been doing this for some time.

We have to remember Panerai is a FASHION BRAND nowadays in the eyes of many, and some just don't care either way. In fact it could be a $300 Sellita movement inside for all they care. i was that way with the TRON as knew the movement was low-end without any explanation what-so-ever from Panerai about eliminating the stop-seconds feature in their still unannounced 9010 'Evolution' movement that reduces features and is said to have lower-quality movement finishing.

Panerai was also asked by a leading watch journalist friend of mine about the 9010 'Evolution' movement, Paneri chooses not to disclose movement details on the '9010 'Evolution', which does not even say 9010 Evolution on their website(!) as the company makes zero differential between 9010 movements. This could have legal problems in the future. Some might say this is a very deceptive business practice, and curious if this will legally bite them in various countries in the coming years.




Is there some legal recourse in Switzerland, or an organization to contact to alert them of Richemont's Panerai brand lowering the reputation of Swiss watch brands via questionable business practices?




Exactly! Panerai is now a FASHION BRAND in the eyes of many.




i have a feeling Richemont knows what's going on, as it has been going on for long enough for them to stop it, IF THEY CHOOSE TO. Obviously we've not heard any word back from Richemont about this new scandal (and the 9010 'Evolution' scandal).




Agreed that Panerai MAY choose to do something, yet their FASHION TIMEPIECES are right now selling so where's their 'insentive' to do anything but continue to devalue their products in the eyes of many while raising prices of their cosumer products.


-------------------

It really is simple, Panerai should do better at disclosing the movements within their products. Even if Richemont's Panerai brand starts migrating to Stellita movements like Bell&Ross... which seems to be the course Richemont's Paneri brand is on at the moment.

Odds are nothing will change unless they are forced to do so (legally or a very strong hit on their 'reputation' that reduces sales to the point of 'pain'). Am not sure if any Swiss authority will do anything unless it becomes a legal matter.

The great news is we have the Internet as we all spread the word about Panerai's refusal to disclose movement details about their products.

We can all also participate in various online forums and social media by posting a link to the OP's article, or at a minimum alert online boards about this situation so those considering Panerai as a brand can be better informed of what they are actually purchasing since Richemonth refuses to have Panerai do anything about their ongoing movement scandals.


-------------

This is all extremely easy for Paneri to 'fix' if they provide honest details to heir customers and journalists the truth about movement details in full.


It seems Panerai is extremey ashamed of their movements nowadays. How else would you explain this situation?

A sad state for Panerai (or any company to be sure), yet when I look at Longine, Tudor, or quite a few other ~$5k timepiece's movements it is painfully obviously Panerai is following down the road of Bell&Ross imho, yet at Panerai's 3x the pricing imho.

Perhaps it is time we start migrating to Bell&Ross? Fantastic timepieces with basically the same visual styling, yet with 'honest' movements and priced reasonably.

Attachment 1237524

[zion_rasta]

Originally Posted by enjoythemusic

Raising prices while lowering the value of the internal movement is an interesting business practice and quite profitable for Richemont. We all know Panerai has been doing this for some time.

We have to remember Panerai is a FASHION BRAND nowadays in the eyes of many, and some just don't care either way. In fact it could be a $300 Sellita movement inside for all they care. i was that way with the TRON as knew the movement was low-end without any explanation what-so-ever from Panerai about eliminating the stop-seconds feature in their still unannounced 9010 'Evolution' movement that reduces features and is said to have lower-quality movement finishing.

Panerai was also asked by a leading watch journalist friend of mine about the 9010 'Evolution' movement, Paneri chooses not to disclose movement details on the '9010 'Evolution', which does not even say 9010 Evolution on their website(!) as the company makes zero differential between 9010 movements. This could have legal problems in the future. Some might say this is a very deceptive business practice, and curious if this will legally bite them in various countries in the coming years.




Is there some legal recourse in Switzerland, or an organization to contact to alert them of Richemont's Panerai brand lowering the reputation of Swiss watch brands via questionable business practices?




Exactly! Panerai is now a FASHION BRAND in the eyes of many.




i have a feeling Richemont knows what's going on, as it has been going on for long enough for them to stop it, IF THEY CHOOSE TO. Obviously we've not heard any word back from Richemont about this new scandal (and the 9010 'Evolution' scandal).




Agreed that Panerai MAY choose to do something, yet their FASHION TIMEPIECES are right now selling so where's their 'insentive' to do anything but continue to devalue their products in the eyes of many while raising prices of their cosumer products.


-------------------

It really is simple, Panerai should do better at disclosing the movements within their products. Even if Richemont's Panerai brand starts migrating to Stellita movements like Bell&Ross... which seems to be the course Richemont's Paneri brand is on at the moment.

Odds are nothing will change unless they are forced to do so (legally or a very strong hit on their 'reputation' that reduces sales to the point of 'pain'). Am not sure if any Swiss authority will do anything unless it becomes a legal matter.

The great news is we have the Internet as we all spread the word about Panerai's refusal to disclose movement details about their products.

We can all also participate in various online forums and social media by posting a link to the OP's article, or at a minimum alert online boards about this situation so those considering Panerai as a brand can be better informed of what they are actually purchasing since Richemonth refuses to have Panerai do anything about their ongoing movement scandals.


-------------

This is all extremely easy for Paneri to 'fix' if they provide honest details to heir customers and journalists the truth about movement details in full.


It seems Panerai is extremey ashamed of their movements nowadays. How else would you explain this situation?

A sad state for Panerai (or any company to be sure), yet when I look at Longine, Tudor, or quite a few other ~$5k timepiece's movements it is painfully obviously Panerai is following down the road of Bell&Ross imho, yet at Panerai's 3x the pricing imho.

Perhaps it is time we start migrating to Bell&Ross? Fantastic timepieces with basically the same visual styling, yet with 'honest' movements and priced reasonably.

Attachment 1237524

Panerai is not a fashion brand, not even close. And that Perez idiot keeps bashing panerai to call attention to his vintage Rolex business. I hope Richmond sinks this guy for good.

[brandrea]

Originally Posted by ganiccus

… even Rolex outsource their hands and their stainless steel case and bracelets outside the company despite claiming that they have their own foundry.

I didn’t Rolex doesn’t manufacture their own cases and bracelets in house.

Am I misunderstanding what you said here?

[Rashid.bk]

Originally Posted by WatchEater666

I don't have an issue with outsourced movements, but I don't get why they are being misleading about it.

I think this is the real issue, by no means do I think Panerai is a trash brand. I recently bought a 1305 and I'm absolutely smitten by it. It runs fast but consistently so and I prefer a fast watch versus a slow watch, which has been a huge pita with my recent Rolex purchases and their true in-house 3235.

I think Mystro addressed Panerai quality which isn't really what the issue is centered on. The article in question really focuses on movements, specifically their identity and the misrepresentation of these movements and their origins.
Panerai is releasing new watches and hailing them as revolutionary with in-house movements and at very premium price points.
I think it's big news that there is a base ETA movement in a watch at this price point and how it's marketed. I don't expect Panerai to say, here's a new watch with a base ETA and we're charging you $40k for it, but they can structure their wording, description and marketing a bit more transparent and let buyers decide. I suppose we're asking for too much thinking a lux brand will be honest.

I don't disagree with your points Mystro, but I don't think you addressed the blatant misrepresentation Panerai is doing.

Originally Posted by brandrea

I didn’t Rolex doesn’t manufacture their own cases and bracelets in house.

Am I misunderstanding what you said here?

I'm not sure what he's on about either. Rolex outsources a few things but it's things like some dials, hands and hour markers, gaskets, spring bars, crystals, some movement screws and crowns. The big ticket items, for example the movements, cases, bracelets or clasps are in-house.