Panerai popularity winding down?

[psv]

We've all seen/been amazed by the meteoric rise of the Panerai brand/popularity/2nd hand pricing over the last decade or so but it seems to be that this demand is softening quite a bit. I see lots of Panerais for sale, it appears to be that they no longer collect the prices they did (while actually collectible Rolex prices are still rising). I actually suspect that the Panerai hype is coming to and end, sure, they will still have a strong following and a viable future but definitely not a cult anymore.

Anyone else noticed this or is it just my imagination?

Cheers,

Patrick

[mhmfao]

Interesting question. I hope you're right because I was thinking of buying one of the PAM GMTs if the prices for LNIB softened a bit. The PAMs are still highly sought after in the Tokyo grey market stores. Not sure about the pricing trends though. Prices are probably still healthy though since demand loooks to be as high as ever. I'll look into it over the next few weeks and report back.

V/R,
Michael

[DerekS]

hopefully. They need to be brought back down to earth. ;) Pricing for the ETA powered historic line is absolutely INSANE.

[psv]

Maybe it is just me, I used to own a PAM 243 as well as a 318 "Brooklyn", but they didn't speak to me or feel right so I eventually let them go.

Oh well, at least I felt I could post the question over here - I can't same the same thing for that panerist... forum ;-)

[TattooedGQ]

I hope you're right, I just want a simple entry level PAM...with a sandwich dial....just don't want to shell out the cash for one.

[mfer]

I think the ENTIRE watch market has softened.

Have you seen the prices of Vintage Rolex?
Have you ever thought you'd get 15% off a new SS Rolex from an AD?

This is just a correction of the entire watch market and not just Panerai IMHO.

[psv]

Originally Posted by mfer

I think the ENTIRE watch market has softened.

Have you seen the prices of Vintage Rolex?
Have you ever thought you'd get 15% off a new SS Rolex from an AD?

This is just a correction of the entire watch market and not just Panerai IMHO.

I agree, the market has definitely soften because of the global downturn but somehow prices on the base Panerai held up quite well. Until recently...

Then again, I've never paid list price for a SS Rolex. Actually, wait, one time but it was when I picked up a Sea-Dweller a few years back and brought to a friend in Europe. It was the only SD in the DC Metro area at the time and my friend was enjoying the strong Euro so he didn't care!

[sakuraba]

Originally Posted by mfer

I think the ENTIRE watch market has softened.

+1

I don't think the soft market is limited to PAMs. Now may be the time to grab the watch you want.

[B. Doggy]

I doubt it....

[mike]

I'm with Bryan. Certainly the global situtation is something we have to consider (with all brands), but given Panerai has moved to more in house movements I wonder if we're seeing a trend to move with them.

I've moved a couple pieces lately in anticipation of adding an in house movement to the fold.

Interestingly (and absolutely for what it's worth) I was told by a Panerai rep. Panerai wants to move more upscale with perhaps less raw numbers of units made per year.

Time will tell, but Panerai seems to have a well established niche.

[morgman]

I think it's all relative. I really doubt the popularity is going down for the brand. All brands temporarily, maybe yes.

Also, there are so many different models that people can almost have a revolving door of watch flipping going on. I'm actually pondering selling an existing PAM I have in order to get a different PAM.

[Speed]

Well, I bought my PAM 111 because I liked the watch. I have seen only two people with PAMs (other than myself) in the flesh. I got a great deal from a great WIS on this forum...and that's all that's important to me. I am not going to worry about the watch value now...too busy wearing it and loving it!!

If I wanted a popular watch, I would have bought a Tag.

[htc8p]

panerai losing steam. people have no money to spend. the economy is in ruins.

but im keeping my 112.

[mfer]

Originally Posted by mike

I've moved a couple pieces lately in anticipation of adding an in house movement to the fold.

*sniff**sniff*. Is that a 233 I smell?

[Panaboy]

I buy watches as a hobby and do not keep track of resale value.
If you are interested in an investment point of view. Nasdaq is a better idea.

[Joey_V]

I dont think it's losing steam. The whole market is soft. Look at SS Daytonas...

[inspires]

Originally Posted by mike

I'm with Bryan. Certainly the global situtation is something we have to consider (with all brands), but given Panerai has moved to more in house movements I wonder if we're seeing a trend to move with them.

I've moved a couple pieces lately in anticipation of adding an in house movement to the fold.

Interestingly (and absolutely for what it's worth) I was told by a Panerai rep. Panerai wants to move more upscale with perhaps less raw numbers of units made per year.

Time will tell, but Panerai seems to have a well established niche.

Mr. Theken has a nice 270 up for sale

[htc8p]

but will it last as long as rolex without never ending marketing? that im not sure

[Psmith]

Originally Posted by mfer

*sniff**sniff*. Is that a 233 I smell?

I'm guessing a 320



Cheers

[Cru Jones]

It's questions like these that give me pause....

I'm about 95% certain that the PAM I would pick up is the 111....Love it. But, it's a serious amount of money for someone like me. Now, if I were to buy another Rolex, I'd be pretty sure that in 10-20 years, I could sell it for cash money if I needed to....But, a Panerai? I mean, where was the brand 10-15 years ago? Something that goes so quickly into fashion can just as quickly fall out of fashion, no?

The flip side is that the watch is very well made, and it's GORGEOUS, so that should be enough....

Sorry, just sharing my thoughts as I type them. Don't want to be a "Debbie downer" about Panerai....I really like them!

[Psmith]

To add to the flip side, check out the prices that vintage/discontinued/pre-A models sell for, even in this down market.

Imho Panerai are wise to keep production numbers relatively low - a drop in the proverbial compared to Rolex. As Mike mentioned previously, there is talk of overall production numbers being limited further.

I noticed recently that only 500 111 Ls are to be built (compared to 3,000 Ks)



Cheers

[dalip]

nothing but PAM love happening in my garden!
I agree with the statements suggesting that the entire watch market has softened..


Having said that we now have a PAM AD in WA..and we didn't a year ago...so that suggests there's no softening in these parts

[lazarini]

i had 005,312 (3 pieces don't ask why) 210,232, 243, 000 ....

Sold them all...

L

[Psmith]

Originally Posted by lazarini

i had 005,312 (3 pieces don't ask why) 210,232, 243, 000 ....

Sold them all...

L

Begs the question... why?



Cheers

[Speed]

I beg to differ re softening of the market. Seems to me that overall prices are rising-ESP on Pepsis and Cokes and Subs.

[Watchman1957]

Originally Posted by Psmith

To add to the flip side, check out the prices that vintage/discontinued/pre-A models sell for, even in this down market.

Imho Panerai are wise to keep production numbers relatively low - a drop in the proverbial compared to Rolex. As Mike mentioned previously, there is talk of overall production numbers being limited further.

I noticed recently that only 500 111 Ls are to be built (compared to 3,000 Ks)



Cheers

Very true about the Pre-A and Pre-V's. Prices are down for the popular models such as the 28L and the 26K you could not touch for less than 11 to 12k USD but now the prices are ranging from 9K to 10k USd.

As for the Pre A's I have had a mint Pre 4A offered to me for 16k Euro but what I really want is a Pre 9A but even a 9A it is rare to see one come up for sale and I have never seen a Pre 9A for sale. Some of 202/A and 203/A have come on the market but rarely are they anywhere near mint. Owners still asking a high price for average specimens. I do have one seller offering me a mint 203/A that really is a mint piece. Seller even has a rare Dirk strap and the Dirk reproduction of the Pre-V buckle with the Panerai name and logo on it to throw in with this purchase. When he wore the 203/A he used the Dirk strap thus the 2 oriignal straps are mint as well. I am considering buying this so much I am seriously thinking of selling my 28B, my 270J and my 93D to partially finance the 203/A. Oh and lest I forget my 2 IWC 's are going as well.

[Spencer]

I’ll be honest, I just got back into the Panerai game after owning a PAM 111H and selling it. I have read/heard a lot of people bashing Panerai lately. Most of which I totally blow off, but some people have some valid arguments and points about them slowing down.

Honestly, I think Panerai would not be as big as it is still today w/o the Panerisiti community. Say what you will; about all other watch lovers/followers but the Panerisiti are cut from a different cloth, so passionate.

That being said, I do think that Panerai’s luster is wearing a bit off, but by no means gone, nor will it anytime soon.

[Spencer]

Just read through the entire thread and I was surprised to see that nobody touched on the fact that perhaps Panerai’s popularity is slowing because the over sized watch fad may be losing steam, regardless of the economy, and truth be told, most Panerais are pretty darn basic. Yes that is why many of us love them, but to the non WIS, they just look at it as some oversized pocket watch going for $5-$10K.

[GMTJOHNNY]

I still can't understand the dials on their faces. The GMT does not have a rotating bezel or even numbers on it. Too vague for my taste. The whole leather band on a waterproof watch also seems conflicting. IMHO.....I am a ROLEX man through and through!

[Milgauss J]

It seems to me that the market is down overall. I am seeing a lot more Daytonas available these days as well. It is unheard of 2 years ago to see them sitting in the case but now, I have seen them quite a bit. Watches just aren't on people's minds as much with all that is going on. I am kind of happy to see this down turn as I am able to pick up a 292 when before I probably wouldn't have had the chance to. I might pick up a Daytona as well one of these days while I can find them. The SS Daytona has always been my dream watch, but was never able to get my hands on one without paying a premium here in LA. I am not a huge watch collector and no one would ever call me up to say they have one available, but now I can walk in and can try one on...