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16 May 2020, 05:33 PM | #1 |
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If you ignore the flippers, Panerai seems to be doing pretty well
As part of their May 15 results announcement, Richemont communicated watch sales fell 4% during the financial year ending March 31 (already reflecting COVID-19 impacts).
But Panerai and Lange were both praised for their “notable performance”. It seems that while online fans and flippers sometimes have a hard time with Panerai, the market seems to like what the brand is and where it is going. |
16 May 2020, 08:19 PM | #2 |
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Good to hear
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16 May 2020, 09:43 PM | #3 |
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Good news for Panerai. I am a huge fan but think the band has been on drift for awhile and with the new pieces and prices it will be interesting to see what happens.
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16 May 2020, 10:42 PM | #4 |
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My favorite brand.
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16 May 2020, 11:00 PM | #5 |
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Thanks for this Cru
Can you link to the article for us nerds who like to read more but are too lazy to google |
16 May 2020, 11:03 PM | #6 | |
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Here you go, Brian. https://watchesbysjx.com/2020/05/ric...ults-2020.html |
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16 May 2020, 11:06 PM | #7 |
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Good news, let's hope things pick up quickly once this horrible virus goes away.
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16 May 2020, 11:07 PM | #8 | |
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16 May 2020, 11:15 PM | #9 |
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Interesting article.
Retail sales outperformed wholesale sales. I guess the third party retailers have been hit harder than their own stores ... or perhaps their own stores are just a better experience for the consumer ... Also, interesting to see they lost money with their online sales. Perhaps it’s not as easy as everyone thinks Love the brand and hope to see them continue to prosper |
16 May 2020, 11:20 PM | #10 | |
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All good observations, my friend. Thanks for that. |
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17 May 2020, 12:41 AM | #11 |
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Panerai is a exciting brand for me. There is enough conservative “same old, same old” brands out there to choose from.
I see similar parallels to my own Panerai collection. All my Panerai watches have held or exceeded what I paid for them not that it matters to me. I have noticed the new exotic materials Panerai is using is holding their value rather well. This is because there isn’t many in the wild. I studied the Carbotech examples for almost a year before taking the plunge as I needed to see how the material holds up. I was also waiting for a blow out price on the secondary market and that never happened. They go down after the initial new price and hold rock solid. You buy a Carbotech right and they are rock solid with their value retention if that matters to you. In the end these are a luxury and style purchases and I think the more stylish Panerai look draws more affluent buyers in buying them for the right reasons to enjoy and not commodity buyers more into the resale value and the actual watch a secondary concern. |
17 May 2020, 04:32 AM | #12 |
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also the move which panerai brings the warranty period from 2 up to 8 years is a smart one.
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17 May 2020, 05:24 AM | #13 | |
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Does anyone know if a secondhand watch bought in the last 6-9 months can get this benefit, i.e. does the guarantee travel with the watch or just with the first owner.
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17 May 2020, 06:55 AM | #14 |
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Great to hear Pam is doing well.
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17 May 2020, 07:06 AM | #15 |
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100% agree. Panerai is upping their game with materials, etc. Like another post, was waiting to see how the carbon held up. Solid!
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17 May 2020, 08:52 AM | #16 |
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4% does not sound like an overly poor loss to me. Just my humble opinion.
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17 May 2020, 05:39 PM | #17 |
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I posted yesterday that there seems to be a lot more love for Panerai again. In my opinion they are still enthusiasts watches, unlike Rolex currently. With Rolex, many owners simply care only for its value, how long they waited to get it and the fact that it’s an easily recognised status symbol (clearly not the vast majority here thank goodness). Panerai isn’t recognisable unless you’ve been hit by the bug and bumping into someone else wearing one always leads to a conversation. I lost my love for Rolex a while ago (I’m sure it will return), but putting on my 233 daily really feels special.
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17 May 2020, 06:43 PM | #18 |
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Does anyone know if a secondhand watch bought in the last 6-9 months can get this benefit, i.e. does the guarantee travel with the watch or just with the first owner.[/QUOTE]
If the watch was initially bought within the past two years, you can register it on the Panerai website using the serial number. The warranty follows the watch, not the original owner I did this with a pre-owned piece I bought this past December and got the extension to 8 years. It only takes a few minutes.
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17 May 2020, 06:51 PM | #19 |
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I only have one Panerai and I can’t remember how much I paid for it.
I do know that they now seem to have a LOT of model numbers. But they do have some nice ones..... Ttiuwp....231.
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17 May 2020, 06:56 PM | #20 | |
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it would be a good way to authenticate a watch when buying from a grey dealer. |
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20 May 2020, 10:26 AM | #21 |
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Im starting to dig the brand again but WOW are some of the prices starting to SHOOT up. IF they kept those models VERY limited that would be ok...and damn, do I love the blue dial fibratech and even the new 42mm carbotech diver...but 16-17k is a bunch.
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20 May 2020, 10:39 PM | #22 |
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I agree Panerai is starting to gain momentum. I’m waiting for my panerai Radiomir 690 boutique today . I’ve purchased it from this forum . Watchexchangecompany.com (matt)
Thanks for the post !! |
20 May 2020, 11:36 PM | #23 |
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carbotech is good, i think its more scratch resistant than my SD43 and hulk. my 1616 is still in perfect condition after 4 months!
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21 May 2020, 12:31 AM | #24 |
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Wonderful to hear, and good to know, as am about to drop serious coin for a 1118. Am an exotic / race car guy so CF for the win
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21 May 2020, 02:20 AM | #25 | |
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Good to hear, thanks for the information.
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6 June 2020, 01:50 AM | #26 |
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Nothing wrong with Panerai.
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7 June 2020, 09:13 PM | #27 |
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Other that brand name, there is really nothing good about the Rolex experience.
At the Rolex store they profile you to buy a $8k watch, but at the Panerai store you can see a guy in flip flops and shorts buying a $25k Carbotech watch sipping on an espresso engaging in flirty conversation with a hot sales rep.
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7 June 2020, 10:04 PM | #28 |
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7 June 2020, 10:11 PM | #29 | |
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Sent from my SM-G960W using Tapatalk |
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7 June 2020, 11:00 PM | #30 | |
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