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Old 13 February 2020, 01:18 PM   #1
vancouverthunder
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Panerai prices during a recession

If you were a Panerai enthusiast during the 2008 stock market crash and recession I am interested to know your thoughts on grey market prices of Panerai watches during this time. I do believe we will have another crash in the next 1.5 years (worse) and would wait if this affects prices. I like the PAM 911 but cant justified it at its price right now.
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Old 13 February 2020, 02:57 PM   #2
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I personally believe that you can't put a monetary value on time and enjoyment. If waiting a few years to save some money makes you happy, then do it. Anything 'may' happen in the future.
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Old 13 February 2020, 09:25 PM   #3
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I think with your savvy for economics you already know the answer to this one.

Off topic, but after the 2008 event I picked up a 911, only mine had an engine with no coolant mounted at the wrong end
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Old 13 February 2020, 09:46 PM   #4
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The formula I use is what I can buy the watch for now. What the watch is bringing from a Grey or me selling to a buyer myself. What is the number between and that is the cost to me on the watch. Figure in how long you wear the watch and that is the cost. I typically buy pre-owned or new with a significant discount so those numbers are closer together but always a loss on a non-LE/SE Panerai. In a financial recession I found that Grey Dealers only wanted the popular historical models that where easier to move. If you want a Panerai buy it because you really like it but understand that in good or bad financial times the market to sell or trade is very different from Rolex or PP. I own three, my folly.
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Old 14 February 2020, 12:12 PM   #5
vancouverthunder
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The formula I use is what I can buy the watch for now. What the watch is bringing from a Grey or me selling to a buyer myself. What is the number between and that is the cost to me on the watch. Figure in how long you wear the watch and that is the cost. I typically buy pre-owned or new with a significant discount so those numbers are closer together but always a loss on a non-LE/SE Panerai. In a financial recession I found that Grey Dealers only wanted the popular historical models that where easier to move. If you want a Panerai buy it because you really like it but understand that in good or bad financial times the market to sell or trade is very different from Rolex or PP. I own three, my folly.
Good insight. I am noticing that now on Craigslist in my area the Panerai's are not moving. I read a post that Panerai is coming out with numerous models this year....will be patient on this one. Besides I am still smitten with the Planet Ocean I recently purchased. Thanks.
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Old 15 February 2020, 07:22 AM   #6
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I think with your savvy for economics you already know the answer to this one.
lol
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Old 15 February 2020, 08:20 AM   #7
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Not sure about that.

I heard 1.5 years ago a crash was coming in 1.5 years. And in another 1.5 years we will hear the same thing.
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Old 16 February 2020, 05:16 AM   #8
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Originally Posted by vancouverthunder View Post
Good insight. I am noticing that now on Craigslist in my area the Panerai's are not moving. I read a post that Panerai is coming out with numerous models this year....will be patient on this one. Besides I am still smitten with the Planet Ocean I recently purchased. Thanks.
In my humble opinion Panerais have been difficult to move for many many years. This isnít a new issue.
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Old 17 February 2020, 12:03 AM   #9
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If you can’t justify it at the current price and are thinking about recessions then you should not be buying luxury watch period. I think people have got to obsessed with value retention when it comes to watches. These things you should buy because you love them and for no other reason. You will lose money if you sell them 99% of the time. I mean do you ever think about how much your designer jeans or trainers will be worth if you need to sell them? Of course not. You buy them because you love them and watches are no different in that regard they’re just a lot more expensive.
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Old 17 February 2020, 01:30 AM   #10
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If you canít justify it at the current price and are thinking about recessions then you should not be buying luxury watch period. I think people have got to obsessed with value retention when it comes to watches. These things you should buy because you love them and for no other reason. You will lose money if you sell them 99% of the time. I mean do you ever think about how much your designer jeans or trainers will be worth if you need to sell them? Of course not. You buy them because you love them and watches are no different in that regard theyíre just a lot more expensive.
Or BMW, Mercedes, etc, etc.

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Old 17 February 2020, 03:27 AM   #11
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Good insight. I am noticing that now on Craigslist in my area the Panerai's are not moving.
Thats what I would expect. Would you buy a Panerai off Craig's List?

In my experience from keeping an eye on listings, the oversupply in the secondary market is drying up. Type any popular model into WatchRecon and you used to get pages of hits, now you only get a couple of watches, if any.
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Old 3 March 2020, 12:20 PM   #12
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I had two Panerai in 2008 - 000 and 232 - still have them. Regardless of financial times I enjoyed them both through the downturn and still do. Full disclosure my daughter now enjoys the zero.
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Old 3 March 2020, 12:31 PM   #13
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I had two Panerai in 2008 - 000 and 232 - still have them. Regardless of financial times I enjoyed them both through the downturn and still do. Full disclosure my daughter now enjoys the zero.
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Old 3 March 2020, 02:47 PM   #14
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Originally Posted by vancouverthunder View Post
If you were a Panerai enthusiast during the 2008 stock market crash and recession I am interested to know your thoughts on grey market prices of Panerai watches during this time. I do believe we will have another crash in the next 1.5 years (worse) and would wait if this affects prices. I like the PAM 911 but cant justified it at its price right now.
If value retention and resale are any part of your decision process to buy a watch, then Panerai is not for you.

In fact, most brands wonít be.
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Old 3 March 2020, 03:08 PM   #15
L_S_SHOE
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Originally Posted by emtee View Post
If you canít justify it at the current price and are thinking about recessions then you should not be buying luxury watch period. I think people have got to obsessed with value retention when it comes to watches. These things you should buy because you love them and for no other reason. You will lose money if you sell them 99% of the time. I mean do you ever think about how much your designer jeans or trainers will be worth if you need to sell them? Of course not. You buy them because you love them and watches are no different in that regard theyíre just a lot more expensive.


Agree.


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Old 2 April 2020, 01:46 PM   #16
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If value retention and resale are any part of your decision process to buy a watch, then Panerai is not for you.

In fact, most brands wonít be.
Could not agree more.

It is hobby.
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Old 11 April 2020, 11:00 AM   #17
RoscoPico
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it's a fair question. i kinda got into watches accidentally after just wanting to fix an old aqua terra i had lying around. next thing i wanted a steel bracelet, 5 years and 30+ watches later, shite happens.

but i approached this a bit differently than the last hobby i dumped over 100k into. i tried to be patient and buy, primarily what i like and can afford, but secondly, at a fair price.

at least this time around if i haven't made any money, i also haven't lost it all, and i have been enjoying watches immensely.
and yeah, i haven't ever really seen panerai as an "investment" watch by any means
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Old 11 April 2020, 09:32 PM   #18
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I wasnít around during the Panerai hyped years in the watch community. I was already under the impression that Panerais were pretty good value prior to our financial economic burdens. They may dip a little lower (possibly a couple hundred) but I donít see how they could go much lower than they already are. I think in the watch community weíre going to see the biggest dip (and actually are seeing this now) with the hyped Rolex, AP, And PP pieces.
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Old 12 April 2020, 11:56 AM   #19
Marchy
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This is exactly why I recently gotten myself a Panerai. Aside from having to scratch an itch, I know its the best value I can get on a watch unlike Rolex. At Rolex grey prices, I would get an AP or other brands instead.
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