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Old 21 April 2018, 11:46 PM   #1
Bearxj86
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PAM 112 Base - A story - do the right thing?

Hi everyone,

This is my first post on the Panerai side of the house. Here is a story and I would like to hear your recommendations.

About a year ago, I bought an Omega speedmaster brown dial sapphire sandwich for $3900 - came with an extra deployment strap and was a few years old in mint condition. Tried in on, didn't really like it (I guess I am not into Chronographs) and I ended up trading it for a PAM 112 full set to a really nice gentleman who pretty much loves Speedies and PAMs.

We kept in touch and a few months ago he pinged me saying he realized after trading that he had a strong emotional connection to the watch (the 112). It had accompanied him on some of some very significant life events including with his kids and while he already had the same model in Titanium (PAM 176) - he really wants it back. He also begged me not to sell it and he would reach out when he had the funds to buy.

He pinged yesterday and he has the cash. By this time I am both attached to the watch (it was my first Panerai) but he definitely wants/needs it more. Since then, the prices seem to have gone up to around $4500 to $5000 but I feel it is wrong to profit from someone's emotional needs.

Any thoughts? I am thinking to sell it back at $3900 and do the right thing here. I have plenty of nice watches and the PAM 112 doesn't get the most wrist time but I do like it very much.
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Old 22 April 2018, 12:04 AM   #2
rebel_1
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The fair thing to do is to sell it at current market value IMO. Maybe meet him in the middle.
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Old 22 April 2018, 12:10 AM   #3
Ravager135
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I think it's your decision to do with as you wish guilt free. If you are inclined to sell it to him, you may charge whatever you like. If you'd rather not sell, that's something he should have considered before selling it to you. I don't think selling at a premium is unreasonable as he is technically inconveniencing you and you should get enough to finance a replacement.
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Old 22 April 2018, 01:07 AM   #4
Cru Jones
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I probably would have crossed this bridge, decision-wise, when he first contacted you months ago....

Anyway, if he wants "his" 112 back and you can give yours up, why not have him source another 112 of similar age/condition and you guys then trade ?
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Old 22 April 2018, 01:30 AM   #5
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I’ll say go with your heart.
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Old 22 April 2018, 01:33 AM   #6
brandrea
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Quote:
Originally Posted by Cru Jones View Post
I probably would have crossed this bridge, decision-wise, when he first contacted you months ago....

Anyway, if he wants "his" 112 back and you can give yours up, why not have him source another 112 of similar age/condition and you guys then trade ?
This sounds like a creative solution to the conundrum
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Old 22 April 2018, 03:05 AM   #7
Bearxj86
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This is great feedback guys. Thanks, lots to think about.
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Old 22 April 2018, 04:06 AM   #8
Pattyb69
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Damn. Tough situation to be in. Personally, I would sell it back to the guy because it has a lot of meaning to him and I would feel good knowing I didn't keep that away from him. However, I think it would be fair for him to give you market value for the watch so that you can source another one.
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Old 22 April 2018, 04:18 AM   #9
Fredrik
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How about trading his 176 for it? If you like titanium.
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Old 22 April 2018, 05:11 AM   #10
mg18
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I would likely sell it to him for the cost of sourcing another one of equal condition, just to be fair to both parties.

BTW, your signature says Panerai Luminor Marina Base, i think the 112 is just a luminor base. Just thought i'd point that out!

Goodluck with the situation sir.
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Old 22 April 2018, 06:18 AM   #11
rootbeer7
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Originally Posted by mg18 View Post
I would likely sell it to him for the cost of sourcing another one of equal condition, just to be fair to both parties.


Goodluck with the situation sir.
This
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Old 22 April 2018, 07:02 AM   #12
pakal
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112 is becoming a sought after reference . For its semplicity but also because Panerai have lowered the bar on the quality of their base models ( snap on case, 100 mt water resistance , integrated bezel, springbars ) . I'd say its only fair that you get its current market value .
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Old 22 April 2018, 08:22 AM   #13
cuibono
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This
Agreed, this. Or trade for another one of his PAMs straight up

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Old 22 April 2018, 10:49 PM   #14
utc66
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My only PaneraI is the 112 and in 9 years I've never considered parting with it.
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Old 22 April 2018, 11:14 PM   #15
fullcourt
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meet him in the middle if you're so inclined....
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Old 22 April 2018, 11:51 PM   #16
Bearxj86
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Quote:
Originally Posted by pakal View Post
112 is becoming a sought after reference . For its semplicity but also because Panerai have lowered the bar on the quality of their base models ( snap on case, 100 mt water resistance , integrated bezel, springbars ) . I'd say its only fair that you get its current market value .
That is what I've noticed. Many observers bemoan the direction Panerai is heading with build quality.

The 112 is a tank! Even though ETA movement, the decoration is really nice and 300m water resistance as a true dive watch should be.
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Old 23 April 2018, 02:01 AM   #17
Statos
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I agree here with most that he should source another 112 of similar age and condition and then do a trade with you.
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Old 4 June 2018, 07:30 PM   #18
jpwv
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I agree here with most that he should source another 112 of similar age and condition and then do a trade with you.
best solution
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Old 5 June 2018, 05:31 AM   #19
stockae92
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Originally Posted by Statos View Post
I agree here with most that he should source another 112 of similar age and condition and then do a trade with you.
This or sell at current market value.

You bought it fair and square so you owe him nothing. Actually, the least he could do is to offer to buy it at market value.
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Old 5 June 2018, 06:13 AM   #20
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Quote:
Originally Posted by pakal View Post
112 is becoming a sought after reference . For its semplicity but also because Panerai have lowered the bar on the quality of their base models ( snap on case, 100 mt water resistance , integrated bezel, springbars ) . I'd say its only fair that you get its current market value .
Quote:
Originally Posted by bearxj86 View Post
That is what I've noticed. Many observers bemoan the direction Panerai is heading with build quality.
Maybe he realized this too
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Old 5 June 2018, 06:37 AM   #21
polaris72
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It is gracious of you that you are willing to sell it back to him, good on you. We should help each other. Ideally, sell it at a replacement cost, in other words, look around and locate another 112. I am sure you want to get one too and you should not loose or make (if you choose so) any money on it.
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Old 5 June 2018, 07:18 AM   #22
Bearxj86
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The story ends "well" after a few months. I actually ended up getting a PAM 176 full box and papers for the 112 from him.
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Old 5 June 2018, 10:17 AM   #23
fullcourt
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Originally Posted by bearxj86 View Post
The story ends "well" after a few months. I actually ended up getting a PAM 176 full box and papers for the 112 from him.
very cool....nice story, enjoy
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Old 5 June 2018, 03:34 PM   #24
CoveWatch
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Originally Posted by bearxj86 View Post
The story ends "well" after a few months. I actually ended up getting a PAM 176 full box and papers for the 112 from him.
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Old 20 June 2018, 01:06 PM   #25
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Well done!
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