# Are people still buying used Panerai?



## UptownKevin (May 13, 2020)

I am looking around and plan to buy a PAM 2392 soon, new or used. When I've been browsing listings online (WUS, Facebook, etc.) I have found that many used Panerai are being listed for ridiculous prices, sometimes at the price of a new (with a discount). I'm talking 80% to 90% of list price. Are they really selling at these prices? There's no point in me buying a used watch that I can buy brand new from a AD for a few hundred dollars more. I know Rolex used prices are off the charts but I wonder if any of these used models are actually selling. What are you paying for used Panerai?


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## Jonathan T (Oct 28, 2020)

That’s right. I came to the same conclusion when I went and bought a new 1086. Old models even the 111/112 were barely cheaper than a brand new Panerai! No brainer to go new especially with the 8 year warranty.


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## 54B (Jan 6, 2016)

You have a point about used prices. I bought a 7 year old used 564 for about 78% of the RRP of a new 915. They have some similarities (small seconds, P.5000 8 day movement) and some differences (mine is titanium and has a brown non-sandwich dial). The reason I bought used is because I couldn't get what I wanted new: a Titanium Panerai with a Bettarini case.


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## cykrops (Mar 30, 2021)

Asking price and selling price can be totally different. If you see one you like make an offer!


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## nrcooled (Jun 14, 2011)

I've also noticed the price of used PAMs going up. I was talking to my wife about this about a year ago and that my collection of PAMs will increase in value.

I've bought all but one used and got them for about ~50-65% of retail. My gamble is paying off but, ironically, I have zero interest in selling any of them.


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## 14060 (Nov 27, 2010)

Try using WatchRecon and see what you come up with.


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## Stephen2020 (Aug 14, 2014)

My used one was £1050 cheaper than new, the watch body was excellent, like new, the strap had taken on a curve due to being worn, but otherwise looked like new, with box and papers. It was worth it for me.


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## paul-smith (Oct 12, 2021)

Despite the constant youtuber comments about Panerai loosing value and no secondary market, the truth if quite different.

Many models, in particular Carbotech are selling used at 85% of new price. Grey market is limited and is not offering anything beyond 15% and nothing on some models.

If I am wrong can someone get me a 1314 or a 1316 at 50% off?


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## TaxMan (Nov 3, 2016)

I hear stories like this for Panerai, and similar stories for other brands, like Omega, and I can’t help but wonder if the Rolex disease is spreading as people take the premium watch desire and move to brands that are more available.


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## Ben_Jammin_1006 (Aug 9, 2021)

Had a used PAM 104 from '03.. Bought well an exited for a profit. Even though it hadn't had a service in 10 years it was running completely up to spec on my timegrapher! And aside from some little differences in design it looked like it would fit right in with the modern pieces


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## greedy (Dec 19, 2017)

Do not follow the market but it is a brand that I would only buy from a trusted source and with papers.


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## michaelodonnell123 (May 26, 2017)

I recently bought a used Pam 112 for $4,500. I was considering buying new but I wanted the following: sandwich dial, no second hand, display case back and under $5,000. For me the 112 is the perfect watch.


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## espresso&watches (Feb 14, 2019)

cykrops said:


> Asking price and selling price can be totally different. If you see one you like make an offer!


100%, and especially on sites like Chrono24 where the asking price is usually ludicrous. I've sold 2 Panerai's in the last 18 months, and after negotiation both ended up selling for around 65% of the original retail price.


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## Tomi1980 (Nov 24, 2021)

espresso&watches said:


> 100%, and especially on sites like Chrono24 where the asking price is usually ludicrous. I've sold 2 Panerai's in the last 18 months, and after negotiation both ended up selling for around 65% of the original retail price.


You can use sell option on chrono24. They calculate watch's current market value based on sales prices received by other private sellers. I am not sure how their engine works, but gives you some kind of approx. I would say if you buy new from AD with 10 to 12% discount they hold value very good. But I noticed that discount are lower and lower.


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## espresso&watches (Feb 14, 2019)

Tomi1980 said:


> I would say if you buy new from AD with 10 to 12% discount they hold value very good. But I noticed that discount are lower and lower.


The watch I just sold I bought from and AD with 15% discount, then sold a few years later for 65% of retail. I wouldn't call that holding value well, but perhaps the market in Australis is different to others.


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## Jonathan T (Oct 28, 2020)

greedy said:


> Do not follow the market but it is a brand that I would only buy from a trusted source and with papers.


Yes there are way too many good Panerai replicas out there


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## Jetrider (Apr 26, 2010)

The Panerai used market was rockin’ long before Rolex hit the stratosphere. It bottomed out few years ago, pretty much stagnant now. If your looking at a piece with a in-house movement then buy new. The warranty is worth the price of ownership because if anything goes south, PASC is the ONLY way you can get it fixed.


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## paul-smith (Oct 12, 2021)

I agree it does depend on the model and the location. I am mainly looking at current models and maybe those are holding value best.


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## paul-smith (Oct 12, 2021)

@espresso&watches Which model did you sell?


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## Jetrider (Apr 26, 2010)

The last survivor!


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## Stephen2020 (Aug 14, 2014)

That's very nice! I like the idea of a left crown watch, a luxury watch is a lot to spend if I ended up not liking a left crown though.


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## sharpq (May 12, 2011)

I have had 3 in the past, a 183 Radiomir and two 42mm Luminors, black dial and the white dial. Sold the 183 thinking it was too big. Bought and Sold the Luminors thinking if I’m going to have a Luminor it has to be the traditional 44mm.🤔. What??? 😄 Now I recently picked up a 320 GMT for a good used price and am loving it. Go figure! Already bought six straps. (the sickness continues). It’s funny, I’m loving the size now and the robust case, funny how tastes change. I guess I’m going against the trend nowadays of going smaller, perfect time to buy a used one. I think the market will bounce back on the Panerai as the history and uniqueness of this big military watch will endure.


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## bigclive2011 (Mar 17, 2013)

I have always bought used with one exception, as I hate the initial 40% depreciation that comes with a new watch (Rolex excepted of course) with the caveat of being 100% happy with the seller and their reputation.


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## stonecastle (Dec 6, 2021)

nrcooled said:


> I've also noticed the price of used PAMs going up. I was talking to my wife about this about a year ago and that my collection of PAMs will increase in value.
> 
> I've bought all but one used and got them for about ~50-65% of retail. My gamble is paying off but, ironically, I have zero interest in selling any of them.


How do you find the crown on the Radiomir? I have a Pam00124 with the crown guard like your other ones, and I always thought (until I actually owned one) that the guard would continually hit the back of my hand during normal use.... wasn't the case. Same with the Radiomir?


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## nrcooled (Jun 14, 2011)

stonecastle said:


> How do you find the crown on the Radiomir? I have a Pam00124 with the crown guard like your other ones, and I always thought (until I actually owned one) that the guard would continually hit the back of my hand during normal use.... wasn't the case. Same with the Radiomir?


I purposefully wear mine a little higher on my wrist to avoid this. If the strap is too loose it drops down and constantly hits the back of my hand. 

To be clear, if it's properly sized on strap it's really comfortable. Also it's surprisingly light for such a large watch.









Sent from my SM-F926U using Tapatalk


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## stonecastle (Dec 6, 2021)

nrcooled said:


> I purposefully wear mine a little higher on my wrist to avoid this. If the strap is too loose it drops down and constantly hits the back of my hand.
> 
> To be clear, if it's properly sized on strap it's really comfortable. Also it's surprisingly light for such a large watch.
> 
> ...


Thanks! You have a nice collection going… 😎👍


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## nrcooled (Jun 14, 2011)

stonecastle said:


> Thanks! You have a nice collection going…


Thank you sir! Good luck and I can't wait to see pics of your next PAM

Sent from my SM-F926U using Tapatalk


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## Jonathan T (Oct 28, 2020)

nrcooled said:


> I purposefully wear mine a little higher on my wrist to avoid this. If the strap is too loose it drops down and constantly hits the back of my hand.
> 
> To be clear, if it's properly sized on strap it's really comfortable. Also it's surprisingly light for such a large watch.
> 
> ...


Indeed it’s light for a big watch which is what convinced me I could wear one!


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## Stephen2020 (Aug 14, 2014)

stonecastle said:


> How do you find the crown on the Radiomir? I have a Pam00124 with the crown guard like your other ones, and I always thought (until I actually owned one) that the guard would continually hit the back of my hand during normal use.... wasn't the case. Same with the Radiomir?


This is something I had never heard of, I wear my Radiomir on my right side wrist. I do with all my watches about 99% of the time, but sometimes one on each wrist, sometimes left side, this means I am used to wearing a watch on any side and neither feels odd.


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## stonecastle (Dec 6, 2021)

nrcooled said:


> I purposefully wear mine a little higher on my wrist to avoid this. If the strap is too loose it drops down and constantly hits the back of my hand.
> 
> To be clear, if it's properly sized on strap it's really comfortable. Also it's surprisingly light for such a large watch.
> 
> ...


I can concur with the lightness. Mine has a titanium case with a SS bezel, so that makes it even lighter. I frequently have strap sizing issues, with either the links or hole positions making it slighlty too tight or too loose. I am a bit over 7", and it varies what what I eat, drink and weather temperature. I do like my tudor with the micro adjustment clasp. Does anyone had a recommendation for a Panerai band (doesn't have to be OEM) that is great looking and allows for slight wrist dimensional changes? TIA


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## DON (Feb 14, 2006)

Do AD's have the model you want? If not. You have to pay what some are asking (if you need it that badly)

As mentioned. People can ask whatever they want. Getting that price is a different story. Some sellers are delusional and maybe so dyslexic they can't tell the difference between Rolex and Panerai

Wait for everything to try and get back to normal and wait and see if prices go back to normal also

DON


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## nrcooled (Jun 14, 2011)

stonecastle said:


> I do like my tudor with the micro adjustment clasp. Does anyone had a recommendation for a Panerai band (doesn't have to be OEM) that is great looking and allows for slight wrist dimensional changes? TIA


I also love the Tudor clasp on my Pelagos! I wish there was a bracelet solution for Panerai that had microadjustments. 



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## ChubbyPan (Jun 9, 2017)

espresso&watches said:


> The watch I just sold I bought from and AD with 15% discount, then sold a few years later for 65% of retail. I wouldn't call that holding value well, but perhaps the market in Australis is different to othersPanerais just arent holding value..
> 
> 
> 
> ...


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## Dwijaya (Dec 29, 2014)

Jetrider said:


> The last survivor!
> 
> View attachment 16433410


what pam series of this beauty LHD?


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## Jetrider (Apr 26, 2010)

Dwijaya said:


> what pam series of this beauty LHD?


This is “A” series PAM22. Only 200 in existence!


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## Monkwearmouth (Feb 21, 2013)

I got my 0796 last summer for 70% of new price from Watchfinder , only six months old , rubber unused, box and papers, perfect condition. Suggests to me the used market is fairly soft. Make an offer! 


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## Stefandaustrian (Jan 24, 2021)

I just sold my 312 for about $200 less than I bought it for a year ago, but I will have to say that I see many Panerai’s on “ for sale “ forums and sites , that tend to sit there for a long time , despite the fact that the seller is reputable and the set is complete.

There are some exceptions , 233 sell overnight as do some other classics. There is a guy here in my area trying to sell a like new 361 for a little over 3k and has been trying to move it for month. 

When I sold my 312 , I contacted several watch buyers in my area (SF) jut to avoid the hassle of dealing with a private sale and was told by all of them that they are not interested in Panerai’s at the moment as they don’t tend to sell ( their words not mine )


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## Jean1888 (Jul 14, 2020)

Panerai prices seem ridiculously high for used models on Chrono and ebay. . I was eyeing a couple of 2000-2001 models and they cost nearly as much as new. So I bought a slightly used newer model at the end. Seems like they don’t sell but no one is willing to lower the price.


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## chaosman (Mar 25, 2009)

watch market in general prices have gone up across the board. Used pieces I was looking at a year ago were trading at 30% discount now a lot of them at 10-15% discount. People getting pushed out of AP, PP, Rolex are looking at other brands


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## WatchDutchy (Apr 13, 2021)

For sure! Love them and they hold their value.


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## Stephen2020 (Aug 14, 2014)

Get new or used as soon as you can afford it, the way prices are going up.


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## Hoppyjr (Aug 11, 2006)

Accidental post.


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## FQ01 (Sep 14, 2019)

I have 0 interest in new models, they don't have that PAM DNA for me: maybe it's the lack of domed crystals, maybe different fonts, maybe the movememt scandals, maybe this push to a luxury segment with new materials that I don't care about.

But I'm always on a hunt for older models in great condition: 112/111, 000/005 - those are just perfect PAMs for me. 911 is really "the last one for Paneristi" in my book. Maybe someday I'll be lucky to acquire an A series model)

Sent from my SM-N960F using Tapatalk


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## philricciardi (Jan 26, 2019)

Panerai’s are great value and the market is realizing it. Been gradually increasing for some time while other brands skyrocketed up and became unattainable or a bad value at their market/trading price. Buy what you like and if you see a used piece at a price higher than you’d like, I have found that most sellers are willing to listen to reasonable offers. The worst that could happen is they say no. 


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## RMA (Oct 16, 2013)

You & I both, the newer models do not interest me in the least and as for anything later it would have to be the 911.


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## teddyroze (7 mo ago)

michaelodonnell123 said:


> I recently bought a used Pam 112 for $4,500. I was considering buying new but I wanted the following: sandwich dial, no second hand, display case back and under $5,000. For me the 112 is the perfect watch.
> View attachment 16431834


I could not agree more! Such a legendary watch, so simple and clean, and amazing lume!! Love the PAM 112


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## teddyroze (7 mo ago)

nrcooled said:


> I've also noticed the price of used PAMs going up. I was talking to my wife about this about a year ago and that my collection of PAMs will increase in value.
> 
> I've bought all but one used and got them for about ~50-65% of retail. My gamble is paying off but, ironically, I have zero interest in selling any of them.


My dream Panerai lineup is this picture..well done on your selection and variety. Its the strap variety really for me that turns your 6 watches into 30 different watches. Skys the limit here. Excellent sir


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## bigjaymofo (Nov 5, 2017)

With the changes they have made to their new models, especially the entry level models, you have no choice but to buy used.

Snap in case backs, no screw lugs, reduced water resistance = hard pass.


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## Stephen2020 (Aug 14, 2014)

I wonder what Rolex think of their technically developed world famous Oyster case being turned into to a snap-on case?


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## LP49 (Jun 4, 2015)

Hi-I have a used Pan 112 coming to me soon. It was serviced by Pan in 2019. Has all the boxes, papers and tools with the oiginal rubber strap and two Pan alligator straps. I paid $3650 for it. Hoping that it is as good in person as it looked in the advert and that I made a good purchase. I'll keep you posted.


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## LP49 (Jun 4, 2015)

Here it is. Love it!


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## Phrank (Jun 24, 2014)

I just bought a Panerai Luminor Marina 8 Days 510, S serial so 2016, full set, my first Panerai, waiting for it to arrive, well under $5k Cad, easy peasy way to see if I like the brand/watch - been curious for awhile.


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## Djalexander32 (Aug 17, 2021)

Great watch!!


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## 54B (Jan 6, 2016)

I am still buying used Panerai! It depends on the watch. My previous PAM was from the boutique. But, when I went back to the boutique for a Radiomir they didn’t have something that ticked all of my boxes. In short, they didn’t have a PAM190 (and probably haven’t had one in 15 years). So, I waited and found this used one. 



















In terms of value, the closest new watch is probably the 992 (8 days Radiomir), which retails for slightly more than my used 190. Given the features of the 190 (gold hands, JLC movement), I think that’s fair relative value but of course that’s a personal thing.


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## Lastlineofdefense (Aug 13, 2019)

This just arrived today. Yes, I'm still buying used Panerai!


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## Tseg (Mar 29, 2014)

Dang, a Panerai is about the last "box to check" from when I started accumulating about 8 years ago. I want me a nice Radiomir. Looks like it will still have to wait as I have a different pricey box-checker en route.


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## Phrank (Jun 24, 2014)

Yup, wanted to "dip my toe" into the brand, so this was my first, many straps on the way! lol Who knew they made straps from old ammunition belts, RubberB has made "Swimskin" bands, have one that looks exactly like a black alligator strap on the way, but all rubber! Think I've got 5 straps on the way. Next, will be a Blue Dial, older model, but am going to enjoy this for awhile.

Now that I've had it in hand since Tuesday, I'm impressed, beautiful watch, completely different than my Rolex/Omega collection (among others), unique piece and look - couldn't be happier. Very pleased with the high quality and craftsmanship, keeping perfect time and feels great on the wrist.


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## LP49 (Jun 4, 2015)

Still works


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## kjcolby1978 (Jan 25, 2013)

I may sell my 104 soon and am scared of how low the price may be for it!


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## elim (Jul 23, 2009)

There is ZERO market for a used 1074...... But I am willing to help those who may have one by taking off your hands if you like.


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## Seize (Sep 30, 2019)

I picked up this PAM 00088 from Japan off of Chrono24 about two months ago. It’s my first PAM and I think it’s fantastic!


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## LP49 (Jun 4, 2015)

My used 112 with my used slligator strap, and soon to be with used oem buckle.


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## Phrank (Jun 24, 2014)

...and I did it again....Big Boi Panerai 422 on the way....47mm of Steel on the wrist, should be here early next week or sooner.


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## LP49 (Jun 4, 2015)

Got my used Oem buckle--the circle is complete.


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## Phrank (Jun 24, 2014)

With the issues in China, seem to be lots of watches flooding the market, and now is a _great_ time to buy Panerai.

Just got my second in, big brother to my 510, awesome deal.

Panerai 422, 47mm, 3 Days, Power Reserve on back of exhibition caseback, sandwich dial, iconic Panerai.

What a beauty!


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## TalkingClock (May 9, 2021)

These things are spectacular. 👍 👍 👍


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## Drksaint (Dec 30, 2012)

I bought and sold 3 Pams in the last year. I enjoyed each piece for a few months and when I was ready to move on, I listed them right here on this forum. They sold lightening fast and I didn’t lose a penny on any of them. Despite what we’re told on YouTube and some forums, Panerai makes a beautiful watch with great heritage and they hold their value very well, especially when bought right.


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## Phrank (Jun 24, 2014)

Drksaint said:


> I bought and sold 3 Pams in the last year. I enjoyed each piece for a few months and when I was ready to move on, I listed them right here on this forum. They sold lightening fast and I didn’t lose a penny on any of them. Despite what we’re told on YouTube and some forums, Panerai makes a beautiful watch with great heritage and they hold their value very well, especially when bought right.


I'm with you, the two watches I found were on Chrono24, both Dealers, narrowed the search by "lowest to highest", both times I offered even lower, and the offer was accepted on the 510. I offered on the 510, which was a full set, thinking no way, dealer accepted.

The Panerai 422, didn't get away with the low ball offer lol, but price was very low, still gazing at this 422 on my wrist and gobsmacked I am, gobsmacked! lol

As a steadfast Rolex Boi, I have 3, I'm loving the legibility, beauty of the dials, the caseback, the unique look and feel, just glad to have discovered this brand finally.

And on another note, maybe this is just me, but wearing the Panerai, I find myself enjoying the watch much more, it's not such a "visible" brand like Rolex, if that makes any sense.

edited to add: the Panerai 422 was just watch and strap, in the pics, I figured it was some cheap strap and deployant buckle, I posted pics of the strap in "Is it Real" thread, but examining the strap and buckle, I think the strap is the Panerai Alligator Black Ecru 26.0/22.0 MM Standard MX0086Q1, guy must've just come in the shop, took the watch off and that was it, if it's a legit strap, it's $520 Cdn not including tax, so that, if in fact works out, would be another win. I purchased the strap you see on the watch from Panerai Boutique in Toronto, the OEM supposed to go with the watch.


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## Dmbarela85 (Dec 12, 2021)

With PAMs it seems there’s a couple of models that go for around retail but most should be significantly under when buying secondhand. Picked up a PAM 329 earlier this year for $4500 full set in great condition and couldn’t be happier.

Seems to be some good deals on PAMs popping up here and there, just gotta know what model you’re looking for and be ready to pounce when you come across and like others have mentioned, unfortunately no papers can often times be a deal breaker, on certain models in particular.

-DB


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## LP49 (Jun 4, 2015)

Got this PAM 112 for $3650 this year on an eBay auction. Was serviced in 2019 at Panerai and is a full kit with original purchase receipt and 3 oem straps. Love it to death!!


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