# Is Panerai a suitable investment?



## timdg (Jul 12, 2020)

Hi all,

I am new to this forum so hello.

I have a question relating to a watch investment I made back in 2007 on a PAM 292 J Series. At the time I wanted to buy a watch that would hopefully appreciate in value and I had a very limited budget (cost was £4,400 at the time). I had looked at other brands but knew little about watches (I did have, and still do have, a Luminor as a daily wearer so was aware of the brand and liked the fact at the time I didn't see many around) and I guess was persuaded quite a lot by the jeweller that sold it that it was a limited number run and this made it special! Always wondered if I was being taken for a ride! I also loved the look of it. 

Now I have never worn it with a view to liquidating it at some point but also I secretly hoped that I might one day be in a position where I didn't need to sell it and could wear it myself! I think Covid-19 has probably pushed that hope a good few years further away! 

My point in writing tonight though it to see whether perhaps my initial faith it would be an appreciating asset was misplaced and whether other models might have fared better as the values on 292s with the submersible PIG logo don't seem to have done much, even unworn ones like mine. Was Ceramic just a gimmick? Have more traditional material watches fared better? With limited/modest budgets for this kind of investment, if I liquidate this I'd like to look at investing in another Panerai model and wondered if the forum had any views on any models that would be worth me thinking about swapping in to if I liquidate this one. I think budgets would be around the £7-8K mark which I know may make me rather small fry so new models probably not an option vs pre-owned. 

Hopefully this isn't a silly question. Any guidance much appreciated. 

Keep safe.

Tim


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## bigclive2011 (Mar 17, 2013)

No watch is a suitable investment, unless you can grab a Daytona or a blue 5711 at MRSP which is virtually impossible.

Buy a watch to wear and enjoy, I have 6 Panerai and I know that if I had to sell it would be at a huge loss, so unless you really have to keep it and enjoy it.


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## adk225 (Feb 29, 2020)

No


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## M. Smith (Jul 11, 2020)

My 000 and 024 have been a good investment in pure enjoyment!


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## raja_3012 (Feb 12, 2014)

Watches for the most part are NOT an investment instrument barring few models from Patek & Rolex. Panerai is definitely *NOT* an investment material. You buy these luxury timekeepers for your own pleasure and joy. Period.


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## gsteve (Sep 25, 2007)

no


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## plohmann (Jan 7, 2007)

Watches are definitely not an investment, ever. However, I have been fairly successful at minimizing losses by selling watches I no longer favor to fund the ones I do. Still, I have not broken even, and don't expect to. And with regard to LE watches, it does nothing for the resale value and actually makes them harder to sell.
Also, seeing as it is the OP's first post, it may come across as a fishing expedition (never worn, want to sell etc.) Just roll it into a watch you want. You are not going to recoup what you have into it. If you want to invest, buy a nice $1000ish watch from a brand with legs (Mido, Oris, Hamilton, Seiko) and throw the other $7K into a stock or 401K. That's an investment.


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## Rocket1991 (Mar 15, 2018)

do i see excuse?


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## espresso&watches (Feb 14, 2019)

Let me make sure I understand this correctly. You purchased a 292 back in 2007, and it's sat unworn in a box for 13 years thinking it would be an investment. A quick google search for current prices of 292's would reveal that this has - not surprisingly - turned out to be quite a bad investment decision. You now want to sell the 292 (it will be at a loss) and use that money to invest in.....another Panerai? 

If your intention is to lose more money, pick any Panerai model as your next "investment". Doesn't matter which one, because none are going to appreciate. If you want to cut your losses, sell the watch and put that money into shares (you know, an actual investment...). If you like the look of the 292, wear it and enjoy the heck out of it - and in my view, that's the only reason to buy a watch.


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## PJMED (Feb 16, 2006)

timdg said:


> Hi all,
> 
> I am new to this forum so hello.
> 
> ...


Tim.

Sorry things are not going great. Believe me, you are not alone. I honestly do hope things improve for you. Watches, as a general rule, are not good investments. Like everything else, there are exceptions, but even these are not guaranteed. For example, currently some Rolex models appear to be a good investment (just like Panerai was years ago). But the truth is that nothing guarantees that the Rolex models will continue to be a good investment in the future. In fact, mechanical watches as a whole could become uninteresting to the masses and fade away. I'm not saying that this will happen, but anything is possible. It is difficult to predict what is going to happen and definitely, watches are not an exemption to this rule. I hope you bought the Radiomir because you REALLY liked it. That way if for some reason it appreciates in value then great. If not, you still have a watch you REALLY like. And don't feel bad, anybody who's spent decades on this hobby probably has stories like yours. I know I do. I have bought watches thinking they would appreciate in value and they haven't. I have also bought some that have appreciated. Although I still would not call them investments. If I had to be honest, the ones I thought I hit out of the park didn't pan out. And the ones that I didn't think much of them actually turned out better, go figure. And believe me, I've been into watches for a long time now. I've seen a few things. Anyway, I hope the watch doesn't cause too much of a dent in your financials and everything turns out ok. If you need any help just let me know and I'll do my best to help.


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## BerutoSenpai (Sep 7, 2016)

Just wear and enjoy it. I hope this serves as a (rather painful) lesson that watches are not investments.


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## Schussnik (Nov 27, 2016)

No


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## kritameth (Oct 11, 2015)

Yes, it can be defined as an investment. A _good _investment? Well that's a different matter. To be cheeky, how good were "traditional" investments during the financial crisis.


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## shockunit (Oct 14, 2008)

timdg said:


> Hi all,
> 
> I am new to this forum so hello.
> 
> ...


Hi Tim, I think you present a really interesting question, and your situation is likely quite unique, as I'm assuming most people buy a Panerai watch to wear, but you've actually saved one for over 10 years in pristine condition. I find that really fascinating. I believe that after the J series in 2007 that Panerai stopped including the "diver's torpedo" on the face of the watch, so perhaps you have something that is truly limited, on top of the fact that someone looking to add one of these to their collection in brand new condition, makes it all the more valuable.

I am certainly no expert, this is just a guess, and I don't know what the exchange rate was in 2007 to USD (.68 maybe?), but it seems to me that on Chrono24, the 292 J series is selling for what you paid for it or more. Again, could be wrong as I'm trying to complete the exchange rate in my head. However, none of these examples on Chrono24 are of a brand new J series from 2007. I think your watch has gone up in value.

Also, I have heard that as Panerai has raised the MSRP of their watches, older, used models sometimes sell for more than their MSRP. Ex: MSRP $3500, selling for $4500 today. I have not experienced this firsthand, I read it here.

What no one answered, and I would be curious as to the answer as well, pertaining to your question about what Panerai models have appreciated in value. That would be an interesting thing to explore, assuming there are any.

Thanks for posting your question. Very interesting. Let us know what you decide to do (keep it, hold it, or wear it).


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## JD305 (May 19, 2018)

watches should not be considered as investments ... however, I have some vintage Rolex that I feel have increased dramatically compared to stocks!

With Panerai ... if you had to speculate (and this is my opinion on the matter of Panerai as a brand that will hold its value) .. any Pre-V model, the first serial A series models (any model with tritium dials). Models that used a custom movement like those models that used Zenith movements (several chrono models originally used Zenith) .. and JLC movements (like the 190 which uses JLC 8 days movement). Special models that used the custom Soprod movements (27A,28A,57C). ... if you have the complete box and papers, the value of Panerai holds even more.


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## DON (Feb 14, 2006)

Don't even know if the OP is even bothering to read the posts,, but if you sold it now. You will maybe make a bit, but not much.

People don't care for the pig on the dial. Unless it's a coveted model. Even if a safe queen, doesn't mean it will be a quick sale

Early ceramic models also were not as popular as some show defects in the material

Certain models are squirreled away to rise in value. Others just gather dust

List it for £5,400 or see what you can get with a trade in at a Panerai dealer (if they take trade ins)

DON


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## BDK1 (Jun 16, 2020)

Higher end watches can be investments, but it’s all in the buy. You cannot go to a jeweler, pay MSRP, and expect a return on your watch except in rare circumstances. The pre-owned market is where a little money can be made.


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## ndrs63 (Dec 30, 2017)

Absolutely not. 


Sent from my iPhone using Tapatalk


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## tmvle5m (Jan 18, 2012)

watches cannot be an investment anymore except Rolex I guess
And even for the Rolex, you might have to spend a lot of time to get one


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## benjomd (Aug 23, 2007)

emotionally... i guess....16 years down the road.... my pams still bring a smile when i look at the time


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## espresso&watches (Feb 14, 2019)

20 replies and the OP has not once returned to the thread....


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