Talk me into, or out of, a Panerai Radiomir 1940 GMT please

Last April whilst away in the motorhome we were mooching around either Berwick or Durham, I forget which, when we came across a branch of Ramsdens. In the window was a Pam 658 Radiomir 1940 GMT. Wife says “ that’s a lovely looking watch”. Normally doesn’t comment. I did nothing about it and we carried on.

I keep going back to the website and it’s still there nearly 12 months on, still at £5699 reduced from £5999. Makes me think it’s too expensive or there’s something wrong with it.

I am on the list for a Rolex GMT which I believe I’ve a better chance of getting a unicorn first so am looking elsewhere.

Having done a load more looking and researching I’ve discovered there are several variations of the theme. Pam 627 and 628 with Clous de Paris hob nail finish dials whilst 657 and 658 have Vertical Stripes finish. Odd number variant has a power reserve complication on the back of the movement, even number it’s on the dial. I can’t make my mind up on if I like the additional clutter in full view or not.

In Watchfinders recent sale they had a few examples at 35% off bringing them to around £4500 of their normal selling price for a 2020 model. I believe these were over £10k new at rrp. That’s a big chunk of depreciation.

Then there’s the 945 with its blue sandwich dial. Which on the net looks really pretty.

I looked at the Luminor 1361 Bi Tempo last summer but I didn’t want to spend thick end of £9k on it.

Panerai is not completely new to me, I do own a Radiomir 609, although I don’t actually wear it very often.

So where I am up to. I’ve never tried one on or handled one in the metal. I do like the 1940 case shape more than a Luminor. I like the 12 hour GMT function and I can hide the GMT hand behind the hour hand if I want. I also like the second hand resets to 12 o’clock position when hacking.

Should I be worried about the poor residual value if I buy one and don’t actually bond with it? Is the in-house movement any good? Is it wrong to worry about the example at Ramsdens still being on sale 11 months on?

Interested to hear opinions of owners or enthusiasts that are better clued up than I am. Thanks

I lusted after a Panerai for over 20 years.

And then I finally got a Panerai Luminor Marina PAM00005.

I had it for a few months, it was very nice, I liked it.

But I couldn't help the creeping feeling that I was disappointed.

It's probably my fault, I mean how can anything live up to 20 years of expectation?

Anyway...

...I went back to the folk I bought it from, asking how much they'd give me in p/x for it against another watch.

Imagine my shock when they told me they weren't interested in having the watch back in P/X.

This was about 18 months ago.

I'd give a Panerai a miss.

Just my 2 pennies worth.

I've just Googled it, certainly not the worst Panerai I've ever seen, but..... HOW MUCH!

The in-house movement isn’t a problem. I’ve had quite a few without any issues. Anything first registered after 2018 will be covered under the 8 year Pam guard extended warranty so you have piece of mind there.

I also wouldn’t be worried that a dealer has had the same watch for 11 months. This is just due to the size of the market that Panerai sit in. BQ watches have just sold a 570 on consignment and they had it listed for over 18 months. I know because I watched it on eBay for that long. That’s a 1940’s GMT as well.

Of the references you’ve quoted the depreciation is already lost and you are just left with the dealers margin so personally think that’s what you will lose if you wanted to sell. They’ll be working on 20% margin, give or take.

Now regarding selling. It’s my experience that you need to use a dealer that specialises in the brand. He’ll understand the market a lot better than a dealer that doesn’t. I’ve used Will Wiseman for both buying, trading and selling and can recommend him.

Buy the one you like at the price you are happy to pay.

Bear in mind 1940’s rads wear smaller than you might think. This is due to a flat case back and tappered lugs.


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Ugly watch - very few Panerais are good looking.

On the plus side - it ain't the worst looking Panerai.

So many great looking GMTs, and if you want authenticity of the history - Rolex or Glycine........ IMO

I think Panerai make some lovely watches, and I’ve gone from never experiencing them to being happy with 3, a Luminor, a Rad and a Sub in the last year.

Having said that, I think their core is simple watches, my Rad and Luminor are 2 hander.

The King of Panerai GMT has to be the 233, although as great as it is, I’m not sure it’s the essence of the brand.

I don’t worry about residuals at all, but I’m pretty confident two won’t ever get sold, and the third has a good chance of staying for the long term.

I would second Will Wiseman as a very reputable Panerai specialist dealer, and his prices are very fair.

D


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I quite like the simplicity of the panerai , I had a couple of the 44mm years ago and I did like them at the time but prefer a smaller size now and the pam 392 I have now is perfect for me at 42mm classic layout with sandwich dial
I think at 42mm its still a biggish watch without being overly so, anything under I don’t feel is true to panerai style

I would love to add a 42mm submersible at some point

I bought a PAM321 last year it ticked all the panerai boxes for me. When I first got it I was pretty underwhelmed but after a week or so it became my go to watch. I’ve probably worn it most often over the past year.
There’s just something about it that feels right. It’s odd.

If it’s a Panerai GMT then it has to be the 098 GMT alarm, one of my big regrets is letting that one go


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Thanks for the feedback so far, much appreciated.

I’m specifically looking at Radiomir 1940 not traditional Rad, got one already, or Luminor - not a fan of the tank like case.

Interesting the notes on them wearing smaller than the size suggests. I guess I really should try to find a dealer that has one and go look properly. Berry’s have a 657 in stock just not sure where, hopefully Nottingham. I’ll have to make some enquiries. But it would only be to have a look.


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Originally Posted by NigeG

Thanks for the feedback so far, much appreciated.

I’m specifically looking at Radiomir 1940 not traditional Rad, got one already, or Luminor - not a fan of the tank like case.

Interesting the notes on them wearing smaller than the size suggests. I guess I really should try to find a dealer that has one and go look properly. Berry’s have a 657 in stock just not sure where, hopefully Nottingham. I’ll have to make some enquiries. But it would only be to have a look.


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I was in Berry’s in Nottingham about a month ago. They had a 515 which was reduced to £15k. They’ve had that for more than two years. I know because I’ve tried it on twice.

I don’t remember seeing a 657 but I wasn’t really looking either.

I’m not sure what the reference is next to 515 but it could be a 572 that is 45mm.

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I'm generally a fan of Panerai watches. But they've jacked up their prices so much since COVID.. nice looking watch though

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Originally Posted by jsong6688

I'm generally a fan of Panerai watches. But they've jacked up their prices so much since COVID.. nice looking watch though

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They have indeed. I just don’t see the value in some of their pieces at the prices they are now.


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Originally Posted by jsong6688

I'm generally a fan of Panerai watches. But they've jacked up their prices so much since COVID.. nice looking watch though

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Add Omega and a couple of others to the list.