65% Off A Panerai for Ferrari Gran Turismo Rattrapante Chronograph, Anyone?

The end of the fabled Panerai / Ferrari watch partnership was announced last week by watch industry omniscient Gregory Pons (Business Montres).  The announcement was also picked up echoed very shortly therafter by watch blogger Areil Adams over at Luxist (for those of you who prefer English).  While the reasons for the possibility that this partnership was doomed from day 1 are perhaps obvious and fully appreciated, I think that there is yet one unanswered question.  That is, what will happen to the future value of these watches now that their status is officially “post-production”?  Will their value increase or decrease?  Will they one day – perhaps one year from now, perhaps ten – ultimately become items of great value?  Or dusty relics of another luxury marketing partnership gone south? I tend to think the latter is the case, and that these watches have seen their high watermark when it comes to the price.

Case in point: just today I happened upon a “small number of Panerai for Ferrari Gran Turismo Rattrapante Chronographs…available…for a very limited time at a very special price.”

FER 005, Brand New Never Worn, Offered at $4,995

In fact, at the offered price of $4,995, these watches – the bearing the FER 005 reference number – are fetching just under 35% of their original retail price.  Put another way, they are over 65% off.  This represents a significant discount to the current asking prices for these watches on the ‘Net grey market.  It is even way below what some individuals are asking for a used FER 005’s.  While this is most likely very unfortunate if you are a seller or holding inventory of these watches, it is for you as a buyer a chance to own a high quality Panerai watch with Ferrari logo at a phenomenal price.

If you are interested in the dealer who is offering Ferrari Gran Turismo Rattrapante Chronograph watches at 65% off retail, send me an email or ping me on Twitter and I’ll tell you.  And in case you wonder, I have no relationship or financial interest in helping to sell these watches, I merely use them to make my broader point…..

which is that the dissolution of the Panerai / Ferrari partnership and the unheard of liquidation sale for the FER005 is NOT merely a coincidence!  And although this is merely a sample size of one, I think it portends a very soft market for the Panerai Ferrari watches for many years to come.

What is your opinion on these watches and their future value?

Still sifting through the massive onslaught of new watches from SIHH 2010…fun, fun…here is one more Panerai that caught my eye - the Panerai Luminor 1950 Ceramic (aka PAM 335).  More than just catching my eye (which can be a good or a bad thing, you know ), this watch has the signature Panerai look, it is in ceramic, with Panerai in-house movement (P.2003) with 10 days power reserve, and with useful functions (ie GMT and date function).  Basically – this is my kind of watch!  And….an estimated $20,000 per, I think I’ll take two   

Seriously though, I think this watch is something I could proudly and comfortably wear – unlike the 52mm Mare Nostrum PAM 300 (way too big), or the Radiomir Skeleton PAM 348 (looks cool and has ceramic case, but too edgy of a “Panerai” for me), or the Luminor 1950 Tourbillon Equation of Time titanium PAM 365 (if I get an EOT it would probably be an Audemars Piguet).  Now, if only I could do something about that price tag…

So, what do you think of this watch?  Yay…or nay? 

By the way, if you have not already, you can see all the 2010 Panerai collection here on our SIHH forum.

OK last Panerai I wanted to throw up here for now as it looks to be impressive – just a bit of a teaser pic, but this is the Panerai Luminor 1950 Tourbillon Equation of Time Titanium also known as PAM365.  The watch is in 50mm titanium case with the equation of time complication – all of which means it is not cheap – about $220,000.

Stay tuned for more information and other new 2010 Panerai’s here in the SIHH 2010 forum.

Radiomir Composite® Marina Militare 8 Giorni – 47 mm (PAM00339)

Another interesting new one from Panerai, the PAM 339. This one is turning out to be THE hot watch from Panerai for 2010, because of its unique look largely from its “composite” case material (read about it below).  The PAM339 has a 47mm case and Panerai’s P.2002 caliber in it.  It will be priced at about $15,000 USD.  Full specs are posted below the high-res photos.  I like the look!  You can see the rest of the 2010 Panerai’s here.  Here’s the watch including some great close up photos:

The new Radiomir Composite® Marina Militare 8 Giorni – 47 mm introduces itself by showing the two most authentic sides of Officine Panerai: state-of-the-art technological innovation and a deep-rooted history.

The material used for the case is truly innovative in the field of fine watch-making: the Panerai composite is a material whose features and performance are exceptional, being practically immutable over time. The result of an electrochemical process of ceramization of the aluminium, this material is harder than the ceramics normally used for cases in watch-making (zirconia), and also harder than metals like steel and titanium, as well as being lighter. Thanks to its qualities of ductility and reliability, the Panerai composite allows for complex and extremely precise workings and is the result of processes that, up to now, were employed in the creation of components for the aeronautic industry and for car and motorcycle races requiring the highest levels of performance.

From the aesthetic viewpoint, the Radiomir Composite® Marina Militare 8 Giorni – 47 mm has a mono-colour look: the matt, deep brown of the 47mm Radiomir case and of the crown are in tune with the brown of the dial and strap in vintage leather. The stitching of the strap is a reminder of the ecru colour of the Super-LumiNova® on the hands and the other elements of the ‘sandwich’ dial: indexes and numerals, small-seconds dial at 9 o’clock, the RADIOMIR COMPOSITE MARINA MILITARE 8 GIORNI – 47 MM
words Marina Militare and Panerai and the second dial with the inscription 8 giorni brevettato, deriving directly from the historic models.

The movement of the new Radiomir Composite® Marina Militare 8 Giorni – 47 mm is the P.2002/7 Calibre, entirely developed and built by Officine Panerai. Hand wound and with a 13 ¾ lignes diameter, the movement is made up of 191 components and has three barrels ensuring a long power reserve of around 8 days, a traditional feature of Panerai watches since the 1940s.

The Radiomir Composite® Marina Militare 8 Giorni – 47 mm (PAM00339) is a special edition of 1000 watches that pays homage to the historic link with the Italian Navy, to which Panerai was a specialised supplier. This is not the first watch Officine Panerai has dedicated to this alliance. Indeed, in the past it created special limited editions like the Luminor Marina Militare in 1998 and the Panerai Luminor Marina Militare in 2005. The trademark Super-LumiNova® is not the property of Officine Panerai.

TECHNICAL SPECIFICATIONS

Movement: Hand-wound mechanical, Panerai P.2002/7 calibre, executed entirely by Panerai, 13 ¾ lignes, 6.6 mm, 21 jewels, Glucydur® balance, 28,800 alternations/ hour. KIF Parechoc® anti-shock device. Power reserve 8days, three barrels. 191 components.
Functions: Hours, minutes, small seconds.
Case: Diameter 47 mm, brown Panerai composite material, with removable wire loop strap attachments (patented). Winding crown personalized Panerai.
Bezel: Panerai composite material.
Back: Panerai composite material.
Dial: Brown with luminous Arabic and Roman numerals and hour markers. Small seconds at 9 o’clock. Crystal: Sapphire, formed of corundum, 1.9 mm thick. Anti-reflective coating. Water-resistance: 10 bar (100 metres).
Strap: PANERAI personalised leather strap and large size brown Panerai composite material.
Reference: PAM00339

The trademarks Glucydur®, KIF Parechoc® and Incabloc® are not the property of Officine Panerai.

This is another one from Panerai that caught my eye because it is so NOT a Panerai – or at least a Panerai as I’ve known them for all these years.  Sure to be some mixed reactions to this one from the Paneristi, particularly as this one may be selling for more than $150,000 US – but I like Panerai for pushing the envelope a bit this year.  This watch is also “Panerai sized” at 48mm case.

Again you can see all the new 2010 Panerai models here on Perpetuelle’s Official SIHH 2010 forum.  There are definitely some lookers in there!  I may post 1-2 more that caught me eye here on the blog.  Will be back with specs, too!

See all the new 2010 Panerai models here (well not quite all yet but many of them)

This is one of Panerai’s annual “Special Editions”, the “Mare Nostrum”.  The case is a whopping 52mm – far, far too big for most.  Price is about $36,000 UDS.  This is a reissue of the Panerai Radiomir Mare Nostrum that was first introduced in 1943.

Here’s another new one that will be officially unveiled by Panerai next week – the Panerai Luminor 1950 Chrono Monopulsante 8 Days Oro Rosa, or PAM 344 for all you Paneristi out there who prefer ref no.’s.  This watch has a 44mm pink gold case and inside it has Panerai’s in-house P.2004 Caliber in it, a hand-wound movement.   It will be limited production of just 150 pieces.  Panerai is proud of the fact that this watch not only has an 8 ‐ days power reserve mechanical movement, “but is also a technically accurate single push ‐ piece chronograph” – a challenge that only a few brands have taken on, Panerai notes.  I like the more traditional “circular” design of the power reserve meter on this watch, as opposed to the horizontal meter Panerai uses on some of its other models.

If you missed my preview of the PAM 336, also in rose gold, check it out here – SIHH 2010: A Thinner, Smaller, Sleeker….Panerai?

UPDATE:  You can see all the new 2010 Panerai models HERE on Perpetuelle.com’s Official SIHH 2010 Forum

Yes, watch fans it is true – a thinner, smaller, sleeker Panerai is scheduled to be born in 2010.

As I alluded to in my last post, 2010 may very well be the year of the small watch.  And I say “small” in the most relative of senses and as I am silently laughing to myself.  Perhaps “not as large” would be a better descriptor -  especially when we are talking about a brand such as Panerai.  If you did not know, Panerai was perhaps the initiator of the “big watch” trend when CEO Angelo Bonati presented what was at the time a collection of strikingly oversize watches…way back when….at SIHH 1998!   And it was just last year that Panerai’s big watch ambitions were running strong as it released the limited edition Panerai Radiomir Egiziano – a watch that clocked in at a whopping 60mm (see it here)!!!  But for SIHH 2010 we learn that Panerai – no longer just a “brand” as it was in 1998 but now a “manufacture” – will be moving in the other direction – thinner, smaller, sleeker.  And with the help of a new movement, the Panerai Caliber P.999.   Believe it!

So is the watch brand that started the big watch craze going to end it?  Don’t hold your breath.  However, First In Watches believes that this is a masterful move for Panerai.  If you thought Panerai was “the” watch to own before, just wait until after this year’s SIHH!  So here’s the watch, and some details on the new P.999 movement follow:

Panerai Radiomir P.999 42mm Pink Gold (PAM 336)

Limited Production of 500 pieces

The new Panerai P.999 manufacture movement – thickness of only 3.4 millimeters, individually numbered, a whopping 60-hour power reserve, and a swan neck regulator (a nice touch, I might add!):

Source: Panerai.

Did Bill Clinton Wear A Panerai to Meet with North Korea’s Kim Jong Il?

As you know the primary interest here at First In Watches is, well, watches And after this, well, I guess expensive and exotic cars.  Politics?  Mmm, nope – it’s not on the First In Watches interest list, so please pardon (or thank) us for the complete lack of commentary on the obvious gravitas of the topic at hand – we’ll stick with what we know best

At present it remains uncertain which watch former United States President Bill Clinton wore in his actual meeting with North Korean Dictator Kim Jong Il earlier this week.  However, press photos of Bill Clinton celebrating the return of the 2 captured US journalists reveal Clinton wearing a Panerai – ostensibly of the Luminor collection; specific model unknown.  Presumably the photo you see below was taken shortly after Clinton’s return from his successful humanitarian mission to North Korea this past Wednesday.  First In Watches shares with you here the most defining photo of Clinton and his Panerai, as he is pictured here with Current TV co-founders Al Gore and Joel Hyatt (Current TV is the employer of the 2 captured journalists):

Are they looking at Bill’s Panerai?

Photo: Reuters.

While First In Watches has been unable to timestamp the photo you see above, I think it unlikely that Clinton, amidst all the media attention, would have had the opportunity to change watches upon his arrival in the U.S. – unless of course he was travelling with more than one of his many fine watches.

However, knowing the watch aficionado and well-cultured man that Bill Clinton is, First In Watches is also a bit surprised that a watch as bold as a Panerai would be this Statesman’s choice of watches for such a mission.  Perhaps a low profile Patek Philippe or Piaget would have been more appropriate?  Then again, maybe it’s all about putting on your best “watch bravado” when you sit down with one of world’s most notorious dictators!  Anyway – mission accomplished!

By the way, anyone care to proffer a guess at the particular model Clinton is shown wearing above?

Drug Lords Like Hublot, DeWitt, Cartier – or Anything Diamond Bezeled and Ostentatious!

The Wall Street Journal reporter John Lyons ran an interesting story last week about the odd items seized by Mexican authorities from drug lords.  Of course my interest here is the watches, and I found this picture of a tray of seized watches rather fascinating – unless I am mistaken (which is entirely possible!), there looks to be 2 Hublot Big Bangs, a DeWitt, a Cartier, a Breitling, a Corum Golden Bridge, a Panerai for Ferrari, and a  Jacob & Co. in that tray, among others!  Read the entire curious article here, and watch the video here, or see a slideshow here (all part of the WSJ story).  CRAZY!

Feel free to weigh-in with a comment if you can identify any more of the watches.

Photo credit John Lyons/The Wall Street Journal.