Panerai, PAM112 Ref OP6568, Excellent Condition, Box & Papers, Collectable

The luxury Italian watchmaker Panerai began as a humble watch retail and repair facility opened by Giovanni Panerai (1825–97) in Florence in 1860. By the early 20th century, it had established itself as a major supplier of seaworthy timepieces for the Royal Italian Navy — its Radiomir collection, named for the radium-based paint that was patented by Panerai in 1916 and used on its luminous dials, was especially popular for underwater military missions. Panerai watches are visually distinctive, and the brand's statement-making oversize models are a big hit with today's collectors. 

In 1936, the first Radiomir watch powered by Rolex movements was presented to the Royal Italian Navy’s First Submarine Group Command; this design would go on to become one of the brand’s most iconic models with its luminescent numbers and large cushion-shaped steel case. (Panerai’s name, which is well-known to contemporary watch enthusiasts, is now essentially synonymous with behemoths up to 50mm.) Since then, the brand has introduced numerous models inspired by the ocean to meet the Navy's utility needs.

The Mare Nostrum model, which debuted in 1943, was a two-counter chronograph designed for deck officers. The self-illuminating tritium-based material Luminor was patented in 1949 and replaced the radium-backed Radiomir. The Luminor watches of the mid-century era, which also owed to military contracts, featured an innovative crown-protecting bridge. This is now one of Panerai’s oft-heralded design details.

In 1993, Panerai introduced its watches to civilian buyers. That year, the three designs that debuted to the general public — the Luminor, the Luminor Marina and the Mare Nostrum — saw Panerai effectively reimagining its historical models for the luxury market.

The company, which was acquired by the Richemont Group in 1997, continues to innovate, celebrating its 70th anniversary with a water-resistant diving watch with a luminescent dial inspired by French free-diver Guillaume Néry.

Today, Panerai is on the cutting edge of watch sustainability, with the Panerai Ecologico initiative including the almost entirely recycled Submersible eLAB-ID watch and a series of Luminor Marina models composed of a recycled-based steel alloy. Panerai manufactures its high-end, hand-wound watch calibers in a Swiss facility that opened in 2002, combining Swiss technology with its core elements of Italian design and a long, storied connection to the sea.

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