Archive for October 8th, 2010

Preowned Luxury Watches: Panerai

Preowned Luxury Watches

Preowned Luxury Watches

Recently, we have been purchasing more and more Panerai preowned luxury watches.  We have always had one or two Panerai watches in our collection for sale, but now we have more.  Because we have been seeing so many my interest in the company has risen.  In the past I have been learning as much as I can about Rolex preowned luxury watches, and now I am switching to Panerai.  Ironically, while doing research about Panerai I found out that Rolex used to make Panerai movements which makes this transition even more intriguing.

Panerai was started in Florence, Italy in 1860 by a gentleman named Giovanni Panerai.  The company’s main focus back then was to make watches for the Royal Italian Navy.  It continued to make watches for the Italian Military for over one hundred years until 1993.  That was when the last watch made for the military.  They started marketing their watches to the general public and were struggling.  It wasn’t until 1995, when Sylvester Stallone bought a number of Panerai Luminor watches in a Panerai store in Rome, that the company started to grow again.

Panerai was bought by Richemont, a Swiss luxury goods company, in 1997.  Other companies of note owned by Richemont are Cartier, Van Cleef, and Piaget.  Richemont’s purchase of Panerai has proven to be a successful move as Panerai only seems to grow in popularity every year.

Most of Panerai watches are made in limited quantities (500, 1000, 2000, or 4000) units.  This creates the illusion that they are limited edition watches.  The problem is there are so many different models of Panerai watches that it discounts the limited quantities made.  However, every year Panerai does come out with their own special edition watches that are in fact limited.

Four major models of Panerai watches are Historic, Contemporary, Manifattura, and the Special Editions.  These four models make up the majority of their watches.  Panerai also has a contract with Ferrari to make watches under their trademark.  They have been partners since 2006 and they are supposed to part ways in 2010.

Panerai has a great history in the world of preowned luxury watches.  Their watches tend to hold value better than a majority of other companies.  They have been incredibly popular within the last couple of years due to the increased demand of wide diameter watches. Their prices in the Contemporary collection range anywhere from $6,000-$25,000.  Panerai is a wonderful preowned luxury watches company who make quality watches and sell to customers all throughout the world.

by, Seth at Raymond Lee Jewelers

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