Accompanied by Panerai box, manual, case protector, an additional hand-set, unused Panerai strap with C-type buckle of titanium, hangtag, COSC certificate from 1998, purchase receipt and warranty card from 2001, service receipt from Panerai London 2020 and certificate from Panerai Firenze 1998. The B-series, of which this watch is from, was officially launched in 1999.

Limited edition. This watch bears no. 179/200.

To watch collectors, there is quite a difference between Panerai before and after they were acquired by Vendôme (now Richemont). The early models are much more sought after for various reasons. Firstly, the quantities of the different models are much smaller. Some were made in less than 100 examples, and few were made in more than 1000 examples. Secondly, the design language was more utilitarian, simple and military-inspired. This speaks directly to their heritage and connection with the Italian frogmen in the 1940s. Lastly, the quality is simply better. This does however not mean that newer Panerai watches are not interesting – they are just different and thus speak to a different clientele.

We are happy to offer four Panerai watches on this auction – one pre-Vendôme watch and three newer ones – one of which is made just after the acquisition. The most interesting of the four is the earliest one. The Marina Militare from approx. 1993–94 is as Panerai as it gets. This particular one, the ref. 5218–202/A, was made in just 140 examples and features a no-fuzz dial layout with tritium hour markers and hands. Moreover, it features a manually wound movement and water resistance to 300 metres.

The Marina Militare ref. PAM 36B in titanium was sold in 1998 – just one year after Panerai was sold. When compared to the one in steel discussed above, this watch is different in a few ways. It features a clear caseback, allowing the owner to inspect the movement. Secondly, it has a second hand at the 9 o’clock position on the dial. What is really interesting about this piece is the amount of accessories that comes with the watch: box, manual, an additional hand-set, extra strap, COSC certificate, Panerai certificate, warranty card and service papers from Panerai 2020. Moreover, the watch was made in a limited series of just 200 pieces, with this exact one being no. 179/200.