Panerai watches are easy to recognise: big cushion-shaped cases, very legible sandwich dials and, on the Luminor, the bridge that locks the crown. We have 402 Panerai watches in stock, from $1,760 to $131,995. This guide explains the families, the sizes and the PAM numbers.
A short history
Panerai was founded in Florence in 1860 by Giovanni Panerai as a watch shop and workshop. In the 20th century it supplied precision instruments to the Italian Navy, and in the 1930s it developed watches for the navy's frogmen: the Radiomir, named after a radium-based luminous paste, and later the Luminor, named after a safer luminous material, with a lever-locked crown-protecting bridge.
For decades the watches were made only for the military. Panerai launched its first collection for the public in 1993, and the Richemont group bought the brand in 1997. Its large, military-inspired watches helped start the trend for bigger cases at the end of the 1990s.
The collections
Luminor. The best-known Panerai: cushion case with the crown-protecting bridge. Variants include the Luminor Marina with small seconds, the Luminor Due in thinner cases, GMT and chronograph models. In stock: 190, from $2,595.
Radiomir. The older design: cushion case, wire lugs and a simple onion crown, without the bridge. Often dressier and on a strap. In stock: 49, from $3,035.
Submersible. Panerai's professional dive watches, with a rotating diving bezel and high water resistance, in steel, titanium, bronze and composite materials. In stock: 10, plus 4 Submersible QuarantaQuattro (44 mm).
Sizes: 42, 44 or 47 mm
Panerai sizes are the case width without the crown. The cushion shape wears larger than a round watch of the same number.
- 38–40 mm: smaller Luminor and Radiomir models; a good choice for wrists under 17 cm.
- 42 mm: the most versatile size for most wrists.
- 44 mm: the classic Panerai size and the most common in our stock.
- 47 mm: historic-style models with a strong wrist presence.
What Panerai costs
Our prices run from $1,760 to $131,995. New or unworn Panerais start at $4,530 and pre-owned at $1,760. Manual-wind Luminor Marinas are the entry point; GMTs, chronographs, Submersibles in special materials and limited editions cost more.
PAM numbers
Every Panerai has a PAM reference (for example PAM01312). Collectors use it to identify the exact model, case material and dial. Some of the references we stock most:
- PAM00422 — 5 in stock, from $4,970
- PAM01312 — 5 in stock, from $5,720
- PAM00183 — 4 in stock, from $3,035
- PAM01412 — 4 in stock, from $6,425
Luminor or Radiomir?
The Luminor is sportier and more robust because of the crown bridge; the Radiomir is cleaner and more vintage. We compare them in Panerai Luminor vs Radiomir.
What to check on a pre-owned Panerai
- The crown bridge. On a Luminor, the lever should lock firmly and release smoothly.
- Straps. Panerais are usually on leather or rubber; budget for a new strap and check that the original buckle is included.
- Lume. Old tritium dials age to a cream colour, modern Super-LumiNova should glow evenly.
- Bronze cases. They develop a patina by design; it is not damage.
- Papers and service. Ask for the papers and the last service date; see why box and papers matter.
Frequently asked questions
Is Panerai Italian or Swiss?
Both: Panerai began in Florence in 1860 and keeps its Italian identity, but its watches have been made in Neuchâtel, Switzerland, for many years.
What does PAM mean?
It is the prefix of Panerai's reference numbers. Each PAM number identifies one model, case material and dial.
What size Panerai should I buy?
The 42 mm suits most wrists; the 44 mm is the classic Panerai size. Cushion cases wear larger than round watches of the same diameter.
How much is a Panerai?
Our Panerais start at $1,760; the median price in our stock is $6,620.
