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27 April 2024, 05:26 AM | #1 |
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Why does Panerai has terrible resale value VS Omega/IWC?
I'll take Rolex out of the context here for obvious reasons ;).
But I've owned many Omega/IWC watchs over the years and always sold them for the grey market prices I had paid for...maybe lost like $500 at max. I've been watching the Panerai market (watchfinder and other grey market sellers) and I see price drops all the time as stock just tends to sit there...especially for models with $7K+ prices that virtually never move. I do love the brand and unfortunately, the models I like are all over $7k and hence why I haven't pulled the trigger yet (bi tempo gmt, 8 days gmt/radiomir). I have visited my Panerai AD (same place I bought my sub from) and 10% is max discount they offer on pieces that cost over $10k!!! With Omega/Rolex sitting in the $8k territory, I wonder if people actually buy Panerai at full retail knowing the resale value is perhaps like 50% afterwards...... I guess the general consensus is if ya want Panerai, stick to a pre-owned piece with full box/papers? Don't bother with retail pieces? I love my sub but already getting bored with it and the fact that I can't switch it up with rubber/leather straps easily and this is where Panerai is king (strap monster!). For someone getting into Panerai, what are the best models/series that are worth buying (and some resale value if I dont bond with it in the long run)? Sorry..not bashing the brand but just curious as I remember years back, Panerai was so much hype (like what Rolex is now) but then the brand just slid downwards....
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27 April 2024, 11:33 AM | #2 |
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Simple, buy classic Panerai preowned from a trusted seller. Values for the classics have remained stable or above what they were 10 years ago.
233, 111, 000, 005, 372, 183, 210, 305, 112, 127 and many others. |
27 April 2024, 10:44 PM | #3 |
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This is spot on for advice. I will add that while Panerai does lose a lot of value from retail to the first sale/trade it is known what those prices will be, so buy accordingly. As a long time owner of Panerai, with a breakup in the mid 2010's, I have come to peace with the brand. It is not Rolex/PP/AP, etc. And that is part of the appeal. Just like them for what they are, not what they are not. If I had to go with just one right now it would be my 233 Dot. I have a 992 and a 317 that are great but if just starting out and wanting to cover as much ground as possible the 233 is the one. Good luck and keep us posted.
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28 April 2024, 09:10 AM | #4 | |
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Great response!
FWIW, my 233 dot dial, my third 233 in fact, is my favorite all-round piece. It took me a couple $ loses to realize it. :( Display back, domed crystal, black/dark dial, GMT function, rubber strap, large but not obscene - it ticks all my "dream watch" criteria. If it lost another $4K or gained $4k, I will not care. Quote:
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26 May 2024, 01:49 AM | #5 |
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Great advice
The newer models are way too inflated in MSRP and has poor VFM and that is before considering the poor secondary market value .
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7 October 2024, 01:00 AM | #6 |
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This is correct. Essentially, Panerai lost the plot after these mythical watches were released so they remain the center pieces of the Panerai renaissance prior to the ill management and eternal “limited editions”
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27 April 2024, 11:43 PM | #7 |
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Why does Panerai have terrible resale value?
They shot themselves in the foot. They created too many limited additions, then creating another limited addition that closely resembled the previous limited edition, burning the buyers of the original. Then they took the gun and shot themselves in the other foot with numerous movement scandals. 1 watch with a covered back and a completely raw, unfinished movement. Claiming an in house movement and increasing the price accordingly when they were made by the parent company. Removing the hacking seconds. Pretty much trying cut costs where the shouldn't. |
28 April 2024, 12:05 AM | #8 | |
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Quote:
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10 October 2024, 01:40 AM | #9 | |
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Spot on!
AS a Previous Paneristi with 50+ watches, I'm still a Paneristi, for the classic watch design and the mates. However, the company itself IMO is worse than the Hublot in the eye of Archi Luxury.
Quote:
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28 April 2024, 03:17 AM | #10 |
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What does Panerai have to do to turn things around?
Is it even possible after so many unforced errors? Do they even care about watch enthusiasts anymore.... or are they quickly becoming a fashion brand? |
28 April 2024, 03:39 AM | #11 |
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Resale, or the secondary market, is a supply and demand scenario. If there is demand, prices go up; little demand and prices go down so that they can be actually sold.
Panerai is simply not as popular (in demand) as it once was. Nothing is going to raise resale prices if the demand does not also go up accordingly.
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28 April 2024, 08:31 AM | #12 |
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If you like the watch what does it matter?
Other than Rolex and Patek, watch brands (like cars) lose value (definitely including IWC and Omega ). Each brand will have its exceptions…. In the end, buy what you love. It’s pretty simple. |
29 April 2024, 07:28 PM | #13 | |
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Quote:
Panerai has such a unique design language. |
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1 May 2024, 05:37 PM | #14 |
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You can still love a watch brand AND care about the resale value. To say that money doesn't matter is the height of snobbish arrogance and pretentiousness.
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24 June 2024, 10:43 PM | #15 | |
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Quote:
I don’t mean to put words in his mouth … I guess I’m going to anyway (), but I think what he meant was if you buy the watch because you love it and you don’t plan on selling it, you become less focused on value retention. Put another way, I wonder how may people buy “x brand of watch” and never, ever pay any attention to what its “worth”? I bet there are many. The forums tend to skew our thinking on this topic me thinks. I totally get your point, I do understand that value retention is a thing for many here on the forum. I’m just suggesting that perhaps for “normal” (if there is such a thing) watch buyers, value retention may not factor into a buying decision and they buy “X brand” because they just love the watch |
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18 May 2024, 10:48 PM | #16 | |
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Quote:
A Luminor Bettarini case ref 000 / 005 / 111 / 112 /176 / 177 are my recommendation 5218/201 the first Panerai of the 90s for the civilian market and no longer just the military one
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28 April 2024, 09:40 AM | #17 |
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Compared to those two brands it’s no much difference
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28 April 2024, 11:07 AM | #18 |
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Buy what you like. I don’t give $&@# about the too many special editions or the movement stuff. I just enjoy them on my wrist. Think about the moaning about the current Rolex movement. Love these on the wrist. Mostly under the radar. Never had an issue w quality. All preowned full sets at great prices.
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28 April 2024, 11:24 AM | #19 |
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I don't think people really like gigantic watches right now
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1 May 2024, 04:49 PM | #20 |
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1 May 2024, 05:13 PM | #21 |
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40-42mm watches are big, and 13mm is thick at the top end of that scale. A 44-47mm 15mm thick Panerai is gigantic.
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1 May 2024, 05:39 PM | #22 |
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26 June 2024, 02:51 PM | #23 |
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28 April 2024, 02:21 PM | #24 |
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Market is tough right now for the sellers, you would absolutely take a bath if you were to resell Omega and IWC, even bought second hand. If it is not liquid like Rolex/PP/AP, the dealer is gonna skin you alive or not even bother with an offer unless it's a trade for another non hype brand. Great time to buy on the secondary market if you have cash in hand and motivated to negotiate on slow moving stock.
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29 April 2024, 04:14 AM | #25 |
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When I make a high dollar purchase (watch, car, home), I buy it for the long term, not for it's resale value. I know many use watches and sometimes even cars, as an investment with the intent of future resale.
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29 April 2024, 06:52 PM | #26 |
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It’s no longer a brand to trifle with at retail… respect its cost vs market value.
What I mean by that is you better really love it, because if you get tired of it and want out, you will struggle to do so. |
30 April 2024, 09:32 PM | #27 |
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Panerai were hot like around 2000’s I chased them and bought.
I still like some references however marketing/sales got the better of them big time, like really big time.
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30 April 2024, 09:53 PM | #28 |
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Good opportunity to buy what you like at the bottom of the market. Just be on the lookout for fakes. Panerai hasn’t done themselves any favors in that battle.
I’m on the hunt for a 442 |
1 May 2024, 11:02 AM | #29 |
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I plan on adding a Panerai to my collection. This is a solid advice I would definitely consider.
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2 May 2024, 08:52 AM | #30 |
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Love their watches, but when the company was as hot as a pistol, they shot themselves in the foot with too many repetitive designs that the average Watch Buyer couldn’t tell the difference from one to the other. This went on for years.
When it comes to omega and IWC in terms of resale, their values suck as well. Unless you have a snoopy or few other hot ones, they almost always take a 50% bath when you walk out the door. |
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