Why does Panerai has terrible resale value VS Omega/IWC?

[TheVision]

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....

[Joearch]

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.

[1William]

Originally Posted by Joearch

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.

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.

[Moving Chicane]

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.

Originally Posted by 1William

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.

[Tzachi]

Originally Posted by Joearch

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.

The newer models are way too inflated in MSRP and has poor VFM and that is before considering the poor secondary market value .

[inadeje]

Originally Posted by Joearch

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.

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”

[subtona]

Originally Posted by Joearch

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.

Solid! Yes

Older base models are fantastic. Great watches at great value.

Anything that says LE should only be purchased at a fire sale.

Originally Posted by brandrea

Panerai has such a unique design language.

Well said Brian. Authentic and historic design that will insure that panerai always has a place… even if they don’t perform in resale

[MILGAUSS88]

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.

[Steve Stifler]

Originally Posted by MILGAUSS88

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.

Ding ding ding. +1!

[Tzachi]

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.

Originally Posted by MILGAUSS88

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.

[subtona]

Originally Posted by MILGAUSS88

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.

Let’s not forget reducing water resistance and adding snap on case backs.

Originally Posted by Trogster

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?

Pie in the sky…
🌌 Become an independent watchmaker again run by a family that values the history over the bottom dollar.

Clarify their brand and mission.

commit to melting down any watch with less than 300m water resistance.

Discontinue most of their models and Reissue the classics as production models.

[321Forever]

Originally Posted by subtona

Let’s not forget reducing water resistance and adding snap on case backs.




Pie in the sky…
🌌 Become an independent watchmaker again run by a family that values the history over the bottom dollar.

Clarify their brand and mission.

commit to melting down any watch with less than 300m water resistance.

Discontinue most of their models and Reissue the classics as production models.

One can dream...

If only these things could happen.

[Trogster]

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?

[Tools]

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.

[Cru Jones]

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.

[brandrea]

Originally Posted by Cru Jones

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.

Panerai has such a unique design language.

[xrole]

Originally Posted by Cru Jones

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.

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.

[brandrea]

Originally Posted by xrole

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.

Oh my, those are not words I would use to describe my friend Cru at all … in fact quite the opposite

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

[Gerry62]

Originally Posted by Cru Jones

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.

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

[Ruud Van Driver]

Originally Posted by Cru Jones

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.

Absolutely spot on, sir

Granny Van D used to say "buy what you love, love what you buy".

[881]

Compared to those two brands it’s no much difference

[Joearch]

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.

[Desibaba]

I don't think people really like gigantic watches right now

[Bubblebobble2]

Originally Posted by Desibaba

I don't think people really like gigantic watches right now

why I’m seeing 40+mm Rolexes/OMEGAs/IWCs flying out the door?

[Manlodan]

Originally Posted by Bubblebobble2

why I’m seeing 40+mm Rolexes/OMEGAs/IWCs flying out the door?

40-42mm watches are big, and 13mm is thick at the top end of that scale. A 44-47mm 15mm thick Panerai is gigantic.

[Cornerwriter]

Originally Posted by Manlodan

40-42mm watches are big, and 13mm is thick at the top end of that scale. A 44-47mm 15mm thick Panerai is gigantic.

This


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[John Deaux]

Originally Posted by Manlodan

40-42mm watches are big, and 13mm is thick at the top end of that scale. A 44-47mm 15mm thick Panerai is gigantic.

I would have agreed with you until I bought a 968. It has been my daily for almost 2 years. It has ruined 40mm watches for me

[Goupax]

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.

[Tri-Tip]

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.

[Fleetlord]

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.