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.

[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!

[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.

[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.

[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

[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.

[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.

[Moondoggy]

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.

[John Ryan]

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

[psifox]

I plan on adding a Panerai to my collection. This is a solid advice I would definitely consider.

[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.

[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.

[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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[JenaG]

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.

[rolexjackson]

Originally Posted by JenaG

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.

You are not wrong here, buy what you love then it doesn’t matter. If you are buying new always get a discount and you are wise to find it on the secondary used.


Life is short, buy the watch.

[TheVision]

Thanks fellas! Bought a box/'23 papers bi tempo gmt from a reseller after I made this thread...was able to negotiage it down to $7k which I thought was a fair price since my AD has this in stock but only offering 10% max discount (and taxes on top!).

Will post pictures later..now off to find straps...lol. This will push my sub to the backseat for most summer since I love leather/rubber straps.

[funkright]

Originally Posted by TheVision

Thanks fellas! Bought a box/'23 papers bi tempo gmt from a reseller after I made this thread...was able to negotiage it down to $7k which I thought was a fair price since my AD has this in stock but only offering 10% max discount (and taxes on top!).

Will post pictures later..now off to find straps...lol. This will push my sub to the backseat for most summer since I love leather/rubber straps.

Yes after I picked up my PAM627, and proceeded to buy WAY WAY too many straps, my 116710LN often sits alone in the watch box

Enjoy your new watch

[2000-NJDEVILS]

To the OP -
For seriously competitive watch collectors, Panarai is not even a consideration for many reasons. I will give you five of them:
A - Lack of pedigree
B - Lack of an In-House movement
C - Blatant Use of lower echelon, cheap, non- Chronometer grade ebauche’s
D - No refinement on the design of the dial ( not exactly an AP dial)
E - Stallone himself (He who single-handedly made Panarai into a very big brand) no longer is seen wearing any Panarai
Therefore no demand on the secondary market for a $300 watch that MSRPed for $8500 (and is now languishing in EBAY stores) other than younger, uninformed buyers….
Good Luck!

[Saoirse32]

Originally Posted by 2000-NJDEVILS

To the OP -
For seriously competitive watch collectors, Panarai is not even a consideration for many reasons. I will give you five of them:
A - Lack of pedigree
B - Lack of an In-House movement
C - Blatant Use of lower echelon, cheap, non- Chronometer grade ebauche’s
D - No refinement on the design of the dial ( not exactly an AP dial)
E - Stallone himself (He who single-handedly made Panarai into a very big brand) no longer is seen wearing any Panarai
Therefore no demand on the secondary market for a $300 watch that MSRPed for $8500 (and is now languishing in EBAY stores) other than younger, uninformed buyers….
Good Luck!

I would say there is plenty to pick on with Panerai, as is with other brands, but your 5 points really miss the mark here…


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[rmwill]

Omega holding value? Thats a funny one!