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#1 |
Banned
Join Date: Feb 2017
Real Name: Michael
Location: NJ
Watch: Panerai 112
Posts: 1,172
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Panerai Submersible - new vs used prices. Not much different.
Hello Panerai Fans -
Been thinking about getting a pre-owned Submersible but I see that pre-owned - beat up used ones with no box or papers are not much cheaper than a spankin' brand new one from the boutique with an 8 year warranty, box, papers and a free hat. Why is this? What is driving used ones to be so highly priced? It's not like they are rare, and getting a new one is very easy. The boutiques are fully stocked and ready to sell to anybody who wants one. Unlike Rolex, there is NO shortage of Panerai Submersible watches. I was considering buying a pre-owned one because I thought that they would have depreciated and I would be getting a bargain. But that doesn't seem to be the case. Usually "supply and demand" dictates market prices, but clearly that is not the case here. There is certainly more supply than demand and still prices are roughly equal for used and new. I basically have no compelling reason to buy a used one. ![]() With that said...the new 'Verde Smeraldo' is very hard to resist. |
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#2 |
2024 Pledge Member
Join Date: Jan 2014
Location: london
Posts: 6,079
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With Richemont buying Watchfinder, it’s allowed them to keep prices artificially high. That is until you try to sell back to them! If you have the head for it a private sale is better value, or as you say get new with all the service.
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#3 |
"TRF" Member
Join Date: Feb 2021
Location: UK
Posts: 593
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#4 |
"TRF" Member
Join Date: Mar 2021
Location: CA
Posts: 469
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Any experience /
thoughts on purchasing from Watchfinder? I ask given the connection — Watchfinder is owned by Richemont, which owns Panerai, and the statement below that accompanies the Panerai watches they list for sale: “This Panerai has undergone a thorough inspection of accuracy, functionality and condition at our Panerai certified service centre to determine the level of reconditioning required to meet our strict standards. It has also been checked against our records to ensure authenticity.” Feel this provides some extra peace of mind when purchasing a preowned Panerai — especially with the “ Panerai certified service” reference?
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Both past and present … Santos de Cartier • Hublot BB • Panerai Luminor • Patek Calatrava • AP Royal Oak • Omega • Hermès • Breitling • Rolex • IWC Schaffhausen • TAG Heuer • Doxa |
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#5 |
Banned
Join Date: Feb 2017
Real Name: Michael
Location: NJ
Watch: Panerai 112
Posts: 1,172
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But that was the contention of my original post - private sales are NOT a better value. They are still asking for almost the same price as buying new. My question is: why?
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#6 | |
Banned
Join Date: Feb 2017
Real Name: Michael
Location: NJ
Watch: Panerai 112
Posts: 1,172
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Quote:
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#7 |
"TRF" Member
Join Date: Jan 2021
Location: USA
Posts: 135
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This goes to the real resale value of Panerai, which for many models is very high.
For 5% difference I would buy new. |
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#8 |
"TRF" Member
Join Date: Oct 2021
Location: UK
Posts: 877
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There are some PAM683 available in the UK for £3500 discount.
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#9 |
Banned
Join Date: Feb 2017
Real Name: Michael
Location: NJ
Watch: Panerai 112
Posts: 1,172
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What I am not understanding is why isn't 'supply & demand' working here. There is plenty of supply and not enough demand, so shouldn't used Panerai's sell cheap?
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#10 | |
"TRF" Member
Join Date: Apr 2010
Location: South Carolina
Watch: Panerai 914
Posts: 6,540
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Quote:
It's become fun to bash Panerai for a variety of reasons, some legitimate and some not, but some models still do hold their value. Others, of course, do not and can be had for a great discount. Panerai is very model specific and you can't always believe what the "Paneristi" say because they are a very small niche group. |
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#11 |
"TRF" Member
Join Date: Jan 2021
Location: USA
Posts: 135
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To the OP, items go in and out stock. Sometimes the grey has it only and may attract higher prices. Some sellers are chancing that hope someone will not know retail/availability and buy at a heigh price.
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#12 |
2024 Pledge Member
Join Date: Jan 2017
Location: USA
Watch: Yes
Posts: 1,497
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I feel the same way about all watch prices right now. It feels like a high tide has risen all ships. I'd love to pick up a pre-owned watch at a steal but I feel that has gone away for the time. I'm holding out for those opportunities. That's how the watch market use to be. There were a small handful of highly desirable models across all watch brands which traded at strong prices. Now that effect has expanded significantly. Hang in there. Things come in cycles. Not everyone can afford to spend 10's of thousands extra for a watch.
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#13 | |
Banned
Join Date: Feb 2017
Real Name: Michael
Location: NJ
Watch: Panerai 112
Posts: 1,172
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Quote:
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#14 | |
Banned
Join Date: Feb 2017
Real Name: Michael
Location: NJ
Watch: Panerai 112
Posts: 1,172
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Quote:
I own a Panerai, so I am happy to see they are holding their value very well. I just don't understand how? |
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#15 |
"TRF" Member
Join Date: Feb 2009
Real Name: Bert
Location: philippines
Watch: 116710 ln
Posts: 3,468
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i dont know where you are checking your prices but i have been buying and selling pams and there are very much depreciated. very affordable even for previously hot models.
besides the old models are of much higher quality than the new models. |
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#16 | |
Member
Join Date: Oct 2016
Real Name: Michael
Location: Melbourne, Aust
Watch: Polar 16570
Posts: 1,185
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Quote:
Maybe in your neck of the woods that's the case but here in Melbourne, Australia they are not readily available in AD'S but wait times are negligible. As for prices though, there is Littles difference between new and used. And buying from OS is not an option because of import duties. Sent from my iPhone using Tapatalk Pro |
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#17 |
"TRF" Member
Join Date: Apr 2010
Location: South Carolina
Watch: Panerai 914
Posts: 6,540
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Supply and demand is working just fine. I have clients that are watch dealers. I know what I am talking about. My point was that there aren't a lot of discounts because there is a demand. People love to come on these forums and act like nobody is buying Panerai. They are selling more watches than they ever have. Its just not hardcore watch people who jump on a watch forum and talk about their watch.
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#18 |
Banned
Join Date: Feb 2017
Real Name: Michael
Location: NJ
Watch: Panerai 112
Posts: 1,172
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Please post the link to the sellers who are selling them for a depreciated asking price.
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#19 | |
Banned
Join Date: Feb 2017
Real Name: Michael
Location: NJ
Watch: Panerai 112
Posts: 1,172
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Quote:
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#20 |
"TRF" Member
Join Date: Dec 2007
Location: Earth
Watch: Rolex/Tudor/PAM
Posts: 1,219
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I think most of these Youtube 'watch experts/enthusiasts' put their content out bashing Panerai because it seems to be the 'in-thing' to do and they know it will generate views. It's also extremely easy and fairly lazy to simply repeat the messages that they hear on other channels/sources.
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#21 |
2024 ROLEX SUBMARINER 41 Pledge Member
Join Date: Aug 2015
Location: FL
Posts: 435
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Panerai lost its insane hype from the mid-late 2000's, but there is certainly still a demand; it's just not nearly as wild as back then, when they were more hyped than Rolex.
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#22 | |
"TRF" Member
Join Date: Jan 2021
Location: Australia
Watch: Panerai PAM687
Posts: 762
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Quote:
https://www.chrono24.com/panerai/pan...id19919185.htm $10,948aud Australian Retail- $12,700aud https://www.chrono24.com/panerai/pan...id15868543.htm $17,224aud Australian Retail- $20,100 Both listings new/unworn If you want to go into VGC, theres tons more with at better prices I picked my PAM311 up in New Condition for a little under $14k Aus Retail was close to $25k when i bought it a year ago |
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#23 | |
"TRF" Member
Join Date: May 2014
Location: detroit
Posts: 532
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Quote:
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#24 |
"TRF" Member
Join Date: Jan 2021
Location: Australia
Watch: Panerai PAM687
Posts: 762
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https://www.chrono24.com/panerai/pan...id23137646.htm - $13,450au
Aus Retail- $15,600au https://www.chrono24.com/panerai/pan...id22408847.htm - $26,195au Aus Retail- $29,600 Again, BNIB |
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#25 | |
Banned
Join Date: Feb 2017
Real Name: Michael
Location: NJ
Watch: Panerai 112
Posts: 1,172
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Quote:
https://www.panerai.com/us/en/collec...bmersible.html |
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#26 | |
"TRF" Member
Join Date: May 2014
Location: detroit
Posts: 532
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#27 | |
"TRF" Member
Join Date: May 2014
Location: detroit
Posts: 532
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#28 | |
"TRF" Member
Join Date: Jan 2021
Location: Australia
Watch: Panerai PAM687
Posts: 762
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Quote:
As many have said, its very model specific, but if you're asking a broad question, I provided a broad answer I can find a number of used subs that are 10%-30% cheaper than their original retail, but then that brings up an apples to apples argument due to completeness of the set, condition and age Of course something that is old and BTS is going to be cheaper than something brand new, instead i drew attention to the fact you can find BNIB models selling privately for 10%-15% under retail (the original number someone threw out was 5%) |
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#29 | |
"TRF" Member
Join Date: May 2014
Location: detroit
Posts: 532
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Quote:
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#30 |
2024 Pledge Member
Join Date: Dec 2010
Location: New York
Posts: 296
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OP, you are trying to paint a picture here with one brush.... You are way off on many of your arguments. To sit here and speak about the panerai "used market" without specific model references, is just kinda foolish and pointless. Different references vary in their production numbers each year, some are limited Editions, some are special editions, some are produced annually, some are produced one time.
Boutiques do not discount, that's first and foremost, unless you have a long buying history and even then, a discount is rare. Boutiques also now ALL charge sales tax. So don't forget to figure that in on your new piece. The 8 year warranties are all transferable, a point that should be made. So if you find a used piece you like, with the 8 year, it will transfer, regardless of private sale or from a reputable watch reseller website. A lot of luxury goods are up in value considerably right now, across the board....the used panerai market is no different. I can site specific pieces that i looked at a year or more ago, that are now selling for 10-15% more than when i looked at them. The demand IS there and the supply is the same or lesser. To really discuss this, why don't you site some specific models you're interested in, that would be a more relevant discussion.
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