Panerai Submersible - new vs used prices. Not much different.

[michaelodonnell123]

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.