Panerai is one of those luxury brands that, unlike certain other watch companies, pays due diligence to movement, fit and finish, over marketing. Not to say that Panerai is not popular; just the opposite. Panerai’s tendency to gravitate towards simple designs is its appeal; a watch that could be too large for many, but not ostentatious. Chosen proportionally, Panerai creates a statement that is definitely “there”, but never obnoxious.
The PAM111 is a traditional Luminor design, featuring the flip-top crown (a trademarked feature), slightly domed crystal, and highly polished case. Featured in the package is a beautiful pearwood presentation case, second strap, and in a nice touch, a tool to easily swap them. This is significant, as Panerai has spawned en entire “strap culture”, in part due to the timeless design that lends itself to a completely different personality with a simple strap swap. Limited in production, the 111 is one of only 2,500 made in 2009. Panerai does this with all models, in part to keep demand high; equally to ensure quality. Panerai is one of the few pieces in its price range (this model comes in around $5,600) to increase in value over time. This is in part due to the limited production, but it’s also due to the fact that Panerais sell out quickly in most dealers within a few days of arrival. Some owners of the brand use it as an investment for this reason. It is more common than not for a watch in the range to re-sell at equal to or higher than retail.
In terms of wrist presence, the PAM111 is a perfect combination of size and stability. The case design lends itself to sitting “high” on the arm, but unless the wearer has 6″ wrists, stability is not a factor at 44mm. The finish of the case is as flawless as one could expect in a piece within this range. The crystal is a slightly-domed affair that, at 3 1/2mm thick, is extremely tough. Made of Corundum, the crystal blends beautifully into the form of the case, and the anti-reflection coating at times fools the wearer into believing there is no crystal at all. The face is a matte black; hands also black, but slightly glossier. This fits with the tradition of having an extremely understated aesthetic which screams luxe, but is never “blingy.” The indicators are large and impressively lumed for low light visibility. The trademarked crown guard is brushed, offering wonderful contrast to the highly-polished case. The lever on the guard must be flipped down to wind, and each time, it never feels loose or cheap. Panerai pays attention to small details, and the crown guard’s attention is a perfect way to get owners of these pieces to feel as though they’re “involved” with the object. Much like high-end turntable owners feel when swapping a cartridge or calibrating arm weight, this interaction creates a connection with the owner; despite the fine-tuned movement inside, the piece still requires a little human interaction to complete its task.
Panerai prides itself on its history. Although Giovanni Panerai founded the company in 1860, the brand was most famously commissioned by the Italian Navy during the Second World War. Designed from a functionality perspective first, Panerai farmed out its movements to Rolex, while focusing on dial legibility and overall durability. Panerai took over manufacturing of their own pieces around the early 90s, and handed off operations from their base in Florence to the Swiss Richemont group later in the decade. Since then, Panerai either modifies stock ETA movements, or most recently, builds their own. The PAM111 utilizes the former, a heavily modified ETA 6497 (which Panerai dubs the OP XI), with power reserve in the 56 hour range. Skeptics point to heritage tales as marketing-based vendor stories, designed to stir the imaginations (and wallets) of those that want to wear something other than a pretty watch. Many however find that more beat-up the strap (and the older the watch itself), the more appeal is in play. This points to the very reason that Panerai limits its manufacturing; the more scarce the model, the better in the eyes of the average Paneristi. Although perceived as a “big watch” company, Panerai makes watches anywhere from 40mm up to 60mm for the limited-edition Egiziano. Most fall in the 44-45mm range, which wears smaller than suggested.
Panerai offers one of the most sought-after lines in history. Even those not drawn to trendy watches appreciate that the design has actually been around for nearly 70 years, and is unlikely to look dated at any point. Simplicity in design is always timeless, and when combined with the PAM111’s tuned internals, appeals to the watch enthusiast and the fashion-conscious equally.
