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Panerai - Radiomir 1940 Tourbillon GMT Oro Rosso - 48mm
In honour of its own Florentine origins, Panerai has for many years been promoting the genius of Galileo Galilei as a tribute to the great Tuscan scientist who, by formulating the law of isochronism of the small oscillations of the pendulum, revolutionised the history of time measurement. Thanks to the sponsorship of Panerai, in 2012 the Museo Galileo in Florence created a section where period exhibits and interactive multimedia devices illustrate Galileo's decisive contribution to the history of time measurement. At the same time, Panerai created a range of exclusive timepieces of the highest quality named "Lo Scienziato", which are a 16 tribute to the memory and fundamental legacy of the great physicist, philosopher, mathematician and astronomer.
Panerai's most recent creation in the "Lo Scienziato" range is the new Radiomir 1940 Tourbillon GMT Oro Rosso - 48mm, developed by the "Laboratorio di Idee" of the Panerai Manufacture in Neuchâtel. What immediately stands out is the work of skeletonising the P. 2005/S movement, the hand-wound calibre with a tourbillion regulator which brings this superb timepiece to life. Every component has been reduced to its essential structure and it is therefore possible to admire the arrangement, finish and action of the movement in great detail, both through the dial and the back.
The mechanism of the rotation of the tourbillon cage created by Panerai is unusual in that a single rotation is completed in 30 seconds - instead of the traditional 60 - and it rotates on a perpendicular axis, instead of parallel to that of the balance wheel. This special construction compensates more effectively position errors caused by the force of gravity, thus ensuring more accurate time measurement.
The skeletonised bridges and plates not only reveal the interlacing of the gear wheels and components of the watch but also the unwinding of the springs inside the three barrels which give the timepiece a power reserve of six days. The power reserve remaining is indicated on the back of the movement.
"Lo Scienziato" is presented for the first time in a Radiomir 1940 case of red gold, the diameter of which is an imposing 48 mm. To enable the skeletonising to be admired, the watch does not have a normal dial: the small seconds dial at 9 o'clock, with its indicator dot rotating simultaneously with the tourbillon cage, and the counter at three o'clock, with the AM/PM indication are integral with the movement. On the other hand, the linear hour-markers and numbers, all coated in ecru Super-LumiNova® are directly fixed to the black flange on which the name "Lo Scienziato" is engraved.
The P.2005/S movement also has the GMT function with a central hand indicating a second time zone, day/night indication on an auxiliary dial at three o'clock and the system for quickly setting local time. This is done by means of a star wheel with 12 teeth and a small friction spring, which enables the single hour hand to be adjusted in jumps, without interfering with the movement of the minute hands or the running of the watch.
Produced in a limited edition of 30 units, the new Radiomir 1940 Tourbillon GMT (PAM00559) comes with a black alligator strap and a polished red gold folding buckle. Like all Panerai watches the new model is water-resistant, in this case to a depth of 50 metres.
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Panerai - The "Panerai Only" sale tests buyer interest
On December 8, Artcurial auctioned off some 69 lots in a sale titled "Panerai Only," the first public auction dedicated to the Italian brand. The sale included timepieces made from the 1930s to the present day. Notwithstanding its commercial aspirations, it aimed to give greater visibility to a brand whose history and production were cloaked in secrecy for years due to its military connection.
"The brand deserves to be better known by the public," said Marie Sanna-Legrand, a specialist in Artcurial's watch department. "Panerai has produced unusual diving watches since its founding. It was only natural for us to dedicate a sale to the brand just ahead of its 80th anniversary," she said.
The 80th anniversary in question refers to the birth of the Radiomir, first made by Panerai in 1936 for Italian military divers. The brand itself dates back to 1860 when it started as a small shop backed by an atelier and watchmaking school, primarily supplying measuring instruments and diving watches to the Italian Marine.
In 1997, the brand was acquired by the Compagnie Financiere Richemont. Today, Panerai produces its own movements and assembles its watches in a manufacture in Neuchâtel, Switzerland.
In sheer numbers, the sale was less than spectacular. It totaled €1,014,010 (including premium) against a presale estimate of €1,325,800 (not including premium), with only 43 percent of the lots sold and 63 percent sold by value.
"When you consider the historical pieces, 80 percent were sold," said Romain Rea, an outside specialist retained by Artcurial to procure consignments and prepare the catalogue. "Limited editions also sold well to collectors and dealers. It was the middle range, pieces priced between €3,000 and €15,000, what we call second-hand pieces, that sold less well, in the 20 percent range. This is a phenomenon we have witnessed globally in the watch market," he added.
According to the auction house, two world records were achieved. Lot 52, labeled an exceptional and rare limited edition 1956 stainless steel diving watch was sold for €125,800. Lot 38, a Radiomir model PAM00021, a 1997 limited edition wristwatch with a Rolex movement and a re-edition of the 1938 Radiomir, sold for €103,500. Both found buyers at or close to their lowest estimates.
Two other models, lots 25 and 40, from the 1950s, both with Rolex-manufactured movements, found buyers for €101,000, at their lowest estimates.
"We had gathered historical pieces that trace the brand's history and important stages of production," Mr. Rea said. "There was a time when there were few clients for Panerai watches. Now, there is a growing collector base and the sale helped in further developing that base."
Educating the public and developing a collector-base with an appreciation of the merits of a brand can help narrow the gap with the top market sellers, Patek Philippe and Rolex. Clearly, the global result of the Panerai sale pales in comparison to the spectacular results that, say, a Patek Philippe or Rolex sale can generate.
Just weeks before the Panerai Only sale, Sotheby's had sold the Patek Philippe Henry Graves Supercomplication for nearly $24 million. Christie's single brand Patek anniversary auction last November generated $19,7 million. A year earlier, Christie's single-themed Rolex auction titled "Rolex Daytona Lesson One" had fetched $13 million.
While Christie's and Sotheby's may shun brands other top sellers for theme sales, auction houses like Artcurial can carve their own niche market and capture clients out-priced by a rare Rolex or Patek.
"Thematic watch sales are a strategy we believe in and that we will continue in the future," said Ms. Valade, Director of the Watch and Jewel Department, Artcurial.
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Panerai - Collecting in New York
Many watch brands would like to be in Panerai's shoes. Since its acquisition by the company that became the Richemont Group, the watch firm with Italian roots has become one of the most collectible in the industry. Not many other brands can boast their own vast online collector community?
The Paneristi, as they are known, are passionate about their favorite brand. The community comprises collectors all stripes, from every continent and just about every walk of life—people of varied interests and ages, dwelling in cities and in the countryside. What brings them together is the joy that a certain watch designed in Italy and made in Switzerland brings to their lives.
Though the Paneristi are spread out around the world, several members make a point of gathering annually in a different city to celebrate "P-Day." Two years back, that celebration took place in New York, hosted by one of the more visible Paneristi to call the Big Apple home, the artist Eng Tay. International Watch caught up with Mr. Tay to discuss what makes the Paneristi tick.
iW: What drew you to Panerai?
Eng Tay: I've always been a watch enthusiast, even as a young man. I started out collecting modestly, but as my passion grew over the years, so did my eye for style and impact. I have to admit that at first I wasn't at all into Panerai watches because I was a little intimidated by the size.
Then my brother mentioned Panerai to me in 2000, and I had a second look. I had always worn 36 to 38mm, but then I went and tried one on. That was it! The weight was so reassuring and after a while, I began to stop looking at smaller models in other brands! Then the collecting started.
How did you discover the Paneristi community?
I discovered the Paneristi.com website in 2004 and I lurked there for quite some time, before becoming bold enough to join and reach out. It was a great experience. I found a place where passion for watches is a requirement, not an oddity.
What led you to become an active member?
I love to travel and one of the things that I enjoyed about the Paneristi community was that it was not only all across the U.S., but also international. As I was preparing for each trip, I was able to include meeting up with other 'Risti's, which added a whole new dimension to my travels.
Also, I met new people right here in New York, who again, not only shared the passion for the brand, but also had the same spirit of friendship that I had discovered on the Forum. I'm not much of a poster, but I do connect with others through e-mail. I also loved the spirit of giving that was evident in the fundraisers, which is something that has always been important to me.
How many Panerais are currently in your collection?
About forty pieces…
Do you collect vintage as well as modern pieces? Any highlights?
I do collect both vintage and modern pieces. I have a passion for things that are old, or from a different era. When a watch comes with an interesting provenance as well, it makes it all that more special.
Having said that, I also collect from an artist's point of view and I love good design. Many of the modern pieces are so beautifully styled, that I can be equally as passionate about them too.
I do have a few highlights….my PAM 21 Complete NOS is a highlight because it's one of the first that I bought, then there is the 6154….you know, I can't really answer this question definitively! There are too many special pieces.
You hosted P-Day in New York a few years ago. Have you traveled to other P-Days in the past? If so where?
I have been to P-Day on Hamilton Island in North East Australia, and I have been to P-Day in Germany. It was such an honor for me to host P-Day in New York. I am looking forward to traveling to London in the UK for this year's P-Day event. I'm sure it will be a blast.
How many attendees were at P-Day in New York? How many were local and how many traveled to attend?
Oh boy, that is a hard question to answer without going back into old files! I know that we were at full capacity and it was a very well mixed group. New York is a huge attraction on its own but we had attendees from all over Europe, not to mention Hawaii, Russia and Asia. The local attendee numbers were very high also. I think altogether we had close to 150 people there.
Panerai collectors are very well known for their passion. What do you think it is about the brand that inspires their passion?
I think the Panerai brand shows such a b connection to history which makes them that bit more special than other pieces.
The visual design and style is also so special; with Panerais there are no wasted details. Visually they are understated yet are still eye catching. They are weighty, yet reassuring to wear.
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Panerai - Luminor Marina 1950 3 Days - 47 mm
Presented for the first time at the exhibition "O'Clock - time design, design time" (Milan Triennale, 11th October 2011 - 8th January 2012), the Luminor Marina 1950 3 Days - 47mm (PAM00422) is an excellent example of the mix of design and technique embodied by Panerai watches.
The special design of the case is inspired by a rare historic model and is characterized by the pronounced cusp rounding of the carrure. This feature, rich in meaning from the historical viewpoint, testifies to the transformation, which occurred in the early 1940s, of the Radiomir's cushion case into that of the Luminor, and in the Luminor Marina 1950 3 Days - 47mm it enhances a 47mm steel Luminor 1950 case (AISI 316L), with the classic lever device protecting the winding crown made of brushed steel.
The black dial of the Luminor Marina 1950 3 Days - 47mm is typical of the Panerai style, with small seconds at nine o'clock and the classic succession of large numbers and indexes. The dial has a "sandwich" structure with the ecru Super-LumiNova® layer enclosed between two plates, which emerges from the holes made in correspondence with indexes and numbers, to give maximum clarity and depth to the dial. The engravings "Luminor Marina" and "Panerai", made using characters from the period, complete the design of the dial.
The movement of the Luminor Marina 1950 3 Days - 47mm is the hand-wound Panerai calibre P.3001, entirely executed at the Neuchâtel manufacture. With a 16½ lignes diameter, the P.3001 has a structure characterised by large bridges, two barrels providing a 3-day power reserve, and a variable-inertia 13.2mm-diameter balance, which permits adjustment of the movement rate of the watch thanks to the screws on the outer ring. The movement is visible through the crystal of the back case, which also allows the wearer to read the power reserve indicator placed on the main bridge.
Identified by the reference PAM00422, the Luminor Marina 1950 3 Days - 47mm is made in a series of 2,000 pieces. It comes with a strap in a pure and natural leather, without any additional lacquer finishing, closed with the classic Panerai brushed-steel buckle.
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Panerai - Luminor 1950 3 days - 47 mm
In the 1930s and 1940s the names Radiomir and Luminor identified the luminous materials used by Officine Panerai to increase the night-time and underwater visibility of the dials of the watches designed for the commandos of the Italian Navy. Over the years, these two terms have come to identify the two different case shapes of the iconic watches of the brand, one of which is a development of the other. In fact, the Luminor case came into being as a result of the need to make the Radiomir case still more water-resistant. To this end, the bridge device with clamping lever was added, protecting the winding crown and making it more water-resistant, while the large, straight lugs, milled with the case from a single block of metal, replaced the wire strap attachments, welded in place.
For the first time, a new Officine Panerai model uses a unique case which marks the historic development of the Radiomir case: the Luminor 1950 3 Days - 47 mm. The Luminor 1950 of the new model, executed in polished steel in the classic size of 47 mm, has a rounded, cuspshaped caseband, directly descended from the cushion design of the case which still today is characteristic of Radiomir watches.
Other details concern the constant search for the best blend between recovering the past and researching for innovation: the flat back with the large sapphire crystal window which enables the manufacturemovement to be seen; the slightly narrower lugs which give a greater impetus to the whole; the Plexiglas® crystal; the engraving of the reference between the lugs, for the first time in the recent history of Officine Panerai but in this case directly derived from the historic originals; and the inscription "Luminor Panerai" which is no longer printed, but engraved on the dial in the lettering of the period.
The dial too confirms Officine Panerai's commitment to authenticity and loyalty to tradition: it employs the sandwich construction which provides excellent visibility under all conditions, as a result of the large quantity of luminous material which is applied between the two thin sheets forming the dial, the radiance of which appears through the figures and the hour markers cut through the upper plate. The hour and minute hands are also covered with the same ecrucoloured luminous material.
The new Luminor 1950 3 Days - 47 mm is fitted with the P.3000 calibre, a hand-wound mechanical movement entirely designed and developed by the Officine Panerai manufacture in Neuchâtel. With a diameter of 16½ lignes, the P.3000 has the characteristic structure of large bridges, two spring barrels providing a power reserve of three days and a variable inertia, 13,2 mm balance wheel which enables the rate of the watch to be adjusted quickly and easily by means of the screws positioned externally around the rim.
Identified by the reference PAM00372, 3,000 units of the Luminor 1950 3 Days - 47 mm are being made. It is supplied with a leather strap - with vintage treatment making it very similar to the straps of the models of the time - closed by the classic Panerai buckle in brushed steel.
Movement: Hand-wound mechanical, Panerai P.3000 calibre, executed entirely by Panerai, 16½ lignes, 5.3 mm thick, 21 jewels, Glucydur® balance, 21,600 alternations/ hour. Incabloc® anti-shock device. Power reserve 3 days, two barrels. 160 components.
Functions: Hours, minutes.
Case: Diameter 47 mm, polished steel.
Bezel: Polished steel.
Back: See-through sapphire crystal.
Device protecting the crown: (protected as a Trademark) Brushed steel.
Dial: Black with luminous Arabic numerals and hour markers.
Crystal: Plexiglas®, 3 mm thick.
Water-resistance: 10 bar (~100 metres).
Strap: PANERAI personalised leather strap and large-size brushed steel buckle. Supplied with a second interchangeable strap and a steel screwdriver.
Reference: PAM00372.
Calibre P.3000Entirely designed, developed and produced in the Officine Panerai Manufacture in Neuchâtel, the hand-wound P.3000 calibre presents the main characteristics of the Panerai movements both in terms of structure and in terms of performance, robustness, accuracy and its long power reserve.
The thickness of the calibre P.3000 is 5.3 mm and the diameter is 16½ lignes, a substantial size which traces its origins from that of the movements which were fitted to the historic Panerai models. The calibre is immediately recognisable by its construction, which is similar to that of a three-quarter plate movement: a large bridge, next to another smaller one, covers the majority of the mechanical parts and it is fixed to the bottom plate by a series of screws of substantial thickness, thus forming a particularly rigid structure.
The movement has 21 jewels and it uses two spring barrels connected in series. Such an arrangement enables long, thin springs to be used, which ensures the delivery of a more even force and also does so over a longer period of time, with a power reserve of 3 days. The balance wheel is unusually large (13.2 mm) and it is the variable inertia type, with four adjusting screws arranged externally round the ring, so that the rate can be regulated without it being necessary to remove the whole assembly. Supported by a bridge with twin supports - a fixing much safer and more stable compared to the cantilevered single bridge - the balance wheel oscillates at a frequency of 3 Hz, equivalent to 21,600 alternations per hour. It is fitted with an Incabloc® antishock device and is free-sprung, so there is no regulating lever.
With brush-finished bridges and chamfered angles - that is, with the angles smoothed and polished - the P.3000 calibre is also fitted with the device for the rapid adjustment of the time: a star wheel with 12 points and a small spring clutch enable the hour hand to be moved one hour at a time, without interfering with the movement of the minute hand or the operation of the watch.
Functions
-Hours, minutes, small seconds
Technical specifications
-Hand-wound
-Power reserve 3 days
-160 components
-21 jewels.
-16½ lignes in diameter
-5.3 mm thick
-Two spring barrels
-Frequency of oscillation 3 Hz
-Incabloc® anti-shock device
[Rating: 5 / 5 stars]
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