Resale Value - Panerai

[amitabh]

Agree with you. Only keeping my old Panerai and stopped buying new ones for more than 3 years already

i feel that LVMH takeover has something to do with this . LVMH bosses may have decided to milk this brand ..perhaps having little understanding of the heritage and risk involved .

i have written to them complaining about the state of affiars . Seems they have a problem with the channel level also......selling thru grey market now .

coupled with that no support on marketing ....even their facebook page dosnt get updated . Agree on all the points mentioned above from a product perspective

[WatchRUs]

Panerai is undergoing a very serious brand dilution phase now. Thats the price to pay for producing too many too soon. Their special editions haven't got much meaning now. You have so many SEs every year and the worst part.... reproducing SEs.

Agree with you. Only keeping my old Panerai and stopped buying new ones for more than 3 years already

[Seventh Son]

Panerai is undergoing a very serious brand dilution phase now. Thats the price to pay for producing too many too soon. Their special editions haven't got much meaning now. You have so many SEs every year and the worst part.... reproducing SEs. I would rank Pams and Hublots together now. They are the king of Special Editions. Though prices have taken a beating in recent years, I dun see myself acquiring one. Although tempted at times!

[parkJ]

i think panerai resale prices dropped quite abit

saw pam 388 selling below 6k (retail around 10k?)



Btw, can someone share with me is this 183 movement real or fake?

[amitabh]

things have changed since then ...Pam still holding ?

[Mezz72]

[wlover]

personal opinion, the prices may adjust downwards but if it happens it will only be marginal... And short term... That is to protect the brand value.

As long as there is demand prices will hold steady or increase over time. Any short term adjustment downwards panerai can argue it is due to fx fluctuation. However in the long run prices should slowly appreciate as more developing countries get richer and more affluent hence resulting in increase of demand of luxury goods.

Increased demand will come from developing countries... It was China, Dubai, etc. It could be India, Philippines, next. Of course China will continue to be a strong sales driver.

It will be absurd to think the RRP at local AD will fall by 25 or 30% as this will seriously damage the brand value and reputation. No reputable luxury watch brand will allow that. Not Rolex, not PP, not JLC and certainly not Panerai.

The same can't be said for grey market and that's why there will always be a market for them. The same also can't be said for preowned market. Only a few brands actually have preowned models that appreciate in value or hold value well.

[gohaj]

The bubble has burst. Yeah right.. Still waiting for a Pam 005 at SGD $3500.00 to complete my set of Pam 000 and Pam 005 : )

I bid for $3600. Ha!

000, 005, 111, 112 are all good in my view, cheaper Panerai models too

[FullHouse]

Not impossible. I paid $7500 for a 5G back then. Now, it's 1/3 down.

Maybe I should hunt for my old flame, 183G!

May be you must act fast if you can find one , for sure😄

[KuchingKu]

The bubble has burst. Yeah right.. Still waiting for a Pam 005 at SGD $3500.00 to complete my set of Pam 000 and Pam 005 : )

I would say .. it is less insane now. It was way off tangent during 07 circa

Not impossible. I paid $7500 for a 5G back then. Now, it's 1/3 down.

Maybe I should hunt for my old flame, 183G!

[Paneraii]

The bubble has burst. Yeah right.. Still waiting for a Pam 005 at SGD $3500.00 to complete my set of Pam 000 and Pam 005 : )

I would say .. it is less insane now. It was way off tangent during 07 circa

[pegasi]

Reasons why the number of Pams (both quantity and models) will only increase (which might or might not impact resale). Rolex makes 900000 watches a year and resale still ok.

1. It is part of Richemont and not independent.
2. Richemont looks to OP as a 2nd tier Luxury product (Similar to IWC but not like Lange)
3. Richemont sees the potential for OP to "muscle" into the segment where AP used to dominate (Hublot also join in)
4. Richemont's purpose of making OP in-house is in line to mark OP in the correct segment. Keep it ETA and they will not be able to sell watches above RRP$20K.

So, I think Richemont is milking its DNA to make it mass market high horology but that in itself is a little flawed as the roots of Pam is a affordable military watch. Trying to make it into haute culture is a mis-normer. Haute culture belongs to the Patek, Lange and VC!

A fair interpretation/assessment.

Didn't someone say it's all about money?

[LostBoys]

I have had no fewer than 30 Pams since 2004. When 372 (127 killer) came out, I exited the Pam market, keeping one 1 titanium base cos its got the Pam DNA. What follows are remakes of LE piece, small variations and another model number. At that time, I knew Pam is going to be seen everywhere but it also means nothing special and that most people cannot tell from one model to another just be looking at it from far.

For me that's it for Pam.

Resale prices is the result of many factors. Pams still hold ok resale (but that's relative depending on what you compare with) but it now blends more like all other watches. I would say, Pam has lost its roots and former uniqueness in exchange for greater mass market appeal (which ironically means it is less appealing to the older collectors)

I still have fond memories of my 127, 217, 249, 232, 190, 1A and 116. Those to me are what Pam is about.

well said, this is why i'm all left with a 243...those were the days!

[KuchingKu]

Mass produce is not the same as over produce. No manufacturer will plan to over produce but will always aim to increase sales (and hence production volume). Over-supply is usually a consequence of inaccurate sales forecast (as a result of product/pricing/marketing strategy etc) + competitions.

For me and (I believe) for most people, the problem with OP is not increasing the volume but number of models. However, that does not necessary mean OP have failed to increase overall sales, but it should be fair to say that any long-term negative impact as a result of such product strategy is something they do not anticipate.

Reasons why the number of Pams (both quantity and models) will only increase (which might or might not impact resale). Rolex makes 900000 watches a year and resale still ok.

1. It is part of Richemont and not independent.
2. Richemont looks to OP as a 2nd tier Luxury product (Similar to IWC but not like Lange)
3. Richemont sees the potential for OP to "muscle" into the segment where AP used to dominate (Hublot also join in)
4. Richemont's purpose of making OP in-house is in line to mark OP in the correct segment. Keep it ETA and they will not be able to sell watches above RRP$20K.

So, I think Richemont is milking its DNA to make it mass market high horology but that in itself is a little flawed as the roots of Pam is a affordable military watch. Trying to make it into haute culture is a mis-normer. Haute culture belongs to the Patek, Lange and VC!

[pegasi]

over the years while talking to forum members especially panerai watch owners, what if one day, panerai decided to go "mass produced" in various aspects such as increasing production numbers, models. what will happen to their resale value.

Mass produce is not the same as over produce. No manufacturer will plan to over produce but will always aim to increase sales (and hence production volume). Over-supply is usually a consequence of inaccurate sales forecast (as a result of product/pricing/marketing strategy etc) + competitions.

For me and (I believe) for most people, the problem with OP is not increasing the volume but number of models. However, that does not necessary mean OP have failed to increase overall sales, but it should be fair to say that any long-term negative impact as a result of such product strategy is something they do not anticipate.