When Officine Panerai, now simply known as Panerai, became available to the public in the 1990s, the Swiss watch brand with Italian roots skyrocketed in popularity thanks in no small part to a handful of big Hollywood stars. With their large cushion-shaped cases and stark dials, Panerai models are some of the most recognizable watches today. The brand also enjoys a loyal following of fans, affectionately known as Paneristis. This strong brand recognition makes it relatively easy to sell a Panerai watch on the secondary market; however, the brand’s popularity has waxed and waned over the years, which can impact the value of pre-owned Panerai watches.
While you can (and should) follow the suggestions we’ve outlined in our complete guide to selling luxury watches, below are some brand-specific tips that are helpful to know when selling a Panerai watch.
Locate the Panerai Reference and Serial Numbers
While it is always important to know the reference number when selling any watch, it’s even more crucial with Panerai watches since so many of them look nearly identical. Panerai’s main watch models are Luminor, Luminor Due, Radiomir, and Submersible, many of which share highly similar design traits. Sometimes, it’s the subtle differences that distinguish a four-figure Panerai from a five-figure or even six-figure one. And knowing the reference number is the key to unlocking those subtle differences.
Panerai reference numbers begin with PAM (which stands for Panerai Model), followed by a five-digit number. For example, PAM00915. However, the zeros that directly follow PAM are sometimes dropped and spaces are often added; so, PAM00915 is also known as PAM915 or PAM 915.
If you have the original papers of your Panerai watch, then finding the reference number is easy. However, if you no longer have that documentation, then it’ll be trickier to identify the Panerai reference since PAM numbers are not engraved on the watches. Panerai casebacks are engraved with several other numbers, which can help you identify the watch’s PAM reference number.
Panerai Caseback Numbers
If you look at the back of a Panerai watch, you’ll typically see four sets of codes.
The first code begins with OP, followed by four numbers. This is the case number and it is shared across several Panerai watches.
The second code generally begins with BB (but DB, DT, PB, PL, PN, PT, SM, and SW have also been used), followed by numbers. This alphanumeric code is the watch’s serial number and therefore, unique to each timepiece. Although you should never publically display a watch’s serial number (counterfeiters could use it on replica watches so you should always blur it out in pictures), a potential buyer may eventually want to know it before pulling the trigger.
The third code is a letter, which indicates the year of production of the Panerai watch.
Series | Year | Series | Year |
A | 1998 | N | 2011 |
B | 1999 | O | 2012 |
C | 2000 | P | 2013 |
D | 2001 | Q | 2014 |
E | 2002 | R | 2015 |
F | 2003 | S | 2016 |
G | 2004 | T | 2017 |
H | 2005 | U | 2018 |
I | 2006 | V | 2019 |
J | 2007 | W | 2020 |
K | 2008 | X | 2021 |
L | 2009 | Y | 2022 |
M | 2010 | Z | 2023 |
The fourth code indicates the edition of the watch out of its total production run for that year. For example, 055/500. This is sometimes called Millesimation among Paneristis.
The easiest way to find out your watch’s PAM reference number without any paperwork is to reach out to Panerai’s concierge service and they can confirm it by using your watch’s BB serial number.
Panerai Packaging and Documentation
If you have any of the original paperwork or packaging of the Panerai watch you want to sell, we highly recommend taking the time to locate and gather them. The more complete a set is, the higher the payout you’ll receive for the sale. Including boxes and papers (such as warranty cards, sales receipts, service records, manuals, and so on) can add 10 to 20% to the value of the watch.
Panerai does offer a Certificate of Authenticity service. The watches are sent to the company’s facility in Neuchatel, Switzerland, and carefully inspected by Panerai watchmakers. The process costs about 350 Euros and takes six to eight weeks to complete. After the inspection, Panerai will issue a paper-format certificate of authenticity.
If your Panerai is relatively new, it may be eligible to receive an extended International Limited Warranty for up to six years. It may be worth checking out the Pam.Guard warranty extension program to see if your watch qualifies since a watch that’s still under warranty could be an attractive proposition for potential buyers.
Estimate the Value of Your Panerai
After identifying the reference number and gathering the set, you can move on to figuring out the approximate value of the Panerai you want to sell. Like most high-end watch brands these days, Panerai publishes the current collection’s manufacturer’s suggested retail prices (MSRP) on its website.
That said, knowing the current market value will be more relevant than MSRP. You can start your pricing research by having a look at the Panerai watches for sale at Luxury Bazaar. Alternatively, you can also check the following sources for additional information:
- Chrono24
- eBay sold listings
- WatchCharts
- Pre-Owned Watch Specialists and Grey Market Dealer Websites
Remember that the prices you see listed online will always be higher than what you’ll ultimately get for selling your Panerai watch. Published prices have to accommodate the costs of doing business, as well as leave room for negotiations.
Should I Service My Panerai Before Selling It?
Servicing a Panerai watch by an authorized service center is expensive. Costs start at $590 for time-only models, $770 for simpler complications, and $890 for more complicated models. Therefore, we generally do not recommend servicing a Panerai watch before selling it as you’ll rarely recover those costs.
Moreover, if you decide to sell your Panerai to a grey market dealer or pre-owned watch retailer, the company should take care of any maintenance the watch may need before listing it for sale.
Request An Offer from Luxury Bazaar
The most stress-free option would be to sell your Panerai watch to Luxury Bazaar. We have decades of experience buying Panerai watches from many happy clients including all types of Luminor, Radiomir, and Submersible models.
Simply request a free offer from Luxury Bazaar for your Panerai watch and we’ll guide you through the easy, convenient, and safe process.