Panerai Historic

[Leifhaus]

I was just looking at ebay panerai watches - looking a gen 112s. And it just really hit me (again) these watches should not cost $4K plus. There is just no logic based on materials and works that this manual wind watch should cost that much. It's just crazy, maybe like $800-$1,200 with a good strap. There's no logic to it. They are just not worth the asking price. They're simple and beautiful but it's crazy. I know the response, yes it's supply/demand, watches are illogical purchases, ferrari aren't worth it either. Just had to vent.

[phaedo]

One of the 2 reasons I am not looking to buy a gen of Panerai myself - nice watches, love them, but for such a cheap watch to make really, they are too expensive for me for a base model. That and the lack of a date function.

[peepshow]

Is a SS Rolex Sub worth it at $4k+? How about an IWC Cousteau?

No *luxury* watch (or other luxury good) is going to be considered good "bang-for-your-buck" when you take into account the actual manufacturing costs vs. the retail price.

[Sweattdogg]

Why should they charge less when people are on waiting lists to get their watches? They sell out of every piece they make. Overpriced? Maybe, but is a 127 (fiddy) really that much different or harder to make than a 111? A used 127 is now in the $20k range with a used 111 in the $4k range. You pay to play the game. Is it so much different then any designer product? Do True Religion jeans do anything better than a pair of Dickie jeans from Walmart? I understand what you are saying, but at the same time almost anything you look at, clothing, cars, etc will be the same way.

Edited May 21, 2008 by Sweattdogg

[AndreasK]

I agree! I had a Gen 111 that I bought used on TZ for $3K. After about 3 months of ownership, I looked at it and though, "This isn't a 3K watch" and sold it the next day. This was long before I knew about reps etc. and now have a rep 111 and 183. I have the look I like without the cost, isn't that why we all buy reps anyways?

Andreas

Is a SS Rolex Sub worth it at $4k+? How about an IWC Cousteau?

No *luxury* watch (or other luxury good) is going to be considered good "bang-for-your-buck" when you take into account the actual manufacturing costs vs. the retail price.

[Fidestro]

Is a SS Rolex Sub worth it at $4k+? How about an IWC Cousteau?

No *luxury* watch (or other luxury good) is going to be considered good "bang-for-your-buck" when you take into account the actual manufacturing costs vs. the retail price.

I am going to play devil's advocate on this one and call you out because I can think of one exception.

The Bugatti Veyron

Volkswagen has a ton of money wrapped up in development and production in that monster and they are still losing money on them despite the fact that they sell like mad. An quite frankly if I had the coin, I would be on it like white on rice. I think it would be worth every penny.

But yeah, by and large I agree with you.

EDITED TO ADD:

The biggest slap in the face about Panerai is wildly inconsistent pricing. Example - A 111 vs a 1950. Same guts, same basic design but a slightly different case and crystal but about a 20k difference in price. At least with an expensive Rolex I could by a diamond studded Gaytona to see where my money went.

[StormTooper4]

. EDITED TO ADD: The biggest slap in the face about Panerai is wildly inconsistent pricing. Example - A 111 vs a 1950. Same guts, same basic design but a slightly different case and crystal but about a 20k difference in price. At least with an expensive Rolex I could by a diamond studded Gaytona to see where my money went.

Cars are an interesting comparison. Not as obvious these days but you could compare a Base Luminor with a BMW 318i and the more expensive models with the 7 series with all the works. Etc. I agree they are expensive for what you get. But I only know that now given my time here on RWG. I would of know what a Unitas movement was until I read up on it on this forum. The thing is this a Raw watch movement that dubiously may or may not have some History associated to it. Abit like a Morgan or a Caterham car very basic but does the job very well. I disagree with the 1950 comment when Paneari released this it was RRP of around 7k so only 2k more than the smaller marina. It was a limited edition and its rarity and market desire that have pushed the price above 20kGive the total number of watches that Panerai produce each year its hard to fault. I'm not sure what the KPI of Rev/watch would be but I guess it would be low. Compared to the powerhouses of the likes of Rolex and omega who produce near on a Million watches per year. Questionable Value me thinks!Then again you could say the same thing about a 250000 comex sub. Now that really is insaneUnless of course you owned one in the first placeST

[mastergod]

I agree! I had a Gen 111 that I bought used on TZ for $3K. After about 3 months of ownership, I looked at it and though, "This isn't a 3K watch" and sold it the next day.

Andreas

I agree! Life evolves around achieving difficult goals. So, we become interested in expensive things. And then we buy them. And then we realize the interest was unjust. And then we sell them. And then we forget that the interest was unjust and start looking for a replacement. Damn I love watches. Hope they love me back.

Edited May 23, 2008 by mastergod

[Stephane]

No *luxury* watch (or other luxury good) is going to be considered good "bang-for-your-buck" when you take into account the actual manufacturing costs vs. the retail price.

Agreed 100%.

And by the way it goes for all collectable items...

Think about VanGogh