dadog13 Posted June 12, 2009 Report Share Posted June 12, 2009 Vintage lovers...you can find on the following link an explanation by Mr.Ferretti regarding the N.O.S movements - Angelus SF240 - which were bought by Panerai for the PAM203 and PAM267 (in the future maybe some other as well...)... Mr. Ferretti sold them to Panerai in the 1996 - 190 pieces // each priced 110.000 lire italiane // total 20.900.000 lit!!! http://www.network54.com/Forum/353391/thre...us+not+vintage- enjoy the read!!! Quote Link to comment Share on other sites More sharing options...
ubiquitous Posted June 12, 2009 Report Share Posted June 12, 2009 $15k USD? Quote Link to comment Share on other sites More sharing options...
docblackrock Posted June 12, 2009 Report Share Posted June 12, 2009 $15k USD? Slightly off Ubi.... I remember very well at that time sterling trading at around Quote Link to comment Share on other sites More sharing options...
ubiquitous Posted June 12, 2009 Report Share Posted June 12, 2009 Back in 1996... I don't think I was paying attention to exchange rates Quote Link to comment Share on other sites More sharing options...
dadog13 Posted June 12, 2009 Author Report Share Posted June 12, 2009 Back in 1996... I don't think I was paying attention to exchange rates back in '96 - 99.9% of the members of the forum didn't know what was a Panerai...even less what movements were used in Vintage Panerai...however, If he offered them to me - I would have given him more $$$ than Panerai did! I came across Panerai in that period '96-'97...but I was a student back then and I could have only dreamed to own of those! Quote Link to comment Share on other sites More sharing options...
chefcook Posted June 12, 2009 Report Share Posted June 12, 2009 Yep, 1000 lira were about 1DM (German Marks), which were 0,51 Quote Link to comment Share on other sites More sharing options...
docblackrock Posted June 12, 2009 Report Share Posted June 12, 2009 Back in 1996... I don't think I was paying attention to exchange rates Well I too was a young pup....on a year-long research stint in the Veneto as part of my studies, and so being poor it was fun walking round with thousands in my pocket Quote Link to comment Share on other sites More sharing options...
Topota Posted June 12, 2009 Report Share Posted June 12, 2009 It is a most interesting fact. Panerai had made all believe that these movements had rested in their storage thru time, only to be dusted off for the grand 203 project. Fact is, yes these movements had been in storage for only a FEW years since they were acquired from Ferreti, and not old stock from vintage Panerai! Without the direct lineage and with the notion that these were bought for under U.S. $100 each it leaves many scratching their heads, including me. The biggest price appreciation story in the history of post-vendome Panerai is not as clean as all believe. Of course there are 150 Panerai selected 203 owners that are ready to come on the defense, can't blame them though, money. Vintage lovers...you can find on the following link an explanation by Mr.Ferretti regarding the N.O.S movements - Angelus SF240 - which were bought by Panerai for the PAM203 and PAM267 (in the future maybe some other as well...)... Mr. Ferretti sold them to Panerai in the 1996 - 190 pieces // each priced 110.000 lire italiane // total 20.900.000 lit!!! http://www.network54.com/Forum/353391/thre...us+not+vintage- enjoy the read!!! Quote Link to comment Share on other sites More sharing options...
VDBroucke Posted June 12, 2009 Report Share Posted June 12, 2009 in 1996 nothing guys want a panerai small guys know panerai in ital boutiques the 201a everyday for sale 1300DM(670 euro) nothing peoples want this... after 97(sly make power for panerai...and the bomb is fly) Quote Link to comment Share on other sites More sharing options...
docblackrock Posted June 12, 2009 Report Share Posted June 12, 2009 It is a most interesting fact. Panerai had made all believe that these movements had rested in their storage thru time, only to be dusted off for the grand 203 project. Fact is, yes these movements had been in storage for only a FEW years since they were acquired from Ferreti, and not old stock from vintage Panerai! Without the direct lineage and with the notion that these were bought for under U.S. $100 each it leaves many scratching their heads, including me. The biggest price appreciation story in the history of post-vendome Panerai is not as clean as all believe. Of course there are 150 Panerai selected 203 owners that are ready to come on the defense, can't blame them though, money. Wouldn't be the first time a company was a little economical with the truth regarding its heritage, so I don't see the big issue. Is the 203 overpriced and overhyped to obscene proportions? Yes Is it worth what it fetches on the open market? Of course not, just like it's 'charlatan' cousin the god-awful 127 'Fiddy'. Style over substance. As much as I like the Angelus movement, it's neither much to look at or much to admire in terms of technical design/craftsmanship - which is borne out by the price they fetched back in '96 - the Cortebert c.618 is far superior IMO. That said, the 203 dial is a thing of beauty - that gorgeous tobacco colour and the historic '8-giorni brevettato' stamp Quote Link to comment Share on other sites More sharing options...
sssurfer Posted June 13, 2009 Report Share Posted June 13, 2009 Great find, V! Thanks for the heads up and the link. Just, I don't know whether this is soothening or worsening my feelings for having been forced to give up with my 203 project because of money reasons... Quote Link to comment Share on other sites More sharing options...
z3k0 Posted June 13, 2009 Report Share Posted June 13, 2009 Vintage lovers...you can find on the following link an explanation by Mr.Ferretti regarding the N.O.S movements - Angelus SF240 - which were bought by Panerai for the PAM203 and PAM267 (in the future maybe some other as well...)... Mr. Ferretti sold them to Panerai in the 1996 - 190 pieces // each priced 110.000 lire italiane // total 20.900.000 lit!!! http://www.network54.com/Forum/353391/thre...us+not+vintage- enjoy the read!!! Wow, great find, thanks ... back in '96. we used to go to Trieste to do shopping, and 110.000 lit was price of pair of Levi's 501s (100 DEM back then, or 50 Quote Link to comment Share on other sites More sharing options...
earlgrey-erfurt Posted June 13, 2009 Report Share Posted June 13, 2009 To know what in 20 years will be... some decisions would be changed I think you have to look at a decision just in time and Seniore Feretti thought it was a good deal... I am sure he got them more cheap from the dead aftersale of Angelus Imhof. The movements lay around for years before he sold them to Panerai. And as Stephan said very very lucky buyer to buy Panerai at retail Price in the before-Sly-Area. Cheers Helmut Quote Link to comment Share on other sites More sharing options...
Watchmeister Posted June 13, 2009 Report Share Posted June 13, 2009 Thanks so much for the post. I can't believe anyone was questioning the validity of the movements in the first place. Anyone who has taken apart an Angelus would know that no one would bother to rep them prior to their becoming popular in the last few years. And if you look carefully at a 203 it is crystal clear what was done to redo the plates. Quote Link to comment Share on other sites More sharing options...
Topota Posted June 13, 2009 Report Share Posted June 13, 2009 Anyone who has taken apart an Angelus would know that no one would bother to rep them prior to their becoming popular in the last few years. That would make for a very small universe ;-) Quote Link to comment Share on other sites More sharing options...
Watchmeister Posted June 13, 2009 Report Share Posted June 13, 2009 That would make for a very small universe ;-) I think you would be surprised. Heck, I was on a really boring conference call a couple of weeks ago and couldn't resist taking apart a 190 from a clock I use as a desk clock at work. Nice big movement - lots of room to figure out what goes where. And when I do finally get to the point where I can't get it back together - off it goes to Ziggy to fix it. As we speak, the plates from my 240 are sitting with a world class cnc shop. Quote Link to comment Share on other sites More sharing options...
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