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10 August 2021, 12:49 PM | #1 | |
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9 August 2021, 07:52 PM | #2 |
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That was a great read. I mean even if there’s an agenda, he is still reporting what seems to be facts. Take out the personal stuff that people claim and just digest the information, seems appalling wis don’t care more about this.
I appreciate his research. I would expect this is critically important info for any wis and very important disclosure details that journalist sources should openly be reporting and writing without any fire alarm raising. It should just be listed in their press writings as actual information. The huge problem today is twofold, media or I should say social media sources like Hodinkee or Revolution aren’t legitimate news or information sources like we used to know in past times. While journalists may work there, these are nothing more than paid “influencers” today. We will never get all the facts in real information based on research and knowledge finding, but instead reworked puffed up press materials. And they are compensated for their efforts or more specifically lack there of. Hodinkee is useless for any real credible unbiased information as most others. It seems the more technology and interconnectivity we have across platforms the less we care about facts. Puffed up press write up from past Basel releases were almost unbearably embarrassing on how much asskissing and false astonishment they showed while handling a watch. The second issue is the exceedingly high demand that we have today, most don’t care about horology. All they care about is the wrist roll shot. I remember when I got into this hobby/horology there was a lot of talk about movements and jewel counts, incabloc, Kif shock system, silicon hair springs, cotes de Geneve and Patek developed their own quality seal for their very best movements, etc…today few care as long as the watch is cool/appealing to you and generates likes on social media. How many times have you read a post on social media talking about the movement or time keeping. For example, ‘til this day I have never read one piece of data on how well an RM keeps time. I remember back in the day when you could get a 5711 for $25k and I discovered it didn’t hack, I was like wtf!…and AP RO had hand hand setting that was almost so sloppy that getting the right time when you pushed the crown in was almost luck…they’ve addressed these issues today while many didn’t care, at least we knew. Today you can post anything on SM and everyone just goes with it. Tell the high demand zombies that have grown dramatically in-house, this and that and they gobble it up. Looking at how many new watches Panerai releases with “new” fancy materials and they’re covering all their case backs removing hacking, how can anyone really expect they are truly “in-house”. I love Panerai but in moderation and stick to the basics. In the end I chose references that are simple and don’t mind if the base movement is ETA because I probably honestly trust that more than what Panerai is willing to do for developing a true ground up movement, I just don’t think they want to dump the R&D into that. Much easier to use what the mother ship provides and the hordes won’t really care. Look at what some of the comments here are like. That’s why Panerai will keep doing this. Meanwhile it’s why I think Rolex is so timeless, basic materials, basic designs, basic movements… all things truly in-house kept simple and it will endure. Carbotech looks cool but what about in 20-30 years, where are the forged carbon APs…. People don’t care though as most won’t hold a watch that long, today’s climate is about the buzz and flex, then move to the next one. For me the most exotic I’ll get is titanium, anything beyond that I would look at an RM and I don’t have the kind of money to even walk in the store and ask for a brochure so forget that. We will |
9 August 2021, 11:56 PM | #3 | |
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10 August 2021, 01:05 AM | #4 | |
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9 August 2021, 09:35 PM | #5 |
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A more restrained article from Perezscope that lends more credibility to his work.
Richemont has some serious managerial issues. I remember when Bremont got caught up in fake in-house claims and how it was such a “scandal”. To this day I don’t bother myself reading new watch articles on Bremont. Strange to see Richemont brands getting such a pass. |
9 August 2021, 09:52 PM | #6 |
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I take great interest in Jose's articles. I love his attention to detail in all his writing, whether uncovering fakes, frankens, or Panerai's slightly questionable history. I think it's important to have all the facts. To most consumers who want a gold Panerai sports watch, the movement is irrelevant and therefore won't affect their purchasing decision. For us WIS it does make a difference.
Personally I love my honest 112 with decorated eta.
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9 August 2021, 10:08 PM | #7 |
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Is my P3000 a genuine in house Panerai movement?
I hope so |
10 August 2021, 04:06 AM | #8 |
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epc2 you bring up a great point that Panerai's employee training and information may also be lacking. I have had GREAT customer service from Bob at the Panerai Boutique in Naples FL. Have never physically met Bob and he continues to be wonderful to work with.
Was in Las Vegas at WoS at Wynn and the Panerai reps were very helpful. Panerai service in Texas repaired a Panerai in very impressive time. So my personal interaction has been excellent from their 'front line' employees, yet Richemont and their Panerari brand at the top level seems to be very much lacking. Just as it is not Rolex's AD employee's fault there is no inventory, it is not Panerai's Boutique employees or service staff's fault that the company is not providing their employees with proper training details. The proverbial 'ball' is in Richemont's court. Let's see if they care about the Panerai brand name.
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10 August 2021, 05:36 AM | #9 |
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The P.9010 saga leaves a bitter taste.
When I searched for a 682, I think it was after Panerai switched to the solid back, but I only wanted the display back version to see the P.9010, and fortunately was able to locate one at an AD across the country. Thought it was odd that Panerai so quickly switched to a solid back for the 682, then again quickly replaced the 682 with the 973 with the P.900 movement. Using "P" for the 973 movement is not surprisingly confusing, and probably deliberately so by Panerai, which is off-putting. At current Sub prices, for such a simple movement, would want a fully inhouse movement, and with a display back. Previously had a 275, and loved the feature set (chrono, GMT, zero reset, 8 day reserve, PR indicator), and the P.2004 movement is still unique in the watch world? Hence got a 317. I don't have an issue with the P.2004 being developed/manufactured by ValFleurier, especially if exclusively used by and developed in conjunction with Panerai. AP forged carbon was mentioned earlier. The FC held up fine on my previous 44mm ROO. But I eventually grew to dislike the modular movement, and the case was really a bit too large for me. |
10 August 2021, 06:44 AM | #10 |
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My favorite aspect of the article is that they most likely jettisoned a gold case back due to the cost of the gold and by doing so, made it so much easier to discover their movement is an ETA.
Such a trash brand. I feel bad for Panerai owners at the moment bc the resale value is in the toilet. |
10 August 2021, 08:26 AM | #11 | |
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My Panerai are user watches meaning I dive with them and give them a daily dose of a unpampered life. My Pam 661 Carbotech looks absolutely mint even after hitting it on a bridge pier underwater on a dive. I guarantee my DSSD JC would have had a shattered bezel and dented case with that same hit. Here lies the rub as no other luxury watch by anybody would have taken this kind of abuse and be without any damage. Even it’s time keeping didn’t change as I put it on the scope that night. I am a movement snob of the highest technical order and like to keep things more analytical so let’s look at a genuine Panerai in-house movement from a actual owner as opposed to non-owner speculation. My Pam 661 all in-house Gen 1 P9010 movement has been rock solid with a 80 hour power reserve and a amplitude at 60 hours stronger than any Rolex movement after 24 hours. Durability and fit and finish has been flawless without any unusual dial printing issues, lume issues, prints on the hands, hand alignment, or dust on the dials from manufacturing even when using proprietary/unconventional materials. Both in-house P.9010 and OPIII modified movements are a +1 to +2 second a day. My Pam 104 with its OPIII non-in house movement has been rock solid the last 8 years and has held the new standard of accuracy of +2/-2 the entire time. This has more to do with someone at Panerai knowing how to regulate a movement more than anything. As a actual owner and user of a Gen 1 P9010 movement, I am not sure what could be improved with when comparing it to its competitors. It has all the latest automatic improvements in the industry like dual barrel mainspring, ceramic rotor bearings, etc…. Both 44mm watches sit flat on the wrist and are rather thin for their size. The Carbotech is feather light weight yet stronger than titanium. I own most all the brands and if we use Rolex as the gold standard of engineering, the P9010 betters it in many ways. I understand it’s fun to pile on Panerai the Company from a mob mentality without any actual real world experience of their watches but this is the difference between internet fodder by a person that was bounced from TRF from spreading his propaganda verses a experienced owner of many brands giving a educated real world report over a period of years. Don’t confuse Panerai’s top models to the company. Panerai makes some outstanding and unique automatic watches and is far from a “trash brand”. Panerai has always been avant-garde and that is their charm. With that comes some winners and some losers like the idea of 3 tiers of watches within the brand from Due on up unlike Rolex with one standard across the line. Omega uses the multi tier method but owning eta makes their different level of movements far more acceptable.
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10 August 2021, 08:46 AM | #12 |
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Mystro, what do you feel about the high prices on new models that have lower quality / finished movement? In other words, we know the movement's overall quality / decoration is decreasing while prices are increasing, would you agree?
Do you agree Panerai has not honestly and transparently disclosed, especially when directly asked, about the 9010 'Evolution' movement months ago, and only a short time later Paneri is doing the same with the ETA now? I look forward to your answers.
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10 August 2021, 09:05 AM | #13 |
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so many pam haters yet will spend 100k on a steel nautilus because they internet tells them its cool
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10 August 2021, 09:11 AM | #14 | |
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Panerai has always been a bit fuzzy with their movements in as far as what movement is made by them or has been “modified” enough to put their own designation on it much like my OPIII in my Pam 104. The industry as seen a all new customer in that they are far less concerned with the “perfections in the details”. This is true with the new wave of Rolex customers that know nothing about movements and don’t really care. We as WIS are hypercritical of our niche hobby but the reality is the mass buyers that buy luxury watches even at the very top level don’t enjoy knowing or investigating how our automatic movements even work. Panerai is just moving their focus to accommodate this new long term durability for their new warranty. One thing Panera has not compromised on is their customer service in the way their staff on the phone interacts with their customers. I’ve called them on several occasions and they have been nothing but top rate. Quite honestly, the best customer service I’ve ever experienced from any watch brand. Once again, this is a priority to a luxury watch buyer that might not know much about watches. From my past experience, Rolex is just OK and Omega is absolutely dreadful with how their concierge interact with the customer over the phone. Panerai is a top luxury brand giving a pretty competent luxury experience from buying the watch to buying accessories to asking for catalogs. I get more concerned if I see customer service and factory service centers start to be compromised. Panerai has it’s own style and attitude and I have never looked at Panerai as anything more than a tough, solid, highly legible luxury watch with outstanding lume. It’s simplicity in design and function is what it’s always been about. It’s never been about movement finishing from what I buy a Panerai for. In that perspective Panerai has not changed. I have always felt a Panerai being the ultimate strap watch was the perfect compliment to the Rolex being the ultimate bracelet watch in terms of not competing with similar styles or designs. As a long time WIS in this game, you have to cherry pick the right Panerai model as opposed to Rolex where all their watches are equal in movements and build. Panerai price points are what the market will yield as the entire luxury watch industry is up. I try to buy Panerai on the like new in box secondary market and let the first guy take that hit like they do/did with every other luxury watch brand except Rolex. It’s no secret now that the new novice watch buyers are heavily influenced by social media. Brands that are being pushed and brands that are not. Panerai has its Paneristis and they are still a strong tight community but they don’t push Panerai on social medial like other brands. Looking outside our WIS bubble and Panerai is still a very high profile brand in pop/celebrity culture and one look around at pro athletes and top celebrities and it’s easy to see the brand still has its “high profile”image intact for those looking for the larger unique Panerai style.
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11 August 2021, 06:24 AM | #15 | |
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Very limited point of view bro.
Only some watchnerds are interested in this movement issue, 99% of possible new Panerai owners will give a sh## for what movement is ticking in their watch.... Quote:
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12 August 2021, 03:53 AM | #16 | |
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They should just be honest if no one cares… |
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12 August 2021, 05:25 AM | #17 | |
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I feel in the end we all want Panerai to succeed, and we deeply care about the brand. And for that, am honored to be part of this open discussion. Pretty please Panerai, with sugar on top and a cherry, all we're asking is for you to be honest with us. Pleeeeeeease.
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12 August 2021, 07:13 AM | #18 | |
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Agreed as well. And I think people do care, but perhaps Panerai is betting on the "issue" to simply go away. Time will tell. Sent from my iPhone using Tapatalk
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10 August 2021, 10:18 AM | #19 |
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So they're a FASHION BRAND, that makes sense. So why all this talk by them about in-house movement?
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10 August 2021, 10:22 AM | #20 | |
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Well, every luxury watch is a fashion brand to a extent. Panerai has their recognizable design like AP does. You can spot what it is across the room and in that sense you can never take design and fashion out of the luxury watch equation. Look at how many holy trinity brands once used other manufacturers movements as a base. Even Rolex used Zenith to produce the Daytona. Yea, I own a B&R ceramic military with a eta movement (yup a genuine eta) as my beater but my Panerai Carbotech is in another zip code of watch in every aspect and performance. The all in-house P.9000 and then refined P.9010 movement is indeed a superior in-house design from their modified movements. This is when all the players HAD to develop their own in house movements as ETA base movements were only exclusive to the Swatch brand across the entire industry. ETA makes a hell of a movement in many grades as that’s their specialty. Automatic movement evolution only has meaning when put in the proper context of history on how it falls in the time line of industry events. There were also a lot of automatic movement advancements at the same time like double barrel main springs, ceramic rotor bearings, better antimagnetic, etc…. It was the golden age of the large manufactures developing their own in-house movements out of necessity and manufacturing advancements. Look at all the variations Omega had to do with the CoAxial movement and they are a giant. Panerai did very well with their P9000. Panerai design has reached a “iconic” level that gives them that “stand out from the herd” look that doesn’t come around very often. That look is what put them on the map from its military beginnings. My biggest bitch with Panerai is they used that iconic look in Due non-dive watches. This is where Panerai started to pimp their own high end design to establish the lower tier and lower dive performance watches. Kinda what Porsche did with the 912. You get the 911 look with a VW engine at 1/2 the price. In the end, luxury watches are about having a connection to the design or brand. There is no practical reason to pay what we do for these watches other than our own enjoyment and a connection to the time piece.
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10 August 2021, 11:20 AM | #21 |
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I don't have an issue with outsourced movements, but I don't get why they are being misleading about it.
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10 August 2021, 11:53 AM | #22 |
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Mystro, i appreciate your thoughts and in many ways you are right. Am sure their new direction will deliver the type of customers they desire.
I love the well-proven ETA movements, Panerai should proudly state this as The Swatch Group has earned the appropriate accolades. I have a great idea, Richemont should aquire the Swatch Group to make the in-house movement official tho. Imagine the possibilities!
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10 August 2021, 11:55 AM | #23 |
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Panerai In-House Movements - A PAM of Worms
Thankfully most older PAMs are still trading at very reasonable prices. Do yourself a favor and get a 112 or 111 base for $4000. Thats all you really need.
Or- my personal favorite - the PAM192. Who needs gold when you can get Tantalum? |
10 August 2021, 04:23 PM | #24 |
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Here here! Love your 192 too.
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10 August 2021, 11:03 PM | #25 | |
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12 August 2021, 02:14 AM | #26 | |
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Cool watch dude Sent from my iPhone using Tapatalk |
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10 August 2021, 01:08 PM | #27 |
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The lack of pictures in this thread are disturbing to picture books readers like me
Sent from my SM-G960W using Tapatalk |
10 August 2021, 02:14 PM | #28 | |
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I love Panerai almost as much as Rolex, I don’t honestly care about ETA movements, I’m more irked by their lack of transparency. I’m looking at a Doxa recently and don’t mind their ETA movements but they are open and you know what you’re getting right out the gate. Same with various Tudor models. I think it’s important for customers and enthusiasts to sell them the product correctly. It’s just puzzling that media sources and watch journalists don’t report accurate info or regurgitate marketing mumbo jumbo, you would think the horology fans would tell you about the watch’s horology right, nope, they are paid influencer puppets. Honestly, Panerai a company owned as part of a conglomerate, I expect to an extent to over embellish the truth, but I would think and expect Hodinkee to tell me the intricate truth, eff no and ablogtowatch is a giant joke, I’ve heard so much outright wrong information from those clowns it’s hard to realistic think they even care about horology. I’m in love with my Pam 1305 and hopefully God willing I can add 779. Panerai is a very polarizing brand but I love it and it’s connection to Rolex rubs me the right way. |
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10 August 2021, 07:37 PM | #29 | |
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I love the brand as you do. I agree its disappointing to hear things like this come to surface in a less than transparent way. To me its a bit like a jilted lover ... it hurts but I still love you Panerai. Sent from my SM-G960W using Tapatalk |
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10 August 2021, 10:55 PM | #30 | |||
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------------ Perhaps the best course of action is to contact all members of the press you know / can email / call. We need to see reports within the Financial Times, New York Times, CNBC, Bloomberg, etc about Richemont's problems with their Panerai brand and their purposeful misleading (or outright refusal of details) concerning their products. Am sure the financial audience wants to know how their stock might perform under such circumstances as legal problems, perhaps even a Class Action Lawsuit, might be on the company's horizon.
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