Panerai Submersible - new vs used prices. Not much different.

[watchmavan]

Originally Posted by chris nyc

OP, you are trying to paint a picture here with one brush.... You are way off on many of your arguments. To sit here and speak about the panerai "used market" without specific model references, is just kinda foolish and pointless. Different references vary in their production numbers each year, some are limited Editions, some are special editions, some are produced annually, some are produced one time.

Boutiques do not discount, that's first and foremost, unless you have a long buying history and even then, a discount is rare. Boutiques also now ALL charge sales tax. So don't forget to figure that in on your new piece.

The 8 year warranties are all transferable, a point that should be made. So if you find a used piece you like, with the 8 year, it will transfer, regardless of private sale or from a reputable watch reseller website.

A lot of luxury goods are up in value considerably right now, across the board....the used panerai market is no different. I can site specific pieces that i looked at a year or more ago, that are now selling for 10-15% more than when i looked at them. The demand IS there and the supply is the same or lesser.

To really discuss this, why don't you site some specific models you're interested in, that would be a more relevant discussion.

Some interesting points but discussing a brand and it's general pricing is in fact common across the industry. If the buyer is in fact looking for a specific model then your argument is relevant. Otherwise this happens everywhere.


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[Kilometerman]

Originally Posted by michaelodonnell123

Show me that supply and demand is actually working.

And

Usually "supply and demand" dictates market prices, but clearly that is not the case here. There is certainly more supply than demand and still prices are roughly equal for used and new. I basically have no compelling reason to buy a used one.

If supply and demand aren’t driving prices, what is? Supply = Demand at the market clearing price. Sure, there’s a spread between the bid and the offer, and some transactional costs.

The boutiques are fully stocked and ready to sell to anybody who wants one. Unlike Rolex, there is NO shortage of Panerai Submersible watches

There’s no “shortages” of Rolex at the market clearing price. There’s a shortage of them at MSRP. Supply and demand aren’t defined by a single point. It’s supply at a price, and demand at a price. And in a free market they usually find each other.

Additionally, I don’t think the Panerai boutiques are all fully stocked. It’s not entirely empty like Rolex/AP/PP, but I’m told that sales last year were very strong, and boutique inventories are as lean as they have been in recent years.

The funny thing is that Panerai has actually managed to sell the greatest number of watches at essentially the highest price the market can bear, without causing significant and immediate depreciation. Their MSRP prices are nearly inline with the aftermarket.

This is a good thing as a collector! The alternatives are either:

1. You can’t get the watches you want in the timeframe you want, but when you get lucky every so often you feel like you’ve made money on paper.

2. You can buy whatever you like, but the resale value is garbage.

[DJ2020]

Originally Posted by shammad10

There are some PAM683 available in the UK for £3500 discount.

DANG, That's the model I am looking at right now. Marked $10K at the moment. I will see if I can get a discount! Normally I do for most models unless there "hot". At present my AD is not offering discounts on Omega, Patek and Tudor. And of course Rolex. But will offer a discount on GS and Longines for a select few customers. All the "lower" end stuff a discount is standard. Seiko, Tissot, Bell & Ross, Tag and Hamilton.

[shammad10]

Originally Posted by DJ2020

DANG, That's the model I am looking at right now. Marked $10K at the moment. I will see if I can get a discount! Normally I do for most models unless there "hot". At present my AD is not offering discounts on Omega, Patek and Tudor. And of course Rolex. But will offer a discount on GS and Longines for a select few customers. All the "lower" end stuff a discount is standard. Seiko, Tissot, Bell & Ross, Tag and Hamilton.

Sorry I should have made it clearer, that is used.

However I have bought 2 Panerai’s new with around 15% discount recently.

[roger.bolton]

Yes, I think circa 15% is where it is at the moment.

[Mystro]

Not that it matters, but my Pam 661 Carbotech has gone up in value from what I paid 2+ years ago. It has been discontinued last year with the Gen 1 P.9010 movement.
I have noticed on the Carbotech models in general, once they take that first hit of depreciation, they hold firm and rise gradually. A fundamental reason for this is Carbotech models generally look mint to brand new their entire life. I believe production numbers are lower. As mentioned above, the model of Panerai makes a huge difference in where it holds its value on the secondary market.

[watchmavan]

In my experience the only people that complain about prices are the people that want something and don't want to pay the asking price. The fact is that the asking price is sustainable otherwise the company would go out of business. These same people aren't getting online complaining about the products they don't want.


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[Trenden]

I'll just add that on YouTube and forums like these...Panerai gets a lot of hate. But the average person doesn't spend any time watching watch videos on YouTube or on watch forums and they still see Panerai as a "top tier" brand in league with Rolex and Cartier (brands with famous names). I fly all over the world for work and people get excited when they see my Rolex Batman and equally excited by my PAM 111. They don't know anything about it, but recognize the crown guard and say, "cool watch" or "I've been thinking about getting one." To those people, the average folks that aren't really into watches but would love to own a nice one, perhaps for status, perhaps to feel they've "made it" or perhaps to celebrate an event in their lives, perhaps just to have something special on their wrist, Panerai is still viewed as a great brand that one aspires to own one day.

Omega and Breitling don't seems to get much of a reaction or excitement for some reason. Not sure why. Brand perception is an odd thing.

[chris nyc]

My 2021 1389 Submersible is for sale in case any sub-lovers are interested?

https://www.rolexforums.com/showthread.php?t=855434