Reply With QuoteI'm no expert, but a Pam 270 with an in-house movement, at 30% off list seems like a stunning bargain! These guys aren't normally discounted.
I'm not too familiar with Panerai other than admiring the 233 for a while. I've just seen a 270 with 30% off list and I'm tempted to jump in with both feet. However, if head rules heart I need to understand how the residuals would be on it. At 30% off am I likely to take a bath on it if I ever decide to flip it??
Thanks!
I'm no expert, but a Pam 270 with an in-house movement, at 30% off list seems like a stunning bargain! These guys aren't normally discounted.
Sounds good! Is there any 112 or 560s?
I'm no expert in the used PAM market, but I've always thought that all watches except Rolex sports models tend to plunge in value once they leave the dealers.... a lot like cars. But 30% off RRP new at the main dealer seems an unusually attractive discount on a watch that costs well into four figures...
In your place I would try a few dealers to see if there's a used one available and at what price. Alternatively trawl the usual places, get the prices being asked and compare those to the RRP and you'll soon get a feel for the market.
Good luck!
Rob
I would say resale value of £6k-£7k if it's new. Dealer would probably offer around the £5.8k mark on it
I went through a Panerai phase (albeit about 12 years ago when they were all £1500 - £2500 new!) and after a couple of years flipped them with the same level of depreciation for Rolex sports -I went through a phase of having one of each at any given time and they were as easy to sell as each other. Things might have changed a bit since the but the Panerai fan base still seems pretty strong, although not that many on this particular forumOriginally Posted by Barryboy
OP doesn't say exactly what price he was offered, but I bet he wishes it was still in the £1500-2000 range!
Rob
I think panerai, with the exception of a few references, depreciate heavily like any other Richemont brand watch like JLC, IWC etc.
There are however certain panerai references that actually go up in value also. You have to pick the right one if that is a concern for you. The 233 is an excellent choice however :)
PAM270 is the 10 day power reserve automatic Luminor GMT looks more or less the same as the 233 (which is manual and 8 days power reserve)
AIRC the list price of a PAM270 is between £10 and 11K so a 30% discount is putting this watch at around £7.5K ish.
The PAM270 is not on the list of those Panerais likely to appreciate and the 30% discount to a certain extent reflects the fact that the 270 whilst being a nice watch has not been as popular as Panerai might have hoped.
Generally Manual wind models are more popular to the "paneristis".
Thanks for the comments everyone. Retail is £10,800 so they were asking just over £7,500. The only other model they had was a 275 which was marked at £12,200 (or £12,800) from memory and was also subject to 30% off.
I was sorely tempted but left it; albeit with the salesman's details and I'm in the area until tomorrow. I need to do some research me thinks!
And those with the most simple dials. (but must be sandwich)
It's a bit strange how you could never get a discount and then shadowman posts a thread last week from andrew michaels in Newark ,and then there's a list that's been offered about with 30%,I've been offered this at my local jewellers
I am starting to be attracted to Panerai now, but there are so many different ones I have no idea why one costs 3k and another 13k with all points between
OP, just buy it :-) That's a fantastic deal and a very desirable watch to people like myself; not quite a "Paneristi" but a person who very much likes the brand, their designs and their unique functions such as the zero seconds reset etc.
I had a 275 and miss it!
Is that pulling out the crown to set the time and the second hand stopping at twelve o'clock? I've had a couple of Longines watches do this (Admirals) and I think I've seen similar in other watches of that era (60s/70s).
I purchased a 441 in November 2014 for £8500 sold it privately about a month ago for £5500. Could get nothing more for it, I would have liked 6 but nothing!
So roughly £500/month depreciation whilst you had it! Can I ask why you sold - just fancied a change?
I think you did pretty well, good job.
You really are a stain on this forum.
If that was new when purchased, then £1,500 was government tax which you didn't pass on in the price when you sold it, so that's 5,500/7,000. Not actually that bad considering you're selling into the private market at the steepest part of the depreciation curve.
...but what do I know; I don't even like watches!
Thanks for pointing that out. I agree, not bad. He only lost £1,500 and he gave £1,500 to the government.
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