Panerai - The Geneva Watch Auction: SIX Geneva Friday, November 10, 2017 | Phillips

The Geneva Watch Auction: SIX

Geneva Auctions 11 - 12 November 2017

  • Manufacturer: Panerai
    Year: 1997
    Reference No: PAM 00021
    Case No: 2/60
    Model Name: Radiomir
    Material: Platinum
    Calibre: Manual, cal. 618, 17 jewels
    Bracelet/Strap: Alligator
    Clasp/Buckle: Platinum pin buckle
    Dimensions: 47mm. Diameter
    Signed: Dial signed and case signed, case further engraved 2/60, movement signed Rolex
    Accessories: Accompanied by Panerai original certificate, fitted presentation box and key, additional Panerai platinum caseback and a book "I Mezzi d'Assalto della Xa Flottiglia Mas" by Marco Spertini and Erminio Bagnasco.

  • Catalogue Essay

    The PAM 21 is a special edition wristwatch from 1997, equipped with a vintage Rolex 618 movement. Made in 60 pieces, it was the first special edition wristwatch that Richemont produced following the conglomerate's purchase of the brand.

    Legend goes that Angelo Bonati found 60 brand new Rolex movements in stock after taking over the storied house. Panerai subsequently cased these caliber 618 movements in platinum, and provided a sapphire case back, which enabled the wearer to admire the movement, along with a classic solid case back. The watch pays tribute to reference 3646 - the original dive watch used by combat swimmers. Apart from housing the same movement, it shares characteristics such as fixed lugs and similar case proportions. Even the dial is a rich and saturated brown tone, mimicking the way Panerai dials age over time. Unlike vintage Panerai watches, the movements were now stamped cal. 618.

    Of particular note is the case number of this watch. Numbered 2 out of 60, it is the earliest known example to come on the market. It is rumored that the very first wristwatch, number 1/60, is owned by someone in the upper echelons of the Paneristi community or at Richemont. To offer the second is nothing short of surprising and remarkable.

    An instant hit, the watch sold out within two weeks and became a cult classic. Today, it is as popular as it was during its original release. It is almost inconceivable that Panerai will ever release a similar watch like this again, making the present watch even more desirable.

  • Artist Biography

    Panerai

    Italian • 1860

    Known for its robust designs and large case sizes, Officine Panerai was established in 1860 by Giovanni Panerai in Florence, Italy. Around 1900, Giovanni's grandson Guido Panerai took over, and Panerai became the supplier to the Regia Marina — the Royal Italian Navy. After supplying the navy with high-precision instruments for a number of years, Officine Panerai created Radiomir, a radium-based powder that gives luminosity to the dials of sighting instruments and devices. By 1936, the Royal Italian Navy approached Panerai again with the request to design a watch resistant to extreme underwater conditions. The watch they created became known as the "Radiomir".

    Panerai's watches made during the early twentieth century era were comprised of cases designed and manufactured by Rolex SA, with Cortébert, a Swiss manufacturer, supplying the majority of their movements. The most recognizable designs from the firm are the Radiomir and Luminor. To date, vintage models from the first half of the 1900s, such as the reference 3646 and 6152 models, remain the most desirable among collectors.

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208

Panerai

Ref. PAM 00021
A highly rare and very attractive limited edition platinum wristwatch with Rolex movement, additional case back, certificate and fitted presentation box

1997
47mm. Diameter
Dial signed and case signed, case further engraved 2/60, movement signed Rolex

Estimate
CHF30,000 - 60,000 
€25,900-51,800
$31,000-62,000

Sold for CHF125,000

Contact Specialist
Alexandre Ghotbi
+41 22 317 81 89
aghotbi@phillips.com

The Geneva Watch Auction: SIX

Geneva Auctions 11 - 12 November 2017