Panerai - The Hong Kong Watch Auction: EIGHT Hong Kong Monday, May 27, 2019 | Phillips

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  • Manufacturer: Panerai
    Year: Circa 2005
    Reference No: PAM 203
    Case No: BB 1171753
    Model Name: Luminor 1950
    Material: Stainless steel
    Calibre: Manual, cal. Angelus 240, 15 jewels
    Bracelet/Strap: Leather
    Clasp/Buckle: Stainless steel Officine Panerai pin buckle
    Dimensions: 47mm Diameter
    Signed: Dial, case and movement signed
    Accessories: Further delivered with certificate dated November 2005, guarantee card, fitted presentation box, wallet, book, setting tool, extra leather strap, hangtag, product literature and outer packaging.

  • Catalogue Essay

    Panerai’s PAM 203 was an instant success when released in 2005, as it was a combination of both vintage and contemporary horology. The timepiece featured a modified Angelus caliber 240 movement, which had remained in stock and unused for years. Panerai spent two years refurbishing the movements and encasing them in their icon stainless steel cushion-shaped wristwatch before offering them in a limited edition of 150 examples.

    To increase their exclusivity, Panerai CEO Angelo Bonati personally selected the true Paneristi who would be offered each watches. The present example number 111 is in excellent overall condition and complete with certificate and presentation box. It is an interesting reminder of the glorious past of Panerai.

  • Artist Biography


    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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Ref. PAM 203
An very fine and rare limited edition stainless steel wristwatch with 8-day Angelus movement, power reserve, guarantee and presentation box, numbered 111 of a limited edition of 150 pieces

Circa 2005
47mm Diameter
Dial, case and movement signed

HK$240,000 - 480,000 

Sold for HK$437,500

Contact Specialist

Thomas Perazzi
Head of Watches, Asia
+852 2318 2001

The Hong Kong Watch Auction: EIGHT

Hong Kong Auction 28 May 2019