1. Panerai tests the waters
In watchmaking, the genesis of a particular model can rarely be pinned down to a specific moment in time; preliminary sketches, prototypes, trial models, initial collections and archives may or may not be acknowledged as such by the company itself.
The Radiomir is no exception. Nevertheless, by longstanding tradition, the date of the very first model is accepted as being 1936. Authentication is somewhat shaky, however, as it relies on a one-off presentation piece (ref. 2533) that remains in the hands of Panerai. The model was brought into service two years later in 1938, with a line produced for the Royal Italian Navy.
2. Optional extra
Today when we think of accessories, we mean optional elements such as the strap. During the Second World War, Officine Panerai saw things differently. The Radiomir itself was considered a diving accessory, alongside depth gauges, compasses and torches. Although all of these accessories are sought after today, they don’t attract quite so much attention at auction. In 2014 a “Panerai Only” sale by Artcurial saw a 1940 depth gauge go for €5,850, and a compass for €2,470. By way of comparison, the watch itself, a Marina Militare ref. 6152-1 from the 1940s, was sold for €103,480.
3. Third world
The world of third-party Panerai suppliers encompasses a Who’s Who of prestigious manufactures. The most famous is Rolex, which supplied the Italian company from 1936 to 1956. Throughout its history, and particularly when it was bought by the future Richemont group in 1997, Panerai forged many technical partnerships, with Angelus (8-day power reserve model), Jaeger-LeCoultre (OP XIII and XIV calibres), Girard-Perregaux (Radiomir GMT/Alarm, base calibre 59), as well as Soprod, Venus (calibre 179), ETA, Lemania, Omega, La Joux-Perret, and even Renaud Papi, for the Radiomir PAM 205 Tourbillon. A number of members of the Richemont group, such as Piaget, have also lent a hand from time to time, particularly with watch dials. Eighteen months ago, Officine Panerai became 100% self-sufficient.
4. Platinum jubilee
The year it was bought by Richemont, Panerai celebrated its renaissance with a model that remains highly sought after today: the Radiomir PAM 21. Only 30 of these watches, which incorporated genuine Rolex movements, were made. Given how rarely they appear on sale it is difficult to estimate how much these timepieces are worth today, but USD 250,000 is a reasonable estimate.
5. All hands on deck
In the 1940s Panerai developed a model with a Radiomir dial built on a Dubois-Depraz base movement, intended for deck officers. It was called the Mare Nostrum. This bi-compax chronograph, which would later be offered on the civilian marketplace, did not achieve the hoped-for commercial success. When Richemont bought the company the collection was reworked (with white, black and blue dials) and production was subsequently stopped, before relaunching in 2010 and again in 2015.
6. Mysterious Perspex
The only prototype from 1936 was fitted with a Perspex crystal. This polymer, more commonly known as Plexiglas, was widely used in the watch industry at the time. Panerai appears to have chosen this material for the first Radiomir prototype. Subsequent models were fitted with a solid caseback and, much later, sapphire crystals made their appearance. For its vintage reworkings, such as the Radiomir S.L.C 3 Days PAM449, Panerai has given Plexiglas a modern makeover.
7. Star attraction
Panerai has achieved the feat of being associated with many celebrities, without ever making them official ambassadors. With perfect dramatic timing, Sylvester Stallone wore his own Panerai during the shooting of “Daylight”, just one year before the company buy-out by Richemont, placing the brand unexpectedly in the global spotlight. Arnold Schwarzenegger, Pierce Brosnan and Robin Williams followed Sly’s example.
