I bought a PAM 111 from an authorized dealer last June. What a mistake! The watch quit working after about two months so I returned it to the dealer. They checked it and said the amplitude was way too high, whatever that means. They sent it to Panerai and they retuned it in about six weeks with no charge but also no explanation of what they had done to it. It quit working again in a couple of weeks so I took it back again. The dealer called me a couple of weeks later and said Panerai had voided my warranty because the watch had been damaged and they wanted $500 to repair it. The watch had never been touched by anyone but me and I know it had never been damaged. I complained to the dealer and they paid the $500 repair charge. The dealer did right by me, but I would never buy any Panerai product ever again. I was too embarrassed to admit to my friends that my $5,000 watch is a piece of junk.