era consists in the 4 years (1993-1997) during which a 100% Italian Panerai, manufactured commercial watches for sale to the public. Before 1993 all the Panerais were manufactured ONLY for the Italian Navy (under strict "top secret" conditions) and not available to the public. Because of serious budgetary problems and the lack of the money needed to "give it a go", the watch division of Panerai was sold to the Vendome Group in 1997. During these 4 years they produced 4 or 5 models that became...extremely coveted by the collectors. Some models more than other, to be sure, but almost all of them enjoy pretty much "legendary" status for the Panerai's die hard fans