By: Maltie : June 8th, 2016-02:32
I guess the "golden" days of the notorious PAM21 are over......

And it is already too much!!! [nt]

 By: Alkiro1 : June 8th, 2016-02:50
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The 21 has been...

 By: sergio : June 8th, 2016-03:58
caught in the "bubble" of the Panerai..golden general. Only 10 years ago, all the T-dials and some LE, were the...graal...of a lot of people. The bubble burst, the fashion faded in Asia (responsible for the bubble) and the prices..rightfully..came down. Still and all, if I decided to spend "that kind of money" for a "Swiss" Panerai, the 21 (with it's Rolex movement is, de facto, a 3646 in platinum) and the 267 would be very high on my list.  smile 

Good to see you around Sergio ;)

 By: Makilla : June 8th, 2016-10:32
Been quite some time buddy! Hope all is well with you smile

You're friend

 By: sergio : June 8th, 2016-18:55
I still visit this forum daily. Haven't seen you around much. On occasions I see some of your posts on FB. I'm not doing well, I'm doing spectacularly and
of course I hope it's the same with you smile Ciao

That's great to hear man :)

 By: Makilla : June 9th, 2016-12:15
Well you're right, I'm not around lately. Have so many things going on at the moment.
Are you still going to GTG's in Firenze?
I haven't been to that place for some time now. 
Good talking to you buddy! Ciao 

I am with you. I always loved the 21. But at the wrong moment. ;) [nt]

 By: amanico : June 8th, 2016-22:49
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Quite a change in only 6 months

 By: alphabeta81 : June 8th, 2016-10:13
Recall the one at Phillips HK Lot 328 sold for around $100k only 6 months back. This auction seemed to have weak interest in many other pieces too -- even a Patek 3448 with extremely rare bracelet had a $80k hammer price. So I wonder if this was just a one off, everyone and their wallets exhausted after Geneva and HK auctions in May.

Here is the Auction of lot 328 Panerai PAM 21 more than 100K USD - SOLD FOR HK$812,500

 By: Bill : June 11th, 2016-23:00

Δ Σ 328


A rare and important platinum wristwatch wirh Rolex movement
沛納海,罕有及重要,鉑金腕錶配勞力士機芯,“Radiomir”,型號PAM 0021,約1997年製Manufacturer: Panerai 
Year: Circa 1997 
Reference N PAM 0021 
Case N 34/60 
Model Name: Radiomir 
Material: Platinum 
Bracelet/Strap: Brown Panerai crocodile leather strap 
Clasp/Buckle: Platinum Panerai buckle 
Dimensions: 47 mm. diameter
Signed: Mechanical, 618, 17 jewels
Estimate HK$600,000 - 800,000 SOLD FOR HK$812,500

Which is 100 K USD. More conform to its value. [nt]

 By: amanico : June 11th, 2016-23:12
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The HK auction was bad in every way on every lot except a few. It means the market there is down. Sell in Geneva!!!! [nt]

 By: Bill : June 11th, 2016-23:14
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If Anthony offered it to me in the 60k range I would not hesitate. But the auction is what it is.

 By: Bill : June 11th, 2016-23:20
too bad the 203 only got in the 70k as it too is a unique watch that traded over 100k for a while.
The end result today all the "Neo classic" grail watches 127 - 217 249 -232 203 - 21 all have now suffered and made to compete with the 2000 new reference.
I hope real collectors will goo fro the real old grail watches as they will never make them again except ???? O - out of series. LOL

I think you are right. Too many new references, too many OOR.

 By: amanico : June 12th, 2016-00:07
Now would I complain with the 372 and 587? No! 

They are the new champions. 

I would love to add them in my collection. 

But I am more surprised to see the 21 and 203 going down in a such strong way. Their movement ( Cortebert for the 21, Angelus for the 203 ) made them very special. 



Wow!! I never expected to see this!

 By: Makilla : June 8th, 2016-10:30
A PAM21 selling for less than 70k? Who would have thought?
Panerai golden days are over and things are getting even worse with the brand. It's losing the secondary mkt trust and most people aren't interested in investing in it anymore.
Too bad because in the end it's a brand with such a rich history.

That's some bad news for the former owner. Unless the reserve has not been reached. [nt]

 By: amanico : June 8th, 2016-12:01
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I was thinking the same...

 By: ocwatching : June 8th, 2016-16:29
timing is everything...hope the owner had a reserve set

Says "Sold without Reserve"....gulp. nt. [nt]

 By: eric_s : June 9th, 2016-05:19
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Ouch. I think I know the owner. [nt]

 By: amanico : June 9th, 2016-06:04
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Wow, the Panerai bubble has burst

 By: andrevmsilva : June 8th, 2016-12:09
Nowadays we can even find the once "hot" Panerai 127 Fiddy for sale in some sites.
As said, I think that the cooling in the Asian market is responsible for this price drop, but not entirely.
I also blame the countless "limited" editions released year after year.


I'm noticing a soft watch market across all at the moment! [nt]

 By: fai9al_429 : June 8th, 2016-16:20
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A keen observation of reality some seem to have missed.

 By: Chuck A : June 9th, 2016-11:11

And, let's remember what the Pam 21's original retail sales price was when this watch was released. If this seller was the original owner, he still did well with this sales price, although not as well as if he had sold two years ago. This message has been edited by Chuck A on 2016-06-09 11:12:42

True, but most of the Pam 21 owners got it AFTER. [nt]

 By: amanico : June 9th, 2016-23:29
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