By Andrew Court
Everyone’s nostalgic for the era they went to high school. For me, that’s the 2000s.
Now in my late 30s, I’m carrying out my teenage dreams. I live in a loft built in 2008, I drive a sports car that came out in 2005, and I wear sockless Todd’s loafers. My biggest regret is that I’ll never be able to BlackBerry message Franky to book bottle service at Bungalow 8.
Of course my watch is a Panerai. More than that I am a fan of the brand; I’m a Paneristi.
Starting in the late 1990s, this Italian military time piece took off. Its ascent was started by Sylvester Stallone, who discovered them while shooting a film in Florence. He liked the oversized look on his muscular arm and was inspired to start a collection. Panerai is indeed something special, a watch that pairs equally well with a suit as it does with an automatic weapon.
Following Rocky’s lead, they became the must have male accessory in Hollywood. Like Rolex today, Panerai watches constantly went up in value, and some models were nearly impossible to get.
Panerai Watches
The apotheosis of Panerai collectability is the PAM 21. This 47mm white gold watch came out in 1997, just after the original Florentine company was forced to sell its watch operation to the Vendôme Luxury Group (Now Richemont Group). The new CEO, Angelo Bonati, decided to relaunch the brand using 60 new-old stock Rolex movements originally produced in the 1940s. In a classic Radiomir case, it was a hit, and today these watches go for well over a hundred grand.
But the moment wouldn’t last. The product range expanded alongside the number of sales outlets. Demand was met and the waiting list evaporated. When the 2008 financial crisis hit, there was no longer an appetite for watches perceived as big and garish.
I am sticking with Panerai; they are set for a comeback because nothing else is like them. The first thing you notice are the unique cushion cases purposefully designed to look like the porthole of a ship. Looking closer you‘ll see the sandwich dial, created by stacking layers on top of each other. The iconic Luminor has a funky crown guard that’s instantly recognizable.
Beyond aesthetics, these watches have a genuinely fantastic connection to military history.
Panerai & Military Service
Giovanni Panerai founded a modest watch shop in Florence in 1860. Under his son Leon Francesco, Panerai, the company, began supplying precision instruments to the Italian Royal Navy, a relationship that would define Panerai’s trajectory. During this era, the company’s products extended beyond watches, including optical and mechanical devices for naval operations.
In 1916, Panerai patented Radiomir, a radium-based luminous compound that allowed instruments and watch dials to glow in low-light conditions. This development was a game-changer for military applications, enabling nighttime and underwater missions.
The 1930s ushered in Panerai’s most significant contribution to horology: the creation of dive watches for the Italian Navy’s elite frogmen. In 1936, Panerai introduced the Radiomir watch, featuring the now-famous 47mm cushion-shaped case, minimalist dial, and obviously luminous markers. To power the watch, Panerai collaborated with Rolex, sourcing hand-wound movements and water-resistant cases to meet the Navy’s requirements. The Radiomir was classified military equipment, issued exclusively to naval personnel during World War II.
Following the war, the company transitioned from Radiomir to Luminor, a safer, tritium-based luminous material that improved functionality. This shift led to the development of the Luminor watch, which introduced the iconic crown-protecting bridge. This distinctive feature enhanced water resistance and became a defining aesthetic element. Like its predecessor, the Luminor was created solely for military use, with production limited to small batches for the Italian Navy.
Panerai in the Wild
When the company decided to start selling to civilians, they already had their key Radiomir and Luminor designs. The brand was primed to take off when Stallone slapped one on his wrist.
Recently, I decided to brush off my Luminor Marina. I tend to buy watches at personal milestones, wear them intensely for a few years, then move on. I purchased my Panerai after returning to the United States following several years abroad. The watch was my companion on many nightlife adventures in New York.
Moving to Miami, I was reminded of the watch. For the first time in a while, I saw guys wearing them. It was always a very specific sort of man, a 40-year-old city dweller who had clearly seen some shit. It hit me that these are refugees from the 2000s, the last cool kids of the pre-smartphone era. While they migrated from LA and NYC to Florida and Texas, their Panerais ride on.
More shockingly, I am now in their cohort. Wearing my Luminor, I remember when Instagram was just some passing fad. I feel cool again, the weight of the heavy steel watch reassuring me that I did, in fact, make the correct decisions.
I was definitely right about this watch, and while they are not popular at the moment, it’s time for a comeback. Something this unique and high-quality deserves the spotlight.
