It is commonly reported that money cannot buy experiences. Panerai does not think so!
What I personally like the most about the watchmaking world is that there is always something new to discover. A couple of weeks ago, the Watchype team had the opportunity to visit some boutiques in Milan, including Panerai, and we found out their exclusive experiences conceived for VIP clients. Panerai’s uncommon approach immediately caught my attention pushing me to do some research and write about it, especially considering my interest towards whatever turns around watches.
The introduction of a new product concept
Back in 2019, Jean-Marc Pontroué, CEO of Panerai, announced that the Submersible line would have left the Luminor collection to become a stand-alone one. This was meant to be where innovative movements and materials would have been channelled to. Along with this novelty regarding the brand collection, he introduced a new program of experiences associated with Submersible limited-edition watches. Briefly, by buying a very special reference, clients can access an extreme experience they would hardly do on their own in their everyday life. Do you know what Italian Marina Militare, the world freediving champion Guillaume Néry and explorer Mike Horn have in common? They have been chosen by the Richemont maison as protagonists of the first three adventures.
The first experience was available for those who bought the limited edition (33 pieces) Submersible Marina Militare Carbotech™ 47mm (PAM00961), as they had the chance to join the Comsubin, the Italian Navy’s special operations unit, for a two-days training in La Spezia. By the way, 33 was not a random number as it is related to the number of gold medals for Military Valour that have been won by Comsubin members.
Still remaining very close to the sea, the second experience was even more exclusive, as only 15 pieces of the Submersible Chrono Guillaume Néry Edition 47mm (PAM00983) were made. The owners of this timepiece flew to Moorea, French Polynesia, to enjoy their once-in-a-lifetime experience by free-driving with the French champion – and brand ambassador – Guillaume Néry, swimming with the whales and wearing their new watch surrounded by a stunning landscape.
The third experience was possible thanks to another Panerai ambassador: explorer Mike Horn. The brand invited the 19 buyers of Submersible Mike Horn Edition 47mm (PAM00985) to explore new places among the ice floes of the Arctic. This specific reference ventured into new paths – featuring a recycled titanium case and a strap and box made from recycled PET – the same way these wannabe explorers tried to defeat every fear and go beyond their limits.
More advertising is needed
Today Panerai cooperation with other realities and VIP experiences are not over. The main collaborations are with Brabus, a German high-performance automotive aftermarket tuning company, and Luna Rossa, an Italian sailboat racing syndicate. However, you can find more if you are willing to dig deeper. In fact, sailing on a classic yacht, the Eilean, to a private island in the Mediterranean and climbing in the Grand Teton National Park with Jimmy Chin were attached to other limited-edition watches. Unfortunately, what is worth noting to me is that these collaborations and related experiences are not so well advertised, or at least not the way I believe they should. It is a shame that most of the watch enthusiasts do not know anything about such experiences before getting in close touch with the brand or visiting the boutique. And I bet the majority of you did not either. At the same time, it is not even easy to find content on the web. Some might think there is no point in advertising something so exclusive if only VIP clients can have access to it. Nevertheless, I am sure this could be a good opportunity for the maison to grow, as new collectors could approach the brand and evaluate some watches which have not been their go to option so far. This simply by knowing more about Panerai initiatives.
Is it worth the difference in price?
Price point is always a sensitive area and Panerai experiences are no exception. The first three limited edition references mentioned above had a retail price of EUR 39,900 (PAM00961 and PAM00985) and EUR 38,900 (PAM00983). Fun fact is that non-limited versions exist as well and their price is roughly half of their experience equivalent. In fact, PAM00979 and PAM00984 retail price was EUR 19,900 and PAM00982 one was EUR 18,900. Non-limited editions are of course different, yet the price increase is truly significant. The main question is: are these exclusive experiences enough to justify a 20K premium? Of course, one who decides to buy a 40K Panerai has a spending power which allows him to opt for the most expensive version without breaking the bank. Also, he is likely to be pushed from real passion (which nowadays is far from granted) and this – as most of us know – goes far beyond any rationale. That being said, I think another aspect should be taken into consideration: could someone organise these adventures on his own? Honestly, I am quite sceptical about it, and even if someone would be so lucky to join the Marina Militare, dive with Guillaume Néry, or explore new lands with Mike Horn, it will not be the same for sure. What makes the difference with Panerai is that you can do all of this in the company of other enthusiasts as you. In addition to the watch, warranty and box, you get something extra, unmaterial and unique. This is what collectors are usually looking for: being close to a brand, feeling themselves part of a community, and creating memories with their timepieces. This is what true aficionados love about this world and what – sadly – too often is missing. This is something you usually cannot buy… unless you have access to a Panerai VIP experience.
