As Panerai begins to showcase its newly attained 'manufacture' status in its collection, the capabilities of the new in-house Panerai movements are being translated into significant benefits for the Panerai enthusiast. The Panerai Luminor 1950 10 Days GMT owes two extremely practical functions to it's Panerai manufacture Caliber P2003 movement: it displays a second time zone when the wearer finds that meaningful; and its power reserve exceeds 10 days.
Suffice it to say that the rise of the Panerai brand has been astonishing to even the most critical of watch industry observers. As one of Richemont's premier houses, Panerai's sales results now routinely eclipse even the most well recognized Richemont brands that have been household names for generations. While many 'old-school' Panerai collectors wince each year as Panerai introduces its new creations, none would argue that, on the whole, Angelo Bonati (CEO) and his team at Panerai have always kept the history of the brand at the forefront of the design process. Routinely , Mr. Bonati connects with collectors and fans of the brand to exchange ideas and get feedback.
Even the name of the Panerai Luminor 1950 10 Days GMT is big. Most will simply call it the PAM 270 (it's ref.). The watch itself is substantial in every way yet exceptionally comfortable on the wrist and very easy on the eye. Of course, instantly recognizable and exclusive to Panerai; is the crown locking device that occupies virtually the entire right side of the stainless steel case. The whole of the case is carefully brushed with a circular pattern around the bezel and vertical patterns on the lugs and sides. The bezel itself is high-polish and provides a perfect amount of contrast between the matte black of the dial and the satin finish of the rest of the case. Everything on the dial is arranged logically and is very easy to read in all light conditions. The subsidiary seconds hand at 9 o'clock has a display at it's 3 o'clock that indicates the time of day (AM or PM) in the 'home zone'. A date display at 3 o'clock on the main dial indicates the date in luminous numbers on a black field. The remaining power reserve is indicated via a laterally moving indicator aptly beneath the '10 DAYS' monachre and positioned just above 6 o'clock.
The crystal on the 270 is domed sapphire and anti-reflective; it creates some additional dial depth and dimension and compliments the already striking lines of the 10 Days GMT perfectly. The caseback is also see-through owing to another sapphire crystal that's affixed by a screw-down bezel.
When you're spending time in a timezone other than your own, the GMT displays your home time with it's arrow tipped hand that's synced with the AM/PM display that I previously mentioned. The idea being that you likely know whether it's 3 in the morning or 3 in the afternoon where you are standing (hopefully anyway!) but if you are on an extended journey, you may lose track of the days and nights back home. When you are on your home turf, the GMT hand tucks completely beneath the hour hand to become invisible. Another nice feature owing to the caliber P2003 is the ability to re-zero the seconds hand (sub-dialed at 9 o'clock) by moving the crown to the third position (all the way out). One step beyond 'hacking', this makes synchronizing the PAM 270 to atomic time even easier.
At it's base, a Caliber P2002, the P2003 movement incorporates an automatic winding system. The 'governing' of the P2002 to 8 days of reserve power was also dispensed with resulting in the excess of 10 days reserve that the P2003 now enjoys. Panerai limited the 2002 to account for the fact that many manually wound watches will be intermittently wound (so the torque range can vary widely). With the addition of the automatic module, the range becomes much narrower allowing the full exploitation of the reserve capabilities without any negative consequence. The P2003 movements performance is excellent and the fit and finish are exceptional with more than the expected attention to detail.
Equipped with an alligator strap that's outfitted with a bottle-opener style buckle, the 270 is very comfortable on your wrist. If you're new to big watches, the learning curve is actually very short when it comes to getting comfortable with wearing a Panerai.
At just over $14,000 US, many will question the value proposition of the 10 Days GMT. Certainly, this has been an ongoing theme on the various Panerai forums as collectors and devotees of the brand wrestle with the tool watch vs. technical masterpiece dilemma and skew it against the price curve.
With the limited production and rampant demand intrinsic to the brand, Panerai watches rarely depreciate in value. Even the early critics of Panerai now readily admit that all assertions that the popularity of the brand, that has come to be synonymous with the 'big watch', was just a passing fad have now been disproved. Panerai is a carefully managed force with some significant history in the marketplace now that makes it much easier to justify the price of admission.
If I couldn't refer to the historic prices of Panerai watches and compare the MSRPs and secondary market pricing, I'm not sure that, even with the in-house movement, I could make a very convincing case for the Panerai Luminor 1950 10 Days GMT being a $14,000 watch. But I can and so I will. If history is any guide, it will be hard to lose much money at all if you purchase this watch, enjoy it thoroughly, and sell it at some point in the future. It's hard to miss when you buy a Panerai!