Wright Auction

Italian luxury watch manufacturer Officine Panerai was founded in 1860 by Giovanni Panerai in Florence, Italy. The company, now headquartered in Geneva, Switzerland, designs, manufactures, and markets luxury watches worldwide. Panerai's history is closely tied to the Italian Royal Navy, for which it supplied precision instruments like gun sights illuminated with radium-based powder. During World War II, Panerai watches, designed by Rolex SA, were used by the Italian frogmen of the Decima Flottiglia MAS. Notable products include the Luminor and Radiomir wristwatches, characterized by their robust design and high-quality craftsmanship.

Over the years, Panerai has introduced various models and innovations. In the 1930s, the company produced its first diving watches for the Italian Navy, incorporating luminescent materials for underwater visibility. In the 1950s, Panerai developed the iconic Radiomir and Luminor models, which became standard issue for the Italian Navy. By 1993, Panerai began targeting the civilian market, launching its first collection for public sale. The brand gained international recognition in 1997 when it was acquired by the Richemont Group (formerly the Vendôme Group), leading to a repositioning as a luxury watch brand. Panerai has since expanded its product lines, introducing special editions and collaborations, including a partnership with Ferrari.

The early 2000s marked significant milestones for Panerai, including the opening of its manufacturing operations in Neuchâtel, Switzerland, and the launch of its first in-house movements. Panerai has continued to innovate, introducing new calibers, materials, and designs. The brand's dedication to its maritime heritage is evident in its special editions and partnerships, such as the restoration of the sailing yacht Eilean and tributes to historical figures like Galileo Galilei. Today, Panerai remains a prominent player in the luxury watch market, offering a range of models across its Historic, Contemporary, Manifattura, and Special Editions lines.