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PAM 00025
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1950 3 DAYS BRONZE 671
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1950 2500M 47mm 3Days Titanium LIMITED PAM00364 Leather
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Marina Militare - PAM00979 - 47mm - Carbotech - New - Full Set
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Azzurro Blue Steel PAM01209 Box and Papers 42mm
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1950 47mm Ceramic PAM508 Limited UNWORN
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中古 オフィチーネパネライ PAM00024 ルミノール サブマーシブル スモールセコンド デイト 自動巻 メンズ 良品 箱付 C#130114
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Submersible: Panerai's Professional Diving Watch

The Luminor Submersible collection contains Panerai's professional diving watches. Top models are water-resistant to 2,500 m (250 bar, 8,202 ft) or made of high-end materials like Carbotech. Limited-edition Submersibles can also be a good investment.

By Chrono24

Panerai's Modern Diving Watch

The Submersible is the most recent addition to the Panerai portfolio, and has close ties to the Luminor collection. Just like its world-famous counterpart, it is dressed in a cushion-shaped case with a distinctive crown-protecting bridge. However, as a modern diving watch, the Submersible also exhibits features seen nowhere else in the Panerai collection.

The most striking feature of the Submersible is its unidirectional bezel used to keep track of your dive time and make sure you stay safe underwater. Another distinguishing detail that sets the Submersible apart from other Panerai watches is the dial design. Panerai decided against numerals, opting primarily for applied hour markers. The 6 and 12 are represented by baton indices, while the remaining hours are marked with dots. It goes without saying that all indices and hands have a coating of luminous material and thus guarantee high legibility even in poor lighting conditions.

The Submersible was made into a standalone collection in 2019, and contains everything from "small" 42-mm three-hand watches in stainless steel to diving watches with an astounding water resistance of 2,500 m (250 bar, 8,202 ft) and timepieces made of premium materials like Carbotech and BMG-Tech. You will also find numerous bronze models. Other noteworthy timepieces include the various sustainable models made from recycled materials that Panerai recently unveiled.

There are also practical GMT watches and flyback chronographs. Among the premium models, you'll find the Luminor Submersible Chrono Guillaume Néry Edition, which pays tribute to French freediver Guillaume Néry, and the S Brabus Black Ops Edition, which was limited to a run of 100 pieces.

5 Reasons to Buy a Luminor Submersible

  • Professional diving watch with a unidirectional bezel
  • Water-resistant to at least 300 m (30 bar, 984 ft)
  • Robust, innovative materials including BMG-Tech and Carbotech
  • Luminor Submersible Bronzo: fantastic financial performance
  • Flyback chronographs and GMT complications available

Price Overview: Panerai Luminor Submersible

Reference number Price (approx.) Diameter, material, caliber
PAM01024 5,700 USD 44 mm, stainless steel, OP XXX
PAM00973 7,100 USD 42 mm, stainless steel, P.900
PAM01389 9,000 USD 47 mm, titanium, P.9010
PAM00799 12,000 USD 47 mm, BMG-Tech, P.9010
PAM00616 13,000 USD 47 mm, Carbotech, P.9000
PAM00615 13,100 USD 47 mm, titanium, P.9100
PAM00982 16,500 USD 47 mm, titanium, P.9100
PAM00968 17,900 USD 47 mm, bronze, P.9010

How much does the Panerai Submersible cost?

The entry-level models in the Submersible series run between 4,800 and 5,700 USD on Chrono24. Older stainless steel models such as the ref. PAM00024 and its successor, the ref. PAM01024, fall into this price category. The titanium ref. PAM00025 sells for similar sums.

The majority of Submersible models demand between 8,000 and 10,000 USD, including popular models such as the Submersible 1950 Amagnetic (ref. PAM00389) or the Submersible Blu Notte (ref. PAM01068), which sports a blue dial and matching bezel.

Chronographs can come in anywhere between 12,800 and 16,800 USD. You'll also need to invest a similar amount for a watch with a GMT complication or crafted from Panerai's composite materials, Carbotech and BMG-Tech.

Watches with bronze cases are rising in value, so you'll need to spend between 21,700 and 26,600 USD to call one of these timepieces your own. However, the top spots for the most expensive references in the collection are held by the many limited editions. These start with the S Brabus Black Ops for 44,500 USD and quickly climb to just south of 60,000 USD for the ELAB-ID made of EcoTitanium. The model with the heftiest price tag is the elaborate EcoPangaea Tourbillon GMT Mike Horn Edition, which has a list price of an eye-watering 189,000 USD.


Entry-Level Submersible Models

The Submersible references PAM00024 and PAM01024 are the most affordable watches in the collection. Although Panerai ceased production some time ago, you'll still find a rich selection of unworn examples on Chrono24. These stainless steel, 44-mm timepieces come on a rubber strap and have a depth rating of 300 m (30 bar, 984 ft). The steel unidirectional bezel has a satin finish and a luminous zero marker. The black dial sports glowing dot indices and Arabic numerals at 6 and 12 o'clock.

The ref. PAM00024 is powered by the automatic caliber OP III, while the OP XXX keeps the ref. PAM01024 ticking. Both movements are based on ETA's 7750, but don't offer a chronograph complication. They do, however, feature a small seconds subdial at 9 o'clock and a date window directly opposite at 3. Both movements are technically the same, except that the OP III has a 42-hour {lex-powerreserve,power reserve}, while the OP XXX offers 50. You can buy a Luminor Submersible ref. PAM00024 in mint condition for around 4,800 USD. The PAM01024 costs slightly more at roughly 5,700 USD.

Affordable Submersible Models With 42 and 47-mm Cases

At 42 mm, the Submersible 1950 3 Days PAM00973 is actually one of the smallest models in the series. Its design is very similar to the ref. PAM01024, although Panerai decided against the date magnifier at 3 o'clock, and added "REG. T.M." to the crown-protecting bridge. This inscription means that this watch belongs to the Luminor 1950 series, which was, as its name implies, inspired by timepieces from the 1950s.

Inside the case, you'll find the in-house caliber P.900. However, you will find older versions using the automatic OP XXXIV, a caliber based on a movement from ValFleurier. Both offer a power reserve of 72 hours. If you're interested in buying one of these models, plan to spend almost 7,100 USD for a watch in mint condition.

The ref. PAM00683 is another fantastic option. This timepiece has the same inner workings as the PAM00973, but boasts a ceramic bezel inlay. Prices on Chrono24 come in at around 7,900 USD.

The Submersible ref. PAM01305 is ideal for fans of statement-piece watches. It has the same design as the 42-mm PAM00973, but measures a whopping 47 mm across. Panerai powers the watch with the caliber P.9010, a larger version of the P.900. This movement has a three-day power reserve, and the watch as a whole demands around 7,600 USD.


The Blue Submersible

There are several models in the Submersible collection that flaunt blue details, such as the Submersible Blu Notte PAM01068. Panerai unveiled this 42-mm stainless steel watch in the summer of 2021. By virtue of its blue sunburst dial and blue bezel inlay, it is one of the more colorful editions in the series. It is also the first watch of this size that the manufacturer paired with a link stainless steel bracelet.

In terms of technology, the Blu Notte is virtually the same as its 42-mm counterparts; it is outfitted with the tried-and-true caliber P.900, which provides the watch with its date display, small seconds, and 72-hour power reserve. Listings for this timepiece on Chrono24 sit at around 9,500 USD.

If you're looking for a more low-key option, check out the Submersible Azzurro ref. PAM01209. This model was introduced in 2020 and shares the same caliber as the Blu Notte. However, you'll notice that the only royal blue accent on this model is the bezel; the dial and rubber strap are black. This reference is limited to a run of 500 pieces and will set you back around 10,800 USD.

You can save a couple of thousand dollars by opting instead for the ref. PAM00959. Panerai launched this model in 2019, giving it a gray dial, blue rubber strap, and the OP XXXIV caliber. Prices come in at just south of 8,000 USD.

High-Tech Materials and Blue Details

The Submersible Carbotech ref. PAM00960 is another 42-mm watch in the collection. One stand-out feature is its Carbotech case. This composite material is based on wafer-thin, compressed layers of carbon fiber. The result is a unique shadowy finish, meaning no two watches are alike. Carbotech is also very robust and durable: the PAM00960 can dive to a depth of 300 m (30 bar, 984 ft). Blue luminous material on the hands, indices, and bezel markers provide a nice contrast to the black dial and dark hue of the case.

The prestige of this innovative material is reflected in the watch's price: You will need to invest a good 13,800 USD in one of these watches. For 100 USD more, you can buy the 47-mm Submersible Carbotech. The only difference between the two models is their diameters.

Another one of Panerai's premium materials is BMG-Tech, a metallic glass alloy of zirconium, copper, nickel, aluminum, and titanium. Thanks to its disordered atomic structure, BMG-Tech is particularly durable and highly resistant to corrosion. You'll find this material in the Submersible BMG-Tech ref. PAM00692 and ref. PAM0799. Both watches have a diameter of 47 mm, are powered by the caliber P.9010, and come on a black, dark blue, or light blue rubber strap.

The models differ only in their appearance: Both the case and bezel of the PAM00692 are made of BMG-Tech. It has a dark blue dial with a subtle sunburst finish. Panerai only crafts the case of the ref. PAM00799 out of BMG-Tech; the bezel is made of Carbotech. What's more, the dial is black with blue luminescent indices and hands. Depending on which model you choose, you can expect prices to come in between 10,500 and 12,100 USD.


Submersible Chrono with a Flyback Function

In terms of mechanical complexity, models with a flyback chronograph are the highlights of the Submersible collection. These timepieces get their power from the automatic in-house caliber P.9100, which has either a date display or 12-hour counter at 3 o'clock. This movement keeps track of both the elapsed seconds and minutes via two additional central hands. Most chronographs measure the elapsed minutes using an extra subdial.

The Luminor Submersible Chrono has a 47-mm titanium case. Its bezel is also made of titanium, with certain models sporting a ceramic inlay. The chronograph push-pieces are located on the left side of the case at 8 and 10 o'clock.

If you're interested in buying one of these chronographs, you'll need to invest between 12,600 and 13,200 USD.

Special Editions of the Submersible Chrono

In addition to the standard models in the collection, there are also a number of interesting special editions Submersible Chronos. For the most part, these versions only differ from their sibling models in terms of design. Dimensions, material, and technology remain untouched. A great example is the Submersible Chrono Paltrinieri Edition PAM01163, which was made as a tribute to Gregorio Paltrinieri, the famous Italian swimmer. It boasts a bezel complete with black ceramic inlay, a dark blue dial with horizontal stripes, and a blue rubber strap. The crown is also blue. The dial is decorated with a symbol of a swimmer above 6 o'clock. Panerai produced only 27 copies of this watch, so it is a rare find on the secondary market. The list price comes in at around 30,000 USD.

The Submersible Chrono Guillaume Néry Edition ref. PAM00982 is another special edition, but this one is much easier on the wallet. Designed by Panerai in collaboration with French freediver Guillaume Néry, the watch features a blue ceramic bezel inlay and a gray dial with a fine-grained texture. A dark blue rubber strap holds the chronograph securely on the wrist. Listings for the ref. PAM00982 on Chrono24 cost roughly 16,500 USD.

Panerai produced the Submersible Chrono Slytech ref. PAM00225 in honor of Sylvester Stallone. It is an interesting collector's item, and not only for fans of the movie star. Unlike current Submersible models, the Slytech is powered by the caliber OP XII. This is evident from the subdials for the elapsed minutes, hour counter, and small seconds at 3, 6, and 9 o'clock. The push-pieces are located on the right of the case on either side of the large crown-protecting bridge. You will need to have around 16,000 USD on hand for a Chrono Slytech in good condition.


Submersible Bronzo: A Popular Choice

The Luminor Submersible Bronzo is one of Panerai's most popular watches thanks to its unique bronze case and strictly limited numbers. To date, Panerai has released five limited-edition models. The first Bronzo, then part of the Luminor Submersible series, premiered in 2011. This timepiece, the 47-mm ref. PAM00382, was limited to a run of 1,000 pieces and quickly sold out. It comes with a green dial and the caliber P.9000. While the PAM 382 had a list price of 10,200 USD, this watch changes hands today for around 24,500 new. Pre-owned models demand only slightly less at around 23,500 USD.

The second model followed in 2013. Like the previous edition, only 1,000 copies exist of the ref. PAM00507. This bronze watch also has a green dial, while the caliber P.9002 provides it with a power reserve indicator. At its introduction, it had a list price of 11,500 USD. Today, this timepiece demands around 23,500 USD on Chrono24.

Panerai announced the third Bronzo in 2017: the ref. PAM00671. Once again, it would be limited to a run of 1,000 pieces. The main feature of this watch is its blue dial. The automatic caliber P.9010 ticks away inside this timepiece and lends it its small seconds dial and date display. At its peak, this watch was selling for over 30,000 USD on Chrono24, a huge jump from its MSRP of 14,400 USD. Prices have since settled at about 23,500 USD, although you can save around 1,000 USD by purchasing a pre-owned example.

The fourth Submersible Bronzo arrived in 2019 and bears the reference number PAM00968. Design details include a brown bezel and dial. Panerai only produces 1,000 of these timepieces each year, some of which they sell online. The PAM00968 has a list price of 17,800 USD. Never-worn versions sell for closer to 20,500 USD on Chrono24.

The most recent addition came in 2021 in the form of the Submersible Bronzo Blu Abisso ref. PAM01074. With its blue dial and small seconds at 9 o'clock, the Blu Abisso could be mistaken for a remake of the Bronzo from 2017. However, there is one crucial difference: a diameter of 42 mm, making it a whole 5 mm smaller than its counterpart. Of course, the small case also requires a more compact movement. Panerai uses the P.900, which is based on the P.9000 series and offers the same functionality as the larger calibers. The price for a Submersible Bronzo Blu Abisso is around 18,500 USD.


Submersible Models With a Second Time Zone

There has been a surge in demand for watches with GMT complications in recent years. Panerai offers several watches in the Submersible collection that display a second time zone in addition to the local time. One example is the Submersible Luna Rossa PAM01039. This 47-mm timepiece is made of black Carbotech and has a dark gray canvas dial. The white luminous indices and hands, the red tip of the GMT hand and the red small seconds hand, create a nice contrast. You can call this watch your own for around 17,500 USD.

Panerai only produced 100 copies of the Submersible S Brabus Black Ops Edition ref. PAM01240. This watch shares the same case as the Luna Rossa, but the inner workings are much more elaborate, namely the fully skeletonized in-house caliber P.4001/S. This movement features a date display at 3 o'clock and a 24-hour display at 9 o'clock. There is a power reserve indicator on the reverse side. This watch also features red color accents on the tips of the hands. Due to the small number produced, this model is extremely rare. The list price is 49,200 USD.