Four important vintage Panerai’s went under the hammer for The Hong Kong Watch Auction: XI by Phillips auction house, the destination for international collectors interested in the world’s most important works of art, design, jewels, watches, photographs and editions. 

A superb Panerai Luminor Marina Militare was sold by the prestigious auction house for 1.638.000 HK$ (211.270 US$), over three times the maximum estimated price 

Leading the sale was a superb Panerai Luminor Marina Militare (Ref. 6152/1) with an estimate price of 240.000-480.000 HK$ (US$30.800-61.500) that has been sold at 1.638.000 HK$. This impressive result is an acknowledgement of the historical importance and impeccable provenance of this extremely rare Panerai Luminor Marina Militare, which has now earned its rightful place as one of the most iconic watches of all time. 

“We were thrilled to see these unique vintage pieces at auction” says Jean-Marc Pontroué, Panerai CEO. “Panerai has been entering a new world with high-tech materials and innovation. However, what has not changed in our DNA is our strong Italian roots and legendary history. The four rare pieces listed in the Phillips auction in Hong Kong represent different yet equally important milestones in our history, which are also fundamental to the brand’s development in the present day”. 

The record for sale of a vintage Panerai watch was set at a Sotheby’s auction held in Geneva in 2014. An extremely rare example of a stainless steel Luminor from 1955 was acquired by a Panerai enthusiast who bid the record sum of 425.000 CHF. 

Panerai has a long, well-established heritage that greatly appeals to expert watch collectors worldwide. Its timepieces were initially renowned as outstanding diving instruments originally designed to meet the demanding requirements of the Italian Navy in the late 1930s. 

Thanks to the rarity of its historical models, produced in very few pieces and its manufacturing production, started in 1998, which has kept its limited and numbered production, Panerai has been an important protagonist of auctions especially in recent years. 

The timepieces listed for auction: 

Ref. 6152/1

A very rare, oversized and attractive stainless steel diver’s wristwatch with small seconds, “tropical” dial, made especially for the Italian Navy. 

Estimated: HK$ 240.000 – 480.000 

Sold: HK$ 1.638.000 



An extremely rare, attractive and oversized stainless steel diver’s wristwatch with small seconds, “tropical” brown dial and crown guard. 

Estimated HK$ 380.000 – 780.000 

Sold HK$ 1.386.000 

Ref. 6152/1

A very rare, oversized and attractive stainless steel diver’s wristwatch with crown guard and prototype Plexi bezel. 

Estimated: HK$ 380.000 – 780.000 

Sold: HK$ 1.260.000 


Ref. 6152/1

A very rare, oversized and attractive stainless steel diver’s wristwatch with crown guard. 

Estimated: HK$ 240.000 – 380.000 

Sold: HK$ 907.200 



Coming from a family of watch enthusiasts and pioneers, Kari, as fondly identified by the watch-community, has been a part of this mystical world of horology for almost two decades now. From watch magazines to books to Internationally acclaimed watch shows, Kari has founded, initiated and pioneered various such endeavours.

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