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The Panerai company is not Swiss, but Italian and, until fairly recently, was known as a watch manufacturer only to selected military and naval clients. In fact the first civilian versions on general sale were launched in 1993 by which time Panerai had been producing the military models for over 50 years! Today the oversize watches with their impressive luminous dials and unique winding crown sealing lever are being worn all over the globe and the earlier models, particularly the genuine military issue ones, have become sought after timepieces that hold their value. The company had its beginnings with founder Giovanni Panerai (1825-1897) in Florence. The company was originally a watchmaker and retailer of quality imported Swiss watches. Their early catalogues were impressive and contained Rolex, Vacheron Constantin, Longines, Angelus, Buren, Movado and Patek Phillipe watches, immaculately described and offered for sale to the Italian public. Giovanni was succedded by his son Guido Panerai who, upon his death in 1934 was succeeded by Guiseppe Panerai (1903-1972). Guiseppe Panerai is of particular interest to watch aficianados because he devoted himself and the company's resources to supplying specialist instruments to the Italian Navy and the legendary Radiomir and Luminor military wristwatches were his creation. These watches were part of a secret miltary project and came into production, after secret trails, in around 1938. They utilised a case and movement made exclusively for Panerai by none other than Rolex in Geneva! The early versions were further developed to incorporate the unique highly luminous dials (a Panerai patent) so naval divers could see them in poor light under the surface. These luminous characteristics were originally used for illuminating weapons sights (such as the Radiomir Ronconi sights) that allowed successful use of weapons in total darkness. As diving watches, the early 1940s Panerais were remarkable in achieving a water resistance of up to 200 metres which, at that time, was an absolute record. Today the Panerai shop 'Orologeria Svizzera' still exists in Florence and is owned by Maria Teresa Abetti Panerai, Guiseppe's widow. The Panerai Company and brand was purchased in 1997 by the Vendome Luxury Group.
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