Panerai Luminor Ref. 5218 201/A - Pre-Vendome Logo Dial w/ Box & Papers

Panerai is a brand that, while probably needs no introduction, does have an interesting and misunderstood history. That is to say, that while its origins have credible ties to the Italian Navy, the Panerai of today is a very different company than how things began in the early twentieth century.

For the first seventy-five years or so, virtually all timepieces were produced in extremely limited numbers for very specific use-cases and never retailed to the public. That is, until what is known as the 'Pre-Vendome' era in the early 1990s. Beginning in roughly 1992 and ending at the time of the Vendome (now known as Richemont) acquisition in 1997, it is estimated that just over 1,600 watches were produced. This is the era that really put Panerai on the map in the greater watch community and brought the, lets be honest, beautifully simple and characteristic designs to the masses. The legend Sylvester Stallone himself was an early adopter and is perhaps the best known ambassador of the brand, which all started around this time.

The piece that we have here is one of those early watches dating to the first year or two of production. This Luminor Reference 5218-201/A features what is known as the 'pre-Vendome' logo dial and embodies everything that we know and love about Panerai in terms of design language. The cushion-style steel case comes in at 44mm in diameter and has the characteristic guarded crown with a locking mechanism. It can be wound manually when locked, but to set the time the latch must be pulled down to the 3 o'clock release position to pull the crown out. It is a very satisfying tactile experience. The case has been previous polished and presents nicely, showing only light signs of wear throughout with all of the factory engravings very well preserved on the caseback. Inside, the black 'sandwich' dial utilizes Tritium, which exhibits a gorgeous and even patina on this particular example. The handset is also its original Tritium unit and matches beautifully.

Last but not least, accompanying this piece is its outer navy blue box, inner wood box, the booklet w/ stamped papers dated May, 1997, serialized sticker, and three additional straps including its original 'shark' strap — all of which have their signed steel buckles.

With Sly's personal example of this Reference having been worn in the 1996 film "Daylight" selling at Phillip's for just north of $200,000 USD in 2020, collectors have been paying much closer attention to these pre-Vendome era pieces, and rightfully so. This is a compelling example with its box & papers set and strong overall condition.