Officine Panerai Marketing e Communicazioni Srl, a wholly owned subsidiary of Compagnie Financière Richemont S.A., designs, manufactures, markets and sells watches under the Officine Panerai brand through authorized dealers and company-owned boutiques worldwide.[1][3] Giovanni Panerai (1825–1897) founded Officine Panerai in Florence, Italy in 1860. Officine Panerai maintains its headquarters in Florence but manufactures watches in Neuchâtel, Switzerland using both movements manufactured in-house and movements manufactured by ETA S.A.
Panerai has four major lines of watches, Historic, Contemporary, Manifattura and Special Editions. Most watches are produced in a limited run (normally of 500, 1000, 2000 or 4000 units) and carry an issue number on the case back. Panerai issues Special Editions every year. In 2006 it issued the 1936 California Dial Radiomir special edition, a reissue of the first Panerai model ever presented to the Italian Marina Militare. This model was limited to a run of 1936 units. As of September 2008, the price variation within the Contemporary collection varies from $6,000 USD to $25,500 USD for the solid gold Marina.
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