Jonny's First Meeting with a Panerai Results in Some Questions About Diminishing Returns

 

Jonny discusses some interesting points about pricing and the law of diminishing returns on his watch blog. 

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Comments

[Angelo]

Funny---Panerai isn't a well-known name to the layperson. When someone sees a Rolex, they immediately know it's a luxury item---thousands of dollars for a watch. But those non-watch people who recognize Rolex----I don't think most of them know the difference between a Panerai and an Invicta. Thus, the person who can afford a Panerai and buys one is probably doing it for their own satisfaction. Maybe they will impress other well-off people in their circle who know the Panerai name, but not the general public. I must admit---if I was going to spend a fortune on a watch, I think I would want everyone to know!

[jonnybardo]

I actually feel the opposite, Angelo - I prefer relative anonymity, or at least only being known to a select group!

The Panerai was surprised that I knew the brand - he said that only a few people recognize it.

With regards to knowing the difference in the brands, I was telling my wife about it and I told her that if I came home with a Panerai that she, a "non-watch person," wouldn't have known that it was a $7000 watch.

I'd even go so far as to say that, aside from obvious glitzy trappings like gemstones, just the visual and tactile quality of a $500-1000 watch and a true luxury watch is not noticeable. I mean, there's a noticeable difference between a $100 and $300 watch and, to a lesser extent, a $300 and $500; but the difference gets smaller and smaller and, I think, is virtually impossible to detect after about $1000 or so. That's at least with regards to the two luxury watches I've inspected - an Omega and now a Panerai. I'd be curious to see what a Seiko Grand Diver would be like relative to, say, a SKA371.

[Angelo]

Well since we discuss the "manly" in watches and radios (and sometimes cars) why not bring guns into it? I'm a novice----and maybe some readers here are experts. But my impression is that with handguns (probably rifles too, but I have no experience there) you can absolutely tell the difference between a $500.00 gun and a $1500.00 gun. From what I can tell so far----it's a much more noticeable difference than in watches. A well crafted pistol that sells for over $1000.00 has a beautiful finish---smooth---instills confidence. A cheaper gun might hold its own, but have rougher edges and fall short in the "intangibles" category too. The better gun will "feel" as though it was made by hand and checked carefully every step of the way----while the cheaper gun might "feel" mass-produced. Again---I'm not expert. Others will be far more knowledgeable----but I thought of this observation when I was reading your last comment about Panerai. Oh, and on the name brands thing---I suppose the best of both worlds is having something that will impress people in the know. In that regard, the Panerai is strong.