Panerai is the most famous Italian watch company. But keep in mind, Panerai is now produced in Switzerland, not Italy. Originally founded in Florence in the 1860’s, this “watch workshop” was commissioned by the Italian Navy to produce a watch that could be easily read underwater. This early prototype was actually fitted with Rolex parts. Currently Panerai produces a very limited number of pieces and therefore keeps demand high. Panerai watches are usually 40mm or 44mm. Most all models are available both on straps and on bracelets. The simplest version is called the “Marina”. In addition there are “Power Reserve” and “GMT” complications. Panerai also makes a “Chronograph” and a diving watch called the “Submersible”. Each piece is numbered on the back out of how many produced that year. Panerai has a substantial market share because of the large number of Panerai Collectors out there. Some are even “cult-like” in their appreciation for this massive watch.