A new chapter was etched in the pages of watchmaking history on November 3rd as the one-of-a-kind Radiomir Guido Panerai & Figlio timepiece was sold at a notable final price at Phillips in Association with Bacs & Russo, during The Geneva Watch Auction: XVIII at La Réserve Genève. This 1-of-1 model, a peculiar reinterpretation of Panerai's emblematic Radiomir, captivated bidders and fetched a record sum of 355.600 CHF, highlighting its historical value.
"We witnessed an incredible moment at the auction in Geneva, as watch enthusiasts and collectors acknowledged the heritage encapsulated in the Radiomir Guido Panerai & Figlio", stated Jean-Marc Pontroué, CEO of Panerai. "The remarkable sale price affirms the timepiece's worth and is also a nod to Panerai's dedication to preserving our rich history while relentlessly pushing boundaries in watchmaking expertise". The Radiomir Guido Panerai & Figlio is an slice of Panerai's maritime history and Italian legacy. Inspired by the legendary Angelus caliber of the 1960s Ref. 3646 modified, this exclusive watch houses a very rare historical example of the Angelus SF240 movement, with a Glucydur® balance wheel, the very same deployed in Panerai’s watches 62 years ago. A caliber, specifically built for G. Panerai e Figlio, whose manufacturing dates back to June 1961 as evidenced by the original engraving on the movement’s plate.
Its distinctive features pay homage to the Brand's timeless design ethos and pioneering spirit. Enclosed in a 47mm cushion shape casing - made of Panerai Platinumtech™ - the timepiece presents a conical screwed crown and solid welded lugs. Through the domed sapphire crystal, a sandwich dial emerges bearing the Officine Panerai inscription and the Marina Militare logo paired with gold-coloured hands and small seconds at the 9-hour mark.
The auction's success punctuates a significant milestone for Panerai, marking its strength in the horological world. This event also signifies the synergy of the collaboration between Panerai and Phillips, united in a celebration of heritage, watchmaking expertise and the appeal of exclusive collectibles.
All the proceeds, including the entirety of Phillips’ Buyer’s Premium will benefit the Intergovernmental Oceanographic Commission of UNESCO (IOC-UNESCO) strengthening the partnership to develop ocean literacy activities as part of the UN Decade of Ocean Science for Sustainable Development (2021-2030).
"We were delighted to be part of this journey from the design process all the way to the final sale. The result highlights not only the importance of such a piece - that is a potent mix of vintage movement and timeless design - but also Panerai’s historical significance and relevance in today’s horological landscape. This also highlights Phillips in Association with Bacs & Russo’s ability to work hand in hand with important members of the industry to reach a strong pool of collectors and enthusiasts to create not only value but a truly unique experience. We are honored to have participated in this incredible result and to donate our full Buyer’s Premium to the Intergovernmental Oceanographic Commission of UNESCO”, said Aurel Bacs, Senior Consultant, jointly with Alexandre Ghotbi, Deputy Chairman Watches, Head of Watches Europe & The Middle East, Phillips in Association with Bacs & Russo.