Following the successful inauguration held in Florence (Italy) on September 10, 2025, Panerai is pleased to unveil the second stop of “The Depths of Time” exhibition, debuting at Casa Panerai on Madison Avenue in New York City on October 9, 2025, before reaching Miami this Winter.
“Following its debut in Florence on September 10 – on the very same day Panerai emerged from its classified past and into the public view in 1993, we are thrilled to bring “The Depths of Time” to New York City. On show at our Casa Panerai on Madison Avenue until November 9, 2025 this exhibition offers an immersive journey through our rich heritage: by showcasing a curated collection of vintage instruments, iconic watches, and fascinating archival materials, we aim at narrating our unique legacy in an unprecedented manner, while recounting how Panerai is a brand born in the field, between underwater missions and military secrets. A truly rare opportunity to delve into our legendary past and uncover how, in less than a century, a family-owned business emerged from secrecy to become a celebrated name in watchmaking” says Emmanuel Perrin, CEO of Panerai.
The historical exhibition retraces the trajectory of Panerai’s evolution — from its foundational role as a supplier to the Royal Italian Navy to its emergence in 1993 as a watchmaker known beyond the world of defense, by unveiling the origins of Panerai’s distinctive technical features – remarkable luminescence, advanced water resistance, extended power reserve and robust construction – into the unmistakable and globally recognized design defining the brand today.
On show are never-before seen archival materials, including personal correspondence between the Panerai family and the Marina Militare, technical drawings, early catalogues, and original historical photographs. Instruments such as compasses and depth gauges are displayed alongside historical watches and patent and trademark certificates that document Panerai’s groundbreaking work in luminosity, underwater readability, and instrument design.
The narrative culminates in the 1993 historic debut aboard the destroyer Luigi Durand de la Penne (D560) in the presence of Duke Amedeo d’Aosta, son of Duke Aimone di Savoia founder of the Assault Craft of the Italian Royal Navy — a moment that marked the unveiling of a long-held secret, signaling Panerai’s transition from a brand shrouded in military mystery to a new Civilian era, without compromising its DNA of precision and rugged utility. To commemorate the moment Panerai’s functional timepieces were first unveiled to the civilian public and emerged from their classified past, the exhibition concludes with showcasing the recently launched Luminor Marina Militare PAM05218 – a timepiece directly inspired by this transformative moment in the brand’s history.
This new model is a faithful reinterpretation of the Luminor ref. 5218-202/A, created exclusively for the Italian Navy personnel and introduced in 1993 after the presentation of the first Luminor ref. 5218-2021/A and Mare Nostrum 5218-301/A to the civilian public.
Held at Casa Panerai in Madison Avenue and running until November 9, 2025, before reaching Miami Design District from November 20, 2025, “The Depths of Time” offers an unmissable opportunity to discover the history of the watch brand before it became a brand available to the public.
Luminor Marina Militare PAM05218 revisits one of the most significant milestones in the Maison’s modern history, paying tribute to Luminor Marina Militare ref. 5218-202/A, which debuted alongside Luminor ref. 5218-201/A and Mare Nostrum ref. 5218-301/A in 1993.
The Luminor Marina Militare ref. 5218-202/A was a timepiece exclusively offered to Marina Militare personnel, while Luminor ref. 5218-201/A and Mare Nostrum ref. 5218-301/A were the first two references available to the Civil Market and unveiled on 10th September 1993, aboard the Italian destroyer ship Durand de la Penne (D560) in the presence of Duke Amedeo d’Aosta, son of Duke Aimone di Savoia founder of the Assault Craft of the Italian Royal Navy.
“With “The Depths of Time” exhibition, we invite enthusiasts and newcomers alike to discover the captivating evolution of Panerai, from our historical role as a supplier to the Royal Italian Navy to our rise as a brand in luxury watchmaking. The new Luminor Marina Militare PAM05218 celebrates a milestone: the unveiling of secrets and the birth of the Panerai legend” says Alessandro Ficarelli, Chief Marketing and Product Officer of Panerai.
For the first time, Panerai reinterprets the original reference in this configuration, remaining faithful to its historic codes while subtly enhancing the construction. The 44mm diameter of the case is maintained, recalling how the original ref. 5218-202/A marked a departure from the standard 47mm cases typically supplied to the Marina Militare.
This change reflected Panerai’s mission to create a watch that retained the essence of larger cases while incorporating a minimalist and modern aesthetic, resulting in a clean and linear design. This daring design choice set a new benchmark for the watch industry, cementing Panerai’s status as a leading player and trend setter in the world of horology.
The 44mm steel case of PAM05218 is now coated in DLC (Diamond-Like Carbon), offering a color finish visually consistent with the original PVD treatment of the 5218- 202/A. This results in a striking all-black case, preserving the appealing aesthetic of the original ref. 5218-202/A, which stood out among the other steel references presented in 1993. DLC is a carbon-based coating applied to metal surfaces that offers hardness, resistance to wear, and corrosion protection—while giving the case its distinct black appearance.
The watch is powered by the P.6000 calibre—a hand-wound movement with a three-day power reserve. It measures 15½ lignes in diameter and features a balance wheel that oscillates at 21,600 vibrations per hour. A traversing balance bridge that securely positions the oscillator enhances the movement’s stability and precision.
The dial bears the ‘Marina Militare’ inscription, a tribute to Panerai’s long-standing historical partnership with the Marina Militare, one that began in the 1910s and has spanned over a century. In addition, the font used for the numerals and letters has been specially redrawn to reflect the original typography of the 1993 reference. Unlike Panerai’s signature sandwich construction, this is a monolayer hollowed dial: engraved and filled with Super-LumiNova®, with a subtly concave finish that gives the numerals a three-dimensional appearance. A defining visual trait of the 1993 model has been carefully revived: the “non matching” dial and hands. Originally caused by a chemical reaction between tritium and varnish, the early production pieces developed orange-brown numerals while the hands remained greenish—a contrast that later became highly collectible. This unintentional anomaly was corrected in later batches, but only few “non matching” pieces were produced, making them especially rare.
The PAM05218 recreates this effect intentionally using caramel Super-LumiNova® on the engraved monolayer matte black dial, paired with hands in a lighter tone—an exacting nod to one of the most cherished details in Panerai’s civilian debut. The case features a closed, screw-down caseback with a water resistance up to 30 bar (~300 meters). On the caseback, the Officine Panerai Firenze signature, historic OP logo and watch features appear just as they did on the original. Completing the tribute is a straight, vintage shaped golden brown calf leather strap with a black steel DLC trapezoidal buckle, sewn-in by construction, as on the 1993 model, imbuing the timepiece with a captivating vintage allure. The watch also features a second black rubber strap, paired with an additional buckle.
Debuting in boutiques in September 2025, the PAM05218 is available upon request, making it a coveted acquisition for discerning clients.
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