Encyclopedia / Panerai / Luminor Marina
Current deal · verified Oct 19, 2026, 10:08 PM ET
$7,800 Jomashop's listed retail $9,200
Save $1,400 (15%) · new · Jomashop
Ref. PAM01312 (44 mm, black dial, strap) · In stock (per Jomashop)
Brand new from a grey-market dealer. Panerai's US site now redirects the PAM01312 page to the new PAM03312 at $9,500, which has the P.980 movement and 50 bar water resistance. WatchMaxx showed the PAM01312 out of stock. Prices change fast; check the store before you buy.
Price comparison: fixed-price listings
| Store | Condition | Box & papers | Asking price | Link | Checked |
|---|---|---|---|---|---|
| Watchfinder | pre-owned | Yes | $5,810 | View | Oct 20, 2026 |
| Chrono24 marketplace seller | pre-owned | Yes | $6,497 | View | Oct 20, 2026 |
| Jomashop | new | Yes* | $7,800 | View | Oct 20, 2026 |
Fixed-price (buy-now) asking prices in USD for ref. PAM01312, cheapest new and cheapest pre-owned with box and papers per store, sorted low to high and checked Oct 20, 2026 (ET). Buy-now listings only. Pre-owned listings are shown only when the listing states box and papers. * New from a grey-market dealer: comes boxed, but the warranty card may be the dealer's rather than the brand's. Chrono24 rows are individual third-party marketplace sellers. Prices change fast; confirm with the store.
What it really costs
| Market | Price | Source |
|---|---|---|
| Panerai US retail | PAM03312 $9,500 (replaces PAM01312) | panerai.com |
| Grey-market new (PAM01312) | $7,800 at Jomashop | jomashop.com |
| Pre-owned PAM01312 | about $4,100 – $6,500 (median ~$5,100) | Chrono24 |
All prices in USD, checked Oct 19, 2026 (ET). Pre-owned ranges are the middle 80% of asking prices on the first Chrono24 results page for that ref (about 60 listings, used and some unworn), fixed-price listings only. Grey-market = brand-new from a non-authorized dealer.
Buying guide
Key references
| Ref. | What it is | US retail |
|---|---|---|
| PAM01312 | 44 mm steel, black sandwich dial, P.9010, 300 m (previous model) | $9,200 (Jomashop's listed retail) |
| PAM03312 | Current 44 mm Luminor Marina, P.980, 50 bar (~500 m) | $9,500 |
Which one I'd pick
PAM01312 vs PAM03312: the new PAM03312 is deeper-rated and has a new movement. The outgoing PAM01312 at $7,800 new is $1,700 under the new model's retail, and pre-owned ones are cheaper still (median ~$5,100).
What to check before you buy
- Box and papers: a brand warranty card matters for resale. Grey-market new watches may carry the dealer's warranty instead of the brand's, so ask which one you're getting.
- Size: 44 mm with a crown guard wears big. Try one on.
- Fakes and red flags: avoid prices far below the grey-market numbers above, stock photos only, or sellers who won't show the caseback, clasp and warranty card.
Alternatives worth a look
- Oris Aquis Date Calibre 400: A Swiss diver with a 5-day in-house movement for less. (41.5 mm stainless steel, Oris Calibre 400, retail $3,900 (Oris US))
- Omega Seamaster Planet Ocean 600M: A big Omega diver, also discontinued and discounted. (43.5 mm stainless steel, Calibre 8900, retail Discontinued ref.; current Planet Ocean models $8,600–$9,200 on Omega US)
- Breitling Superocean Heritage B20 Automatic 42: Vintage-style diver, 25% under retail. (42 mm stainless steel, Breitling Calibre B20, retail $6,100 (AB2010121B1A1, black, steel bracelet))
History
Panerai became an official supplier to the Royal Italian Navy (Regia Marina). Its early instruments were made luminous with Radiomir, a radium-based compound, and later, from around 1965, with Luminor, a tritium-activated compound that gave the watch its name.
The Luminor's signature is the crown-protecting device. Panerai says its patent was requested in 1955, to shield the winding crown from shocks and improve water resistance.
The PAM01312 was the 44 mm steel Luminor Marina with the P.9010 automatic and a three-day power reserve. Panerai has replaced it with the PAM03312, with a new P.980 movement, a see-through caseback and 50 bar (~500 m) water resistance.
Sylvester Stallone wore a Luminor in the 1996 film Daylight.
Specifications
| Brand | Panerai |
|---|---|
| Model | Luminor Marina |
| Key references | PAM01312 (previous), PAM03312 (current) |
| Launch year | Crown-protecting device patent requested 1955 (per Panerai) |
| Case | 44 mm stainless steel |
| Crown | Crown-protecting bridge |
| Dial | Sandwich dial, date and small seconds |
| Movement | Calibre P.9010, automatic |
| Power reserve | 3 days |
| Water resistance | 300 m |
| Approx. US retail (Oct 2026) | $9,500 (PAM03312, Panerai US); PAM01312 replaced |
Specs from the brand's official product page for the main reference. Retail prices are list prices, not market value, and change often.
Highlights
- Crown-protecting bridge
- Sandwich dial
- Small seconds at 9 o'clock
FAQ
How much is a Panerai Luminor Marina?
The PAM01312 was $7,800 new at Jomashop against a $9,200 listed retail (checked Oct 19, 2026). Panerai US now lists the new PAM03312 at $9,500.
Is the PAM01312 discontinued?
Panerai's US site now redirects the PAM01312 page to the PAM03312, its replacement.
What's different on the PAM03312?
Panerai lists the new P.980 movement, a see-through sapphire caseback and 50 bar (~500 m) water resistance.
What is the bridge over the Luminor crown?
Panerai's crown-protecting device; Panerai says the patent was requested in 1955.
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Get the free weekly issuePrices and availability last checked Oct 19, 2026. No affiliate links: I don't earn anything if you buy. Sources are listed in our research notes and linked above.