Panerai celebrates new store opening with a watch auction

Drumming up anticipation for its first standalone boutique store in the UK, Officine Panerai isn’t just throwing a launch party and calling it a day. They’re going big, creating a unique bronze timepiece and partnering with Sotheby’s to auction the watch online, starting today.

The special Luminor Submersible 1950 3 Days Automatic Bronze 47mm will go on auction exclusively online at Sothebys.com from November 30 until December 15. Bidders will be able to view the one-off watch on display at Sotheby’s, and the winner will get the opportunity to see the new Panerai store on 30 New Bond Street first hand, where the Head Watchmaker will give them a tour of the new boutique, designed by architect Patricia Urquiloa, and show them the intricate features of their newly acquired timepiece.

The watch, cased in bronze and paired with a brown dial, has a very distinctive, vintage look, harking back to the watchmaking brand’s historic creations for the Royal Italian Navy. Panerai has a long history of creating underwater watches, and bronze is often used as it is highly resistant to corrosive action of seawater and atmospheric agents. Bronze is also a well-loved material for watch collectors for its ability to acquire a warm, ‘worn’ look from the development of patina on the case.

Proceeds of the sale will also benefit the Royal Yachting Association to support their charitable sailing program OnBoard, which promotes equal access to sailing for youngsters from all social and economic backgrounds.

For more information about the auction, check out Sothebys.com.