Considered by many Panerai collectors to be the “grail of grails”, the PAM021 features a platinum case and a movement made by Rolex, just like the original Panerai watches manufactured between the 1930s and 1950s.

The present watch is the no. 3 of 60 examples of this model made in 1997 to commemorate the legendary Panerai Radiomir watches from 1938. With resolutely vintage styling, the PAM021 has a cushion-shaped case and the iconic 12, 3, 6, 9, numeral and baton black dial with hands made in contrasting gold.

Guido Panerai & Figlio, founded in 1860 in Florence, advanced quickly to the official watchmaker of the Italian Navy and produced extremely modern and precise instruments. In 1936 the company, later renamed Officine Panerai, launched the first prototype of a diver's watch. In 1938, the production of Radiomir watches for the Italian Navy was launched. The models featured a large cushion-shaped case with a width of 47 mm., wire loops, screw down crown, luminous dial easy to read under water in the dark and a hand-wound mechanical movement supplied by Rolex. The bracelet was made of oiled and punched leather and with its extra-long length it could be worn over the diving suit.