I have been asking the same question as well in the past few days, good to see this thread and the replies. I have also been on the lookout for Panerai models but have yet pulled the trigger.
My thoughts are like this. The base Panerai models are still very much in demand, you will be hard pressed to find brand new units (000,005,112 and ETA models) at ADs. They generally sell very fast once they arrive. If you notice, the models available in the boutiques are the models with complications or in-house movements. Or Radiomir and submersible models.
I believe this is fuelled by the news that ETA is discontinuing their sale outside of Swatch group and Panerai is also discontinuing their base Luminor models with ETA movements. This has caused "panic" buying as some ppl think Panerais as "investment" pieces now. Prices of Panerais have since been going up as well, a base model 000 would sell brand new around 4-5 years back around RM12K only, now it's close to RM20k.
I believe the following is still strong due to the design of the watch, being big and rugged, yet simple and beautiful. But added to that, now you have people buying them for "investment" purposes and what nots. Panerais have also become somewhat a symbol status, I realise that the brand recognition has improved greatly over the last few years. People, at least those from Gen X and Y seem to recognise Panerai and Rolex as luxury watches on par with each other. Ask them about Zenith/JLC/IWC, very few would know.
However, I have yet to read any statements from Panerai themselves that they are discontinuing their base models. At that kind of price point, a base ETA movement in a steel case seems overprices IMHO. Which is why I have been holding back.
These are generally my thoughts and of course, subject to debate.
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