The new Panerai Luminor Marina Militare PAM05218 Brings Back a 1993 Icon

You can’t really say that the history of Panerai has been a walk in the park… There have been ups and downs, and several phases in what used to be the provider of watches to the Italian Navy. From the 1910s to 1993, Panerai watches were exclusively worn by military personnel. That date is highly important for the Italian watchmaker, which moved from being a military-only supplier to offering its Luminor and Radiomir watches to the public, under the so-called Pre-Vendôme era, before being acquired in 1997 by the Richemont Group (then the Vendôme Group). Among the watches available at that time were several references 5218, including the first Luminor (5218-2021/A) and the Mare Nostrum (5218-301/A). There was, however, a third reference 5218, a watch that never was offered to the public but that gained quite a cult status… And it’s now used as a source of inspiration for the new PAM05218. 

A blast from the past

On September 10th, 1993, Panerai emerged from its classified past and into public view. The Officine indeed used to provide its timepieces exclusively to the Italian Navy until 1993. But on this day, 32 years ago, Panerai became a brand for the public, unveiling under the direction of Dino Zei, the CEO at that time, two watches that started the Pre-Vendôme era of the brand. The collection, quite short at that time, included two models that became emblematic, the first Luminor ref. 5218-2021/A and the Mare Nostrum Chronograph 5218-301/A. The other icon of the brand, the Radiomir, only arrived later in 1997 and was made public when the Vendome Group – today Richemont – acquired Panerai, introducing the first Vendome special edition, the PAM00021. But that isn’t a story for today.

There was, however, another watch part of the 1993 releases and also bearing the 5218 reference number. That was the 5218-202/A, to be precise, a Luminor Marina Militare with a blackened case and created exclusively for the Italian Navy personnel. And because of that non-public status, this specific model became sort of a grail of the Pre-Vedôme era for collectors. The Luminor Marina Militare 5218-202/A was conceived and designed by Guenat SA Montres Valgines to be exclusively sold to the Italian Navy, with 10 pre-production prototypes made and then a further 90 examples produced – 50 were delivered to Italian military forces, the 40 other examples either donated or sold under the direct control of Dino Zei. In late 1994, following a large demand, 50 other examples would be produced. The watches were made of black PVD-coated steel, measured 44mm in diameter, with the trademarked crown protection device, fitted with a matte black dial, and powered by an ETA Unitas 6497.

The PAM05218, a cool re-edition

Fast forward to 2025, and exactly 32 years after the launch of Panerai as a proper brand and its opening to the public, the Officine now unveils the Luminor Marina Militare PAM05218. And yes, the new reference number carries a lot of historical importance. It’s all in the name…

This new edition is launched coincidentally with the opening of “The Depths of Time” exhibition held at the Florence Flagship store, retracing the trajectory of Panerai’s evolution, from its role as a supplier to the Italian Navy to its emergence in 1993 as a watchmaker. The exhibition was thus the perfect stage to relaunch the fabled blackened 5218. And the new Marina Militare PAM05218 is all about bringing the flair of the original model in a modern package. Visually faithful, modern in its construction and features.

The PAM05218 is the first time the brand revisits the 1993 military reference in such a faithful visual manner. It starts with the obvious, a classic Luminor case in stainless steel, measuring 44mm in diameter and about 13mm in thickness. But instead of being coated in black PVD (not the best in terms of scratch resistance), the matte sandblasted surface is now coated in black DLC. Consistent with the original, but with superior hardness and resistance to wear. The rest of the case is classic Panerai, with a domed sapphire crystal on top, the signature crown protection device and a water-resistance rated at 300m.

In addition to the distinctive blackened aesthetic of the case (which stood out among the other steel references presented in 1993), the dial of the Luminor Marina Militare PAM05218 also pays tribute to the earliest versions of the original 1993 reference 5218-202/A, including the so-called “non-matching” dial. With time, the tritium on the hands and numerals developed different tones of patina, and due to a reaction between the varnish and the tritium, the numerals became dark orange while the hands remained closer to white or light green. This anomaly was corrected in later batches.

This distinctive feature has been remodelled here, with the monolayer dial of the PAM05218 (no sandwich construction here, like the original) having recessed numerals and baton markers filled with dark beige Super-LumiNova, while the blackened hands are filled with greenish-white Super-LumiNova. The two series of printings, Luminor Panerai and Marina Militare, also use the same font as the 1993 edition, and the base of the dial, as you’d expect, is matte black to avoid reflections.

Under the screwed solid steel back engraved with the Officine Panerai Firenze signature and historic OP logo, beats the calibre P.6000, an in-house, hand-wound movement with a large 15½ lignes diameter. Delivering 3 days of power reserve (72h), it runs at a 3Hz frequency and, like the original, displays the time only with hours and minutes.

Availability & price

This new, 1993-inspired Marina Militare is worn on a vintage-shaped golden brown calf leather strap with a black steel DLC trapezoidal buckle, sewn-in by construction, as on the 1993 model. An additional black rubber strap, paired with its own buckle, is also delivered with the watch. Available in boutiques as of September 2025, the Panerai Luminor Marina Militare PAM05218 is said to be available exclusively upon request (not part of the standard collection or online) and is priced at EUR 8,500 incl. taxes, CHF 7,500 incl. taxes or USD 8,800 excl. taxes.

For more details, please visit www.panerai.com.