Panerai makes some cool stuff (see this year’s bronze badboy or L’Astronomo), but some have come out in critique of the Italian designed, Swiss made watchmaker saying the cases are simply too large, and the use of ETA/Unitas movements do not warrant the prices.  The Panerai 338 answers both of those charges, and how.

Launched at SIHH 2010, the PAM 338 is a totally natural 42mm in diameter and thinner than any previous 42mm Panerai.  The thinness of the case is made possible by the use of a totally in-house produced caliber, an ultra thin-caliber at that.  The P999/1 is only 3.4mm thick, and is a simple hand-wound movement that offers up a 60 hour power reserve. The watch is water resistant to 100m and in all metals, really rather affordable.

So, the PAM 338 is a standard-for-the-day 42mm in diameter and uses a true in-house movement, the P999.  The 338 is made of brushed titanium with a polished bezel, and sells for $7900.  The PAM 337 is the same watch, but made of stainless steel and sells for $7200.  Not bad price for a watch of a reasonable size, with an in-house movement, and that same Panerai charm that so many people go crazy for.

For more details on the PAM 337/338, the Panerai for the rest of us, click here.