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In 2006, Panerai joined the ranks of the true "manufactures," the watchmakers that also build their own movements. The Luminor 1950 8 Days GMT PAM 233 entered the PAM-theon as a launch platform for the historic caliber P.2002, Panerai's very first in-house caliber.

And Panerai launched its in-house thrust with the force of a Saturn V rocket. No baby steps here; the caliber 2002 packs serious watchmaking chops. The Panerai Luminor PAM 233 boasts a generous eight-day power reserve, a "dog fang" power reserve gauge, a second time zone with AM/PM distinction, and a sprawling display case back to showcase the goods.

While the PAM 233's movement is the star of this 44mm stainless steel show, the caliber is supported by a brilliant ensemble. Consider the curvaceous Luminor "1950" case. Call it the Luminor Mk. II; the 1950 is closer in profile to the original Panerai combat dive cases built in the 1950s by Rolex. Compared to the 1990s Luminor that introduced Panerai to the watch buying public, the "1950" case is more complex, blessed with elegant compound curves, and finely finished in a fashion becoming of a luxury product.

The Panerai Luminor 1950 8 Days GMT PAM 233 makes strap-wapping a "snap." Panerai heeded the advice of its "Paneristi" fan base and devised a simple quick-change lug that permits easy removal and replacement of straps. Factory and aftermarket straps can be rotated without recourse to a jeweler or the scratch-prone screwdriver of earlier Panerai Luminor models.

Innovations aside, the Paneri Luminor 1950 8 Days GMT PAM 233 combines the essential features that established the modern cult of Firenze: cushion case; "sandwich" high-viz dial, crescent-shaped crown guard and locking lever; compatibility with a universe of aftermarket and factory straps.

The Panerai Luminor 1950 8 Days GMT PAM 233 is a modern milestone model in the history of Officine Panerai. See it in high-resolution images on www.thewatchbox.com. Video and content by Tim Mosso.

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