In 2005, Richemont Officine Panerai surprised its aficionados with an outstanding “Special Edition”, the PAM 203. According to Richemont’s press release, the watches were equipped with historic “NOS” (New Old Stock) Angelus 240 movements that were “supposedly” found in the old stock of the original company. It turns out this information was totally misleading. A closer look reveals that … Continue reading The truth about the PAM 203