Panerai announced the release of the PAM00203, a limited edition Luminor eight-day watch with vintage Angelus 240 movement, to great fanfare in 2005. The manufacturer spent two years refurbishing and upgrading a stock of older movements that had been found. The modern watches were released to a group of 150 collectors, which were chosen by the CEO of Richemont Officine Panerai.

The present example number 125 is in excellent condition and a wonderful limited edition model for any collector.