As supplier to the Royal Italian Navy and specialist in high-precision mechanisms, Panerai perfected the world's first underwater timepieces in the 1930s, which were not only waterproof at 650 feet, but luminescent as well. Until recently these beautifully designed and technically proficient watches were known only to the Italian military and to a select group of connoisseurs, but today they have become a worldwide phenomenon avidly collected by sportsmen...