Panerai and “in-house” don’t always go hand in hand. While on a consumer level, the in-house jobs are absolutely the more interesting watches from a watch guy’s perspective, it is the PAM’s using OTHER movements that get collectors going. Starting with the Rolex-made watches of the 30s and 40s, to the Angelus powered divers of the 50s, and 60s, all the way up to the killer redux Pam 21 using a vintage Rolex movement (which will likely run you over 200k today) to the Pam 203 using a vintage Angelus movement (which will cost you around 100k these days), and just a few years back, the PAM Radiomir 1940 using a Minerva movement. But, these are special watches - quite rare and often even more expensive. So, while many modern classics of Panerai use Unitas-based movements, we, and I think the world at large, looks to PAM for collection of fully in-house movements. They've already shown us a few, and now we have another one, complete with an 8-day power reserve and at a great price.