When the contract between Girard-Perregaux and Ferrari expired, a new partnership was signed with Panerai to develop, manufacture and distribute watches under the Ferrari trademark. A New York representative for the watch company has called Panerai the official timekeeper to Ferrari. These wristwatches, available in the US from early August 2006, have 11 models and cost between $5,300 and $26,500. Panerai Ferrari watches are divided into two collections: Granturismo and Scuderia.
Panerai issue many watches as either limited or special editions producing fewer watches than the market demands. Retailers may only receive a few limited edition pieces each per year and long waiting lists for popular models are not uncommon. Hence this brand has become a popular investment piece with resale values of used Panerai often matching list prices of a new watch.