Brand comparisons usually run on opinion. This one runs on settled transactions: 510 recorded sales of Panerai and 125 of Bulgari, all in US dollars so the figures are directly comparable.
What each one actually costs
The median Panerai result is $7,500. The median Bulgari result is $3,500. On typical examples, Panerai carries roughly 2.1 times the price of Bulgari at auction.
Half of all Panerai sales land between $5,060 and $12,075. For Bulgari the middle half runs $1,664 to $9,600.
Which one surprises the specialists
44% of Panerai lots beat their high estimate, against 48% for Bulgari. The two are closely matched, which suggests both are priced with similar confidence.
Breadth of the record
Our archive covers 87 distinct Panerai references and 23 for Bulgari, with results going back to 2003 and 2006 respectively. The top recorded result is $326,500 for Panerai and $277,200 for Bulgari.
What this does not tell you
A median is not a verdict. These brands overlap heavily at the edges, and a well chosen example of the cheaper one will outrun a poor example of the dearer one. Condition, completeness and model matter more than the badge on the dial.
