Panerai launches a skeletonised GMT dive watch – and you won't believe the water resistance

Watches and Wonders 2026 may well be in the rear-view mirror, but the effects of those launches can still be felt. One of our rare T3 Awards was taken home by Panerai, which launched the 31 Giorni with a full month of power reserve to its name.

Now, the brand is back with another impressive watch. The new Panerai Submersible GMT is about as much of a juxtaposition as you can get in one watch. Described as "a skeletonised tool watch", it's clear there's a lot to unpack here.

The watch is powered by the brand's P.4001/S calibre. That uses a 4Hz beat rate and offers a cool three days of power reserve, with GMT, date and small seconds functionality.

The date sits at three o'clock and the small seconds register is housed at nine o'clock, ensuring the dial never feels cluttered. There's even a power reserve indicator lurking on the back.

All of that sits within a 47mm case crafted from sandblasted Grade 5 Titanium. The bezel is also crafted from titanium, with a blue ceramic disc on top. That matches up nicely with the hue of the blue rubber strap, though there's also a black bi-material option in the box.

Perhaps the most impressive feature on this entire dive watch is the water resistance. That's a whopping 500m, and with Panerai's approach to such measures – the brand tests every watch to 125% of the rated resistance level – you can be sure it'll do that.

Given the bevy of complications on offer, as well as the skeletonisation of the dial, that feels mighty impressive. Sure, it won't be for everyone, particularly in such a large case size, but it deserved applause all the same.

Priced at £42,100 (approx. €48,700 / US$57,150 / AU$79,500), this one definitely doesn't come cheap. But if you're looking for technical prowess with classic styling, this is definitely worthy of a look.