What We Know
If you loved Panerai’s quintessential Luminor collection but have a small wrist, you’ve been stuck looking longingly at the massive size of the 44mm or 47mm offerings and wishing for something smaller. In 2023, the Luminor Quaranta (and 2024’s Quaranta Bitempo, a GMT offering) proved that downsizing to 40mm was possible without losing the core of what made the Luminor iconic. But now, the brand has added another part of the equation: materials technology that Panerai is known for. The new 40mm Luminor GMT Ceramica PAM01460 melds the wearability of the new case size with sandblasted black ceramic, and it looks really, really good.

Inside the 40mm cushion case (the thickness has not been shared) is the Caliber P.900/GMT automatic movement, protected by 300m of water resistance. You can still see the movement, visible through the smoked sapphire display caseback, secured by a titanium ring. The movement has a 72-hour power reserve and runs at 28,800 bph. Functions include the hours, minutes, and seconds (of course), plus a date function and a “true” or “flyer” GMT. That means you can jump an hour forward or backward as you fly. The crown guard and flip lock you’ll need to use to access that feature and set the time are also ceramic, finished with a mix of polish and satin brushing, contrasting with the midcase.

The dial is the brand’s traditional sandwich-style, with a black sunburst finish over a white Super-LumiNova X2 plate that is also used on the matte black hands. Finally, the lugs have also been slightly redesigned to improve the movement’s shock resistance, meeting the brand’s standards. The watch comes on a black calf leather strap with a DLC titanium trapezoidal buckle, with an additional black rubber strap included. If any of this is up your alley, the price is $15,800.
What We Think
Panerai has been on a tear recently. The releases this year show that the brand is listening to feedback on quality while still sticking to its stylistic guns, making a more wearable product for a wider audience. As with all things in the modern landscape, prices have crept up a bit over the years, but they seem in line with what Omega is asking, for instance, for its ceramic-cased Seamaster Planet Ocean Worldtimer. In that instance, the movement is more feature-full, but the case is much less wearable.
The Basics
Brand: Panerai
Model: Luminor GMT Ceramica
Reference Number: PAM01460
Diameter: 40mm
Thickness: Not provided
Case Material: Sandblasted black ceramic
Dial Color: Black sun-brushed sandwich with matte blackened hands
Indexes: Via sandwich construction
Lume: White Super-LumiNova X2 on numerals/markers and hands
Water Resistance: 300m
Strap/Bracelet: Black calf leather strap with DLC titanium trapezoidal buckle; additional black rubber strap included

The Movement
Caliber: Caliber P.900/GMT
Functions: Hours, minutes, small seconds, “flyer” GMT, date
Power Reserve: 72 hours
Winding: Automatic
Frequency: 28,800 bph
Jewels: 23
Chronometer Certified: No
Additional Details: ValFleurier-based movement
Pricing & Availability
Price: $15,800
Availability: Now
Limited Edition: No, a part of the permanent collection
For more, click here.