Panerai chief executive Angelo Bonati is a keen sailor, and for that reason the watchmaker has been a sponsor of the Panerai Classic Yachts Challenge (PCYC) since 2004. Open only to yachts built of wood or metal before 1950 (known as “vintage yachts”) and before 1976 (“classic yachts”), as well as replicas of such yachts, the PCYC is comprised of several regattas over the course of the year.

This year’s PCYC kicked off with a regatta in Antigua, which is followed by the Mediterranean circuit in spring. Alongside the start of the 2017 season was the launch of three Luminor 1950 PCYC chronographs – a pair in 44mm steel cases, and a 47mm model in titanium with regatta countdown.

The Luminor 1950 PCYC 3 Days Chrono Flyback Automatic comes in two guises, with the dial in either black (PAM 653) or ivory (PAM 654). Both share the same 44mm steel case, as well as the P.9100 movement that’s automatic and features a flyback function. And like all of Panerai’s in-house chronograph movements it has a vertical clutch and column wheel – hidden beneath a solid case back engraved with the PCYC logo.

Both dials have the same nautical tachymetre with a scale in knots, which can measure the average speed of a boat over one nautical mile. The black dial has Arabic hour markers, while the ivory dial has dot-and-batons indices, but both feature faux-vintage Super-Luminova.

The Luminor 1950 Regatta PCYC 3 Days Chrono Flyback Automatic (PAM 652) is bigger and slightly fancier. The case is 47mm, titanium and contains the P.9100/R movement.

A variant of Panerai’s in-house chronograph movement, the P.9100/R has an added regatta countdown function. The pusher at four o’clock moves the gold central minute hand backwards in one minute steps until it hits the desired countdown time.

Pressing the button at 10 o’clock starts the chronograph, which also starts the regatta countdown. The gold minute hand will proceed to countdown the minutes to the start of the race, signified by 12 o’clock on the dial, and then start recording the elapsed time after the start of the race once it passes the 12 o’clock marker.

Price and availability 

The PCYC editions arrive in Panerai retailers and boutiques between July and August 2017. Prices in Euros are as follows:

Luminor 1950 PCYC 3 Days Chrono Flyback Automatic PAM00654 – €12,000

Update April 28, 2017: Delivery date for the PCYC watches added.