Panerai’s new Submersible Navy SEALs PAM01738 is a 500m dive watch built like a battleship

Panerai has a new tool watch for the collection – say hello to the Submersible Navy SEALs PAM01738. It’s a 44mm steel diver and it’s built to take a proper beating.

Inside sits the new P.980 calibre. It’s automatic, with a three-day power reserve. There’s a stop-seconds function too (AKA hacking seconds). Pull the crown out and the seconds hand stops, letting you sync the time precisely (very important in combat situations).

Panerai has also put the movement through six-position testing, making sure it keeps accurate time no matter how you wear it.

On the wrist, this is a watch built for legibility. The hour markers and hands are 20% wider than before, with 45% more Super-LumiNova X2 lume packed on. In the dark, the hour markers glow green, while the minute hand and that little dot at 12 on the bezel glow blue.

There’s a target-style small seconds counter at 9 o’clock, with a flash of yellow. Subtle nods to the Navy SEALs, and I think they sit nicely against the shaded anthracite dial.

A date window at 3 o’clock rounds out the functions.

The bezel pairs steel with a black matte ceramic disc, unidirectional and built for calculating immersion time.

Water resistance is rated to 50 bar, or around 500 metres.

Flip it over and you’ll find the licensed Navy SEALs insignia engraved on the case back.

You get two straps in the box. A black rubber one for actual diving, and a grey canvas option if you want something more rugged-looking on dry land. I like it when brands include multiple strap choices up front, rather than charging extra for a second one later.

Alessandro Ficarelli, Panerai’s Chief Marketing and Heritage Officer, says the watch builds on the brand’s military heritage while bringing it firmly into the present. Panerai’s been busy lately, between this and the Afniotech Experience Edition shown off at Watches & Wonders Geneva 2026.

The Panerai PAM01738 is priced at US$12,400 / £10,400. The Submersible Navy SEALs PAM01738 hits boutiques worldwide from July 2026.

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Spencer Hart Buying Guide Editor

About

As Buying Guide Editor, Spencer is responsible for all e-commerce content on Stuff, overseeing buying guides as well as covering deals and new product launches. Spencer has been writing about consumer tech for over eight years. He has worked on some of the biggest publications in the UK, where he covered everything from the emergence of smartwatches to the arrival of self-driving cars. During this time, Spencer has become a seasoned traveller, racking up air miles while travelling around the world reviewing cars, attending product launches, and covering every trade show known to man, from Baselworld and Geneva Motor Show to CES and MWC. While tech remains one of his biggest passions, Spencer also enjoys getting hands-on with the latest luxury watches, trying out new grooming kit, and road-testing all kinds of vehicles, from electric scooters to supercars.

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Watches, travel, grooming, transport, tech