The PAM438 is the first 44mm Luminor with ceramic black matt case and a ceramic black matt bracelet.

The PAM441 is essentially the same watch, but it comes with a strap.
The movement of the PAM438 has a very different look though. More about that below.

Panerai introduced the PAM438 with the name TUTTONERO which means "all black" if I'm not mistaken.
Both watches have the automatic in-house P.9001/B movement with the functions hours, minutes, small seconds, date, second time zone, zero reset and a power reserve indicator on the back.



A closer look at the bracelet, its matt finish looks great



1950's style case seen from the side



The Luminova is ecru



The sandwich dial has all the numbers, just as the PAM359 Luminor Marina 1950 3 days automatic that was introduced at the SIHH 2010.
I've read a couple of discussions about the fact that the word "ceramic" is printed on the dial above the six.
Can't say that it bothers me at all. I actually think that it makes the dial look nicely balanced.







I forgot to ask for confirmation but I don't think that the deployant (folding clasp) is ceramic. I assume it's PVD steel.





The lettering on the case back is gold colored on the 438. The movement is blackened too, the crystal of this version is not "smoked".
OP are now using a new process to darken the movement - the problems that occurred when they started doing this for the 317 are a thing of the past.



The movement of the 441 however looks more regular. The caseback has a smoked see-through sapphire crystal to give the movement a dark look.
It is the same style crystal that can be found on the ceramic PAM335 Luminor 1950 GMT that Panerai introduced at the SIHH in 2010.



The 441 comes with the great looking "assolutamente" strap





The following two photos show how surprisingly alike the black of the PAM360 is compared to that of the ceramic 441.
Interesting because the watches are made using completely different materials and finishing.





You can find the SIHH specifications here:
http://www.network54.com/Forum/353391/thread/1326700577/***+SIHH+2012+%26gt%3B+TUTTONERO+LUMINOR+1950+3+DAYS+GMT+AUTOMATIC+CERAMICA+-+44+MM+***

The first official OP photos of the watch from the SIHH press kit can be found here:

PAM438
http://www.network54.com/Forum/353391/thread/1326708581/***+SIHH+2012+photos+of+the+PAM438+TUTTONERO+LUMINOR+1950+3+DAYS+GMT+CERAMIC

PAM441
http://www.network54.com/Forum/353391/thread/1326720652/***+SIHH+2012+photos+of+the+PAM441+Luminor+1950+3+Days+GMT+Automatic+Ceramica-+44+MM


For your reference

The 2010 PAM359 was the first Panerai with a polished 1950's style case and a sandwich dial with all the numbers



The ceramic PAM335 (2010) was the first Panerai watch with the "smoked" case back crystal



The ceramic PAM317 (2009) has a PVD coated movement, the production process that was initially used caused many problems



Thanks for looking
Martin / paneristi.com SIHH team

USA Prices for these watches release yet?

as far as I know, but here's a link to a post with prices for some of the models in Euro:
http://www.network54.com/Forum/353391/message/1326926109/current+price+list+for+models+2012+%28in+EURO%29

Beautiful watch though. I love gmts.

glad you got all the finger prints off that bracelet before taking these photos

I would still prefer the strap but man I just saw these babies in another light...you have a way of doing that

much appreciated

Really like that ceramic 1950 case. Although I hate the new style bracelet design, the all ceramic bracelet is kinda cool...

Wish they would do the old style bracelet in ceramic...?? Maybe?? Anyone listening? Only can hope.







Studio City, CA

that this new style bracelet is a much better fit for this model. Just my opinion of course.
Thanks,
Martin

I'm just a big fan of the old bracelet & not the new

Certainly to each his own.

Cheers! AP




Studio City, CA

now to start saving my pennies so i can buy this watch lol

"
dp
just living the dream
chicago

Thanks for all the awesome pics.. Is that watch made out of Ceramic? LOL

...but I would prefer "GMT" on the lower half of the dial and the "ceramic" removed. A nice, modern interpretation of the classic Luminor. The black works beautifully with the new-style bracelet. The 438 is a winner.

david

The clasp in steel + PVD and so is the element connecting the bracelet to the case.

THis watch looks great in person, not only in the pics

Cheers and best from the holyland,

~Asi~

but your pics gave me a new lust, Martin.
Thanks a lot. really.

Would be better without the "ceramic" on the dial - but still very cool.

c

"Ceramic" writing on dial means it is non-EU version...?



"it is only water in stranger s tear"

GUSH

From the very first press release, I was in love with the 438. A bit out of my price range, so I will have to wait and save, but it is definitely a watch I would love to acquire in the future. Your pics and review helped cement that, Martin.

Many thanks,

Eric

The darkened movement along with the ceramic casing really grows on me... don't know how well the ceramic models will hold up over time though.

It would be a fantastic every day watch.

the ceramic bracelet looks very comfortable and I think the weight would be light enough to be less noticeable than a big watch on a steel bracelet.

I'm smitten

The blackened movement is a really cool touch - I like that. Have to see one in the flesh to know if the text 'ceramic' would be a deal breaker. But whatever it is, these two black critters are awesome.

And Martin, year after year, I continue to wet myself just by looking at your pics!



________________________________
It is a happy circumstance that when nature gives us true burning desires, she also gives us the means to satisfy them
- E. Seykota

Martin,

Brilliant pictures - again - of course

I really want to see and feel this watch in person. It didn't initially grab me - though when I first saw the 317 I was totally taken with that one - so why not this? But the 317 was and remains a bit too pricey for my taste. Think this one will come down to what it feels like on the wrist - and the price.

Again, thanks for bringing all our beloved PAMs to life in your photos. Many models we will never get to see in person, so your pictures are the closest many of us will get. And they are simply SUPERB!!

Many thanks again.

Cheers!

One of two known 'ristis in Vietnam!

;

very cool of you and really very much appreciated.
BTW yes the 317 is too cool for school but also out of my reach. I think I'd pick one of these new babies if I had the opportunity. Would love a ceramic watch in the rotation

I"ve been hoping for a full ceramic PAM on bracelet for quite awhile. And I think it works so well with the all-numerals dial ala the 359 - but way better here in all black ceramic.