Presents itself in mint condition with little to no signs of wear. Set beneath sapphire crystal, the blue sun-brushed dial is washed in a black gradient, with a red small seconds hand at 9 o’clock adding a Luna Rossa accent. Carved from satin-brushed stainless steel, the 42mm case keeps a soft matte sheen that brightens under open sky. Paired with a rubber and textile bi-material strap, the watch carries a bold red stripe and white Luna Rossa lettering.

Functions include hours, minutes, small seconds, date, and dive timing on a steel bezel with a ceramic disc that turns counter-clockwise only. The winding crown on the right side of the case sits under Panerai’s crown-protecting bridge, so first raise the bridge’s lever to release it. Pull the crown out to its first position and set the date to the day before today. Pull it out to the next position, where the small seconds hand stops, and move the hands past midnight onto today’s date and the correct time. Push the crown home and close the lever to restore the 300-meter water resistance, with the P.900 caliber holding a three-day power reserve.

Comes as a full set, boxed with warranty documentation.

Developed by the Laboratorio di Idee at Panerai’s Neuchâtel manufacture, it pairs a true dive tool with the colors of an America’s Cup syndicate. For anyone who wants their dive watch to carry a story from the race course, it makes a compelling place to start the conversation.