As of 2026-08-09, a buyer in India sees 4 Panerai Luminor references with verified sourcing medians from ￥91.2万 (PAM203) to ￥396万 (PAM01111) across the world's markets — the thin local float is disclosed below where it exists. Import duty and taxes are separate arithmetic.
| Reference | Configuration | India ask | Best sourcing median | Listings |
|---|---|---|---|---|
| PAM203 | 47mm · Steel · Black, Brown | — | ￥91.2万 | 29 |
| PAM289 | 42mm · Rose gold · Black, Brown | — | ￥291万 | 7 |
| PAM01112 | 44mm · Rose gold · Blue | — | ￥318万 | 21 |
| PAM01111 | 44mm · Rose gold · Blue | — | ￥396万 | 14 |
India is a demand market: supply floats thin here by structure, so an Indian ask, where one exists at all, is shown at its real evidence level rather than blended into a median it could not support. The sourcing column is the lowest verified median for each reference across the world’s markets — where CALIBRÉ actually sources. What a watch finally costs in India adds duty and import taxes on top: the landed-cost calculator does that arithmetic (India’s stack, including the Swiss-origin phase-down), and the methodology page states how every figure is produced. No like-for-like saving is claimed between columns — tax treatment differs per market and this page says so plainly, dated 2026-08-09.