![Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5] Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]](https://2.bp.blogspot.com/-5AH-MlR8T98/TvfoalESPGI/AAAAAAAAMcQ/H0Pk3t96Q9Q/s1600/Captian-Mario-Giorgini-with-Benito-Mussolini-and-the-King-of-Italy-Vittorio-Emanuele-III.jpg)
Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]
![Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5] Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]](https://4.bp.blogspot.com/-JtCaRtoux6o/TvfWiNQmbgI/AAAAAAAAMbg/8NMump3AgUo/s1600/First-Rolex-Panerai-Invoice-June-13-of-1936-19-watches-Reference-2533.jpg)
Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]
![Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5] Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]](https://4.bp.blogspot.com/-nb70O5ZB058/TvfVHKJWQ4I/AAAAAAAAMbI/QE84hBtzHNU/s1600/Third-Rolex-Parerai-Invoice-March-7-of-1939-15-examples-without-dial-or-bracelet-or-box.jpg)
Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]
![Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5] Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]](https://1.bp.blogspot.com/-3STFIQOe_JM/TvfvkblKROI/AAAAAAAAMdM/byQIE4eyGZA/s1600/1955-Panerai-Reference-6152-1-47mm-with-Crown-Protection-System-and-Matte-Black-Dial.jpg)
Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]
![Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5] Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]](https://3.bp.blogspot.com/-qpTFhJEGF80/Tvfi9bhccOI/AAAAAAAAMb4/CUivexIecCc/s1600/2533-glazed-back.jpg)
Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]
![Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5] Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]](https://4.bp.blogspot.com/-5I36_wLsW0A/TvfvjgSM6jI/AAAAAAAAMc4/WM-myaE8LR4/s1600/1956-Panerai-BIG-Egiziano-Reference-2_56-with-60mm-with-Crown-Protection-System.jpg)
Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]
![Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5] Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]](https://4.bp.blogspot.com/-ZAU2biCtOxg/TvfV8xSzYuI/AAAAAAAAMbU/j6kp0YGJrcE/s1600/Second-Rolex-Panerai-Invoice-November-20-of-1937-with-Waterproof-issue-on-3-watches.jpg)
Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]
![Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5] Welcome to RolexMagazine.com...Home of Jake's Rolex World Magazine..Optimized for iPad and iPhone: Chapter 3: Panerai & The Italian Royal Navy [Part 5 of 5]](https://4.bp.blogspot.com/-ZFsI8-AT8IM/TvfvjLNWpEI/AAAAAAAAMcc/eq3JUryB3Ck/s1600/1993-Panerai-Prototype-Reference-5218-201-Luminor-with-OP-logo-47mm-with-Crown-Protection-System.jpg)