http://www.thewatchbox.com Each year since 2003, Officine Panerai has commemorated the Classic Yachts Challenge with a limited edition watch. In 2009, The Luminor 1950 Regatta Rattrapante PAM00332 Classic Yachts Challenge broke cover with a split-second chronograph and an all-black aesthetic. One of only 500 units issued, the PAM00332 is an exceptional watch even by Panerai standards. Start with the obvious: a split-seconds chronograph movement takes center stage. Also known as a "double chronograph," this complication allows the timing of simultaneous competitors in a sporting event such as a motor race or sailing regatta. The staggered start-stop-reset of the rattrapante is a joy to control, and the sequence of action on the dial is a perennial crowd-pleaser among admirers of luxury watches. Panerai invests the unique Luminor 1950 Regatta with a striking look to match. Its all-black Diamond-Like Carbon case matches the inverted hobnail ("waffle") dial and black calf leather strap. Panerai adds accents of sea foam green luminescent material, white calibrations, and royal blue as a visual tie to the PAM00332's maritime inspiration. Naturally, all of the classic Panerai Luminor signatures are present. The 44mm cushion case cuts an unmistakable profile with its crescent-shaped crown guard. The guard's famous cam-actuated locking lever deploys to permit easy operation of the crown even while wearing gloves or when hands are slippery. One of only 500 units built, this Panerai Luminor 950 Regatta Rattrapante PAM00332 is available with all original factory equipment from thewatchbox.com. Video and content by Tim Mosso.