* We have graded this watch to be 95% - there are minor scuffs or some wear on strap In 2007, Officine Panerai launched the P.2005 movement, a sophisticated hand-wound calibre with an innovative interpretation of the tourbillon regulator, distinguished by a simple but revolutionary insight which makes the movement unique. The traditional regulator rotates the balance escapement assembly continuously on itself, to correct position errors caused by gravity and possible friction: this is a particular problem with pocket watches, for which the tourbillon was invented, but it also affects wristwatches. In the innovative Panerai tourbillon, however, the cage which contains the balance and escapement rotates on an axis which is perpendicular to that of the balance, rather than parallel, and it rotates once every 30 seconds instead of the traditional 60 seconds. This construction compensates for running errors in a more effective manner and thus provides more accurate time measurement. The tourbillon regulator, in its elegant and spectacular P.2005/S skeletonised version, is the protagonist of a timepiece of very high technical content: the Pocket Watch Tourbillon GMT Ceramica, a model which pays tribute to the long history of Officine Panerai. The pocket watch played a part in this history at the end of the 19th century, when the Orologeria founded by Giovanni Panerai in Florence displayed on its shelves numerous examples of these watches created by the main Swiss makers. Officine Panerai presents the Pocket Watch Tourbillon GMT Ceramica, an exclusive pocket watch which combines echoes of the past and the innovative technical content of contemporary haute horlogerie in an original and fascinating way. The Pocket Watch Tourbillon GMT Ceramica consists of a Radiomir case 59 mm in diameter in ceramic made from zirconium oxide, inside which is the P.2005/S hand-wound movement with tourbillon regulator. The comprehensive work of skeletonising reveals the sophisticated technical details which distinguish the P.2005/S calibre: the three spring barrels which create a power reserve of six days, readable by means of an indicator mounted on the back of the watch; the various finishes of the components, a large proportion of which are blackened by galvanic treatment; and above all the characteristic Panerai tourbillon cage which, to compensate better for running errors due to gravity, makes two rotations per minute on an axis perpendicular to that of the balance.