Different factories.
If you do not necessarily need it to read Panerai, look up Parnis Luminor Marina homages. You can get a decent one at roughly around $100, and they have much more 40" options.
You could also try the PAM535 V2 42" from V6F. I've tried on the gen and - me having small wrists as well - it was not bad at all.
I've tried Parnis when I was early into my Panerai phase. The case design is of course reminiscent of the Luminor Bettarini case but the fit and finish is far from our reps I'm confident to say. Although as the saying goes "You get what you pay for" in Parnis' case, I would like to bring up the law of diminishing returns as it applies to our reps. That as you get to a certain accuracy level, the amount needed to increase the accuracy by even a small amount becomes too great to justify. In the case of a 40mm (not
""
) Parnis (which by the way I would like to point out there is only one, not much more as you stated):
Parnis
Price : $105
Reference : Parniswatch
Accuracy level : 70%
PAM048 Rep
Price : $310
Reference : Puretime
Accuracy level : 90%
PAM048 Gen
Price : $5000
Reference : Chrono24
Accuracy level : 100%
I am being generous by putting the Parnis at 70% and conservative by putting the PAM048 rep at 90%, but anyway, to jump from a 70% accuracy to a 90% accuracy with a PAM048 rep, you are
only spending $213 more, or a cost of $10.65 / % increase in accuracy. This accuracy is more on the fit and finish of the watch. Now to increase replication accuracy (which is the realm of replica watch manufacture) from the PAM048 rep to the gen, we would need to spend $4682 more, or an eye-watering $468/ % increase in accuracy.
I would not recommend on buying a PAM048 gen, if you don't have the funds nor the willingness to do so, but if you were going to consider choosing between a Parnis and a PAM rep, I would choose the PAM rep all day every day.
Sorry for the long post, I felt like it (like I usually do :lol
.
@Kingsman, for
@Gcnlm995's reference, what size is your wrist?