VS Panerai Submersible PAM00968 Bronzo 47mm Brown Dial VSF Super Clone

VS Factory Panerai Submersible PAM00968 Review – The 4th Gen Bronze, But Is the Movement a Dealbreaker?

So VS just dropped the PAM00968. Fourth generation bronze Submersible from Panerai, and honestly? I have mixed feelings about this one.

If you've been following the Panerai rep game at all, you already know VS Factory basically owns this space now. Every other factory quit. Stopped production on most PAM refs one by one, and VS is the last man standing. Their P9000 clone movement is the reason — nobody else could compete with that level of integration. Full monopoly.

But here's the thing. Monopoly doesn't always mean motivation. Some of the recent releases from VS have been... lazy. There's no other way to put it. And the 968 is a perfect example of what I mean.

The Look — Yeah, It's Clean

Quick background. The PAM00382 was the one everybody wanted — bronze case, green dial, iconic combo. Crazy popular for years.

The 968 goes a completely different direction. Coffee-brown ceramic bezel. Coffee dial. Brown leather strap. The whole thing has this warm vintage feel that just works. On the wrist it looks genuinely premium.

Case profile is noticeably slimmer than the 382 too. The curve on the side is thinner, more refined. If the 382 always felt a little chunky to you, this one sits way better. VS nailed the case finishing here — no complaints on build quality or the overall fit and feel. That part is solid.

Looks alone? Easy cop.

Now the Problem — P9010 "Clone" That Isn't Really a P9010

Here's where it falls apart for me.

Gen PAM00968 runs a P9010 movement. VS put in their P9000 clone and just re-engraved the rotor to say P9010. That's it. That's the whole "upgrade."

These are two different movements though. The balance wheel shock absorber sits in a completely different position on the P9010 vs the P9000. So if anyone who knows Panerai movements flips your watch over, the caseback is a straight tell. Doesn't match gen at all.

Why would VS do this? Simple math. Panerai reps don't sell like they used to. The hype died down compared to a few years ago — nowhere near the volume of Rolex or Omega pieces. Developing a proper P9010 clone costs serious money and R&D time. VS clearly decided it wasn't worth the investment. So every new ref that's supposed to have a P9010? They just shove the P9000 in there and call it a day.

hat's what we call it. Nesting doll approach. Same guts, different label.

Should You Actually Buy This?

Depends what you care about.

The P9000 movement itself is battle-tested. Reliable, good power reserve, stable timekeeping. No issues there. And from the front, from the side, on the wrist — this watch looks fantastic. The brown-on-brown colorway is genuinely attractive. Build quality is up to VS's usual standard which is high.

Don't care about the caseback? Get it. Wear it. Enjoy it. Most people will never see the back of your watch anyway.

Movement accuracy matters to you? Skip the 968. Go with the PAM00382 instead — that one actually uses the correct P9000 movement that matches the gen spec. No nesting doll nonsense, no visible tells on the caseback.

That's pretty much it for this one. Not a bad watch by any stretch, but not an honest effort from VS either. The exterior punches above its weight, the movement is a shortcut. Your call.

Hit me up if you have questions — always happy to talk PAM. Follow vsfwatcheshub for more reviews and the latest drops from VS Factory.