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The numbering designates different models and yes- the system is bewildering. 177 is titanium with seconds hand, 176 is titanium without seconds hand... enough to drive you mad

Alphabetical designations are simply series identifiers. Kind of like software but instead of bumping up to 2.0 you go from a 111F to a 111G The exception is in regards to "H" factory which are generally accepted to be the best Panerai replicas out of the box.

The models you are looking at- 005 and 111- are hand wind- which means you have to manually wind them every so often (I do mine every 2 days).

As for Asian versus Swiss- I go with Asian and am extremely happy. The Swiss ones are finished a bit better however with the new platinum plated "H" factory movements- the best deal is Asian.

In regards to vendors- we have a trusted dealer list. Do some research and make use to the search button to find member reviews. Some dealers are all about customer service and will spend days assisting you with your purchase but you pay more. Others are more for the experienced collector- pay your money and get your watch but don't expect hand holding throughout the process.

If you need further info- do like Posh said and peruse the Panerai section here. Yes there is a lot of info but we all joined and dug through the same mountain of info... kind of a rite of passage