The linking of the two companies, Panerai and Rolex has always been the subject of speculation and fascination amongst watch collectors. Officine Panerai of Florence was known for making precision instruments - watches were just one of their product lines. Panerai first turned to Rolex in the mid-1930?s due to Rolex?s well deserved reputation of making completely waterproof watches. Panerai had suffered from unsatisfactory waterproofing of their watches and the use of Rolex?s waterproof crowns on their watches was a logical move. Of course, the reputation of the Rolex watch movement was widely known and Rolex agreed to supply Panerai with both the crowns and movements. Throughout the 1940s and 1950s Rolex continued to be the main supplier of watch movements and cases to the Officine Panerai Company who would then fit them with their patented dials and crown guards. In 1997, Panerai reissued a replica version of the first Panerai of 1938, a limited edition of 60 pieces with a period Rolex movement, forever linking its history with Rolex.