Impossible to answer. Go online and find a retailer with lots of models, narrow it down to a few and research those online and in person. Don't get a rolex, they are everywhere and boring.

 

I would say the Pam 000 Base is a good choice for a first Panerai.



It has the 44mm Luminor case and only the hour and the minute hand. If you would like a second hand, take a look at the PAM 005 which is exactly the same as the PAM 000 but with a second hand at 9'o'clock


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The next models in the line up are The PAM 112 and the PAM 111 which are the same as the PAM 000 and PAM 0005 respectively but with a sapphire caseback, sandwich dial and no logo on the dial. These models cost a bit more.
PAM 112(same as 000 but without the loge, with sandwich dial and sapphire caseback)


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PAM 111(same as 005, without the logo, with sandwich dial and sapphire caseback)


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You can also go for the Radiomir models(the radiomir has a thin case, making it more suitable as a dress watch), the Radiomir base 210 and the Radiomir base logo 380.
PAM 210


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PAM 380


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All of these can be had used in the 4-5k region.
Good Luck

 

thanks for that Shoaib
i would love more tutorials explaining all the Pam stuff
digging the 000, very straightforward ticking the right boxes

edit: ps according to raiff's $4k quote that is really a good deal imho for an entry

 

This has to be the best post of them all.
Everyone else please post pics.
I find it stupid to write "go with model # 144054564, who knows wtf it is?
especially when 90% of all Panerais look alike

 

I have lusted over the 40mm luminor reserve for quite some time...

 

If you do decide to Buy one, go for a used one as the 40mm models dont hold thier value well.

 

i purchased a 112 last year.

sandwich dial + sapphire case back = win

sometimes i want to trade up for a 312, but i rather have a 112 + another piece (IWC) than all in on one.