Panerai's Alarm offerings are extremely limited. You have the limited edition white gold PAM46 which is a piece I've never ever seen in person and is an extremely rare watch to make an appearance on any Panerai forum. And then you have the most recent version of the PAM98 which is the PAM355 which has a cleaner dial IMO.
The PAM98 really isn't a piece which is collectible such as a PAM127, but it should hold its value over time.
Please do share some pics if you get one!
Cheers,
Anthony
PS. Below is a video of the Panerai PAM355 GMT Alarm in action so you know how the PAM98 alarm sounds like.