Wonderful 8 Giorno Angelus movement, probably from the 1950ies. Panerai is not specific about the age of the movement, but just mentions it was used in the 1940-50ies Panerais.
It comes with a black croc strap as well.
Check out the size of the sack it came in! I picked it up in the airport and was rather surprised about the weight: 11 kilos+++!!!