Boy, you guys are infinitely helpful, ain't ya?
I believe Permashine is one of the dealer-installed 'magical' paint sealers / protectants to help the finish of the car have a lasting, shiny appearance. It probably has some relatively mild protection levels for the surface, but I doubt it's anything better than a couple of coats of wax per year and some good car washes would do. The seller probably got suckered into it at a few zillion bucks when s/he bought the car originally and still believes it's a selling feature now.
I believe Neil and perhaps a few others in the car biz have claimed that they can tell when a trade in comes in that has been treated with this stuff since it often does look shinier and better, so who knows... maybe there is SOME value to it?