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The Six Most Expensive Audemars Piguet Royal Oak Watches Sold at Auction
Our global network of Audemars Piguet specialists have brought many of the most extraordinary Royal Oak examples to auction.
W idely recognised as one of the most iconic watch designs ever produced, the Audemars Piguet Royal Oak has rightly taken its place in the history books. Below we provide a brief history of this iconic watch before showcasing the six most expensive examples Sotheby's has sold at auction.
A Brief History of the Audemars Piguet Royal Oak
Created in 1972 by watchmaking legend Gerald Genta, this wristwatch with a "body of steel and heart of gold" saved the world of luxury watchmaking, according to legend. As the famous origin story goes, Audemars Piguet (or "AP" as commonly abbreviated) had took a giant risk in moving forward with the rule-breaking Royal Oak. As a result, Audemars Piguet revolutionised the industry with a brand-new category of horology.
Audemars Piguet debuted their avant-garde watch to a public that didn’t quite know what to make of it at first. The watch was introduced at a retail price of 3,650 Swiss Francs, which was a staggering amount for a stainless steel watch in the 1970s. By comparison, that made it more expensive than a gold Patek Philippe dress watch and more than ten times the cost of a Rolex Submariner. Beyond the issue of the material, the watch itself would have at the time looked odd or unconventional at best. Up until then, luxury watches typically varied little in size and aspect.
Audemars Piguet's new watch broke many of the existing design codes. Genta’s vision took inspiration from a deep-sea-diving helmet. The sketch showed a rounded octagonal bezel secured with eight exposed hexagonal screws. The large 39 mm diameter tonneau-shaped case would earn it the nickname “Jumbo”. The integrated bracelet would be made of links descending in size, and the “Tapisserie” dial would be created by a precision metalwork chisel.
Over its 50-year history Audemars Piguet have produced a huge range of Royal Oak variations, including a range of extraordinarily complex and intricate examples. Below we set out the six most expensive AP Royal Oaks Sotheby's specialists have brought to market.
1. Audemars Piguet Royal Oak Genta's Jumbo Reference 5402 Circa 1978, 2,107,000 CHF
This unique stainless steel and yellow gold Audemars Piguet Royal Oak was curated for auction in May 2022 and sold for 2,107,000 CHF. This circa 1978 model mbodies Gérald Genta's visionary design to a literal degree. Known as the ‘Picasso of Watches’, Genta and his massively creative mind left the world with an extensive and highly-sought after catalogue of watches. As such, it was an honour for Sotheby’s to sell the Audemars Piguet Royal Oak owned by the man himself. Its unique nature lies not only in its provenance, but also its status as the only stainless steel Reference 5402 with a gold bezel to appear at auction. Its blend of robust materials with elegant aesthetics, along with its historical significance and unique status, contributed to this landmark auction result.
Presenting Gérald Genta’s Personal Audemars Piguet Royal Oak Watch
2. Audemars Piguet Royal Oak Grand Complication Reference 26605CE.00.1248CE.98 Circa 2020, 1,134,000 USD
The above Audemars Piguet Royal Oak Grand Complication Reference 26605CE.00.1248CE.98 debuted at auction in June 2022 and sold for 1,134,000 USD. Audemars Piguet debuted a line of very limited and rare grand complication wristwatches in the early 2000s. For an Audemars Piguet Royal Oak watch to receive the moniker ‘Grand Complication’ it must contain at least 3 of horology’s hardest complications to achieve: the split-second chronograph, perpetual calendar, and minute repeater.
In this example, they were housed in the iconic Gerald Genta designed Audemars Piguet Royal Oak case. It was powered by the firm's incredible in-house automatic caliber 2885, composed of 648 individual parts. The watch featured a split-second chronograph, perpetual calendar and minute repeater alongside moon phases and leap year indication with a striking skeletonized dial.
This possibly unique grand complication was offered in exceptional condition with all its original accessories, contributing to the exceptional result achieved in June 2022 in our New York Important Watches sale.
3. Audemars Piguet Royal Oak Perpetual Calendar Reference 26585CE.OO.1225CE.01 Circa 2019, 529,900 USD
Curated for auction in June 2022, the above Audemars Piguet Royal Oak Perpetual Calendar Reference 26585CE.OO.1225CE.01 sold for 529,900 USD. In 2011, Audemars Piguet released a Royal Oak perpetual calendar in black ceramic with grande tappiserie dial on a black ceramic bracelet. Exceptionally well received, the watch became one of the most popular serially produced Royal Oak models. That watch was joined by a sister model in 2019, with the launch of a skeletonized or ‘open-work’ version that immediately became the most desired and hard to acquire edition of the Audemars Piguet Royal Oak.
Of course, the in-house cal. 5135 with a total of 374 components is impressive in its own right, but the ability to see its inner workings in such a legible manner only added to the appeal of this extraordinary watch from an important collection. Its ceramic construction carried the advantage of being both incredibly light, hard wearing and scratch resistant. The combination of cutting edge materials and a contemporary interpretation of a classic design from one of the most historic and storied horological maisons makes this one the greatest modern watches from any brand.
4. Audemars Piguet Royal Oak Grand Complication Reference 25865BC.OO.1105BC.01 Circa 2004, 441,000 USD
The above Audemars Piguet Royal Oak Grand Complication Reference 25865BC.OO.1105BC.01 was curated for auction in December 2020 and sold for 441,000 USD. This piece epitomizes Audemars Piguet’s devotion to its clients and its own history, embracing the Gentrian tendency to go a step further than the rest. Housing the ‘holy trinity’ Grand Complication, paired with the highly desirable salmon dial and an 18k white gold finish, this Audemars Piguet Royal Oak Grand Complication saw a strong reception in our New York Important Watches sale in December 2020.
5. Audemars Piguet Royal Oak Reference 26606ST.OO.1220ST.01 Circa 2018, 3,024,000 HKD
This striking Audemars Piguet Royal Oak was brought to market by our Hong Kong team in October 2021 and sold for 3,024,000 HKD. The watch was a brand new limited edition stainless steel perpetual calendar bracelet watch with aventurine moon phases, 52 weeks, leap year indication and green dial. The green dial was rare among Royal Oak examples, contributing to the very strong reception at auction.
6. Audemars Piguet Royal Oak Perpetual Calendar Reference 25636PT.OO.0344PT, 378,000 CHF
The Royal Oak Perpetual Calendar Ref. 25636PT is a collector’s dream, curated for auction in May 2022 and sold for 378,000 CHF. This model featured a 39mm platinum case faithful to the original Jumbo model. It showcases a breathtaking skeletonized dial, with blue subsidiary dials and an outer track creating a pleasing contrast. Produced in very limited quantities (only 34 pieces in platinum), it stands out for its rarity and exquisite craftsmanship. Originating from a respected collection, the New York team were proud to bring this remarkable watch to auction.
Buying and Selling Audemars Piguet Watches at Sotheby's
Sotheby's is on hand to support with your next Audemars Piguet watch purchase or sale of an existing watch. We have an extensive offering of carefully curated Audemars Piguet watches, covering everything from highly functional all-steel Audemars Piguet Royal Oaks to complex examples with an array of complications.
- Browse Audemars Piguet watches available for immediate delivery
- Explore upcoming watch auctions across the globe
- Speak to our specialists about selling your Audemars Piguet watch
- Research your Audemars Piguet watch investment using our watch sale archive, including many AP Royal Oak models
Trust our worldwide network of leading Audemars Piguet specialists from a globally renowned auction house with a 280 year history.
