How Much Does An Audemars Piguet Royal Oak Cost?
Audemars Piguet Royal Oak prices vary greatly, and as of December 2023, the lowest-priced one (a 33mm quartz model) is listed for $17,300, while the jaw-dropping Royal Oak Grande Complication has a market value of about $1.5 million. But the most popular Audemars Piguet Royal Oak models (15400ST, 15400OR, 15500ST, 15500OR) are priced between $50,000 and $95,000.
In the luxury watch space, there are a few models that are known as hype watches, which are — as their name suggests — highly sought-after, ultra-valuable, and instantly recognizable. The Audemars Piguet Royal Oak is one such example of a hype watch and its popularity has exploded in recent years. The booming demand for Royal Oak watches has caused a shortage of many models at AP stores and boutiques, which has increased the value of Royal Oak watches on the secondary market.
So, this presents the question: How much does an Audemars Piguet Royal Oak cost?
Well, the answer is not a straightforward one. Remember, not only has Audemars Piguet been making the Royal Oak since the early-1970s (which means the current market is home to vintage, retro, discontinued, and contemporary models) but the Royal Oak has become AP’s flagship watch, paving the way for a massive assortment of models, complications, sizes, styles — there’s even a spinoff collection in the form of the Royal Oak Offshore. The cheapest Royal Oak Offshore is the AP Diver with a list price of $30,200, while the most expensive ROO, the Grande Complication, is $725,000.
If you’re interested in learning more about AP watch prices, whether vintage or modern pieces, men’s or ladies’ variants, retail or pre-owned, then keep on reading. We’re here to give you all the answers to the broad question of how much Audemars Piguet Royal Oak watches cost.
Brief History of the Audemars Piguet Royal Oak
The Royal Oak is, without any doubt, the best-known model from Audemars Piguet. It also holds the record of being the first true sports luxury watch launched in the world, back in 1972, a timepiece that would change the landscape of modern horology forever.
Read more: The History of Audemars Piguet
Genius watchmaker Gerald Genta designed the Royal Oak, and AP launched it in 1972 at the annual Swiss Watch Show (later renamed Baselworld). The watch’s design was groundbreaking. It featured an eight-sided bezel with six exposed screws, a pioneering integrated bracelet, and a textured dial that displayed the time and date.
But most impressive of all was that the first Royal Oak watch was made from stainless steel but cost as much (or more than) as gold timepieces of the era. This was a bold move from Audemars Piguet; however, the hefty price tag clearly announced that the Royal Oak was a luxury sports watch made for the modern jet set.
The original reference was the Royal Oak ref 5402, which quickly picked up the nickname “Jumbo.” By today’s standards, 39mm is not large, but in the early-1970s, a 39mm watch was indeed considered jumbo. Despite its oversized diameter, the Royal Oak 5402 “Jumbo” was slim, measuring a mere 7mm. This slenderness of the case was largely thanks to the slim Caliber 2121 automatic movement that powered the watch, which was based on Caliber 2120 but furnished with a date complication.
2022 marks the 50th Anniversary of the Royal Oak and as expected, Audemars Piguet has launched a slew of new models to celebrate the milestone — including some new Jumbo Royal Oaks.
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What Impacts the Price of an Audemars Piguet Royal Oak?
Before we delve into AP Royal Oak prices, certain details will affect the costs. First, there’s age — vintage pieces can be collector’s items, making them highly valuable. Then there are the sizes, not to mention the movement and complications. Even dial colors will have an impact on a Royal Oak price; for instance, dark blue dials are considered the most valuable of all since the original Royal Oak was introduced with a dark blue dial.
One of the most important variations that will affect the price of a Royal Oak is the type of material used. Here’s a quick rundown of Royal Oak case metals and the letters used to denote them in a reference number:
- BA: Yellow Gold
- BC: White Gold
- ST: Steel
- OR: Rose Gold
- PT: Platinum
- TI: Titanium
- CE: Ceramic
- SR: Steel/Rose Gold
- SA: Steel/Yellow Gold
For example ref. 15500ST denotes a steel model while ref. 15500OR denotes a rose gold variant.
How Much Does An Audemars Piguet Royal Oak Jumbo Cost?
When you hear the name Royal Oak “Jumbo”, this refers to either the original Royal Oak ref. 5402ST watch or to the following references that were produced in honor of that original model.
The design characteristics of the Royal Oak Jumbo watches include:
- 39mm cases
- Hour and minute hands only – no seconds hand
- A date window on the dial
- An ultra-slim automatic movement (originally Caliber 2121 but now Caliber 7121)
Audemars Piguet has made several generations of the RO Jumbo since 1972. Here’s a list of the various Jumbo references and their introduction years.
- 1972: Royal Oak Jumbo ref. 5402
- Series A (total of 2,000 examples made)
- Series B (total of 1,000 examples made
- Series C
- Series D
- 1992: Royal Oak Jumbo ref. 14802 Jubilee (limited to 1,000 pieces) to celebrate the 20th Anniversary
- 1996: Royal Oak Jumbo ref. 15002 (very low production, by some estimates less than 200 examples)
- 2000: Royal Oak Jumbo ref. 15202
- 2012: Redesigned Royal Oak Jumbo ref. 15202 to celebrate the 40th Anniversary
- 2022: Royal Oak Jumbo ref. 16202 to celebrate 50th Anniversary, fitted with a new Caliber 7121
Generally speaking, one of the most coveted RO Jumbos in collecting circles will be the vintage A-Series Royal Oak Jumbo ref. 5402 as it was the original model, after all. However, this is not necessarily the most costly.
AP Royal Oak Jumbo Watch Prices
| Royal Oak Jumbo Ref. | MSRP (Retail Price) Sep 2023 | Avg. Market Price Sep 2023 | Avg. Market Price May 2023 | Avg. Market Price Aug 2022 | Avg. Market Price Feb 2022 | Avg. Market Price Aug 2021 |
|---|---|---|---|---|---|---|
| 5402 | N/A | $120,000+ | $125,000+ | |||
| 14802 | N/A | $131,000 | $141,000 | $150,000+ | ||
| 15002 | N/A | $165,000+ | $160,000+ | |||
| 15202ST | N/A | $63,400 | $72,200 | $100,000 | $101,000 | $88,000 |
| 15202BA | N/A | $113,700 | $112,200 | $208,200 | $132,500 | $86,900 |
| 16202ST | $35,000 | $90,700 | $105,200 | $185,000 | N/A | N/A |
| 16202BA | $78,300 | $230,500 | $300,000 | N/A | N/A |
How Much Does An Audemars Piguet Royal Oak Selfwinding Cost?
“Standard” may not be the most appropriate of terms, but a standard Audemars Piguet Royal Oak refers to the regular production models with time and date dials. Royal Oak Jumbos are typically sought-after by collectors while these mainstream variants, officially known as Royal Oak Selfwinding, are popular with a much wider audience. It’s what you’ll typically think of when you think of a Royal Oak. The standard Royal Oak is also a much broader collection, encompassing a bigger variety of sizes, metals, and dial colors.
Audemars Piguet launched this line with the introduction of the Royal Oak Selfwinding ref. 15300 in 2005. While the 15300 retained the 39mm measurement of the Jumbo, the newer version featured a thicker case, heftier bracelet, and Caliber 3120 with a central seconds hand. That’s one of the main ways to tell the difference between a Jumbo and a mainstream Royal Oak Selfwinding – the former will not have a seconds hand while the latter will.
There have been several variations and references of the standard Royal Oak Selfwinding over the last two decades:
- 2005 – 2012: Royal Oak Selfwinding 39mm ref. 15300
- 2012 – 2019: Royal Oak Selfwinding 41mm 15400
- 2012 – 2022: Royal Oak Selfwinding 37mm 15450
- 2019 – present: Royal Oak Selfwinding 41mm 15500
- 2022 – present: Royal Oak Selfwinding 37mm 15550
AP Royal Oak Selfwinding Prices
| Royal Oak Selfwinding Ref. | MSRP (Retail Price) Sep 2023 | Avg. Market Price Sep 2023 | Avg. Market Price May 2023 | Avg. Market Price Aug 2022 | Avg. Market Price Feb 2022 | Avg. Market Price Aug 2021 |
|---|---|---|---|---|---|---|
| 15300ST | N/A | $36,900 | $37,000 | $56,000 | $48,000 | $38,000 |
| 15400ST | N/A | $34,300 | $39,000 | $49,000 | $47,000 | $42,000 |
| 15400OR | N/A | $51,300 | $58,900 | $64,800 | $67,200 | $43,100 |
| 15450ST | N/A | $34,900 | $39,400 | $39,600 | $42,300 | $32,700 |
| 15450SR | N/A | $33,500 | $34,100 | $41,000 | $37,000 | $29,000 |
| 15500ST | $27,800 | $39,100 | $45,900 | $58,500 | $58,000 | $43,400 |
| 15500OR | N/A | $59,400 | $66,100 | $95,000 | $89,000 | $70,000 |
| 15550ST | $26,500 | $42,400 | $49,800 | $69,100 | N/A | N/A |
How Much Does A Midsize Audemars Piguet Royal Oak Cost?
While Audemars Piguet no longer makes them, pre-owned midsize Royal Oak 36mm are still popular in the secondary market. Here’s a list of the various midsize Audemars Piguet Royal Oak reference generations and the year they were introduced:
- 1978: Midsize Royal Oak 36mm ref. 4100
- 1980: Midsize Royal Oak 36mm ref. 14332
- 1988: Midsize Royal Oak 36mm ref. 14486
- 1991: Midsize Royal Oak 36mm ref. 14700
- 1992: Midsize Royal Oak 36mm ref. 14790
The midsize Royal Oak 36mm was discontinued in 2005.
Midsize AP Royal Oak Watch Prices
| Midsize Royal Oak Ref. | MSRP (Retail Price) Sep 2023 | Avg. Market Price Sep 2023 | Avg. Market Price May 2023 | Avg. Market Price Aug 2022 | Avg. Market Price Feb 2022 | Avg. Market Price Aug 2021 |
|---|---|---|---|---|---|---|
| 4100ST | N/A | $32,600 | $35,000 | |||
| 4100SA | N/A | $20,500 | $18,700 | |||
| 14790ST | N/A | $29,500 | $31,600 | $39,000 | $31,600 | $26,400 |
| 14790SA | N/A | $20,400 | $21,900 | $22,300 | $17,000 | $15,300 |
| 14790BA | N/A | $49,800 | $46,300 | $56,800 | $35,500 | $27,000 |
How Much Does A Ladies’ Audemars Piguet Royal Oak Cost?
As mentioned, Audemars Piguet has vastly expanded the Royal Oak collection to include plenty of sizes, including smaller ones for women. Today, AP categorizes its 34mm and 33mm Royal Oak watches as ladies’ models.
Audemars Piguet introduced the Royal Oak Selfwinding 34mm (ref. 77350) in 2020 to sit alongside the Royal Oak Quartz 33mm (ref. 67650 and 67651 with diamonds).
Ladies’ AP Royal Oak Watch Prices
| Ladies’ Royal Oak Ref. | MSRP (Retail Price) Sep 2023 | Avg. Market Price Sep 2023 | Avg. Market Price May 2023 | Avg. Market Price Aug 2022 | Avg. Market Price Feb 2022 | Avg. Market Price Aug 2021 |
|---|---|---|---|---|---|---|
| 77350ST | N/A | $26,600 | $26,000 | $31,000 | $28,600 | $22,300 |
| 77350SR | N/A | 32,300 | $33,900 | $36,900 | $31,400 | $26,700 |
| 77350CE | $53,000 | $66,400 | $72,800 | $77,500 | $82,500 | $94,000 |
| 67650ST | $17,300 | $21,600 | $22,100 | $27,000 | $20,400 | $15,000 |
| 67651ST | $22,700 | $22,500 | $24,900 | $26,100 | $22,900 | $17,500 |
How Much Does An Audemars Piguet Royal Oak Chronograph Cost?
One of the most popular variations of the RO is the Royal Oak Chronograph, which debuted in 1998. Since then, AP has made several generations of the Royal Oak Chronograph — including some variations with leather straps instead of metal bracelets.
- 1998: Royal Oak Chronograph 39mm ref. 25860ST
- 1998: Royal Oak Chronograph 39mm ref. 25960BA, 25960BC, and 25960OR in gold
- 2008: Royal Oak Chronograph 39mm ref. 26300ST
- 2008: Royal Oak Chronograph 39mm ref. 26022BA, 26022OR, and 26022BC in gold
- 2012: Royal Oak Chronograph 41mm ref. 26320
- 2017: Royal Oak Chronograph 41mm ref. 26331
- 2019: Royal Oak Chronograph 38mm ref. 26315
- 2022: Royal Oak Chronograph 41mm ref. 26240
- 2022: Royal Oak Chronograph 38mm ref. 26715
In addition to the above regular production Royal Oak Chronographs, AP also made a handful of limited edition and special edition models.
Audemars Piguet Royal Oak Chronograph Prices
| Royal Oak Chronograph Ref. | MSRP (Retail Price) Sep 2023 | Avg. Market Price Sep 2023 | Avg. Market Price May 2023 | Avg. Market Price Aug 2022 | Avg. Market Price Feb 2022 | Avg. Market Price Aug 2021 |
|---|---|---|---|---|---|---|
| 25860ST | N/A | $35,800 | $40,800 | $56,350 | $49,900 | $35,300 |
| 25960BA | N/A | $72,400 | $72,300 | $54,200 | $51,800 | $49,700 |
| 26300ST | N/A | $41,200 | $43,800 | $61,500 | $48,000 | $36,000 |
| 26022OR | N/A | $45,000 | $47,300 | $61,000 | $42,300 | $33,600 |
| 26320ST | N/A | $40,300 | $46,400 | $58,700 | $52,000 | $39,000 |
| 26320OR | N/A | $61,200 | $73,700 | $108,700 | $76,400 | $62,700 |
| 26331ST | N/A | $46,300 | $49,000 | $661,000 | $67,300 | $44,200 |
| 26331OR | N/A | $81,300 | $84,500 | $105,700 | $99,500 | $83,600 |
| 26315ST | N/A | $49,500 | $49,800 | $64,000 | $52,300 | $42,100 |
| 26315OR | N/A | $91,300 | $97,300 | $95,700 | $70,600 | $55,100 |
| 26240ST | $37,400 | $57,600 | $58,600 | $126,000 | N/A | N/A |
| 26240OR | $75,900 | $98,500 | $101,600 | $182,200 | N/A | N/A |
How Much Does A Complicated Audemars Piguet Royal Oak Cost?
Before the Royal Oak, Audemars Piguet was already renowned for its mastery of mechanical watchmaking and complications such as perpetual calendars, tourbillons, and minute repeaters. Therefore, it was only a matter of time before Audemars Piguet would start making complicated versions of the Royal Oak.
For instance, AP launched the Royal Oak Perpetual Calendar in 1984 and the Royal Oak Tourbillon in 1997. The current Audemars Piguet catalog is home to a bevy of complicated Royal Oak models, which as you can imagine can be ultra-expensive.
In the 2000s, AP announced the Royal Oak Concept line, which serves to celebrate cutting-edge designs and complicated movements.
Complicated Audemars Piguet Royal Oak Prices
| Reference | MSRP (Retail Price) Sep 2023 | Avg. Market Price Sep 2023 | Avg. Market Price May 2023 | Avg. Market Price Aug 2022 | Avg. Market Price Feb 2022 | Avg. Market Price Aug 2021 |
|---|---|---|---|---|---|---|
| Annual Calendar ref. 25920ST | N/A | $38,000 | $37,000 | $36,200 | $32,800 | $30,500 |
| Perpetual Calendar ref. 26574ST | $106,000 | $130,100 | $142,800 | $197,600 | $133,400 | $85,300 |
| Perpetual Calendar ref. 26579CE | N/A | $231,500 | $257,900 | $271,000 | $218,500 | $142,200 |
| Double Balance Wheel Openwork ref. 15407ST | $74,100 | $151,600 | $149,300 | $223,400 | $182,800 | $141,300 |
| Extra-Thin Tourbillon ref. 26510ST | N/A | $152,300 | $165,000 | $145,000 | $112,500 | $110,000 |
| Tourbillon Chronograph ref. 25977ST | N/A | $95,100 | $94,100 | $91,300 | $84,100 | $70,200 |
| Concept Black Panther Flying Tourbillon ref. 26620IO | N/A | $348,900 | $358,000 | $450,000 |
How Much Does An Audemars Piguet Royal Oak Offshore Cost?
In 1993, Audemars Piguet launched the Royal Oak Offshore Chronograph to celebrate the RO’s 20th anniversary the year before (production was delayed.)
Developed for a younger audience, the Offshore was a contemporary take on the original sporting an oversized 42mm case, rubber-clad pushers and crowns, a visible gasket under the eight-sided bezel, and a dial with more exaggerated details. While the original Royal Oak picked up the “Jumbo” nickname, the original Royal Oak Offshore was quickly dubbed “The Beast.”
Audemars Piguet soon expanded the Offshore line, and it’s home to a number of chronographs, divers, and complications — often featuring modern materials such as ceramic and rubber.
Audemars Piguet has made several generations of the standard Royal Oak Offshore Selfwinding 42mm so far:
- 1993: Royal Oak Offshore Chronograph 42mm ref. 25721
- 1996: Royal Oak Offshore Chronograph 42mm “Tropical” ref. 25770
- 2005 Royal Oak Offshore Chronograph 42mm “Themes” ref. 26170
- 2014: Royal Oak Offshore Chronograph 42mm ref. 26470
- 2021: Royal Oak Offshore Selfwinding Chronograph 42mm ref. 26238
What’s more, other sizes eventually joined the Offshore Selfwinding lineup including 37mm, 43mm, and 44mm versions. The current production references for these other sizes include:
- Royal Oak Offshore Selfwinding Chronograph 44mm ref. 26405
- Royal Oak Offshore Selfwinding Chronograph 43mm ref. 26420
- Royal Oak Offshore Selfwinding Chronograph 37mm ref. 26231
Particularly noteworthy versions of the ROO are the Royal Oak Offshore Diver models.
- 2010: Royal Oak Offshore Diver ref. 15703
- 2016: Royal Oak Offshore Diver Chronograph 42mm ref. 26703
- 2017: Royal Oak Offshore Diver ref. 15710
- 2021: Royal Oak Offshore Diver 42mm ref. 15720
Audemars Piguet Royal Oak Offshore Prices
| Royal Oak Offshore Ref. | MSRP (Retail Price) Sep 2023 | Avg. Market Price Sep 2023 | Avg. Market Price May 2023 | Avg. Market Price Aug 2022 | Avg. Market Price Feb 2022 | Avg. Market Price Aug 2021 |
|---|---|---|---|---|---|---|
| 25721ST | N/A | $27,700 | $25,500 | $34,400 | $31,900 | $27,200 |
| 26170ST | N/A | $20,000 | $21,200 | $24,700 | $26,900 | $21,200 |
| 26470ST | N/A | $23,100 | $25,700 | $28,800 | $29,000 | $24,600 |
| 26470OR | N/A | $56,300 | $65,900 | $59,000 | $61,600 | $52,700 |
| 26238ST | $38,600 | $53,000 | $53,100 | $64,800 | $61,300 | N/A |
| 26238TI | $38,600 | $42,800 | $45,600 | $56,200 | $60,000 | N/A |
| 26400SO | N/A | $27,000 | $31,200 | $34,400 | $36,200 | $33,500 |
| 26405CE | N/A | $36,700 | $35,900 | $46,000 | $44,500 | $40,300 |
| 26420SO | $42,200 | $39,000 | $42,900 | $53,600 | $48,000 | $40,600 |
| 26231ST | $37,700 | $38,900 | $39,400 | $44,400 | $54,400 | $35,600 |
| 15720ST | $30,200 | $32,000 | $32,000 | $40,000 | $35,900 | $31,300 |
And finally, it’s important to point out that Audemars Piguet has made plenty of complicated ROO models including Royal Oak Offshore Perpetual Calendar, Royal Oak Offshore Tourbillon, Royal Oak Offshore Grand Complication, and many others.
Audemars Piguet Royal Oak Price Guide
While this is certainly a comprehensive list of various vintage, discontinued, and new Royal Oak prices, it of course does not cover every RO model ever made. However, you can use it as a guide when researching prices for the Audemars Piguet Royal Oak you’re looking to buy.
To see historical and current pricing, check out our Audemars Piguet watch price guide that covers historical sales from 2016 to today, based on real sales (rather than listing prices).
As always, feel free to reach out to us at LuxuryBazaar.com about any particular Audemars Piguet Royal Oak — we either have it in stock at the best price or we can source it for you.
