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Audemars Piguet is one of the most renowned and sought-after brands in the luxury watch industry. It represents elegance, accuracy, and classic craftsmanship. Knowing the balance between its price and value is essential for anyone who wants to invest in these remarkable timepieces. For many years, the brand has been acknowledged for producing luxury timepieces and for being a wise investment for connoisseurs. Investing in one, however, necessitates a careful balance of value and cost.

This guide explores the intricacies of purchasing these prestigious timepieces, enabling you to make an informed investment decision.

About Audemars Piguet Watches

The story of Audemars Piguet began in 1875 when Jules Louis Audemars and Edward Auguste Piguet founded what would grow to be one of the most renowned watch manufacturers in the world in the Vallée de Joux region of Switzerland. AP has maintained its dedication to quality for more than 148 years, making it one of the few family-owned watchmakers, compared to many luxury watch brands that have changed hands over the years.

Together with Patek Philippe and Vacheron Constantin, the brand holds a special place in the luxury watch industry as a member of the unofficial “Holy Trinity” of Swiss watchmaking. Despite making fewer watches each year than many of its competitors, it maintains high-quality standards and innovations that justify its premium stance.

The Royal Oak line, which debuted in 1972, is without a doubt the cornerstone of AP’s modern identity. Gerald Genta’s groundbreaking design, which introduced the idea of a high-end sports watch made of stainless steel, revolutionized the luxury watch market. The Royal Oak, the Royal Oak Offshore, the Code 11.59, and the Millenary collection are all part of AP’s portfolio, and each has its unique value propositions and features.

How Much is an Entry-Level Audemar?

Both new and pre-owned markets should be explored in order to determine the entrance point for Audemars Piguet ownership. The steel version of the 33mm Royal Oak Quartz (ref. 67650ST) is the cheapest as of 2023, priced at $17,300. The most affordable new Audemars Piguet with mechanical movement is the 34mm automatic Royal Oak ($25,300). The Royal Oak is also the gateway to the world of AP.

The actual entry point is a 33mm stainless steel quartz Royal Oak, which costs $15,400. The cheapest new AP timepieces as of 2024 usually cost between $20,000 and $30,000, mostly for stainless steel models from the Code 11.59 line. Even in its most basic form, the renowned Royal Oak collection typically fetches higher prices; new pieces from authorized dealers start at about $35,000. Buying a new AP involves more than just having the necessary funds.

At authorized dealers, many models especially those in the Royal Oak collection have lengthy waiting lists that can last for years. Due to scarcity, many pieces now sell for much more on the secondary market, making retail pricing somewhat speculative.

Factors Influencing the Price of AP Watches

There are several complex factors that affect Audemars Piguet watch prices. The type of material used is important, with stainless steel versions serving as the entry point. Because they are so iconic and in such high demand, steel Royal Oaks cost premium prices even if their material costs are lower. Ceramic models are in the middle of these two extremes, while those made of precious metals, such as gold and platinum,  cost higher prices.

Movement complexity has a considerable impact on the pricing. Simple automatic movements are the most basic type, whereas minute repeaters, chronographs, and perpetual calendars are examples of complications that significantly raise pricing. In-house motions from AP are especially recognized for their superior technicality and finishing.

In today’s AP pricing, market dynamics are quite important. On the secondary market, many models are trading above their retail cost due to a combination of high demand and limited production. For stainless steel Royal Oak models, market pricing might be at least 50% more than retail. A watch’s provenance and condition have a big impact on its value, especially when it comes to the pre-owned market. Prices might vary by hundreds of dollars depending on the condition, service history, and original boxes and documents.

Our Picks for the Cheapest Audemars Piguet Watches in 2025

1. Audemars Piguet Code 11.59 Ref. 15210BC.OO.A002CR.01

Price range: US$17,500 to US$29,000
Year of issue: 2019
Case size: 41 mm
Case material: white gold
Dial colour: black
Bezel Material: white gold
Movement: Automatic
This watch belongs to AP’s youngest luxury watch collection, the Code 11.59, launched in 2019. It is elegantly designed with a casual-chic aesthetic and features a 41mm polished 18K white gold case.

The AP Code 11.59 Ref. 15210BC.OO.A002CR.01 has a sleek black dial with a lacquered inner bezel that enhances the overall design and gives the watch a luxurious look. The dial’s hour markers are a mix of Arabic numerals and hour markers. A secondary dial complements the main dial to display the minutes at five-minute intervals.

In addition to its clean and sophisticated look, this watch is a reliable timekeeping companion. It is driven by a powerful automatic movement with a power reserve of up to 70 hours, which is remarkable for a mechanical watch. It is also highly durable and water resistant up to 30 meters.

2. Audemars Piguet Royal Oak Offshore Diver Ref. 15703ST.OO.A002CA.01

Price range: $16,000 – $28,000
Year of release: 2010
Case size: 42 mm
Case material: steel
Dial colour: black
Bezel Material: steel
Movement: Automatic
The Audemars Piguet Royal Oak Offshore Ref. 15703ST.OO.A002CA.01 is an elegant and durable diving watch from the AP brand. It is also one of the most affordable watches for those who buy Audemars Piguet watches for diving and other water adventures.

This Royal Oak Offshore watch is 42 millimetres x 13.75 millimetres. This size makes it stand out on the wrist, but that’s not surprising for a dive watch. These watches are usually of sturdy construction, and this one is no exception. It is made of durable stainless steel and is water resistant up to 300 meters.

The Offshore Diver 15703ST has an additional crown located at the 10 o’clock position in addition to the main crown. This crown controls the watch’s inner (diving) bezel and is ideal for timing underwater adventures. The dial, hour markers, and baton hands are also coated with luminescent material for improved underwater readability. This Offshore model is driven by a powerful internal movement with a 60-hour power reserve.

3. Audemars Piguet Royal Oak Offshore Chronograph “Rubber Clad” Ref. 25940SK.

Price range: $18,000-$25,000
Year of issue: 2002
Case size: 42 mm
Case material: steel
Dial colour: black
Bezel Material: steel
Movement: Automatic
Released in 2002, the Audemars Piguet Royal Oak Offshore Ref 25940SK is one of the older watches in the Audemars Piguet Royal Oak Offshore collection. At its release, this watch made history with its rubberized bezel, making it the first luxury watch to have rubber as one of its main components. The octagonal bezel of this watch has a rubber coating that wraps around the actual bezel, which is made of either stainless steel or 18K rose gold, depending on the specific model.

The Ref 25940SK was also one of the first luxury watches to feature a rubber strap rather than a traditional bracelet or leather strap. Other parts of this watch, including the crown and pushers, are also covered in rubber, giving the watch a sporty and rugged look. This innovative use of materials highlights Audemars Piguet’s watchmaking expertise and creative ingenuity.

An automatic mechanical movement with data and chronograph functions drives the watch. Three subdials on the dial display the chronograph functions, and their bold white colour stands out against the dark background.

4. Audemars Piguet Royal Oak Selfwinding Ref. 77350ST.OO.1261ST.01

Price range: $27,000-$40,000
Year of release: 2020
Case size: 34 mm
Case material: steel
Dial colour: Silver
Bezel Material: steel
Movement: Automatic
The Audemars Piguet Ref. 77350ST is a versatile watch for every occasion. Launched in 2020, it was the first watch in Audemars Piguet’s Royal Oak collection to feature a 34mm case size. This is the traditional women’s size, but it can also be worn by men who prefer a smaller dial.

The watch features a stainless steel case and a silver dial with AP’s iconic “Grand Tapisserie” motif. The dial features white gold-applied hour markers and classic Royal Oak hands with luminescent coating for improved readability. As an additional feature, the watch only has a date window, keeping the dial simple and clean.

The Royal Oak Ref. 77350ST is designed for durability and features a sturdy stainless steel case that protects the self-winding movement that powers the watch. Water resistant to 50 meters, this watch suits swimming and some light recreational diving. It is driven by a self-winding movement with a power reserve of 50 hours.

5. Audemars Piguet Jules Audemars Ultra Thin 15180BC.OO.A002CR.01

Price range: $12,000-$17,000
Year of issue: 1990
Case size: 41 mm
Case material: white gold
Dial colour: Silver
Bezel: white gold
Movement: Automatic
The Jules Audemars Ultra Thin is a classic AP watch introduced in the 1990s. Perfect for AP fans who prefer a simple yet elegant formal watch with a classic look, the Ref 15180BC is a 41-mm watch with a round white gold case. The crown and bezel are also white gold, and the dial is silver-plated with gold-coloured hour markers and hands.

This elegant formal watch has an ultra-thin profile and slips easily into a cuff for the most formal attire. It sits beautifully on the wrist with a smooth leather strap and maintains the watch’s minimalist silhouette. Powered by reliable automatic movement, this watch keeps accurate time and has a power reserve of up to 40 hours. If you’re on a budget between $12,000 and $17,000 and don’t mind buying a classic AP watch, this is for you.

6. Audemars Piguet Royal Oak Selfwinding Ref. 15400ST.OO.1220ST.01

Price range: $30,000-$39,000
Year of release: 2012
Case size: 41 mm
Case material: steel
Dial colour: black
Bezel Material: steel
Movement: Automatic
This watch is an Audemars Piguet Royal Oak self-winding watch with a 41mm stainless steel case and one-piece bracelet in the same material. It has a solid black dial with a “Grande Tapisserie” pattern that adds some character.

There is a date window next to the hour markers at the 3 o’clock position, but other than that, the watch is pretty simple and has limited functionality. The hour markers are made of white gold, complementing the stainless steel case, and are coated with a luminescent coating for improved readability. The dial and case back are protected by an anti-glare sapphire crystal.

Inside the watch is the self-winding AP Calibre 3120 movement with large seconds and date functions. This highly reliable movement has a power reserve of 60 hours. The movement is protected by a screw-down crown that keeps it hydrated in diving conditions up to 50 meters.

7. Audemars Piguet Millenary Ref. 15350ST.OO.D002CR.01

Price range: $12,000-$15,000
Year of issue: 2011
Case size: 47 mm
Case material: white gold
Dial colour: black
Bezel Material: white gold
Movement: Automatic
AP Ref. 15350ST belongs to Audemars Piguet’s Extraordinary Watches collection, which features a distinctive oval case, a decentralized dial and a skeletonized movement that reveals the 3D structure of the watch’s internal components. These unique aesthetic features ensure that they stand out on any wrist.

While the Millenary collection includes some super-expensive models, such as the Millenary Minute Repeater, Ref, 26371TI, which retails for over $200,000, some models are also relatively inexpensive, such as the Millenary 4101, which sells for as little as $15,000 on the secondary market.

Launched in 2011, the AP Millenary 4101 features a self-winding movement in a 47-millimeter-in diameter white gold case, making it suitable for men. Despite its complex appearance, this watch only displays the time, but it is elegantly decorated with a skeletonized movement visible on the side of the dial.

8. Audemars Piguet Royal Oak Offshore Chronograph Ref. 26470ST.OO.A104CR.01

Price range: $20,000-$25,000
Year of issue: 2014
Case size: 42 mm
Case Material: two-tone (steel and titanium)
Dial colour: grey
Bezel Material: steel
Movement: Automatic

If you are looking for a relatively affordable Audemars Piguet watch equipped with a chronograph function, this Royal Oak Offshore Chronograph 42 is a good choice. This unique watch is powered by a self-winding mechanical movement with a chronograph function. This powerful movement has 365 individual parts and a power reserve of 50 hours. Due to its large 42mm case size, collectors have nicknamed this watch “The Elephant.”

This watch’s case has a unique two-tone design and is made of stainless steel and titanium. It has a giant grey brocade dial with three contrasting counters for the chronograph function and a date window at 3 o’clock. The dial’s black Arabic numerals are covered with a black luminescent coating for improved readability. The watch’s ceramic screw-down crown protects it from moisture damage at a depth of 100 meters.

Are Cheap Audemars Piguet Watches Worth It?

“Cheap” is a relative term when referring to Audemars Piguet. Any AP is a major investment, even though some models could be less expensive than others. This investment’s worth is determined by several things. AP watches have a history of retaining their value well from an investment perspective, especially when it comes to Royal Oak models.

Analysis of pricing patterns over the years reveals a notable increase, despite some market instability, especially around 2021. The brand’s strong demand and limited production indicate sustained value stability. Evaluating risk is essential when choosing cheaper AP watches. Condition, authenticity, and future maintenance expenses are the main issues.

Owning an AP comes with immeasurable benefits like the experience of owning a work of horological art and the status of wearing one of the best timepieces in the world.

Cheapest Audemars Piguet Watches

There are a few options available when looking for the cheapest AP watches. The Code 11.59 series is the most affordable entry point for new timepieces in the current collection. Even though they are not as famous as the Royal Oak, these watches are very affordable for their quality and brand history.

The pre-owned market offers wider value prospects. Early Royal Oak models from the 1990s and early 2000s are affordable, especially in less popular sizes or configurations.

Sometimes, discontinued models from collections such as the Millenary or Jules Audemars series are available for comparatively low costs. Using a multi-channel strategy is necessary to find the best deals. While authorized dealers have limited inventory and no discount, they give the security of authenticity and factory warranty.

Lower prices can be found on the grey market, but there are also risks involved. Auction houses offer chances for both potential value and rare finds, but they are difficult to navigate without experience.

Cheap Vs Fake Audemars Piguet Watches

The high price of AP watches has resulted in a proliferation of counterfeits. Authentication is important, especially when bargain prices are involved. Every aspect of authentic AP watches, from the bracelet design to the movement decoration, demonstrates superb finishing quality. The price itself serves as an indicator of authenticity. Although discounts are available, any price that is far lower than the going rate might raise suspicions.

To match your watch, you should purchase a Audemars Piguet Watch Winder. This way, you can store your luxury item in the best possible condition. Even better, you can buy the best Audemars Piguet watch winders through Mozsly.

Conclusion

Success in finding value in AP watches requires knowledge of market dynamics, patience for the ideal moment, and expectations regarding availability and pricing. The key is striking a balance between the requirement for authenticity and quality and the desire for the best deal, whether you’re picking a vintage Royal Oak or a new Code 11.59.

For most buyers, the sweet spot is not finding the absolute cheapest AP watch, but rather picking pieces that give the best value proposition while considering factors such as condition, reference number, and long-term collection.

FAQ About Audemars Piguet Watches

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