255 Audemars Piguet Sought After and Tasteful,Very Early Royal Oak Quantième Perpétuel, Automatic Wristwatch in Steel, Grey Opaline Dial, With Box, Warranty and Extract From the Archive

Estimate: €75,000 –⁠ 150,000

Model: Royal Oak Quantième Perpétuel
Reference: 25654ST
Case Material: Stainless Steel
Bracelet Material: Stainless Steel
Year: 1988
Movement: Automatic
Caliber: 2120
Case N°: N°199, C28279
Movement N°: 287094
Dimensions: 39 mm
Signed: Dial, Movement and Case
Accessories: Box, Warranty, Extract From the Archive and Service

The Audemars Piguet Royal Oak has revolutionized the world of luxury watches on numerous fronts. Introduced in 1972, it was the first-ever luxury sports watch, redefining expectations of what a high-end timepiece could be. A few years later, the Royal Oak became the first luxury sports watch to feature a complication, further cementing its place in horological history. The reference 25 654, which replaced the original Royal Oak Perpetual Calendar reference 25 554 in 1987, marks a significant evolution in this iconic line. Produced until 1998, the reference saw limited production with around 315 pieces in steel, 430 in yellow gold, 68 in steel and yellow gold, and a mere 38 in platinum, making it highly sought after by collectors. One of the primary differences between the 25 654 and its predecessor is its slightly thicker case (8.25 mm compared to the 7.5 mm of the 25 554), which was engineered to improve the watch’s water resistance capabilities. The present example, a very early reference 25654ST, showcases this design innovation, and is preserved in remarkable condition. All the original engravings on the case back remain clear and sharp, attesting to its excellent preservation. A standout feature of this watch is its stunning “opaline grey” dial, as stated on the extract, which beautifully complements the stainless steel case. The silvery grey tone of the dial, paired with the robust yet elegant steel case, offers one of the most visually captivating combinations seen in the perpetual calendar Royal Oak series. Adding to its desirability, this timepiece comes complete with its certificate of origin, an extract from the archives, and the original box, making it a prized collector’s item.