Are Audemars Piguet Watches Good For Investment In 2025? (Best Models & ROI)

Audemars Piguet isn’t just a pillar of luxury watchmaking—it’s one of the sharpest-performing assets in today’s alternative investment market. Known for bold design language and technical innovation, AP timepieces have built a reputation not just for craftsmanship, but for consistent, long-term value growth.

In 2025, the brand remains firmly entrenched as a top-tier pick for investors chasing serious upside through exclusivity, tightly controlled production, and relentless global collector demand.

At major auctions hosted by Phillips, Christie’s, and Sotheby’s, Audemars Piguet routinely dominates the leaderboard. Early Royal Oak references and rare skeletonized complications regularly hammer at six- and seven-figure prices, reinforcing AP’s status as a true blue-chip collectible.

Importantly, AP’s investment potential extends beyond vintage grails. Modern references released within the past five years—particularly boutique-only and ceramic models—have shown annual appreciation rates between 8% and 14%, outperforming most traditional asset classes and placing Audemars Piguet among the most reliable luxury watch investments in 2025.

History of Audemars Piguet

Founded in 1875 in Le Brassus, Switzerland, Audemars Piguet began as a partnership between Jules Louis Audemars and Edward Auguste Piguet—two master watchmakers with a shared vision for mechanical innovation and independence.

Unlike many heritage brands now owned by conglomerates, Audemars Piguet remains family-owned and independently operated, a rare distinction in the luxury watch world and a key driver of its long-term investment value.

From the outset, the company specialized in high complications—tourbillons, perpetual calendars, and minute repeaters—earning a reputation among elite collectors and European royalty. However, the turning point in AP’s investment trajectory came nearly a century later, in 1972, with the introduction of the Royal Oak. Designed by Gérald Genta, it was the world’s first luxury sports watch in stainless steel, priced at ten times more than the average Rolex at the time.

Initially controversial, the Royal Oak ultimately redefined modern watch design. It laid the groundwork for what would become one of the most recognizable and investment-relevant product lines in luxury horology. By the 1990s, Audemars Piguet had doubled down with the Royal Oak Offshore, pushing into larger, more aggressive styling that resonated with a new generation of collectors and celebrities.

In 2019, AP introduced its first major new line in decades—Code 11.59—aimed at bridging traditional watchmaking with modern aesthetic tastes. While the launch was met with mixed reviews, the brand’s ability to maintain relevance while retaining its core DNA has only reinforced its long-term position in the collector’s market.

As of 2025, Audemars Piguet operates with a tight production cap of around 50,000 watches per year, ensuring supply remains limited while demand continues to rise globally.

The company’s independence gives it freedom to control releases, restrict distribution, and protect resale value—factors that significantly enhance its reputation as an investable asset.

Best Audemars Piguet Watches to Invest in

Audemars Piguet offers a curated catalog of high-performance timepieces, but only a select few have demonstrated consistent investment-grade returns. In 2025, value creation is largely driven by model scarcity, historical significance, and secondary market behavior.

Below are some of the most compelling Audemars Piguet watches to invest in this year, based on market demand, auction results, and historical ROI data:

1. Royal Oak “Jumbo” Extra-Thin Ref. 15202ST – $95,000–$120,000: As the modern iteration of the original 1972 Royal Oak, the 15202ST became the centerpiece of AP’s contemporary resurgence. Discontinued in 2022, it remains one of the most liquid assets in the watch world, often trading at 2–3x its original retail price.

• Key Features: 39mm stainless steel case, blue “Petite Tapisserie” dial, ultra-thin Caliber 2121 movement.
  
  
• Target Audience: Seasoned collectors and mid-to-long-term investors seeking a blue-chip asset.
  
  
• Investment Potential: Extremely strong; models in excellent condition show double-digit annual returns and strong auction demand.

2. Royal Oak Offshore Diver Ref. 15720ST – $35,000–$45,000: This reference combines the rugged DNA of the Offshore with the daily-wear practicality of a diver. Its bold aesthetics, ceramic accents, and low production volume make it a standout piece in a highly competitive segment.

• Key Features: 42mm stainless steel case, Mega Tapisserie dial, ceramic bezel, 300m water resistance.
  
  
• Target Audience: Diversified investors looking for high resale liquidity within the Offshore line.
  
  
• Investment Potential: Consistent 7–10% appreciation, with limited colorway variants showing faster value acceleration.

3. Royal Oak Perpetual Calendar Openworked Ref. 26585CM – $220,000–$260,000: Crafted in full black ceramic with a skeletonized dial, this reference merges technical complexity with material innovation. It remains one of AP’s most difficult models to source and commands a premium on the secondary market.

• Key Features: 41mm black ceramic case, openworked perpetual calendar movement, moonphase display.
  
  
• Target Audience: Ultra-high-net-worth investors focused on low-supply, high-complexity timepieces.
  
  
• Investment Potential: High. Auction premiums and strong collector interest suggest 15%+ annual ROI in limited supply markets.

4. Code 11.59 Selfwinding Chronograph Ref. 26393NB – $30,000–$35,000: Initially polarizing, the Code 11.59 collection has quietly gained momentum in the investment space, especially after AP introduced bi-color and smoked dial variants. This model combines future collectibility with attainable entry pricing.

• Key Features: 41mm two-tone case (ceramic and gold), in-house flyback chronograph movement, smoked blue lacquered dial.
  
  
• Target Audience: Early-stage investors seeking appreciation upside in a newer collection.
  
  
• Investment Potential: Moderate to strong, with low availability and growing market respect driving prices upward.

5. Royal Oak Offshore Chronograph “Brick” Ref. 26470OR – $60,000–$80,000: Known for its commanding rose gold case and integrated bracelet, the “Brick” is a statement piece that continues to draw strong resale activity in the U.S. and Middle Eastern markets.

• Key Features: 42mm rose gold case, integrated bracelet, chronograph function, black ceramic pushers.
  
  
• Target Audience: Investors seeking metal-premium watches with bold market appeal.
  
  
• Investment Potential: Solid; resale strength remains high due to regional popularity and gold content.

Audemars Piguet’s most investable models are not just technically impressive—they’re strategically scarce.

Limited production runs, selective distribution, and discontinued references fuel a strong aftermarket ecosystem. For investors in 2025, these five references represent high-conviction targets with strong upside and proven track records.

Features of Audemars Piguet Watches

Audemars Piguet watches are defined by bold design, mechanical innovation, and a commitment to artisanal excellence that reinforces their long-term value. The brand’s strategic independence, technical innovation, and carefully controlled production make its timepieces some of the most desirable and investment-relevant assets in modern horology.

A key differentiator is Audemars Piguet’s strict control over its manufacturing processes. The company produces its watches entirely in-house in Le Brassus, Switzerland, overseeing everything from movement engineering to case construction and hand-finishing. This vertical integration ensures uncompromising quality and allows AP to push technical boundaries while maintaining strict supply discipline.

The Royal Oak and Royal Oak Offshore collections feature some of the most complex case and bracelet construction in the industry. Each watch undergoes hundreds of hand-finished operations, with signature techniques like satin brushing, beveling, and mirror polishing—all of which contribute to a level of craftsmanship that directly affects resale desirability and long-term collectibility.

Audemars Piguet is also known for its innovation in mechanical movements. Its complications range from self-winding chronographs to minute repeaters, flying tourbillons, and perpetual calendars. The brand has developed notable calibers such as the in-house Calibre 4401 (chronograph with flyback functionality) and Calibre 5134 (ultra-thin perpetual calendar), both designed to balance reliability with complexity—traits investors value in long-term performance.

Material innovation plays a critical role in the brand’s appeal. Audemars Piguet has pioneered the use of advanced materials including forged carbon, black ceramic, titanium, and sand gold—each chosen for its durability, lightweight properties, and rarity. These materials not only differentiate AP from competitors but also enhance the technical and monetary value of each piece.

Durability and engineering integrity are central to AP’s reputation. The Royal Oak Offshore Diver, for instance, offers water resistance up to 300 meters, while ceramic cases provide exceptional scratch resistance. Many references also feature sapphire casebacks and high-resistance crystals, further protecting long-term functionality and aesthetic condition.

The brand’s boutique-driven sales model adds another layer of investment value.

Audemars Piguet has gradually removed itself from multi-brand retailers to focus exclusively on AP Houses and private client allocations. This tight control over distribution helps limit grey market saturation and protect resale value, particularly for high-demand references.

Audemars Piguet Watches Pricing

Audemars Piguet’s pricing structure reflects its commitment to low production volume, high craftsmanship standards, and tightly controlled distribution. Unlike brands that prioritize mass appeal, AP caps its output at roughly 50,000 pieces annually, ensuring continued scarcity across all major markets.

This approach directly impacts retail and secondary market prices. Most references—especially within the Royal Oak and Royal Oak Offshore lines—are subject to restricted allocation, often making it difficult for clients to purchase through authorized boutiques.

As a result, resale prices frequently exceed retail by a wide margin, particularly for steel sports models, ceramic-cased pieces, and complicated references.

The brand’s pricing varies significantly based on material, complication, and case architecture. Entry-level Code 11.59 models start just under $30,000, while limited Royal Oak Perpetual Calendars and skeletonized complications can exceed $250,000—if available at all.

Current & Recent Production Models

Discontinued & Collectible Audemars Piguet Models

Market Trends & Global Resale Market Insights

In the United States, Audemars Piguet maintains strong visibility in cities like New York, Miami, and Los Angeles. Authorized boutiques carry limited stock, and demand is particularly high for Royal Oak steel and rose gold references. Resale premiums average between 30–100% above retail depending on the model.

In Europe, AP continues to dominate in horologically informed markets like Switzerland, the UK, and Germany. The brand is especially popular among collectors focused on mechanical complexity, with high turnover on limited editions and vintage Offshores.

In Asia, particularly Hong Kong, Singapore, and Tokyo, Audemars Piguet has cemented its status as a generational wealth brand. Younger investors favor Offshore and Concept models, while traditional collectors focus on perpetual calendars and skeletonized references. In mainland China, demand continues to rise for boutique-only references and full gold models.

In the Middle East, AP watches are synonymous with prestige. Cities like Dubai and Doha see heavy trading activity for bold Offshore references, gem-set variants, and Royal Oak complications. Boutique exclusivity adds an additional layer of resale value in this region.

Key Factors Driving Audemars Piguet Pricing

• Brand Exclusivity – Annual production limits and boutique-only allocation keep supply constrained across all product lines.
  
  
• Material Complexity – Models in ceramic, forged carbon, or platinum command higher pricing due to limited production runs and manufacturing difficulty.
  
  
• Discontinued References – Once retired, key models often appreciate rapidly, especially those with strong collector followings.
  
  
• Controlled Distribution – AP’s decision to reduce wholesale exposure and focus on mono-brand boutiques helps stabilize retail-to-resale pricing.
  
  
• Auction and Secondary Market Momentum – High-profile auction sales and consistent dealer turnover have reinforced AP’s reputation as an appreciating asset class.

Investors who secure high-demand models through official channels—or who acquire rare, discontinued pieces in excellent condition—are well-positioned for sustained returns in the years ahead.

Audemars Piguet Watches Historical ROI

Audemars Piguet watches have earned their place as one of the most consistent performers in the high-end watch investment market. With tight production control, strong brand equity, and a proven collector following, the brand has delivered reliable capital appreciation across multiple model ranges.

In 2025, AP continues to compete at the top tier of alternative asset classes—often outperforming traditional investments in both return and stability.

Unlike trend-driven fashion watches or mass-market luxury brands, Audemars Piguet’s strength lies in its ability to balance scarcity, design prestige, and global collector interest—all of which directly influence resale pricing and long-term ROI.

Auction Statistics and Market Trends

Audemars Piguet remains a frequent headliner at major auctions hosted by Phillips, Christie’s, and Sotheby’s. In 2021, a rare Royal Oak “A-Series” Ref. 5402ST sold for over $800,000, signaling an accelerating shift in demand toward early-production AP steel sports watches.

In more recent years, full-ceramic perpetual calendars, skeletonized complications, and discontinued Royal Oak references have achieved strong premiums—often doubling or tripling their original retail prices.

Data from 2015 to 2025 shows that high-demand references like the Royal Oak 15202ST, Royal Oak Offshore “End of Days”, and Royal Oak Perpetual Calendar 26574ST have appreciated at annual rates between 10% and 15%, particularly in mint condition with full box and papers.

Even more conservative references, like early-generation chronographs and mid-range Offshores, have returned steady gains between 6% and 10% per year.

Importantly, Audemars Piguet’s strategic move toward mono-brand boutiques and controlled distribution since 2023 has further protected secondary pricing and reinforced long-term investor confidence.

Historical ROI for Key Audemars Piguet Models

• Entry-Level Models (Code 11.59, Royal Oak Quartz) – Prices range from $25,000 to $40,000, with 3–6% annual appreciation, ideal for first-time investors or collectors entering the AP market conservatively.
  
  
• Mid-Tier Models (Royal Oak Offshore Diver, Royal Oak Chronograph 26331ST) – With resale prices between $35,000 and $80,000, these models offer 8–12% annual ROI, driven by strong demand for sports aesthetics and AP’s complex case finishing.
  
  
• High-End & Complicated Models (Royal Oak Perpetual Calendar, 26240OR Chronograph) – Priced between $120,000 and $250,000, these watches deliver 6–10% annual appreciation, especially in ceramic or gold cases with low production volumes.
  
  
• Vintage References (5402ST A-Series, 14802 Jubilee Editions) – These rare, early Royal Oak references have posted 10–15% annual returns, fueled by growing neo-vintage interest and auction visibility.
  
  
• Ultra-Rare & Auction-Level Pieces (Concept Tourbillon, Skeleton Tourbillon 26343PT) – These watches do not follow standard appreciation curves and can see value increases of 300–500% over a 10–15 year period, depending on exclusivity, design, and auction cycles.
  

Future Projections for 2025 and Beyond

Industry analysts expect continued upward pressure on Audemars Piguet valuations through 2026 and beyond. This is especially true for Royal Oak references with discontinued calibers, boutique-only releases, and complicated skeletonized pieces.

Key factors supporting this investment trend include:

• Rising demand in Asia and the Middle East, particularly for sports complications and full-gold models
  
  
• Increased generational wealth among millennial and Gen Z collectors, who prefer contemporary case designs
  
  
• Strengthening secondary market infrastructure, including specialist dealers and AP Houses
  
  
• Institutional acceptance of high-end watches as alternative asset vehicles within luxury portfolios

In summary, Audemars Piguet watches have proven to be resilient, profitable, and globally respected assets across all major investor tiers. With the right model selection and market timing, AP offers some of the most consistent historical ROI in the modern luxury investment space.

Who Should Invest in Audemars Piguet Watches in 2025?

Audemars Piguet watches are no longer just symbols of mechanical mastery—they are fully recognized financial assets with a strong history of capital appreciation. In 2025, these timepieces offer strategic value to a range of investor profiles, from wealth preservationists to tactical collectors seeking elevated ROI in the alternative asset space.

• Long-Term Investors: Audemars Piguet is an optimal fit for investors seeking long-hold assets that appreciate gradually over time. Flagship models such as the Royal Oak Chronograph or the Royal Oak Perpetual Calendar are known for their consistent resale performance and low volatility. Thanks to the brand’s strict control over supply and pricing, these watches function as reliable wealth stores—especially when held over a 5 to 10-year horizon.
  
  
• Collectors: AP’s production volume is intentionally limited, and many of its most valuable references—like the Royal Oak “A-Series” or early Offshores—have a traceable lineage within modern watch history. Investors who prioritize museum-quality provenance and rarity will find value in discontinued references, first-generation models, and limited-run ceramic or titanium variants with documented serial history.
  
  
• Investors Targeting Limited Editions and Discontinued Models: Capitalizing on supply-demand asymmetry is one of the fastest routes to ROI in watch investing. Audemars Piguet excels in this area. Discontinued models like the Royal Oak 15202ST or boutique-exclusive Code 11.59 variants often spike in value post-discontinuation. Investors who can secure allocations early—or buy rare pieces just before they’re phased out—often capture returns far above market averages.
  
  
• High-Net-Worth Individuals: For UHNW investors seeking tangible stores of wealth outside equities, AP offers a compelling balance of utility and prestige. In global wealth hubs like Dubai, Singapore, and Monaco, Audemars Piguet watches are not only high-performing investments but also widely recognized markers of status. Select pieces, such as ceramic perpetual calendars or skeleton tourbillons, often sell privately at significant premiums.
  
  
• Global Investors Monitoring Auction Markets and Dealer Networks: For those who track international auctions, vintage dealers, and private resale platforms, Audemars Piguet is a consistent performer. Understanding reference trends, production quantities, and dial rarity provides the edge needed to buy low and sell strategically. Investors tuned into the high-end secondary market can take advantage of underpriced listings, off-market deals, and emerging reference hype before price surges occur.
  
  

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