Important Modern & Vintage Timepieces

Monaco, Jul 21, 2021

LOT 432

Audemars Piguet
Ref. 25654 BA, self-winding, perpetual calendar, gold dial; “Royal Oak”; 18K yellow gold

EUR 80,000 - 150,000

USD 95,900 - 179,900 / HKD 742,400 - 1,392,000

Sold: EUR 136,500

Fine and very rare, 18K yellow gold, self-winding, tonneau-shaped, gentleman’s wristwatch, gold colour dial, with perpetual calendar (date, day, month) and moon phases.

Grading System
Case: 2

Very good

Movement: 2*

Very good

Overhaul recommended, at buyer's expense

Dial: 2-01

Very good

HANDS Original

Brand Audemars Piguet, Le Brassus (Vallée de Joux)

Model “Royal Oak” “Perpetual Calendar”, No. 434

Reference 25654 BA

Year 1988

Movement No. 286 584

Case No. C 18508

Bracelet integrated 18K yellow gold AP bracelet with deployant clasp

Diameter 39 mm

Caliber 2120

Weight 180.85 gr. (approx.)

Signature dial, case and movement

Accessories original fitted box, certificate of origin


Brought to life by Gerald Genta in 1972, the design of the Royal Oak meets a growing success nowadays and is considered as one of the most important icon in the modern watchmaking history. Produced from 1982 to 1993, the ref. 25654 embodies the knowhow of Audemars Piguet which is the first manufacture to produce a luxury sports watch featuring a complication. Out of a total production of 800 pieces in all metal combined, 422 were made in yellow gold, 272 in stainless steel, 72 two-toned, 33 platinum and 1 white gold. Combining a perpetual calendar movement to a sports watch was, at the time, a very “avant-garde” way to approaching horology. The Champagne dial features the "Audemars Piguet" signature in small lettering, only found on the earlier examples of the reference 25654, before the brand adopted its modern signature style.