Geneva, Nov 07, 2021

LOT 453


CHF 200,000 - 300,000

HKD 1,690,000 - 2,530,000 / USD 218,000 - 326,000 / EUR 188,000 - 280,000

Sold: CHF 462,500

A very fine and extremely rare, self-winding, stainless steel perpetual calendar wristwatch.

Grading System
Case: 2

Very good

Movement: 2

Very good

Dial: 2-01

Very good

HANDS Original

Brand Audemars Piguet

Model Royal Oak Perpetual Calendar

Reference 25654ST.OO.0944ST.02

Year Sold in December 1996

Movement No. 373945

Case No. D-27464, No. 893

Bracelet Stainless steel Audemars Piguet bracelet with deployant clasp, approx. overall length 155 mm

Diameter 39 mm

Caliber 2120/2800, 38 jewels

Signature Dial, Case and Movement

Accessories Audemars Piguet winding box, extra leather green box, certificate of origin, extract from the archives, instruction booklet, Audemars Piguet complete overhaul certificate dated April 2021 for 2 years (still under warranty), original crown (without AP logo), push pin and 4 extra links


According to the collector book on calendar watches published by Audemars Piguet the first reference of the Royal Oak perpetual calendar was the reference 25554 which was produced from 1983 to 1991 in steel, two-tone, yellow gold and platinum (made respectively in 49 examples in steel, 229 in yellow gold/two-tone and 1 in platinum). The second version (not counting the skeletonised version), like this watch was launched in 1982 and sold until approximately 1998 (272 pieces in steel, 422 in yellow gold, 72 two-tone, 1 in white gold and 33 in platinum), meaning that during its entire production of 15 years, only about 15 pieces a year were sold in stainless steel worldwide. Hardly recognisable from the first versions, only slightly thicker (0.75 mm in fact), one can notice these early examples by the lack of leap year indicator (according to Audemars Piguet these new versions were launched around 1993 with the new caliber 2120/2802). Usually found with a silver or black dial, other colours are extremely rare and now very sought-after.
This example is fitted with the most desirable version of the salmon dial. Usually found on Jubilee or platinum versions, an email conversation with Audemars Piguet confirmed that this example was born with a salmon dial despite the wrong code on the original certificate. Just completely overhauled the watch is ready to be worn and enjoyed with probably one of the most striking dials (along with the Yves Klein) ever made on the perpetual calendar.