Royal Oak Offshore References Guide: 26470, 26480, 15720

The Audemars Piguet Royal Oak Offshore covers three distinct references that buyers regularly confuse: the 26470 chronograph in precious metal, the 26480 chronograph in titanium, and the 15720 Diver, a three-hand tool watch without a chronograph. All three share the 42 mm Offshore case that Emmanuel Gueit designed in 1993 as an oversized development of Gerald Genta's 1972 Royal Oak, but they answer different briefs: dress chronograph, sport chronograph and dive watch. This guide sets out what each reference is, how the 26470 and 26480 differ from each other, how the 15720 differs from both, and current sourcing prices. Bizak & Co. sources all three to order; the Royal Oak Offshore collection lists the configurations we can seek.

Last reviewed on September 26, 2026 by Filip Biczak. Prices are dated observations, not quotes.

Royal Oak Offshore references at a glance

Source: Audemars Piguet watch collection for current Royal Oak Offshore references, and the Audemars Piguet services page for warranty and service policy.

What is the Royal Oak Offshore, and why does it have so many references?

Audemars Piguet launched the Royal Oak Offshore in 1993 as a larger, more assertive take on the 1972 Royal Oak, nicknamed "The Beast" at its debut for a 42 mm case that looked huge next to the original 39 mm Royal Oak. Three decades on, the Offshore has splintered into parallel families across chronographs, divers, tourbillon chronographs and skeletonised pieces, each carrying its own reference block. The 26470, 26480 and 15720 sit in that spread: the first two are chronograph siblings distinguished mainly by case metal, and the third drops the chronograph entirely for a dive-focused three-hand layout. Knowing which family a reference belongs to, rather than memorising every number, is the fastest way to read an Offshore listing.

26470 vs 26480: what actually differs

Both the 26470 and 26480 are 42 mm Royal Oak Offshore Selfwinding Chronographs with the same octagonal bezel, screw pattern and Méga Tapisserie dial treatment. The practical difference is case metal and the weight and feel that follows from it. The 26470 runs chiefly in rose gold and yellow gold, with dial colours from black and grey to blue, and a small number of steel executions; it is the reference to buy for an Offshore that reads as dressier and heavier on the wrist. The 26480 is built in titanium, which keeps the same 42 mm silhouette but cuts noticeably on wrist weight and gives a cooler, more matte finish than polished gold. Both use Audemars Piguet's automatic chronograph movement architecture with a column wheel and date at 3 o'clock; neither is a flyback. Buyers choosing between them are really choosing a material and a dress code, not a different watch.

15720: the Offshore without a chronograph

The Royal Oak Offshore Diver 15720 replaced the earlier 15703 around 2019 with an updated case and crown guard, and it remains the only one of these three references built for diving rather than timing laps. It drops the chronograph pushers entirely in favour of a unidirectional rotating bezel with a ceramic insert and a screw-down crown, and Audemars Piguet rates it to 300 m, three times the depth rating of the 26470 and 26480 chronographs. It is offered in steel, titanium and white gold, including limited runs with ceramic bezel inserts in colours such as blue, green and grey. Visually it keeps the Offshore's octagonal bezel and exposed screws, so from six feet away it reads as family with the chronographs; up close, the rotating bezel and absent pushers are the giveaway.

How the Offshore chronograph compares with the standard Royal Oak Chronograph

Collectors who want the Royal Oak look with less bulk generally move to the standard Royal Oak Chronograph rather than an Offshore; those who want the Offshore's oversized, sculpted case buy the 26470 or 26480 and accept the added heft.

How does the Royal Oak Offshore wear?

At 42 mm with a thick, sculpted case, the Offshore chronograph wears larger than its diameter suggests, closer in presence to a 44 mm watch from another maker because of its case height and the depth of the crown guards and pushers. The 26480's titanium build is the noticeably lighter option of the two chronographs and suits daily wear better on smaller wrists that still want the Offshore look. The 15720 Diver wears similarly in diameter but loses the pusher bulk at the case sides, so it sits slightly flatter against the wrist despite the taller bezel. Wrists above about 16.5 cm (6.5 inches) carry any of the three comfortably; below that, the standard Royal Oak or the smaller Royal Oak Diver 15710 are worth comparing first.

Bizak's sourced catalogue: 26470, 26480 and 15720 in 2026

• 26470. On 26 September 2026 our sourced catalogue listed pre-owned rose gold and yellow gold 26470 examples from roughly US$38,800 to US$74,700 depending on dial, bracelet or strap, and box and papers, sourced to order.
• 26480. The titanium 26480 listed at roughly US$26,000 pre-owned on the same date, the most accessible entry point of the three references in Bizak's sourced catalogue.
• 15720. Steel 15720 Divers listed from roughly US$29,300 to US$33,000 depending on bezel colour, with a white gold limited edition around US$51,500, all pre-owned and sourced to order.

Those figures describe what we saw on the date noted and will move with condition, set and demand. Ask for a dated quote for the exact reference, metal and dial; our Audemars Piguet price guide explains how to compare quotes across the catalogue.

Is the Royal Oak Offshore a good investment?

The Offshore family is broad enough that blanket answers do not hold. Steel chronographs from the 1990s and early 2000s in unpolished condition have held collector interest well, while more recent precious metal executions like the 26470 tend to track the gold price and general demand for the model rather than commanding a strong premium. The 15720 Diver, being a smaller and less common niche within the Offshore range, has a thinner resale market than the chronographs, so liquidity can take longer. Buy any of the three because the size, materials and specific reference suit you; treat resale as a secondary consideration and ask for a written cash-buy assessment if it matters to your decision.

Buying a used Royal Oak Offshore: what to check

• Bracelet and case screws. The Offshore's signature screws should sit flush and show consistent finishing; stripped or replaced screws suggest amateur servicing.
• Crystal and gasket ring. Check the exposed gasket ring under the crystal for cracking or discolouration, a wear point specific to the Offshore case design.
• Chronograph function (26470, 26480). Start, stop and reset should be crisp with no drag on the seconds hand; test all three pushers before buying.
• Bezel action (15720). The rotating dive bezel should click firmly in one direction only, with no play or skipped clicks.
• Rubber strap condition. Many Offshore references pair a metal case with a rubber or hybrid strap that perishes faster than the watch; budget for replacement on older examples.
• Papers and service history. Audemars Piguet's warranty and service records matter more for Offshore references than for many other brands, given the model's history of aftermarket customisation.
• Price against the band. A full-set Offshore offered well under the sourced-catalogue range above is the single most reliable warning sign.

Our authentication process describes what we inspect before dispatch.

Quick answers

What is the difference between the AP 26470 and 26480?

Both are 42 mm Royal Oak Offshore Selfwinding Chronographs with the same case design. The 26470 is built chiefly in rose gold or yellow gold; the 26480 is built in titanium, which is noticeably lighter on the wrist.

Does the Royal Oak Offshore 15720 have a chronograph?

No. The 15720 is the Royal Oak Offshore Diver, a three-hand watch with date and a rotating dive bezel rated to 300 m. The 26470 and 26480 are chronographs rated to 100 m.

What replaced the Royal Oak Offshore 15703?

The 15720 Diver, introduced around 2019 with an updated case and crown guard, replaced the 15703.

How much is an Audemars Piguet Royal Oak Offshore in 2026?

Bizak's sourced catalogue on 26 September 2026 listed pre-owned examples from about US$26,000 for a titanium 26480 chronograph to about US$74,700 for a full-set gold 26470, and from about US$29,300 for a steel 15720 Diver, all sourced to order.

Is the Royal Oak Offshore the same size as the Royal Oak?

No. The Offshore runs 42 mm with a taller, more sculpted case, while the standard Royal Oak Chronograph runs 38 to 41 mm depending on reference and wears noticeably slimmer.

Request a Royal Oak Offshore sourcing quote

Tell us the reference, case metal, dial colour and whether box and papers are required, plus your budget and timing, through our sourcing enquiry form. We confirm the specific watch, photographs, papers and final price before you commit. Catalogue entries: 26470 rose gold chronograph, 26480 titanium chronograph, 15720 steel Diver, blue bezel; browse the Royal Oak Offshore collection, the wider Audemars Piguet collection, or sell or trade your Offshore.

Related reading: Royal Oak authentication and collecting guide · Audemars Piguet price guide · Richard Mille price guide · Rolex price guide.