Audemars Piguet Code 11.59 buying guide: references, prices and resale

Code 11.59 by Audemars Piguet is the round-cased line the brand launched in January 2019 as its first new collection in decades: a 41 mm case built from a round bezel, an octagonal middle case and a round caseback, with open-worked lugs welded to the bezel and a double-curved sapphire crystal. It began in white and pink gold only, and the 2023 arrival of stainless steel models with an embossed dial and a 38 mm size turned a line that had been hard to sell into one buyers now ask for by reference. This guide covers the references worth knowing, the calibres, how the gold and steel models differ, what the watches cost at retail and on the secondary market in 2026, and what to check before buying one pre-owned. Bizak & Co. sources Code 11.59 to order; the Code 11.59 collection lists the configurations we can seek.

Last reviewed on September 21, 2026 by Filip Biczak. Prices are dated observations, not quotes.

What is Code 11.59 by Audemars Piguet?

Code 11.59 was announced at the SIHH fair in Geneva in January 2019 as a complete collection of thirteen models across six calibres, rather than a single watch. The name stands for a phrase the brand used at launch, "Challenge, Own, Dare, Evolve", with 11.59 marking the last minute before a new day. The design idea is a round watch that only looks round from the front: seen from the side, an octagonal middle case sits between the round bezel and caseback, and the lugs are hollowed and attached to the bezel rather than to the case body. The crystal is curved in two directions, vertically on the inside and domed on the outside, which is why the dials look different at every angle. Every model is powered by an in-house movement, which was the point of the exercise: the collection was built to show the calibres 4302, 4401 and the complications that arrived in 2019 and after. Audemars Piguet's own watch collection page lists the current line-up.

Code 11.59 references and calibres

The reference structure follows the brand's usual pattern: the first five digits name the model, the letters after them name the case material (OR pink gold, BC white gold, ST steel, CR steel and pink gold, NR ceramic and pink gold, QT ceramic and steel), and the final group names the dial and strap.

What changed in 2023: steel cases and the embossed dial

The 2019 launch models had smooth lacquered dials, and much of the early criticism was aimed at those dials rather than the case. In January 2023 Audemars Piguet added stainless steel versions of the Selfwinding and Chronograph with a new dial stamped with a concentric pattern created with the guilloche maker Yann von Kaenel, and a 38 mm case for the Selfwinding. The steel models cost far less than the gold originals, the textured dial gave the double-curved crystal something to play with, and the reception changed almost overnight. The embossed dial then spread to gold models, and later two-tone (steel with pink gold bezel) and ceramic-and-steel versions followed. If you are comparing a 2019 to 2022 example with a 2023 or later one, the dial is the first thing to look at: smooth lacquer on the early watches, stamped texture on most later ones.

Selfwinding 15210 or Chronograph 26393?

The Selfwinding is the thinner and quieter watch and sits under a cuff; the Chronograph is the one most collectors picture because the sub-dials give the dial a reason for its size. The calibre 4401 is the same integrated chronograph movement used in the Royal Oak Chronograph 26240, which is a point in the 26393's favour if you want the Royal Oak's engine in a round case.

Gold, steel, two-tone or ceramic: which case?

• Pink gold (OR). The original launch metal and still the most common on the secondary market. Warm, heavy, and the most discounted from retail when pre-owned because the early lacquer-dial examples sold slowly.
• White gold (BC). Same weight as pink gold, cooler colour; often paired with blue, grey or burgundy dials. Fewer made than pink gold.
• Steel (ST). Introduced 2023, the most affordable route into the line and the one with the smallest gap between retail and secondary asks. Our catalogue showed steel examples from about US$24,000 on 21 September 2026.
• Two-tone (CR) and ceramic mixes (NR, QT). Steel or ceramic middle cases with gold or ceramic bezels; they show the octagonal middle case most clearly because the colour changes at each layer.

How does Code 11.59 wear?

At 41 mm the Selfwinding wears smaller than the number suggests because the lugs are short and curve down steeply, and the case is only about 10.7 mm thick. The Chronograph adds about 2 mm. The hollowed lugs mean the watch sits close to the wrist rather than perched on it. The 38 mm 77410 suits wrists under about 16.5 cm (6.5 inches) and is worth trying before assuming the 41 mm is the only option. Straps are alligator with a pin or folding buckle; rubber straps arrived on some later references. There is no bracelet option on the standard Selfwinding and Chronograph, which is one of the most common requests we hear and one we cannot fulfil.

How much is a Code 11.59? Retail and secondary prices in 2026

• Retail. Audemars Piguet publishes prices on its own site by market. In 2026 the steel Selfwinding has sat in the mid-US$20,000s at retail, the steel Chronograph in the low-to-mid US$30,000s, and the gold versions roughly US$10,000 to 15,000 above their steel equivalents; check the brand's collection page for the current figure in your currency.
• Secondary market. Early gold examples with lacquer dials traded well below retail from 2019 to 2022 and have only partly recovered. Steel embossed-dial models have held close to retail since 2023 because demand exceeded the modest allocation. Complications (Perpetual Calendar, Flying Tourbillon, Starwheel) are priced case by case and rarely appear.
• Bizak catalogue asks. On 21 September 2026 our sourced catalogue listed a steel Selfwinding 15210ST green dial at US$26,677, a steel Chronograph 26393ST at US$29,099 (green) and US$33,480 (blue), pink gold Selfwinding models from US$32,922, pink gold Chronographs from US$39,655, a white gold Chronograph 26393CR grey dial at US$46,221, 38 mm pink gold 77410OR models from US$33,387, and pre-owned pink gold Selfwinding examples from about US$20,500, all sourced to order.

Those figures describe what we saw and will move. Ask for a dated quote for the exact reference, dial and set; our Audemars Piguet price guide explains how to compare quotes across the range.

Is Code 11.59 a good investment? Resale in practice

Treat it as a watch to own rather than to flip. The gold launch models are the clearest example in recent memory of a major brand's new line being marked down on the secondary market, and anyone who bought at retail in 2019 has had a long wait. That same history makes a pre-owned pink gold 15210 or 26393 one of the better-value ways to own an in-house Audemars Piguet chronograph in gold today. The steel models are different: allocation is limited, asks have stayed at or near retail, and a full-set steel Chronograph is easier to resell than almost any other non-Royal Oak AP. Buy the dial and case you want, keep the box, warranty card and any spare strap, and expect a resale value that tracks retail rather than the Royal Oak's premium.

Buying a pre-owned Code 11.59: what to check

• Warranty card and serial. The card should name the full reference and match the case serial; Audemars Piguet issues a card with each new watch and does not reissue lost ones. Warranty is five years from purchase on current production.
• Crystal. The double-curved sapphire is the most expensive single part on the watch; check the outer dome for chips at the edge where it meets the bezel.
• Lugs. The open-worked lugs are welded to the bezel; look for scratches inside the hollows, which polishing cannot reach, and for any misalignment between the lugs and the octagonal middle case.
• Dial. Lacquer dials (2019 to 2022) should be flawless; any speck under the crystal is permanent. Embossed dials should show a crisp, even stamping with no flattened areas.
• Chronograph function. On a 26393 the pushers should have a firm, even action and the seconds hand should reset exactly to zero; the flyback should restart cleanly with one press while running.
• Strap and buckle. Original alligator straps carry the AP stamp inside; the folding buckle is a signed AP part and a replacement is costly.
• Price against the band. A steel Chronograph offered well under retail with a full set is the most reliable warning sign; gold examples at a discount are normal.

Our authentication process describes what we inspect before dispatch, and the brand's services page explains factory servicing and extracts for older watches.

Quick answers

How much is an Audemars Piguet Code 11.59?

Steel models have sat in the mid-US$20,000s to mid-US$30,000s at retail in 2026 depending on complication, with gold versions higher. Bizak's sourced catalogue listed steel examples from about US$24,000 and pink gold Selfwinding models from US$32,922 brand new on 21 September 2026, sourced to order.

What does Code 11.59 mean?

Code stands for Challenge, Own, Dare, Evolve, the phrase Audemars Piguet used at the 2019 launch, and 11.59 marks the last minute before a new day begins.

Is Code 11.59 made in stainless steel?

Yes, since January 2023. The Selfwinding and Chronograph arrived in steel with an embossed dial, and a 38 mm Selfwinding was added at the same time. The 2019 to 2022 models were white or pink gold only.

What movement is in the Code 11.59 chronograph?

Calibre 4401, an integrated flyback chronograph with a column wheel and 70 hours of power reserve, the same movement family used in the Royal Oak Chronograph 26240.

Does Code 11.59 hold its value?

Steel embossed-dial models have held close to retail since 2023. Early gold lacquer-dial examples traded below retail for years and remain the value route into the line.

Request a Code 11.59 sourcing quote

Tell us the reference, case metal, dial colour, condition and whether the warranty card is required, plus your budget and timing, through our sourcing enquiry form. We confirm the specific watch, photographs, card and final price before you commit. Catalogue entries: Selfwinding 15210ST green dial, Chronograph 26393ST blue dial, Selfwinding 15210OR pink gold blue dial, 38 mm 77410OR; browse the Code 11.59 collection, the Audemars Piguet collection, or sell or trade your Code 11.59.

Related reading: Audemars Piguet price guide · Royal Oak authentication and collecting guide · Patek Philippe price guide · Rolex Daytona 126500LN guide.