An Audemars Piguet costs from the mid US$20,000s at retail for the least expensive steel Code 11.59 or Royal Oak to several hundred thousand dollars for a Royal Oak Concept or a grande complication, and on the secondary market the entry point in September 2026 was just under US$20,000 for a pre-owned Royal Oak Offshore Diver. The manufacture runs four current collections, Royal Oak, Royal Oak Offshore, Royal Oak Concept and Code 11.59, and the price of a given watch depends far more on which collection it belongs to, its metal and whether it is allocated or freely available than on the movement inside. This guide sets out what each collection costs at retail, in hedged bands, what our sourced catalogue asked for representative references on 21 September 2026, where the cheapest and the most expensive Audemars Piguet watches sit, and what to check before you buy one. Bizak & Co. sources Audemars Piguet to order; the Audemars Piguet collection lists the configurations we can seek.
Last reviewed on September 21, 2026 by Filip Biczak. Prices are dated observations, not quotes.
What are the Audemars Piguet collections?
| Collection | What it is | Sizes and metals | Approximate retail band, 2025 to 2026 |
|---|---|---|---|
| Royal Oak | The 1972 Gérald Genta design: octagonal bezel, eight screws, integrated bracelet. Selfwinding, Jumbo Extra-Thin, Chronograph, openworked and calendar models | 33 to 41 mm; steel, pink, yellow and white gold, titanium, ceramic, two-tone | Mid US$20,000s for a 37 mm steel Selfwinding to around US$40,000 for the steel Jumbo; gold from the US$50,000s on strap; complications from US$100,000 upward |
| Royal Oak Offshore | The 1993 larger, sportier Royal Oak with rubber-clad crown and pushers; Selfwinding 42 mm, Chronograph 37, 43 and 44 mm, Diver 42 mm | 37 to 44 mm; steel, titanium, gold, ceramic, forged carbon | Low-to-mid US$20,000s for the Diver and 42 mm Selfwinding in steel; high US$20,000s to low US$30,000s for steel Chronographs; gold and ceramic well above |
| Code 11.59 | The 2019 round-case collection with an octagonal middle case and double-curved crystal; Selfwinding, Chronograph, and complicated models | 38 to 42 mm; steel since 2023, gold, ceramic, two-material | High US$20,000s for the steel Selfwinding; low US$40,000s in gold; Chronographs higher; tourbillons and openworked models in six figures |
| Royal Oak Concept | Avant-garde cases in titanium, ceramic and gold housing tourbillons and chronographs | 38.5 to 44 mm | From the mid US$100,000s to well above US$500,000 |
Two former collections, the Millenary with its oval case and the classical Jules Audemars line, have left the current catalogue and appear pre-owned at prices that reflect their lower demand. The Audemars Piguet watch collection page lists what is current, and Audemars Piguet services covers servicing and the extract of archives for older watches. Retail bands above are orientation, not quotes; the manufacture revises its list roughly once a year, and the current figure comes from a boutique.
What is the cheapest Audemars Piguet?
At retail, the least expensive current models are the steel Code 11.59 Selfwinding, the 34 and 37 mm steel Royal Oak Selfwinding and the Royal Oak Offshore Diver, all in the US$20,000s. Whether you can buy one at that price is another matter: steel Royal Oaks are allocated to existing clients, while the Code 11.59 and most Offshore references are usually available to a walk-in buyer within a reasonable time. On the secondary market, the entry point on 21 September 2026 was a pre-owned previous-generation Royal Oak Offshore Diver 15710ST at US$19,809, followed by the forged carbon Offshore "Bumblebee" 26176FO at US$23,765, a steel Code 11.59 Selfwinding 15210ST with a blue dial at US$24,273 and the 42 mm Offshore Selfwinding 26703ST at US$25,947. Those are the four routes into the brand below US$26,000, and only one of them is a Royal Oak proper.
How much is an Audemars Piguet Royal Oak?
On our catalogue on 21 September 2026 the steel Royal Oak Selfwinding 37 mm 15550ST asked US$45,320 to 63,601 by dial colour, the 41 mm 15510ST US$48,924 to 70,555, the 41 mm Chronograph 26240ST US$70,040 and the 39 mm Jumbo Extra-Thin 16202ST US$95,687 to 99,807, all brand new and sourced to order, against retail bands of the mid US$20,000s to around US$40,000. That is the shape of the Royal Oak market: steel references at roughly 1.6 to 2.4 times list because the boutiques do not sell them to new clients. Gold changes the picture: a pink gold 15510OR on a strap asked US$56,650, close to a steel watch on a bracelet, while the same reference on a gold bracelet asked US$105,575. The 34 mm in two-tone asked US$48,821. Our Royal Oak price guide goes through every reference; the short version is that the Jumbo and the blue-dial 41 mm carry the largest premiums and the previous-generation 15500ST and 26331ST, at US$46,350 to 56,341 and US$49,858 to 51,500, are the value route to the same design.
How much is a Royal Oak Offshore?
| Offshore model | Bizak catalogue ask, 21 Sep 2026 |
|---|---|
| Diver 42 mm 15710ST, previous generation, pre-owned | US$19,809 to 41,849 depending on dial and set |
| Selfwinding 42 mm 26703ST, steel | US$25,947 |
| Chronograph 43 mm 26420, steel and ceramic | US$39,897 black dial to US$49,440 brown dial; titanium 26420TI US$32,397; pink gold 26420RO US$50,418 |
| Chronograph 44 mm 26400SO, steel | US$53,044 to 74,399 |
| Chronograph 37 mm 26231ST, steel with diamond bezel | US$34,410 to 37,981 |
| Limited editions 15600 and 15601, 43 mm | US$56,260 titanium to US$203,424 white gold |
| Tourbillon Chronographs | US$205,999 to 279,000 |
| Grande Complication 44 mm | US$836,999 to 1,387,100 |
The Offshore is where Audemars Piguet is most affordable relative to retail. Steel Chronographs ask near or modestly above their list bands rather than double, because the manufacture makes more of them and allocates them less strictly, and the 42 mm Selfwinding and the Diver can usually be found for a first-time client. The premium is reserved for limited editions and the complicated pieces. Our Royal Oak Offshore buying guide covers the references and sizes in detail.
How much is a Code 11.59?
Code 11.59 is the collection the market discounted when it launched in 2019 and has warmed to since the steel models arrived in 2023 with smoked dials. On 21 September 2026 our catalogue asked US$24,273 to 30,694 for the steel Selfwinding 15210ST, US$29,099 to 33,480 for the steel Chronograph 26393ST, US$32,922 to 35,432 for pink gold Selfwinding models and US$39,655 to 46,221 for gold Chronographs, with a blue ceramic 15212NB at US$67,826. Against retail bands of the high US$20,000s in steel and the low US$40,000s in gold, that means steel Code 11.59 references ask roughly at list and gold references below it, which is the opposite of the Royal Oak. For a buyer who wants an Audemars Piguet movement and finishing without the allocation game, the Code 11.59 is the rational answer; for a buyer who wants the octagon on the wrist, it is not the same watch. The complicated Code 11.59 references in gold and ceramic, the tourbillons and openworked models, were listed at around US$406,000 to 411,000.
How much are the complicated and gold Audemars Piguet watches?
Above the steel and gold time-only watches, prices climb in steps. Gold Royal Oak Chronographs on bracelets asked US$118,550 to 142,398 in pink gold and US$134,929 to 203,940 in white gold on 21 September 2026; the Double Balance Wheel Openworked asked US$164,800 to 222,068 in steel and US$319,300 in black ceramic; the Royal Oak Perpetual Calendar in white gold asked US$351,230; the Royal Oak Concept models asked US$158,100 to 232,499; and diamond-set and rainbow references ran from US$208,059 to well over US$700,000. At this level the price is set by the specific reference and its production run rather than by the collection, and a written quote for the exact watch is the only figure that matters. Our Audemars Piguet price guide tracks the broader market, and the watches over US$50,000 collection shows what we can source at this level.
Why do Audemars Piguet prices vary so much between collections?
Because the manufacture allocates rather than sells its most-wanted references. Audemars Piguet produces on the order of 50,000 watches a year and has said it does not intend to chase demand with volume. Steel Royal Oaks, especially the Jumbo and blue dials, go to established clients, so the secondary market prices them at a multiple of list. The Offshore and Code 11.59 are made in larger numbers relative to demand, so they trade near list. Metal matters more than movement: a gold bracelet adds tens of thousands of dollars, while a strap version of the same gold watch can ask less than a steel one on a bracelet. And the market as a whole peaked in early 2022 and fell through 2024; since then premiums have been comparatively stable but remain far from the 2020 levels that older price guides quote.
Buying an Audemars Piguet: what to check
- Collection and reference. Know which collection you are pricing; a "Royal Oak" listing at US$25,000 is usually an Offshore, a Code 11.59 or an older 33 mm quartz model. The full reference on the warranty card resolves it.
- Warranty card and serial. The card serial should match the caseback; a late warranty date supports the ask. The manufacture's service network can confirm a watch's details, and its extract of archives documents older pieces.
- Finish. Brushed surfaces and polished bevels should meet at a sharp line on every collection; softened transitions mean polishing outside the manufacture.
- Bracelet and strap. On bracelet models count the links and check the clasp; on strap models check whether the strap and buckle are original, since replacements are costly.
- Movement. The date should change near midnight, chronographs should reset cleanly and a flyback should restart while running.
- Price against the band. A full-set steel Royal Oak offered well under the market is the single most reliable warning sign; an Offshore or Code 11.59 offered a little under list is normal.
Our authentication process describes what we inspect before dispatch, and our Royal Oak authentication guide goes deeper on the case, dial and bracelet.
Quick answers
How much is an Audemars Piguet watch?
From the mid US$20,000s at retail for a steel Code 11.59, a 37 mm Royal Oak or an Offshore Diver, to several hundred thousand dollars for Concept and grande complication models. On 21 September 2026 Bizak's sourced catalogue started at US$19,809 for a pre-owned Offshore Diver and asked US$45,320 and up for steel Royal Oaks.
What is the cheapest Audemars Piguet?
At retail, the steel Code 11.59 Selfwinding, the 34 and 37 mm steel Royal Oak and the Offshore Diver. On the secondary market in September 2026 the cheapest routes were a pre-owned Offshore Diver 15710ST, the forged carbon Offshore Bumblebee and a steel Code 11.59, all under US$26,000.
Why is the Royal Oak more expensive than the Offshore or Code 11.59?
Because steel Royal Oaks are allocated to existing clients and trade at roughly 1.6 to 2.4 times list on the secondary market, while the Offshore and Code 11.59 are made in larger numbers relative to demand and ask near their list prices.
Is an Audemars Piguet a good investment?
A steel Royal Oak bought at retail has appreciated strongly; bought at a secondary premium it follows a market that fell from its 2022 peak. Offshore and Code 11.59 models bought near list carry less downside but also less upside. Buy the watch you will wear.
Can I buy an Audemars Piguet at retail?
Code 11.59 and most Offshore references are usually available to a new client within a reasonable time. Steel Royal Oaks are allocated by purchase history, and a first-time buyer is generally asked to build a relationship first.
Request an Audemars Piguet sourcing quote
Tell us the collection, reference, size, metal and dial, 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: Royal Oak 15550ST 37 mm, Royal Oak 15510ST 41 mm, Offshore 26703ST 42 mm, Offshore Chronograph 26420SO, Code 11.59 15210ST; browse the Audemars Piguet collection, the Royal Oak collection, the Royal Oak Offshore collection, or sell or trade your Audemars Piguet.
Related reading: Audemars Piguet price guide · Royal Oak authentication and collecting guide · Patek Philippe price guide · Richard Mille price guide.
0 comments