How Much Is an Audemars Piguet? Entry to Top by Collection

An Audemars Piguet starts in the low five figures for the least expensive current references and runs to seven figures for precious-metal, complicated or limited pieces, with the bulk of the collection sitting in the mid five figures to low six figures. The spread reflects AP's four main lines, Royal Oak, Royal Oak Offshore, Code 11.59 and the historical Jules Audemars and Millenary families, plus case material and complication on top. This guide walks the price ladder from entry to top by collection, using Audemars Piguet's own collection pages and Bizak's sourced catalogue, dated below. The Audemars Piguet collection lists the configurations Bizak can source.

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

How much is an Audemars Piguet, by collection?

Source: Audemars Piguet, watch collection. Bands describe where Bizak has seen asks cluster across steel, gold and platinum variants; AP does not publish one global list price and figures vary by market.

What is the cheapest Audemars Piguet you can buy new?

The entry point to the current AP catalogue is generally a steel or two-tone Code 11.59 self-winding three-hand model, sitting in the low five figures, closely followed by the steel Royal Oak Offshore Diver at a similar level. Both use AP's automatic movement architecture without a complication, and both are 38 to 42 mm cases in the least expensive available material. There is no current AP reference priced meaningfully below these two lines; the brand does not compete in the sub-five-figure segment the way some Swiss houses do with their smallest steel three-hand models.

Bizak's sourced catalogue: entry-to-top Audemars Piguet asks

• Code 11.59, entry configuration. On 26 September 2026 our sourced catalogue listed a rose gold and ceramic 26393NR.OO.A002KB.02 at US$42,126 brand new, sourced to order.
• Royal Oak Selfwinding, steel. The same catalogue listed a 15500ST.OO.1220ST.03 steel Selfwinding at US$46,350 brand new, sourced to order.
• Royal Oak Chronograph, steel. A 26331ST.OO.1220ST.01 blue-dial chronograph was listed at US$51,500 brand new, sourced to order.
• Royal Oak Perpetual Calendar, white gold. A 26574BC.OO.1220BC.02 white gold perpetual calendar was listed at US$351,230 brand new, sourced to order, illustrating the jump a complication in precious metal represents over a steel three-hand watch.

Those figures describe what we saw on the date given and will move with each new intake. Ask for a dated quote for the exact reference, material and set.

Code 11.59 versus Royal Oak: which is the better entry point?

Code 11.59 is the newer, more architecturally complex case and the easier way into AP ownership on strap rather than bracelet. The Royal Oak carries the brand's signature design and, on steel references, the stronger secondary demand; buyers choosing purely on entry cost should compare specific references rather than assume one line is always cheaper, since strap options and dial variants shift the price within each line.

Why do Royal Oak references cost more than Code 11.59 at a similar level?

An integrated bracelet in steel or precious metal costs more to manufacture and finish than a strap, and the octagonal Royal Oak case requires more hand-finishing steps on its facets and hobnail-pattern dial than the Code 11.59's round bezel. Both use comparable in-house automatic movements at the equivalent complication level, so the price gap between the two lines at the same tier is driven mostly by case and bracelet construction rather than the movement inside.

How much does a complication add to the price?

• Chronograph. Adding a chronograph to a Royal Oak or Offshore typically adds tens of thousands of dollars over the equivalent three-hand watch in the same material.
• Perpetual calendar. A perpetual calendar is a larger step again, commonly doubling or more the price of a three-hand watch in the same case material.
• Tourbillon or grand complication. Concept and grand-complication references sit at the top of the collection, generally in the mid six figures and up regardless of case material.
• Gem-setting. A factory diamond bezel or dial adds a substantial premium on top of whatever the base reference costs, scaling with stone quality and coverage.

Does case material change the price as much as the model line?

Material moves price nearly as much as the complication does. Moving from steel to rose or yellow gold on the same reference typically multiplies the price several times over; platinum and white gold sit higher again. Titanium and forged carbon, used on some Offshore and Concept references, price closer to steel than to precious metal despite their technical construction, since AP treats them as tool materials rather than luxury metals for pricing purposes.

Where do pre-owned Audemars Piguet prices sit relative to new?

Pre-owned steel Royal Oak and Royal Oak Offshore references have generally traded at or above their original retail in recent years, reflecting sustained demand against limited annual production. Pre-owned Code 11.59 and precious-metal Royal Oak references, by contrast, more often sit below their original retail, since demand for these configurations is thinner on the secondary market. Complicated and limited-edition references vary the most, with rarity and condition mattering more than the general pattern for either line.

Boutique waitlist or secondary market: which route for entry references?

Steel Royal Oak and Royal Oak Offshore Diver references at authorised dealers and AP boutiques commonly carry a waitlist, since annual production is deliberately limited relative to demand for these two lines. Code 11.59 references, particularly in precious metal, are generally easier to obtain at retail without a long wait, reflecting thinner demand at that end of the catalogue. Buyers who want a specific steel Royal Oak quickly often turn to the secondary market and pay a premium for immediate delivery rather than wait an unspecified period for a boutique allocation; buyers flexible on dial or reference, or interested in Code 11.59, more often can buy new at retail within a shorter window.

Buying an Audemars Piguet: what to check before you commit

• Reference number. Confirm the full reference, including suffix, against the dial and case back; suffixes distinguish dial colour and material and are easy to misstate when comparing listings.
• Warranty card and serial. The engraved case serial should match any accompanying card; AP does not reissue cards for lost paperwork.
• Bracelet or strap condition. On a Royal Oak, check for bracelet stretch; on a Code 11.59, check strap wear and whether spare straps are included.
• Case finishing. Sharp facets and crisp brushing indicate an unpolished case; rounded edges mean prior servicing.
• Service history. Ask for the last service date and receipt; budget for a service if there is none on file. AP's service information page outlines what a factory service covers and typical intervals.
• Price against the band. A reference offered well under the ranges above for its collection, material and complication is the single most reliable warning sign.

Our authentication process describes what we inspect before dispatch, and our Royal Oak authentication and collecting guide goes deeper on case and dial checks.

Quick answers

How much does an Audemars Piguet cost?

Current references start in the low five figures for a steel Code 11.59 or Royal Oak Offshore Diver and run to seven figures for precious-metal, complicated or limited pieces. Bizak's sourced catalogue listed a Code 11.59 at US$42,126 and a steel Royal Oak Selfwinding at US$46,350 brand new on 26 September 2026, sourced to order.

What is the cheapest Audemars Piguet model?

A steel or two-tone Code 11.59 self-winding three-hand model or a steel Royal Oak Offshore Diver generally sit at the bottom of the current catalogue, both in the low five figures.

Is the Royal Oak more expensive than the Code 11.59?

Generally yes at the equivalent complication and material tier, mainly because of the integrated bracelet and the more elaborate case finishing the octagonal design requires.

Do Audemars Piguet prices rise every year?

AP revises retail periodically rather than on a fixed annual schedule, and recent revisions have applied broadly across the collection; secondary-market prices move separately from retail.

Which Audemars Piguet holds its value best?

Steel Royal Oak and Royal Oak Offshore references have generally held or exceeded retail on the secondary market in recent years more consistently than precious-metal or Code 11.59 references.

Request an Audemars Piguet sourcing quote

Tell us the collection, reference, case material and set you want, plus your budget and timing, through our sourcing enquiry form. We confirm the specific watch, photographs, papers and final price before you commit. Browse the Audemars Piguet collection, the Royal Oak 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.