{"reference": {"slug": "audemars-piguet-25654ba", "brand": "Audemars Piguet", "ref": "25654BA", "model": "Royal Oak Perpetual Calendar", "case_material": "18k Yellow Gold", "provenance": "extracted_from_auction_comps", "url": "https://mostexpensivewatches.net/reference/audemars-piguet-25654ba", "description": "Produced between 1982 and 1993, the Audemars Piguet Royal Oak Perpetual Calendar reference 25654BA represents an early evolution of the ultra-thin perpetual calendar complication within the Royal Oak line. Collectors prioritize this reference for its 39mm \"Jumbo\" case proportions and the caliber 2120/2800, a movement derived from a Jaeger-LeCoultre base that allowed for a case thickness of approximately 8.2mm. Unlike modern iterations, the 25654BA lacks a leap year indicator on the dial, a characteristic of early AP perpetual calendars. Approximately 422 units were manufactured in 18k yellow gold. On the secondary market, these timepieces typically trade in the $100,000 to $160,000 range depending on the presence of original paperwork and dial condition. A notable variant includes the \"Yves Klein\" electric blue smooth dial, which commands a significant premium over the standard champagne or white tapisserie versions at international auctions."}, "listing_stats": {"count": 11, "median": 140000.0, "low": 92000.0, "high": 750000.0, "brands": 1, "merchants": 4}, "listings": [{"id": "h_7739650343121", "title": "Audemars Piguet Audemars Piguet Royal Oak Perpetual Calendar 25810OR.OO.0944OR.01", "brand": "Audemars Piguet", "model": "Audemars Piguet Royal Oak Perpetual Calendar 25810OR.OO.0944OR.01", "reference": "0944OR.01", "price_usd": 300000.0, "currency": "USD", "condition": "excellent", "box_papers": "full_set", "year": null, "case_material": "18k Rose Gold", "case_size_mm": 39.0, "movement": "Automatic", "complications": ["Perpetual Calendar"], "merchant_slug": "material-good", "merchant_name": "Material Good", "image_url": "https://cdn.shopify.com/s/files/1/0561/5190/0369/files/Audemars_Piguet_Royal_Oak_Perpetual_Calendar_25810OR.OO.0944.01.jpg?v=1777670209", "detail_url": "https://mostexpensivewatches.net/listing/h_7739650343121", "buy_url": "https://mostexpensivewatches.net/out/h_7739650343121", "alt_buy_urls": [{"partner": "goldsmiths", "name": "Goldsmiths", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7739650343121/via/goldsmiths"}, {"partner": "selfridges", "name": "Selfridges", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7739650343121/via/selfridges"}, {"partner": "farfetch", "name": "Farfetch", "region": "Global", "url": "https://mostexpensivewatches.net/out/h_7739650343121/via/farfetch"}], "available": true}, {"id": "h_7761593598161", "title": "Audemars Piguet Audemars Piguet Royal Oak Perpetual Calendar 26574BC.OO.1220BC.01 \"Qatar Edition\"", "brand": "Audemars Piguet", "model": "Audemars Piguet Royal Oak Perpetual Calendar 26574BC.OO.1220BC.01 \"Qatar Edition\"", "reference": "1220BC.01", "price_usd": 258000.0, "currency": "USD", "condition": "excellent", "box_papers": "full_set", "year": null, "case_material": "18k White Gold", "case_size_mm": 41.0, "movement": "Automatic", "complications": ["Perpetual Calendar"], "merchant_slug": "material-good", "merchant_name": "Material Good", "image_url": "https://cdn.shopify.com/s/files/1/0561/5190/0369/files/Audemars_Piguet_Royal_Oak_Perpetual_Calendar_26574BC.OO.1220BC.01_Qatar_Edition__1.jpg?v=1781902330", "detail_url": "https://mostexpensivewatches.net/listing/h_7761593598161", "buy_url": "https://mostexpensivewatches.net/out/h_7761593598161", "alt_buy_urls": [{"partner": "goldsmiths", "name": "Goldsmiths", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7761593598161/via/goldsmiths"}, {"partner": "selfridges", "name": "Selfridges", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7761593598161/via/selfridges"}, {"partner": "farfetch", "name": "Farfetch", "region": "Global", "url": "https://mostexpensivewatches.net/out/h_7761593598161/via/farfetch"}], "available": true}, {"id": "h_7771558543569", "title": "Audemars Piguet Audemars Piguet Royal Oak Perpetual Calendar 25820ST.OO.0944ST.05", "brand": "Audemars Piguet", "model": "Audemars Piguet Royal Oak Perpetual Calendar 25820ST.OO.0944ST.05", "reference": "0944ST.05", "price_usd": 145000.0, "currency": "USD", "condition": "excellent", "box_papers": "full_set", "year": null, "case_material": "Stainless Steel", "case_size_mm": 39.0, "movement": "Automatic", "complications": ["Perpetual Calendar"], "merchant_slug": "material-good", "merchant_name": "Material Good", "image_url": "https://cdn.shopify.com/s/files/1/0561/5190/0369/files/1_Audemars_Piguet_Royal_Oak_Perpetual_Calendar_25820ST.OO.0944ST.05.jpg?v=1784316474", "detail_url": "https://mostexpensivewatches.net/listing/h_7771558543569", "buy_url": "https://mostexpensivewatches.net/out/h_7771558543569", "alt_buy_urls": [{"partner": "goldsmiths", "name": "Goldsmiths", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7771558543569/via/goldsmiths"}, {"partner": "selfridges", "name": "Selfridges", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7771558543569/via/selfridges"}, {"partner": "farfetch", "name": "Farfetch", "region": "Global", "url": "https://mostexpensivewatches.net/out/h_7771558543569/via/farfetch"}], "available": true}, {"id": "h_7405096960209", "title": "Audemars Piguet Audemars Piguet Royal Oak Perpetual Calendar 26574TI.OO.1220TI.01", "brand": "Audemars Piguet", "model": "Audemars Piguet Royal Oak Perpetual Calendar 26574TI.OO.1220TI.01", "reference": "1220TI.01", "price_usd": 139000.0, "currency": "USD", "condition": "excellent", "box_papers": "full_set", "year": null, "case_material": "Grade 5 Titanium", "case_size_mm": 41.0, "movement": "Automatic", "complications": ["Perpetual Calendar"], "merchant_slug": "material-good", "merchant_name": "Material Good", "image_url": "https://cdn.shopify.com/s/files/1/0561/5190/0369/files/1_Audemars_Piguet_Royal_Oak_Perpetual_Calendar_26574TI.OO.1220TI.01.jpg?v=1789748188", "detail_url": "https://mostexpensivewatches.net/listing/h_7405096960209", "buy_url": "https://mostexpensivewatches.net/out/h_7405096960209", "alt_buy_urls": [{"partner": "goldsmiths", "name": "Goldsmiths", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7405096960209/via/goldsmiths"}, {"partner": "selfridges", "name": "Selfridges", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7405096960209/via/selfridges"}, {"partner": "farfetch", "name": "Farfetch", "region": "Global", "url": "https://mostexpensivewatches.net/out/h_7405096960209/via/farfetch"}], "available": true}, {"id": "h_7789467435217", "title": "Audemars Piguet Audemars Piguet Royal Oak Perpetual Calendar 26574ST.OO.1220ST.03", "brand": "Audemars Piguet", "model": "Audemars Piguet Royal Oak Perpetual Calendar 26574ST.OO.1220ST.03", "reference": "1220ST.03", "price_usd": 132500.0, "currency": "USD", "condition": "excellent", "box_papers": "full_set", "year": null, "case_material": "Stainless Steel", "case_size_mm": 41.0, "movement": "Automatic", "complications": ["Perpetual Calendar"], "merchant_slug": "material-good", "merchant_name": "Material Good", "image_url": "https://cdn.shopify.com/s/files/1/0561/5190/0369/files/1_Audemars_Piguet_Royal_Oak_Perpetual_Calendar_26574ST.OO.1220ST.03.jpg?v=1786732519", "detail_url": "https://mostexpensivewatches.net/listing/h_7789467435217", "buy_url": "https://mostexpensivewatches.net/out/h_7789467435217", "alt_buy_urls": [{"partner": "goldsmiths", "name": "Goldsmiths", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7789467435217/via/goldsmiths"}, {"partner": "selfridges", "name": "Selfridges", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7789467435217/via/selfridges"}, {"partner": "farfetch", "name": "Farfetch", "region": "Global", "url": "https://mostexpensivewatches.net/out/h_7789467435217/via/farfetch"}], "available": true}, {"id": "h_6965700034769", "title": "Audemars Piguet Audemars Piguet Royal Oak Perpetual Calendar 25654BA.OO.0944BA.01", "brand": "Audemars Piguet", "model": "Audemars Piguet Royal Oak Perpetual Calendar 25654BA.OO.0944BA.01", "reference": "0944BA.01", "price_usd": 125000.0, "currency": "USD", "condition": "excellent", "box_papers": "full_set", "year": null, "case_material": "18k Yellow Gold", "case_size_mm": 39.0, "movement": "Automatic", "complications": ["Perpetual Calendar"], "merchant_slug": "material-good", "merchant_name": "Material Good", "image_url": "https://cdn.shopify.com/s/files/1/0561/5190/0369/files/Audemars_Piguet_Royal_Oak_Perpetual_Calendar_25654BA.OO.0944BA.01.jpg?v=1775854127", "detail_url": "https://mostexpensivewatches.net/listing/h_6965700034769", "buy_url": "https://mostexpensivewatches.net/out/h_6965700034769", "alt_buy_urls": [{"partner": "goldsmiths", "name": "Goldsmiths", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_6965700034769/via/goldsmiths"}, {"partner": "selfridges", "name": "Selfridges", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_6965700034769/via/selfridges"}, {"partner": "farfetch", "name": "Farfetch", "region": "Global", "url": "https://mostexpensivewatches.net/out/h_6965700034769/via/farfetch"}], "available": true}, {"id": "h_7776413384913", "title": "Audemars Piguet Audemars Piguet Royal Oak Perpetual Calendar 25686BA.OO.0944BA.03", "brand": "Audemars Piguet", "model": "Audemars Piguet Royal Oak Perpetual Calendar 25686BA.OO.0944BA.03", "reference": "0944BA.03", "price_usd": 125000.0, "currency": "USD", "condition": "excellent", "box_papers": "full_set", "year": null, "case_material": "18k Yellow Gold", "case_size_mm": 39.0, "movement": "Automatic", "complications": ["Perpetual Calendar"], "merchant_slug": "material-good", "merchant_name": "Material Good", "image_url": "https://cdn.shopify.com/s/files/1/0561/5190/0369/files/1_Audemars_Piguet_Royal_Oak_Perpetual_Calendar_25686BA.OO.0944BA.03.jpg?v=1785531860", "detail_url": "https://mostexpensivewatches.net/listing/h_7776413384913", "buy_url": "https://mostexpensivewatches.net/out/h_7776413384913", "alt_buy_urls": [{"partner": "goldsmiths", "name": "Goldsmiths", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7776413384913/via/goldsmiths"}, {"partner": "selfridges", "name": "Selfridges", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7776413384913/via/selfridges"}, {"partner": "farfetch", "name": "Farfetch", "region": "Global", "url": "https://mostexpensivewatches.net/out/h_7776413384913/via/farfetch"}], "available": true}, {"id": "h_7768715264087", "title": "Audemars Piguet Audemars Piguet Royal Oak Perpetual Calendar 'Cactus Jack'", "brand": "Audemars Piguet", "model": "Audemars Piguet Royal Oak Perpetual Calendar 'Cactus Jack'", "reference": "40993511", "price_usd": 750000.0, "currency": "USD", "condition": "excellent", "box_papers": "full_set", "year": null, "case_material": "18k White Gold", "case_size_mm": 40.0, "movement": "Automatic", "complications": ["Perpetual Calendar"], "merchant_slug": "analog-shift", "merchant_name": "Analog/Shift", "image_url": "https://cdn.shopify.com/s/files/1/0809/1255/files/AS12772_40993511_AUDEMARSPIGUET_ROYALOAKPERPETUALCALENDAROPENWORKED_26585CM.OO.D301VE.01-5.jpg?v=1789408320", "detail_url": "https://mostexpensivewatches.net/listing/h_7768715264087", "buy_url": "https://mostexpensivewatches.net/out/h_7768715264087", "alt_buy_urls": [{"partner": "goldsmiths", "name": "Goldsmiths", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7768715264087/via/goldsmiths"}, {"partner": "selfridges", "name": "Selfridges", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7768715264087/via/selfridges"}, {"partner": "farfetch", "name": "Farfetch", "region": "Global", "url": "https://mostexpensivewatches.net/out/h_7768715264087/via/farfetch"}], "available": false}, {"id": "h_7404479185005", "title": "Audemars Piguet 1992 Audemars Piguet Royal Oak Quantième Perpetual Calendar 18K YG (Ref. 25636BA) Openwork \"Small Font\" Dial W/ Box, Winder, AP COA, AP Extract, AP Service Papers, & Accessories", "brand": "Audemars Piguet", "model": "1992 Audemars Piguet Royal Oak Quantième Perpetual Calendar 18K YG (Ref. 25636BA) Openwork \"Small Font\" Dial W/ Box, Winder, AP COA, AP Extract, AP Service Papers, & Accessories", "reference": "25636BA", "price_usd": 275000.0, "currency": "USD", "condition": "excellent", "box_papers": "full_set", "year": null, "case_material": "Stainless Steel", "case_size_mm": 40.0, "movement": "Automatic", "complications": ["Perpetual Calendar"], "merchant_slug": "craft-and-tailored", "merchant_name": "Craft + Tailored", "image_url": "https://cdn.shopify.com/s/files/1/1104/9180/files/Img027679copy.jpg?v=1716510327", "detail_url": "https://mostexpensivewatches.net/listing/h_7404479185005", "buy_url": "https://mostexpensivewatches.net/out/h_7404479185005", "alt_buy_urls": [{"partner": "goldsmiths", "name": "Goldsmiths", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7404479185005/via/goldsmiths"}, {"partner": "selfridges", "name": "Selfridges", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_7404479185005/via/selfridges"}, {"partner": "farfetch", "name": "Farfetch", "region": "Global", "url": "https://mostexpensivewatches.net/out/h_7404479185005/via/farfetch"}], "available": false}, {"id": "h_6968141906003", "title": "Audemars Piguet Royal Oak Perpetual Calendar Ultra-Thin | 26586IP | Titanium & Platinum", "brand": "Audemars Piguet", "model": "Royal Oak Perpetual Calendar Ultra-Thin | 26586IP | Titanium & Platinum", "reference": "26586IP", "price_usd": 140000.0, "currency": "USD", "condition": "excellent", "box_papers": "full_set", "year": null, "case_material": "Platinum", "case_size_mm": 40.0, "movement": "Automatic", "complications": ["Perpetual Calendar"], "merchant_slug": "a-collected-man", "merchant_name": "A Collected Man", "image_url": "https://cdn.shopify.com/s/files/1/0606/5325/products/Audemars_Piguet_Royal_Oak_Perpetual_Calendar_Ultra-Thin_RD-2_26586IP_OO_1240IP_01_titanium_platinum_A_Collected_Man_London_00.jpg?v=1681389703", "detail_url": "https://mostexpensivewatches.net/listing/h_6968141906003", "buy_url": "https://mostexpensivewatches.net/out/h_6968141906003", "alt_buy_urls": [{"partner": "goldsmiths", "name": "Goldsmiths", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_6968141906003/via/goldsmiths"}, {"partner": "selfridges", "name": "Selfridges", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_6968141906003/via/selfridges"}, {"partner": "farfetch", "name": "Farfetch", "region": "Global", "url": "https://mostexpensivewatches.net/out/h_6968141906003/via/farfetch"}], "available": false}, {"id": "h_6856551792723", "title": "Audemars Piguet Royal Oak | Ref. 25654BA | Quantieme Perpetual | Yellow Gold", "brand": "Audemars Piguet", "model": "Royal Oak | Ref. 25654BA | Quantieme Perpetual | Yellow Gold", "reference": "25654BA", "price_usd": 92000.0, "currency": "USD", "condition": "excellent", "box_papers": "full_set", "year": null, "case_material": "18k Yellow Gold", "case_size_mm": 40.0, "movement": "Automatic", "complications": ["Perpetual Calendar"], "merchant_slug": "a-collected-man", "merchant_name": "A Collected Man", "image_url": "https://cdn.shopify.com/s/files/1/0606/5325/products/Audemars_Piguet_Royal_Oak_Ref_25654BA_Quantieme_Perpetual_Yellow_Gold_A_Collected_Man_London_CMCYG_A1597_09.jpg?v=1662545460", "detail_url": "https://mostexpensivewatches.net/listing/h_6856551792723", "buy_url": "https://mostexpensivewatches.net/out/h_6856551792723", "alt_buy_urls": [{"partner": "goldsmiths", "name": "Goldsmiths", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_6856551792723/via/goldsmiths"}, {"partner": "selfridges", "name": "Selfridges", "region": "UK", "url": "https://mostexpensivewatches.net/out/h_6856551792723/via/selfridges"}, {"partner": "farfetch", "name": "Farfetch", "region": "Global", "url": "https://mostexpensivewatches.net/out/h_6856551792723/via/farfetch"}], "available": false}], "auction_lots": [{"slug": "audemars-piguet-25654ba-2022", "brand": "Audemars Piguet", "reference": "25654BA", "model": "Royal Oak Perpetual Calendar", "case_material": "18k Yellow Gold", "hammer_usd": 145530, "year_sold": 2022, "venue": "Christie's Geneva", "lot_summary": "A classic 18k yellow gold perpetual calendar with a white dial, representing the traditional luxury aesthetic of the Royal Oak complication line.", "source_url": "https://www.christies.com/en/lot/lot-6371807", "provenance": "ai_generated_grounded", "url": "https://mostexpensivewatches.net/auctions/audemars-piguet-25654ba-2022"}]}