{"query": "25654BA", "brand": null, "total": 1, "limit": 10, "matches": [{"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.", "score": 202}]}