{"listing": {"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", "available": false}, "lang": "en", "url": "https://mostexpensivewatches.net/listing/h_6856551792723", "alternatives_url": "https://mostexpensivewatches.net/api/v1/listing/h_6856551792723/alternatives", "lower_priced": [], "similar_listings": [], "cohort": {"count": 1, "median": 92000.0, "low": 92000.0, "high": 92000.0, "brands": 1, "merchants": 1, "listing_price": 92000.0, "position": "median", "delta_vs_median_pct": 0.0}, "reference": {"slug": "audemars-piguet-25654ba", "ref": "25654BA", "brand": "Audemars Piguet", "model": "Royal Oak Perpetual Calendar", "url": "https://mostexpensivewatches.net/reference/audemars-piguet-25654ba", "alternatives_url": "https://mostexpensivewatches.net/api/alternatives/audemars-piguet-25654ba"}, "cross_reference_alternatives": [{"reference": {"slug": "audemars-piguet-25659", "brand": "Audemars Piguet", "ref": "25659", "model": "Royal Oak Perpetual Calendar Gem-Set", "case_material": "18k Yellow Gold", "provenance": "extracted_from_auction_comps", "url": "https://mostexpensivewatches.net/reference/audemars-piguet-25659", "description": "The Audemars Piguet Royal Oak Perpetual Calendar reference 25659BA was produced during the late 1980s and early 1990s. This 39mm 18k yellow gold model is distinguished by its factory gem-setting, typically featuring a diamond-set bezel and hour markers. It utilizes the ultra-thin automatic caliber 2120/2800, a movement derived from the Jaeger-LeCoultre 920 base. Collectors value this reference for its \"Jumbo\" proportions and its role in the evolution of the perpetual calendar complication within the Royal Oak line. Production numbers for gem-set variants were significantly lower than the standard 25654 or 25820 references, contributing to its scarcity. On the secondary market, these pieces generally command prices in the mid-to-high six-figure range depending on provenance and condition. A notable example featuring a \"Tuscan\" texture dial and factory diamonds sold at auction for over $400,000, reflecting the premium placed on rare dial configurations."}, "score": 32, "why_compare": "Same audemars piguet collector universe; shared search intent: 18k, audemars; similar gold case profile.", "listing_stats": {"count": 0, "median": 0, "low": 0, "high": 0}, "top_listing": null, "auction_comp_count": 1, "review_url": "https://mostexpensivewatches.net/review/audemars-piguet-25659", "alternatives_url": "https://mostexpensivewatches.net/alternatives/audemars-piguet-25659"}, {"reference": {"slug": "audemars-piguet-25829or", "brand": "Audemars Piguet", "ref": "25829OR", "model": "Royal Oak Perpetual Calendar Openworked", "case_material": "18k Pink Gold", "provenance": "extracted_from_auction_comps", "url": "https://mostexpensivewatches.net/reference/audemars-piguet-25829or", "description": "The Audemars Piguet Royal Oak Perpetual Calendar Openworked reference 25829OR was produced from the late 1990s through approximately 2012. This reference is valued for its 39mm \"Jumbo\" case proportions and the caliber 2120/2802, an ultra-thin self-winding movement visible through the sapphire dial and exhibition caseback. Unlike modern iterations, the 25829OR features a hand-finished skeletonized architecture and traditional leap year indicators without a week display. The 18k pink gold construction was produced in limited quantities compared to steel or tantalum versions, contributing to its scarcity. On the secondary market, this reference typically trades in the mid-to-high six-figure range, often between $250,000 and $450,000 depending on provenance and condition. A notable auction result occurred in 2022 when a well-preserved example sold for over $600,000, reflecting the high demand for the discontinued 39mm perpetual calendar complications within the Royal Oak lineage."}, "score": 32, "why_compare": "Same audemars piguet collector universe; shared search intent: 18k, audemars; similar gold case profile.", "listing_stats": {"count": 0, "median": 0, "low": 0, "high": 0}, "top_listing": null, "auction_comp_count": 1, "review_url": "https://mostexpensivewatches.net/review/audemars-piguet-25829or", "alternatives_url": "https://mostexpensivewatches.net/alternatives/audemars-piguet-25829or"}, {"reference": {"slug": "audemars-piguet-25829tr", "brand": "Audemars Piguet", "ref": "25829TR", "model": "Royal Oak Perpetual Calendar Openworked", "case_material": "Tantalum and 18k Pink Gold", "provenance": "extracted_from_auction_comps", "url": "https://mostexpensivewatches.net/reference/audemars-piguet-25829tr", "description": "The Audemars Piguet Royal Oak Perpetual Calendar Openworked reference 25829TR was produced from the late 1990s through the mid-2010s. This reference is distinguished by its bi-metal construction, pairing a tantalum case and outer bracelet links with 18k pink gold bezels and center links. Collectors prioritize this model for its skeletonized caliber 2120/2802, an ultra-thin automatic movement visible through the sapphire dial and exhibition caseback. The use of tantalum, a dense and difficult-to-machine refractory metal, makes this variant significantly rarer than standard steel or gold iterations. Current secondary market valuations typically fall within the $250,000 to $400,000 range depending on condition and provenance. Production records suggest that fewer than 100 units of the 25829TR were manufactured, and a notable example sold at a Phillips auction in 2021 for approximately 302,000 CHF, confirming its status as a low-volume collector piece."}, "score": 32, "why_compare": "Same audemars piguet collector universe; shared search intent: 18k, audemars; similar gold case profile.", "listing_stats": {"count": 0, "median": 0, "low": 0, "high": 0}, "top_listing": null, "auction_comp_count": 1, "review_url": "https://mostexpensivewatches.net/review/audemars-piguet-25829tr", "alternatives_url": "https://mostexpensivewatches.net/alternatives/audemars-piguet-25829tr"}, {"reference": {"slug": "audemars-piguet-25636ba", "brand": "Audemars Piguet", "ref": "25636BA", "model": "Royal Oak Skeletonized Perpetual Calendar", "case_material": "18k Yellow Gold", "provenance": "extracted_from_auction_comps", "url": "https://mostexpensivewatches.net/reference/audemars-piguet-25636ba", "description": "Produced between approximately 1986 and the mid-1990s, the Audemars Piguet Royal Oak Perpetual Calendar Openworked reference 25636BA is a significant neo-vintage reference housed in a 39mm 18k yellow gold case. Collectors prioritize this model for its ultra-thin self-winding caliber 2120/2800, which lacks a leap year indicator, a characteristic of early perpetual calendar movements. The sapphire dial reveals the hand-finished skeletonized components, while the absence of a sapphire caseback on many early examples distinguishes it from later iterations. Total production for the 25636BA is estimated at 126 units, making it rarer than its non-skeletonized counterparts. On the secondary market, prices typically occupy the mid-to-high six-figure range, depending on the presence of the original box and papers. A notable auction result occurred in 2022 when a well-preserved example sold for over $400,000, reflecting the high demand for early openworked Royal Oaks."}, "score": 32, "why_compare": "Same audemars piguet collector universe; shared search intent: 18k, audemars; similar gold case profile.", "listing_stats": {"count": 1, "median": 275000.0, "low": 275000.0, "high": 275000.0, "brands": 1, "merchants": 1}, "top_listing": {"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", "available": false}, "auction_comp_count": 1, "review_url": "https://mostexpensivewatches.net/review/audemars-piguet-25636ba", "alternatives_url": "https://mostexpensivewatches.net/alternatives/audemars-piguet-25636ba"}, {"reference": {"slug": "audemars-piguet-25829ba", "brand": "Audemars Piguet", "ref": "25829BA", "model": "Royal Oak Skeletonized Perpetual Calendar", "case_material": "18k Yellow Gold", "provenance": "extracted_from_auction_comps", "url": "https://mostexpensivewatches.net/reference/audemars-piguet-25829ba", "description": "The Audemars Piguet Royal Oak Perpetual Calendar Openworked reference 25829BA was produced from approximately the mid-1990s until the early 2010s. This reference is constructed in 18k yellow gold with a 39mm case diameter and a thickness of 9.3mm, maintaining the \"Jumbo\" proportions favored by collectors. It features the ultra-thin self-winding caliber 2120/2802, which is visible through the sapphire dial and exhibition caseback. The movement is hand-finished with extensive skeletonization and engraving on the bridges and the 21k gold rotor. Collectors value this reference for its bridge between traditional finishing and the integrated bracelet design. On the secondary market, prices typically range from $250,000 to $350,000 depending on the presence of original accessories. Production was limited, with approximately 424 units estimated to have been produced in yellow gold. A notable 2023 auction result at Phillips reached approximately $241,000 for a 1997 example."}, "score": 32, "why_compare": "Same audemars piguet collector universe; shared search intent: 18k, audemars; similar gold case profile.", "listing_stats": {"count": 0, "median": 0, "low": 0, "high": 0}, "top_listing": null, "auction_comp_count": 1, "review_url": "https://mostexpensivewatches.net/review/audemars-piguet-25829ba", "alternatives_url": "https://mostexpensivewatches.net/alternatives/audemars-piguet-25829ba"}, {"reference": {"slug": "audemars-piguet-25854ti", "brand": "Audemars Piguet", "ref": "25854TI", "model": "Royal Oak Offshore Perpetual Calendar", "case_material": "Titanium", "provenance": "extracted_from_auction_comps", "url": "https://mostexpensivewatches.net/reference/audemars-piguet-25854ti", "description": "The Audemars Piguet Royal Oak Offshore Perpetual Calendar reference 25854TI was produced during the late 1990s and early 2000s. Collectors target this reference for its 42mm titanium construction, which offers a lighter alternative to the heavier steel and gold variants of the era. It is powered by the self-winding caliber 2120/2802, a movement based on the ultra-thin JLC 920 ebauche integrated with a perpetual calendar module. The dial typically features the \"Petite Tapisserie\" pattern with four sub-dials indicating day, date, month, leap year, and moon phase. Due to limited production numbers, these pieces appear infrequently on the secondary market, generally commanding prices in the $60,000 to $90,000 range depending on condition and provenance. A notable variant includes the 25854ST in stainless steel, though the titanium 25854TI remains distinct for its specific matte finish and weight profile."}, "score": 29, "why_compare": "Same audemars piguet collector universe; shared search intent: audemars, calendar.", "listing_stats": {"count": 0, "median": 0, "low": 0, "high": 0}, "top_listing": null, "auction_comp_count": 1, "review_url": "https://mostexpensivewatches.net/review/audemars-piguet-25854ti", "alternatives_url": "https://mostexpensivewatches.net/alternatives/audemars-piguet-25854ti"}]}