Audemars Piguet Royal Oak Perpetual Calendar Openworked

About this reference

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.