Audemars Piguet is one of the most respected names in Swiss watchmaking, known for its precision craftsmanship and innovative designs. While modern AP watches continue to set trends, vintage Audemars Piguet timepieces have become some of the most sought-after in the collector’s market.
This guide explores the history, most valuable vintage models, pricing trends, and key factors to consider when buying or selling a vintage Audemars Piguet watch.
A Brief History of Audemars Piguet
Founded in 1875 in Le Brassus, Switzerland, Audemars Piguet was established by watchmakers Jules Louis Audemars and Edward Auguste Piguet. Their vision was to create timepieces that combined cutting-edge horology with artistic design. The brand quickly became known for highly complicated movements, hand-finishing techniques, and unique case designs.
Milestones in Audemars Piguet’s History:
- 1892 – Introduced the first-minute repeater wristwatch.
- 1921 – Developed one of the earliest jumping hour wristwatches.
- 1934 – Created the first skeletonized pocket watch.
- 1950s–1970s – Produced elegant, ultra-thin dress watches with manual and automatic movements.
- 1972 – Launched the Royal Oak, the first luxury sports watch in steel, redefining the industry.
While the Royal Oak is the brand’s most famous model today, many earlier vintage Audemars Piguet watches remain highly collectible and valuable.
Most Valuable Vintage Audemars Piguet Models
1. Audemars Piguet Dress Watches (1920s–1950s)
Before the rise of sports watches, Audemars Piguet focused on elegant gold and platinum dress watches with thin, manual-wind movements.
- Classic AP dress watches from the 1920s–1950s, often featuring Breguet numerals or Art Deco dials, remain in demand.
- Ultra-thin watches from the 1950s featuring Caliber 2003 movements are highly collectible.
Estimated value: $5,000 – $30,000
2. Audemars Piguet Chronographs (1940s–1950s)
AP produced very few chronographs before the 1980s, making vintage examples rare and highly valuable.
- Early AP chronographs (Ref. 1533, Ref. 5518) are some of the most expensive AP vintage watches at auction.
- Triple-register chronographs from the 1950s in stainless steel or gold command high prices due to their rarity.
Estimated value: $50,000 – $250,000
3. Audemars Piguet Perpetual Calendar Watches (1950s–1970s)
Before perpetual calendars became a mainstream luxury watch complication, AP was one of the few brands producing them in limited quantities.
- Vintage perpetual calendar watches (Ref. 5516) are some of the most sought-after AP vintage timepieces.
- Some models even feature a moonphase complication, further increasing their desirability.
Estimated value: $80,000 – $300,000
4. Early Audemars Piguet Royal Oak (1972–1980s)
The Audemars Piguet Royal Oak debuted in 1972, becoming the first true luxury sports watch. Designed by Gérald Genta, it was a radical departure from traditional luxury watchmaking.
- Ref. 5402 "Jumbo" is the original Royal Oak model, and early examples are extremely valuable.
- Steel Royal Oaks from the 1970s and 1980s with original dials command top prices.
- Gold and two-tone Royal Oaks from this era are also increasing in value.
Estimated value: $40,000 – $500,000+
What Affects the Value of Vintage Audemars Piguet Watches?
Several factors determine how much a vintage AP watch is worth:
1. Rarity & Model Reference
Certain vintage AP references were produced in very limited numbers, making them far more valuable than mass-produced models.
2. Condition & Original Parts
- Watches with original dials, hands, and bezels are worth more than heavily restored or refinished ones.
- Over-polishing can reduce value by wearing down case details.
3. Movement & Complications
- Complicated vintage AP watches, such as perpetual calendars and chronographs, tend to be more valuable.
- Ultra-thin movements from the mid-20th century are also highly regarded.
4. Documentation & Provenance
- A watch with its original box, papers, and service history will command a premium.
- If the watch has a known history of ownership (e.g., once owned by a notable collector or celebrity), this can boost its value significantly.
How Much Are Vintage Audemars Piguet Watches Worth in 2025?
The value of vintage AP watches varies widely, but here are general price ranges for key models:
- Vintage AP dress watches (1920s–1950s) – $5,000 – $30,000
- Vintage chronographs (1940s–1950s) – $50,000 – $250,000
- Perpetual calendars (1950s–1970s) – $80,000 – $300,000
- Early Royal Oak models (1970s–1980s) – $40,000 – $500,000+
- Rare prototypes & unique models – Up to $1,000,000+
At auctions, exceptionally rare or historically significant pieces can exceed these price ranges.
Where to Buy or Sell a Vintage Audemars Piguet Watch
If you’re interested in buying or selling a vintage Audemars Piguet watch, consider these options:
Best Places to Buy Vintage Audemars Piguet Watches
- Auction houses (Sotheby’s, Christie’s, Phillips, SebastianCharles) – Best for rare or high-value vintage pieces.
- Luxury watch dealers (WatchBox, Chrono24, Analog/Shift) – Trusted sources for authenticated vintage AP watches.
- Private collectors & forums (Rolex Forums, TimeZone, WatchUSeek) – Great for networking with enthusiasts, but requires caution.
Best Places to Sell Vintage Audemars Piguet Watches
- Auction houses – Often the best choice for rare and valuable vintage AP watches.
- High-end watch dealers – Ideal for quick sales with fair market offers.
- Private collectors – Can offer strong prices but requires expertise to find the right buyer.
Final Thoughts on Vintage Audemars Piguet Watches
Vintage Audemars Piguet watches remain among the most collectible and valuable in the luxury watch market. Whether you’re a collector, investor, or enthusiast, understanding the history, rarity, and pricing of vintage AP watches is essential to making informed decisions.
If you own a vintage AP watch, proper care and authentication can ensure it maintains or increases in value over time. With demand for vintage luxury watches continuing to rise, these timepieces remain a strong long-term investment.
