25686, Royal Oak Perpetual Calendar, sapphire caseback

With the exception of the clasp and the hexagonal screws on the bezel, which are made of white gold, the case of this variant is made of platinum. This material, which is three times denser and half as hard as steel, was particularly popular during the Art Deco period. It almost entirely disappeared from Audemars Piguet men's watch collections after World War II.

It was not until 1986 that this material made its appearance in the Royal Oak collection. The discretion of its appearance was matched only by its exclusivity. In 1986, the first and only platinum Royal Oak of the year was delivered to Germany. It was to remain the only example of Model 25554 in this material. The following year, only two Royal Oak watches in platinum were marketed, one in the 14470PT variant, the other as 25636PT, followed in 1988 by the first 25654PT watch.

But when the Royal Oak Perpetual Calendar 25686 made its first appearance on 13 July 1989, it was in platinum. The next 30 models were delivered between 1991 and 1997. The model appeared in the Audemars Piguet Catalogue in 1993, with a blue mother-of-pearl dial.

Sales from 1989 to 1997: a total of 31 units, of which 1 (1989), 10 (1991), 10 (1992), 1 (1993), 4 (1994), 4 (1995) and 1 (1997).

The first 25686BA example in yellow gold was sold in November 1989. It would take another seven years to manufacture and distribute the next 69 or so pieces.

The Technical Data presents a watch with a “doré, opalin” (yellow gold-toned, opaline) Stern dial, "beige" subdials highlighted with “rail noir” (black railtrack). This dial is exactly the same as the ones in the Royal Oak 25654BA (1986) and 25554BA (1984) Technical Data. It has also been used in other collections of round watches (e.g. 25550BA) or differently shaped watches (e.g. 25557BA).

The first 25686BA models were each fitted with an 18-carat yellow gold Bracelet no. 344 produced by Gay Frères (see article dedicated to Royal Oak bracelets), identical to the bracelets fitted to the Royal Oak 5402BA since 1977. The last models are fitted with a Bracelet 944 produced by Werthanor and equipped with a second-generation clasp.

Sales from 1989 to 1996: a total of 70 units, of which 1 (1989), 17 (1990), 17 (1991), 10 (1992), 12 (1993), 3 (1994) and 10 (1996).

In 1972, the first Royal Oak, Model 5402, made headlines because of its price tag. Valued at CHF 3,300 at the time of its launch, it was the most expensive steel watch in the world. Two decades later, Model 25686ST continued this tradition. The case remained in steel, but the addition of an extra-thin selfwinding perpetual calendar movement significantly increased its value, so that in 1993 the watch was offered at CHF 35,500.

This variant goes back to the roots of the Royal Oak as it is the first variant with a perpetual calendar to feature a T21 Tapisserie dial, as well as openworked hands and hour-markers coated with tritium (a luminescent material). The Technical Data indicates that this variant is graced with a dark blue dial, adorned with nine applied hour-markers and punctuated by three white gold beads.

Sales from 1990 to 1997: a total of 92 units, of which 3 (1990), 5 (1991), 9 (1993), 7 (1994), 15 (1995), 46 (1996) and 7 (1997).

The initials "RP" are a contraction of "OR" (pink gold) and PT (platinum). In this variant, the bezel and studs are made of platinum, while the case middle and links are made of 18-carat pink gold.

The Technical Data for Model 25686RP indicates that the dial is in pink mother-of-pearl. The expert appraisal of no. 03 of this model, exhibited since 2020 in the Musée Atelier Audemars Piguet, showed that the pink colour was obtained by colouring the back of the dial in red. The counters being slightly thinner than the rest of the dial, they are more translucent and their colour more intense.

The hour-markers are replaced by brilliant-cut diamonds set in small white gold sockets secured to the mother-of-pearl.

Sales from 1991 to 1998: a total of 37 units, of which 1 (1991), 3 (1993), 26 (1994), 3 (1995), 3 (1996) and 1 (1998).

The 18 pink gold 25686OR watches were all delivered between 1993 and 1996. Visible from the back of the watch, the movement's plate is gilded in pink gold to match the colour of the case and the pink gold oscillating weight. The latter, like the other variations of this model, is finely openworked and engraved with the AP monogram, standing for Audemars Piguet. On request, these initials could be replaced by motifs personalised for customers: other initials, emblems or any other element that could be realised on this scale.

The variant illustrated in the Technical Data has a creamy white painted Tapisserie dial. The same source mentions the existence of another variant with a pink mother-of-pearl dial.

Sales from 1993 to 1996: a total of 18 units, of which 9 (1993), 6 (1994), 1 (1995) and 2 (1996).

The "SP" variant, a contraction of ST (steel) and PT (platinum), first appeared in the Royal Oak collection in 1994. It is found simultaneously in Model 25636 model and its openworked variant 25686. Later, Model 25820 and its openworked version Model 25829 were to adopt this same combination. To emphasise the difference in materials, the platinum bezel and studs are mirror-polished, while the steel case middle and links are delicately satin-brushed.

The Technical Data indicates that the dial colour is "Tuscany blue". The term "Tuscany” or “Tuscan” blue which evokes the colour of the sea in Tuscany, has no precise definition, but is found in several fields such as ceramics, leather goods and botany. At Audemars Piguet, the name "Tuscany blue" dial is originally associated not only with a colour, but also with a type of manual engraving known as chasing.

To achieve this decoration, the engraver digs and pushes the material using several tools, in particular scorpers and matt chisels. The difficulty lies in finding the right balance between a very irregular, even chaotic relief and a homogeneous whole that plays with the light.

The oldest Audemars Piguet "Tuscany blue" dials were made for the 5561PT (from 1981) and 5568 (from 1982) round perpetual calendar watches, as well as for Model 4285 (from 1982). After equipping the Royal Oak 25654PT (at least from 1991) and 25686SP (1994), this type of finely chased dial can notably be found on the platinum variant of the Royal Oak Jubilee 14802 (1995), as well as on a one-of-a-kind pocket watch 12501PT from the year 2000. The "Tuscany blue" colour is then used on certain non-chased dials, in particular on Jules Audemars Model 26000PT (2008) and Model 26353PT (2009).

Sales from 1994 to 1996: a total of 26 units, of which 20 (1994), 1 (1995) and 5 (1996).

This variant combines the same materials as the RP model (see above), but in reverse: the bezel and studs are in pink gold while the case middle and links are in platinum. The clasp is in white gold because platinum would have been too soft for such a component.

The Technical Data features illustrations of two metal dial variants, one of which is two-tone (opaline rhodium and black) and the other white with Roman numerals. It is probable that other dials were fitted to this model, but the archives do not enable confirmation of this.

Sales in 1997: a total of 25 units.