Audemars Piguet is one of the rare great manufactures still owned by its founding families. Founded in 1875 in Le Brassus, it deliberately produces approximately 51,000 watches per year, sustaining a scarcity that makes the Royal Oak (its iconic model since 1972) one of the most coveted and most liquid watches on the global secondary market. In 2026, a Royal Oak in steel starts at approximately CHF 25,000 on the pre-owned market, but the most sought-after references (Jumbo 15202, skeleton perpetual calendar) reach CHF 100,000 and above. With multi-year boutique waiting lists for flagship models, the pre-owned market is often the only immediate access route : provided you know how to buy safely.