In 2021, the purchase price of Audemars Piguet Royal Oak series will be adjusted and the production of 15400ST will be discontinued. How will it affect the market? | JEWEL CAFÉ Malaysia

Date Updated: May 29, 2023

In 2021, the purchase price of Audemars Piguet Royal Oak series will be adjusted and the production of 15400ST will be discontinued. How will it affect the market? | JEWEL CAFÉ Malaysia


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Audemars Piguet, like Rolex and Patek Philippe, is a well-known brand that many industry participants want to purchase. The shop has also launched special sales in previous years for the Royal Oak 15300ST, 15400ST, and the new 15500ST in 2019, giving long-term high-priced acquisition services. I predicted that the Royal Oak series would be the seller’s market domination, but the real market trend will be chaotic until 2020. Coupled with Audemars Piguet’s continuance of last year’s rise strategy and this year’s intention to raise prices again, the market for Audemars Piguet has seen significant changes as a result of the dual impact of production suspension and price increases. How will the 15400ST and 15500ST acquisition markets evolve in the future? Should I sell right away or wait? And where will the actual market fall in the future with the 15500ST series that has progressively begun to circulate!? The following will use 15400ST and 15500ST as the major axes to examine Audemars Piguet’s acquisition market in 2021!

※Taking the Royal Oak series stainless steel model as the analysis object.

※The information stated in the article is as of January 2021.

※Due to changes in the market, the high purchase price of the Royal Oak model cannot be guaranteed. Price analysis is for reference only.

Comparison of Audemars Piguet Royal Oak 15400ST and 15500ST

Everyone knows that Audemars Piguet’s flagship model, the Royal Oak series, is a timeless masterpiece that has set a paradigm of premium sports watches. It does not appear to be the slender design of a sports watch at first glance. The balance of movement and beauty is stunning. The black, blue, and silver dials of the stainless steel 15400ST launched in 2012 are in high demand in the acquisition market, whether new or used. Despite being current models, they are still available through authorized dealers. A watch is difficult to come by. As a result, many boutique watch retailers carefully ensure enough inventory, resulting in premium purchasing costs. The 15400ST has long been the Royal Oak series’ hallmark, but during the SIHH2019 watch display, the successor 15500ST quietly emerged. Despite being a successor model, the 15400ST has not been discontinued. The new and old models will continue to coexist in 2019. Nobody knew how long this parallel would endure, but in the beginning of 2020, the 15400ST abruptly vanished from Audemars Piguet’s catalog, indicating that it had been officially retired.

Audemars Piguet Royal Oak 15400ST

Case size: diameter 41mm x thickness 9.8mm

Material: Stainless steel

Dial: black, blue, silver (gray was introduced in 2017)

Movement: Audemars Piguet Caliber 3120 automatic movement, 21,600 revolutions per hour

Power reserve: about 60 hours

Waterproof function: 50 meters

Comparison of 15400ST and 15500ST

At first sight, there is no discernible difference between 15400ST and 15500ST. The case size increased from 15300T to 15400ST (39mm41mm), giving the two their respective champions. This time, the successor model retains the previous dimensions while employing a new movement. The three-hand Royal Oak from the 15300ST is no longer powered by the Cal.3120, but by the new self-winding caliber Cal.4302. This is a movement created for Audemars Piguet’s new CODE11.59 series, the year’s most popular theme. Not only is the vibration frequency raised, but the power reserve is also increased by approximately 10 hours, the components are enlarged, and the size of the movement is increased, which increases the thickness of the casing by about 0.6 mm. As previously said, the new and old versions appear identical at first sight, however the design has altered somewhat. The date window on the dial is now closer to the edge, and the hour markers and hands are wider as well. It’s also worth noting that the new movement makes the 15500ST thicker. It’s just 0.6 mm longer. It is not an exaggeration to state that it is a mistake. However, you will notice a change when you wear it. This feature’s user evaluation is sure to be mixed. Pricing has also risen as a result of the new movement’s utilization. The price of 15500ST is significantly greater than that of 15400ST (the price of 15500ST will rise by about 7% in 2020, and then by approximately 7% in 2021). The new Audemars Piguet Royal Oak series is seen above, with the key change from the previous model. The most costly dial is blue, followed by black, then silver (the current model has black and gray for the same price). Furthermore, the buying price of each of the above models is significantly greater than it was a year ago. When you compare the prices of new and old models, you will see that the new ones are more expensive. It is sometimes stated that “the market for discontinued models will rise” for well-known watches such as Rolex, however this is an extremely unusual occurrence, with the majority of demand being for newer models with improved performance. Will the price of the discontinued 15400ST never rise again? Not necessarily; the price of 15400ST has risen this year, surpassing 15500ST, and the acquisition market has even broken the head. This is possible for a variety of reasons. The first is the drop in circulation induced by the end of 15400ST. Although not as high as Rolex watches, Audemars Piguet’s super-popular high-end brand watches will become increasingly uncommon after manufacture is halted (now also Very rare), so the market has the potential to soar in one breath. The still high demand has also enhanced the rare value of this famous watch.

Based on this information, should we sell or hold off in 2020 and 2021? Then, in 2021, let us examine and forecast the trend of the 15400ST and 15500ST acquisition markets.

※In 2020, a new 15500ST silver dial Ref.15500ST.OO.1220ST.04 will be launched. Currently there is no widespread circulation in the market.

2021 Audemars Piguet Royal Oak series acquisition market trend

Acquisition market trends in 2021 ① Both 15400ST and 15500ST will rise sharply

We examined Audemars Piguet’s acquisition market when the 15500ST was debuted just two years ago. At the time, it was stated that “the new 15500ST will threaten the market of 15400ST.” The cause is likewise stated in the preceding article. Because the look of the new and old models is not significantly different, demand will be relatively inclined to the new models under parallel sales, which may lead the 15400ST to collapse. In the past, well-known models have undergone small adjustments, and if there is no visible change in look, the market will typically not move much. For example, when the Rolex Sea-dweller deepsea series produced the new work 126660, the previous model did not have a large premium because the design remained essentially unchanged. And the movement is where the Audemars Piguet 15500ST differs the most. If new models with superior performance continue to gain popularity, demand may migrate away from the 15400ST and toward new models. In reality, despite the fact that it has been about two years since its publication, the 15500ST gain remains unnoticed. The 15400ST, on the other hand, has reached an exceptionally high price and continues to establish new marks. There have been some ups and downs, but the price of 15400ST has been growing since roughly May 2019, indicating an upward trend. Prices have been high, particularly after the year 2020. By the way, while 15400ST and 15500ST are still on sale concurrently in 2019, 15400ST has already showed an increasing trend, demonstrating how incredible the gain is. In other words, demand did not move unilaterally to 15400ST or 15500ST, but the market continued to climb as a result of high demand.

Acquisition market trend in 2021 ②the circulation of 15400ST will gradually decrease due to the suspension of production

Since 2012, the 15400ST has been in production. The entire output volume is not insignificant. However, it can be regarded as market extinction. Because this nearly extinct watch is nearly extinct, supply cannot keep up with demand, therefore it has been produced. Today’s exorbitant costs… Even before the 15500ST was released, it was clear that the 15400ST would be phased out. Because it is very expensive for manufacturers to produce many sorts of motions at the same time. Audemars Piguet may limit the manufacturing of 15400ST or handle the remaining inventory in 2019. Under these conditions, the supply of 15400ST, which has remained popular, has been declining, and it is only normal that the supply is limited. And, as the market circulation has decreased since the 2020 closure, a growing number of individuals are considering accumulating the increasingly valuable 15400ST. As a result of this mindset, the 15400ST in 2020 may be described as a rare seller’s market in recent years. In addition, because of the impact of the new crown pandemic, purchasing abroad goods is more difficult, therefore many firms are aggressively proposing purchases from individual watch owners. The “absolutely indispensable” Royal Oak series has grown in popularity, and this trend is expected to continue. Support the 15400ST market trend.

Acquisition market trend in 2021 ③the new price rises, affecting the acquisition market of 15400ST and 15500ST

Indeed, from 2020 to 2021, numerous brands raised their prices under the pretext of price adjustment. Rolex, Tudor, Patek Philippe, and Audemars Piguet are among of the brands mentioned in this article. Audemars Piguet raised the price of the Royal Oak 15500ST by around 7% at the start of 2020. The pricing is significantly lower as compared to the original 15400ST! Following that, the price will rise by around 7% in 2021. “Rising brand pricing” is one of the numerous factors for the acquisition market’s increase.

Although the 15400ST is no longer priced since manufacturing has been halted, if the price of the 15500ST (or other styles) rises and the market rises, the buying price of the 15400ST is likely to climb with it. Of course, the market is volatile, and no one can be certain, but this trend is likely to persist for some time. As a result, for buyers, the period following 2021 may be the greatest “time to sell.”

Acquisition market trends in 2021 ④Silver dial

In truth, there was no silver dial variant when the 15500ST was initially introduced. Although the 15400ST debuted a new gray face in 2017 in addition to the original black and blue, it is widely assumed that the Royal Oak series stainless steel 41mm silver dial has been retired, therefore there has been speculation that the 15400ST silver dial may go Premium. However, Audemars Piguet stealthily introduced the 15500ST silver dial to the catalog in 2020!! Perhaps it’s because I’ve heard many watch fans’ expectations. After all, many buyers believe that silver is the classic. Furthermore, the present 15400ST market is trending higher, with no ups and downs in the price of just the silver dial. However, as compared to other watch makers, the silver dial of the Royal Oak line is particularly popular. Some even believe that the silver dial’s formal and exquisite texture is a trait that the black and blue dials lack, and that it fits well with the image of the “luxury sports watch” promoted by the Royal Oak line. In addition, the silver dial has grown to a remarkable high price in recent years, with merchants around the country eager to purchase it.

Because of the new introduction, the high-priced silver dial has reawakened interest, and it now has an unparalleled potential to sell.

All in all, should we sell the Royal Oak series in 2021 or should we continue to wait and see?

According to the purchase pattern of the Audemars Piguet Royal Oak series 15400ST and 15500ST in 2020 and 2021, we examine whether the Royal Oak series should be sold in 2021 or whether we should continue to wait and watch. Because the market for renowned watches is volatile and changes on a daily basis, the timing of purchasing and selling is not absolute. But now that the 15500ST has been on the market for a year, the 15400ST has been phased out…Under such circumstances, the Royal Oak series has reawakened interest, and a vital juncture in time has arrived. Indeed, as previously said, the price of 15400ST is now at an all-time high. However, there is a saying that “the best time to sell is when you want to sell.” If you prefer to wear the Royal Oak right now, I recommend you keep it. When you wish to alter your watch, you can sell it. This is the one-of-a-kind joy of a famous watch.


We examined the purchase market of 15400ST and 15500ST in 2021 for the popular watch Audemars Piguet Royal Oak series, as well as the optimum selling date. For the market in 2021, the following conclusions are reached:

① The manufacture of 15400ST was halted, significantly reducing circulation, and the market continued to climb.

② Stores are more aggressively acquiring from personal watch owners as a result of the new crown outbreak.

③ The price increase of the Audemars Piguet 15500ST and comparable watches cannot be disregarded…

④ Although the silver dial is not as expensive as the blue dial, it does write a surprise increase.

Having said that, I’d want to emphasize that the greatest moment to sell is when you want to sell! If you are unsure, please call our shop so that we may assist you!


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