Hands-On Review: AP Royal Oak Perpetual Calendar 26574OR
I recently got to wear a full rose gold Audemars Piguet Royal Oak Perpetual Calendar, and this thing does not whisper wealth; it screams it. It’s one of the nicest complicated watches AP makes, so watch the video below or keep reading for my thoughts on the Royal Oak 26574OR.
History/Overview
First of all, when it comes to the Audemars Piguet Royal Oak, I’m biased–I often wear one of the original Royal Oaks designed back in 1972 by Gerald Genta. I think Genta was one of the greatest designers of all time. The original stainless steel Royal Oak revolutionized the watch world back in 1972, singlehandedly creating the luxury stainless steel sports watch segment. Mainstream buyers thought “Why pay 3,300 francs for this when a steel Rolex Submariner is 1/4th the price?” but the Royal Oak has had enthusiastic deep-pocketed fans from the beginning.
The first perpetual calendar version of the Royal Oak appeared in 1984, and ref. 26574OR is a modern take on that classic complication. The first 26574OR appeared in 2015, and today the market value of the 26574OR.OO.1220OR.03 shown here is around $175,000–nearly double its $95,000 list price.
AP 26574OR Case and Dial
The case of the AP Royal Oak 26574OR is 41mm wide and 9.5mm thick, made of solid 18k rose gold with a fully integrated bracelet. The dial shows the day, the date, the moon phase, and the leap year–this is a seriously complicated watch.
But it’s a very legible layout for a perpetual calendar. A lot of perpetual calendars on the market are hard to read.
More on the AP Royal Oak:
Fortunately, the sapphire exhibition caseback allows a look at the movement. Let’s talk about that now.
Movement
The 26574OR uses the Caliber 5134, an ultra-thin perpetual calendar movement based on the legendary 2120 architecture. In 2024, Audemars Piguet announced that the John Mayer Royal Oak Perpetual Calendar—a limited edition in white gold—would be the last watch to use the Caliber 5134.
This caliber has a decent power reserve of 40 hours, and if you plan on living until the year 2100, plan on adjusting the leap year then. But until then, you won’t have to–and the astronomical moonphase will also stay on point for another 125 years or so. In the meantime, the 22k gold rotor is so well decorated that you’ll want to stare at the back of the AP 26574OR often. It’s just a beautiful thing.
Comfort/Wearability
The clasp of the 26574OR is extremely comfortable. It’s not a simple fold-over; it’s a butterfly clasp and personally I love that. The water resistance rating is only 20m, so it’s basically splash-resistant. I wouldn’t go swimming in this thing.
Rose gold does scratch easily, so it needs a little bit of care. But on the plus side, scratches aren’t as visible on rose gold as they are on white gold or stainless steel. And if you like to feel the presence of the watch on your wrist, you can’t beat a full gold watch.
Audemars Piguet Royal Oak Ref. 26574OR Specs
| Feature | Details |
|---|---|
| Model Number(s) | 26574OR.OO.1220OR.01 (silver/white dial) 26574OR.OO.1220OR.02 (blue dial, original) 26574OR.OO.1220OR.03 (blue dial, updated in 2021) |
| Debut Year | 2015 |
| Case Material | 18-carat rose (pink) gold |
| Case Width | 41mm |
| Case Thickness | 9.5mm |
| Water Resistance | 20m |
| Movement Caliber | Caliber 5134 (Automatic, 5.5 beats per second) |
| Power Reserve | 40 hours |
| Bracelet/Strap Options | 18-carat rose gold bracelet with AP butterfly (dual-fold) clasp |
| MSRP | $95,000 |
| Market Value | ~$140,000-$175,000 depending on dial and condition |
Design
The Royal Oak is the greatest blank canvas for a sports watch in the world. And when it comes to AP, the finishing, the dial layout, the quality of the movement–everything is superb. I don’t recommend buying a watch as an investment but I certainly will tell you that the 26574OR does have long-term value potential and is likely to at least retain its value, give or take 20% or so. But keep in mind that maintenance can get pricey on AP’s these days.
The AP Royal Oak Perpetual Calendar in rose gold is not a stealth wealth watch; it’s most definitely a flex piece with either a grey or blue dial. The previous version of the blue dial was darker and all one hue–no contrast with the subdials. The newer blue dial, which replaced it in 2021 and is the one shown in this article, is undoubtedly better in terms of legibility. And the contrasting blues just make it nicer from an aesthetic perspective.
A lot of people thought rose gold might be a fad, but even though yellow gold has made a bit of a comeback in recent years, rose gold is never going away. I will say that rose gold pairs brilliantly with a dark dial, and if the 26574OR had a black dial I might love it even more.
AP Royal Oak Perpetual Calendar 26574OR Pros and Cons
| Pros | Cons |
|---|---|
| Highly complicated, well finished movement | Limited water resistance |
| Recognizable, iconic design | Pricey service and maintenance |
| Long-term value potential | Easy to scratch (rose gold case/bracelet) |
| Superb dial design and finishing | Less stealthy—definitely a flex piece |
Compared to the AP 26574OR, you could pay less for a Vacheron Constantin Overseas Perpetual Calendar, which is both more water-resistant and under-the-radar. Or you could consider a Patek Philippe Nautilus ref. 5740, which is more expensive but slightly thinner. But the 26574OR provides its own solid value proposition for luxury watch buyers in this price range.
Who is the AP 26574OR For?
The AP 26574OR is not your first watch; it’s for someone who’s already deep in the game. This is for someone who has done the steel sports watch thing and is ready for something complicated, precious, and loud. This isn’t for somebody looking for subtlety, because not only is the Royal Oak one of the most recognizable watch designs there is, but it’s all rose gold. Plus, nowadays the four subdials are an immediate giveaway to any watch nerd that it’s a perpetual calendar. This watch is less “stealth wealth” and more “power move.”
To me, AP hits a sweet spot between hype/clout and true craftsmanship. If you have the cash, wrist presence and confidence to pull off a full rose gold watch, the AP 26574OR is a showstopper with brains. As always, I hope my opinion has been somewhat helpful for your watch purchasing decisions. Please let me know your thoughts in the comments, and I’ll see you on the next one!
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