The Audemars Piguet Royal Oak is one of the most iconic and sought-after luxury watches in the world. From the classic “Jumbo” to the newer 15510ST, its distinctive design, heritage, and limited production have made it a modern grail piece. But in 2025, buying a Royal Oak at retail isn’t just difficult—it’s nearly impossible for new buyers. Between boutique-only distribution, opaque waitlist practices, and the steep buy-in required to even be considered, many collectors are discovering that the traditional retail path is less about watches and more about status. Here’s what it really takes to get one—and why most buyers end up choosing the secondary market instead.
What Makes the Royal Oak So Hard to Buy
Ask almost any collector what their dream watch is, and one name surfaces over and over: the Audemars Piguet Royal Oak. Whether it’s the classic “Jumbo,” a three-hand 15510ST, or the ultra-thin perpetual calendar, the Royal Oak occupies a tier of desirability few other watches can touch.
Unfortunately, in 2025, owning a Royal Oak at retail price has become less about having the money and more about navigating an opaque system that heavily favors insiders. For the average enthusiast, the odds of walking into an AP boutique and getting a Royal Oak at retail are somewhere between slim and none. And the path to improving your chances? It’s long, expensive, and often filled with compromises.
Here’s how the retail system really works, and why for most buyers, the secondary market is the more practical and empowering option.
How Many Watches AP Makes and Who Gets Them
Audemars Piguet produces roughly 50,000 watches per year across all references. That includes the Royal Oak, Royal Oak Offshore, Code 11.59, and high complications. Of those 50,000, only a portion are stainless steel Royal Oaks—the most in-demand configuration.
The supply-demand mismatch is extreme. Even if every AP boutique were allocated an equal number of pieces (they’re not), the waitlist would still exceed what the brand can fulfill in years, not months.
AP no longer works with multi-brand authorized dealers. If you want a Royal Oak, you must go through an Audemars Piguet House or boutique, all of which are owned and operated by the brand. This ensures full control over distribution and allocation.
How the AP Waitlist System Works
Despite what you may hear, there is no “first come, first served” list for Royal Oaks. Audemars Piguet boutiques do keep internal waitlists, but those lists are prioritized based almost entirely on purchase history.
If you’ve never bought from AP before and you’re asking for one of the core steel references, your request will often be quietly noted, but your chance of getting one any time soon is negligible.
Generally speaking, a new client with no purchase history may wait 12 to 24 months, if they’re offered anything at all. Clients who have purchased a Code 11.59 or Royal Oak Offshore might expect a timeline of 6 to 12 months. Buyers who have multiple AP purchases under their belt are more likely to receive a Royal Oak within 3 to 6 months. High-profile collectors with established history could see turnaround in 1 to 3 months, while VIPs and cultural figures are often fast-tracked, sometimes receiving allocations almost immediately.
The bottom line: you don’t get rewarded for time spent on a list. You get rewarded for money spent and loyalty demonstrated.
Buying Other AP Watches Just to Qualify
To even be considered for a desirable Royal Oak at retail, many clients are encouraged to start with another reference, usually one that’s less liquid on the secondary market.
This might include:
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A Code 11.59 Chronograph or Automatic
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A Royal Oak Offshore
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A two-tone or precious metal Royal Oak in smaller sizes
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Occasionally, a diamond-set or boutique-only configuration
These “starter” watches rarely hold their value, and in many cases, you’ll take a noticeable loss if you decide to resell. Buyers expecting that their initial purchase will unlock their dream Royal Oak often find themselves waiting much longer than promised, encouraged to buy a second or third piece, and frustrated by vague communication and no guaranteed outcomes. In the meantime, you’re capital-locked in watches you didn’t originally want, with no clear timeline or upside.
AP Prioritizes VIPs and Influencers
A common perception is that celebrities, athletes, and influencers get Royal Oaks quickly. That’s not entirely wrong. AP does prioritize high-visibility clients because they elevate the brand’s image and cultural cachet. But this isn’t advice the average buyer can act on.
Unless you’re a known public figure or a top-tier client already, this tier of access simply doesn’t apply. Trying to game the system with flashy behavior or name-dropping often works against you.
Why Most Buyers Choose the Secondary Market
The reality is that most serious collectors turn to the secondary market, not out of impatience but out of practicality. On the secondary market, the most desirable Royal Oak references are available immediately. There’s no long-term courting, no relationship-building, and no guessing game about whether you’ll ever be approved for allocation.
Buyers also get to purchase exactly what they want. You’re not being nudged toward entry-level models you never asked for. You can target the reference, dial, metal, and condition that fits your preferences without compromise. While you will likely pay more than retail, the price reflects the watch’s actual value today, based on real-time demand and market behavior. That transparency is a major contrast to the boutique system, where you might spend significant money on watches with poor resale value just to “earn” a spot on a future allocation list.
In many cases, the cost of chasing retail—buying multiple unwanted pieces, enduring long waits, or tying up capital—ends up being greater than simply paying the premium for the watch you originally wanted. For collectors who value time, certainty, and control, the secondary market isn’t a fallback. It’s the smarter path.
Secondary Market Pricing vs. AP Retail Pricing
Yes, secondary prices can be significantly higher than retail. But retail is only available to a very small segment of prioritized clients. The rest of the market trades based on scarcity, desirability, and time. Retail price is theoretical. Market price is reality.
Many buyers who spend years chasing “retail” end up overpaying through sunk costs in unwanted pieces, wasting time trying to get on lists that go nowhere, and missing out on watches they could have owned years earlier.
When the Retail Strategy Makes Sense
There are a few cases where the retail route might be worth pursuing. You’re genuinely passionate about building a long-term AP collection. You’re okay with waiting several years and potentially buying multiple watches to reach allocation. You actually like the Code 11.59 or other “entry” pieces and want them anyway. Or you live near an AP House and can build a relationship over time.
If that’s your situation, go in with clear eyes, expect a long journey, and don’t tie your hopes to one model. But for everyone else, you’re better off buying the watch you want, when you want it.
Final Thoughts
Audemars Piguet makes incredible watches. That’s not in question. But in 2025, the path to owning a Royal Oak at retail has become more about strategy, status, and patience than money. The brand isn’t selling you a watch—they’re inviting you into a curated club. And most people never make it in. Fortunately, you don’t need an invitation.
The secondary market exists because demand outpaces boutique distribution, and because collectors deserve transparency, optionality, and access. When you buy from a trusted dealer, you’re not settling. You’re taking control. So if you’ve got your eye on a Royal Oak, remember this: retail is a fantasy for most. But the Royal Oak is very real if you know where to look.
Looking for your first—or next—Royal Oak?
At Wrist Aficionado, we source the most sought-after Audemars Piguet pieces globally, from steel “Jumbos” to boutique-only Royal Oak Perpetuals. Every piece is authenticated, curated, and backed by our expert team. No waitlists. No games. Just 100% authentic watches you can own today.
