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Newswatch: Audemars Piguet Drops 30 References Including The New Three Handed Code 11:59 Steel Collection

It seems AP wasn’t satisfied with releasing the Code 11.59 Starwheel. In an attempt to keep up with the Joneses, the beast from Le Brassus has unveiled a crazy automatic wristwatch and brand new Code 11:59 steel everyday timepiece. Today, Chrono Hunter delves under the horological skin to find out what’s going on in the wonderful world of Audemars Piguet.

Audemars Piguet’s Latest Revenue

Money talks as they say. Abba and The O-Jays talked about dollar bills which saw their song “For The Love Of Money” appear as the notorious intro theme at the start of The Apprentice USA. You know, the one with Donald Trump berating everyone. Seems like time has stood still.

And this couldn’t be clearer when analysing Audemars Piguet’s latest financial results. They have smashed it out of the park like Babe Ruth with their staggering revenue reveal. Part of the watchmaking so called ‘billion Swiss franc club’, you can now count Audemars Piguet as an illustrious member of the 10-figure turnover sect.

François-Henry Bennahmias, CEO Audemars Piguet - Source: Luxus Plus

In fact, François-Henry Bennahmias, CEO of Audemars Piguet declared at a recent press conference that the Swiss brand is doing a roaring trade - twice as much apparently. In 2022, AP raked it into the princely sum of £1.8 billion, selling 50,001 watches. You read that correctly…and one. Surely a horological effect watch but Monsieur Bennahmias is due to step down as CEO by the end of 2023. Oh, mon Dieu.

If you intend to buy an Audemars Piguet, you would naturally cast your eye initially on the oh so iconic Royal Oak series. One of the brand’s most successful collections, it has seen Audemars Piguet become only one of half a dozen luxury watch brands to hit the £1 billion plus mark. This includes the likes of Rolex, Omega and “holy trinity” member Patek Philippe.

Add the celebrity clientele factor with Royal Oak wearers like Arnold Schwarzenegger and the NBA’s all time leading scorer Lebron James and you have a phenomenal business. Not too shabby for a premium luxury watch brand that only produces some 50,000 watches annually.

According to Statista, Rolex is the only company to see a higher revenue increase by around £329.3 million pounds over the last twelve months. Note that Rolex produces over 1 million watches annually compared to Audemars Piguet’s small manufacturing numbers.

It really is pick your mouth off the floor time!

Desirability of Audemars Piguet Watches

We all know that when you buy an Audemars Piguet, watch fans and collectors alike are investing in brand exclusivity, quality materials, heritage and legendary models such as the Royal Oak Offshore.

Yet, increasing prices and adding 10,000 pieces to its former 40,000 production line has shown no signs of waning interest. Au contraire timelords. With prices being bumped up by more than £35,000 per watch, this certainly will not lead to any oversaturation as they could sell their back catalogue ten times over.

Ed Sheeran sporting an Audemars Piguet Perpetual Calendar in white ceramic - Source: Wrist Enthusiast

In luxury watch circles, as the old adage goes, you cannot always get what you want..unless you are Serena Williams or Ed Sheeran of course. The Shape of You star is believed to have a watch collection in excess of £5 million including an AP Perpetual Calendar. At the time of writing, this watch is believed to be worth in excess of £450,000 making it a highly collectable piece.

Sheeran also owns the constantly hyped Patek Phillipe Nautilus “Tiffany Dial '' and The oh so hard to come by the hottest watch of 2022, the Swatch x Omega Moonswatch, priced at just £207.

Audemars Piguet have even removed watches from their shops and concealed them in a Batman style lair known as AP House. With more than a dozen globally stretching all four corners of the globe from London to Shanghai, this new concept is a pioneering format regarding how watches are sold in luxury suites rather than boutiques.

This gives the air of buying an Audemars Piguet even more of a luxury mystique.

Code 11:59 by Audemars Piguet Ultra-Complication Universelle RD#4

Yes, we mentioned that Audemars Piguet has dropped a whopping 30 references. Sadly watch lovers, we literally don’t have time to talk about all of them but here are our horological highlights.

Starting off with the Code 11:59 by Audemars Piguet Ultra-Complication Universelle RD#4. Buy a watch like this and you’ll end up with the most complex wristwatch ever produced by the brand Le Brassus. With a staggering 40 different functions and 23 complications, you would need nearly 4 football teams to perform each individual element.

Source: Swisswatches Magazine

Beauty and efficiency come together to deliver a mind boggling array of settings like a grand sonnerie, chiming every fifteen minutes.

Paying tribute to the L’Universelle pocket watch, this is not just easy on the eye but a highly wearable piece given the number of bonkers complications on it. Measuring 42mm, watch out for its perpetual calendar, split-seconds chronograph, minute repeater, Petite Sonnerie, date display, moon phase and automatic calendar until 2400.

Source: Swisswatches Magazine

With a powerful calibre 1000 that has an incredible 1,100 components and an oversized amplitude oscillator, it bears a resemblance to the original Code 11:59 offering openworked lugs and complex crystal. Limited to just 8 pieces in four editions, the Code 11:59 by Audemars Piguet Ultra-Complication Universelle RD#4 is available in two options - 18k white gold or 18k pink gold.

Source: Swisswatches Magazine

This is rounded off with a black alligator strap with a folding clasp while AP also throws in a black textured calfskin strap with a rubber coating. And if you want to buy an Audemars Piguet housing a whopping 40 functions, it'll cost you - around £1.4 million to be precise.

Code 11:59 By Audemars Piguet Steel Collection

Since 2019 and the emergence of the Code 11:59 range, the time has moved on.

It’s 2023 and the UK economy is at its worst for decades with nearly as many Prime Ministers as Prince Harry has had best selling books. With a range of spanking new colours, textures and date apertures, the Code 11:59 has had a steely revamp.

The main elements are identical to the 2019 release of the Code 11:59 with the 4302 movement as well as the 4401 Self Winding Chronograph.

Code 11:59 by Audemars Piguet Self Winding Chronograph, - Source: Audemars Piguet

Available in dark khaki green, dark blue (namely Bleu Nuit harking back to the highly admired Royal Oak hue) and an interesting smoky beige (not particularly my colour of choice), these three new tones have a number of exciting design features.

The stainless steel cases are just one new area. Enjoy guilloche dials with a circular concentric dial pattern with a couple of minor adjustments. Say goodbye to the Arabic numerals and hello to bolshy yet defined white gold hour markers which are more defined compared to its predecessor.

Meanwhile, the date window is situated at 3 o’clock instead of half past 4. Both three-handed and chronograph models have a wider inner bevel which appears smoother. Furthermore, the second's scale has been improved to record better accuracy resulting in a much more contemporary feel.

Code 11:59 By Audemars Piguet Selfwinding, Source: Audemars Piguet

For watch fiends looking to buy an Audemars Piguet Code 11:59 steel version, the textured rubber strap may not go down so well, given the retail price of £21,800. Nevertheless, Audemars Piguet has looked at solving a potential entry-level Code watch problem. And this could be a timely intervention for avid collectors.

All six Audemars Piguet Selfwinding and Selfwinding Chronograph models will be officially launched in April 2023.

Conclusion

And let’s finally give a timely birthday salutation to the Royal Oak Offshore celebrating its 30th anniversary. As jacked up still as Mr Schwarzenegger himself, the Royal Oak Offshore is back with gusto when 1972 was all the rage thanks to the new Audemars Piguet Selfwinding Chronograph ref. 26238C.

Boasting a bolder look, it comes complete with an all matching black ceramic right down to the bracelet. Expect plenty of demand for this bad boy…despite the £72,500 retail price.

As for the new Code 11:59, the watch community imploded on the birth of the original model. Some timekeepers despised the dial as uninspiring and that it wasn’t the Royal Oak while others applauded it. However, this stainless steel iteration looks better with the colours they have selected.

Although the stainless gives it less of a luxury refinery appeal, it will attract those collectors looking for an understated sports chic timepiece that’s not as showy is it a Royal Oak no but is it something that has evolved people will talk about in the future generations only time will tell dear watch enthusiasts.

As we sign off for now, these 30 references are simply scratching the horological surface. Audemars Piguet has plenty more ambitions up its sleeve. Our timekeeping spies inform us that the luxury watchmaking giant plans to release more models every quarter in May, August and by the end of 2023.

And if you are as quick as Usain Bolt (well almost), you might be able to bag one….but lightning doesn't strike twice.

Looking to buy an Audemars Piguet or sell an Audemars Piguet in double time? Wait no more and visit Chrono Hunter today. Contact us here or download our app and we can save you money on your next transaction. Benefit from our established network of the most trusted luxury watch retailers who want to give you the best price. With impeccable service and 700-plus 5 star reviews on Trustpilot, we are your number one source if you want to buy a watch or sell a watch.

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