Is the Audemars Piguet Royal Oak 41mm (Ref. 15500ST) worth it?

WatchMerit currently rates the Ref. 15500ST a Hold. Premium contracting toward retail uplift band.

Any offer between $77,440 and $98,560 is considered a fair price — that's a ±12% band around the median. Below that range is under-market; above it is overpriced.

Full-set examples (box, papers, unpolished) sit near the middle of that range. Watch out for missing papers or heavy polishing — expect a 5–15% discount from median in those cases. International grey-market listings can look cheaper but almost always add GST, import duty and freight once landed.

Every live listing on WatchMerit is auto-labelled Under Market, Fair Price or Overpriced against this band, so you never have to guess.

Premium contracting toward retail uplift band. Collector demand is currently High — Genta design icon; allocation effectively impossible in AU.

This reference is discontinued — Discontinued 2022; replaced by 16202ST. New AD supply is no longer available; the secondary market is the only route to acquire one.

Historical secondary-market prices for the Ref. 15500ST have appreciated approximately 76.0% from the earliest tracked year to today, indexed from public market data, auction results and Australian dealer trade sheets.

Rarity is rated Grail (0.41% of the collector pool) — ~45k AP watches made/yr. Rarer references tend to hold value better in soft markets, but liquidity can be lower.

Indicative only. Not financial advice. Past performance does not guarantee future returns.

Royal Oak Selfwinding 41mm with the calibre 4302 (introduced 2019). Grande Tapisserie dial, integrated bracelet, 50 years of Genta design language. AP allocation is closed to new clients at almost every boutique.