Audemars Piguet Secondary Prices Hold Steady Despite Swatch Collaboration Concerns
When luxury watchmaker Audemars Piguet announced a collaboration with Swatch last month, some collectors feared the worst. Rapper DDG said he would sell his $180,000 Audemars Piguet if the partnership cheapened the brand, while horology enthusiasts warned that one of the “Holy Trinity” of watchmakers had gone plastic. Yet weeks after the launch of the AP-Swatch Royal Pop collection, secondary market prices for Audemars Piguet have not moved.
No Discernible Impact on Pricing
“There has been no discernible impact on AP prices from the launch,” said Hamza Masood, head of partnerships at WatchCharts, which tracks secondary values for all major Audemars Piguet models. The Royal Pop collection features brightly colored watches on lanyards, designed not as wristwatches but as part of the brand’s longer-term strategy to attract younger buyers and more women, Masood explained. Audemars Piguet’s signature Royal Oak models typically retail for over $50,000 with multiyear waiting lists. “Fundamentally, everybody recognizes that this does not really eat into AP equity in any real, meaningful way,” Masood added. “The product is not diluting the Royal Oak collector experience, because it’s not even designed to be a wristwatch.”
Market Challenges and Recovery
Despite the collaboration’s benign effect on pricing, Audemars Piguet faces broader market headwinds. After a speculative bubble in luxury watches during the pandemic, the market plunged in 2022 and is only now stabilizing. WatchCharts’ AP Index—comprising the top 30 models from the brand—is down about 40% from its 2022 peak. Rolex and Patek Philippe, the other two members of the “Big Three” luxury watchmakers, are also down from their highs.
In the first quarter, Audemars Piguet’s secondary prices rose 2%, compared with 1.7% for Rolex and 3% for Patek, according to WatchCharts. AP’s inventory is aging more than its peers, suggesting a larger mismatch between demand and supply. “AP has not seen the same level of market recovery as the other two members of the Big Three,” Masood said.
Cultural Buzz and Long-Term Strategy
Masood noted that the Royal Pop gave Audemars Piguet something money can rarely buy: cultural buzz on social media and digital news. The burst of attention is expected to spark interest among teens and 20-somethings, who may one day afford a Royal Oak. Audemars Piguet produces only about 50,000 watches annually—compared with over a million for Rolex—and remains family-controlled.
Market Context
As of June 02, 2026, the United States dollar traded at 71.55 Russian rubles (change: +0.53), the euro at 86.25 Russian rubles (change: +3.61). Bitcoin was at $68,966 (24-hour change: -4.4%). Oil was estimated at approximately $72 per barrel.