If you don't have your ear to the ground on the watch scene (it's just a steady tick, obviously), you might not have noticed that 2022 marks the 50th anniversary of the Audemars Piguet Royal Oak . It's a watch design so influential that it created an entire genre and has been quoted by poets of our time such as Lil Wayne ("I told him I was sorry for the wait, I value his time like an Audemars Piguet ") and Jay-Z ("I'm so tomorrow that the Audemars says yesterday"). The original was designed by Mr. Gérald Genta in 1972 and marked the first time that a bona fide luxury brand such as Audemars Piguet deigned to create an object in stainless steel, that most mundane of metals. In honor of this iconoclastic moment, auction houses around the world have recently brought together a number of landmark sales of rare and interesting Royal Oaks from the past 50 years.
There were plenty of highlights: enough platinum to sink a small ship, gemstone dials, limited editions, and even Genta 's own Royal Oak , which fetched $2.1 million, becoming the most expensive vintage Royal Oak ever sold. But one other piece caught our eye: the final lot offered at the Phillips sale on May 6. Described as "a highly distinctive blackened stainless steel wristwatch with date and bracelet" dating from 1973, it was estimated at CHF 100,000–200,000 but ultimately sold for a whopping CHF 937,500.
Audemars Piguet Royal Oak from 1973. Photo courtesy of Phillips
To the eye, it's not in great condition, but neither has it achieved the kind of magical patina that drives collectors crazy. The black coating has flaked around the bezel, case edges, and links, and the tapisserie dial pattern for which Royal Oaks are famous has faded unevenly, particularly around the hour markers. So why the stratospheric valuation? The clue lies in the color of the watch itself. It has been treated in an unorthodox manner by its owner, Mr. Karl Lagerfeld , in keeping with his obsession with all things black.
Provenance—a term used in auctions to signify that the watch belonged to someone important or interesting—is essential in the world of vintage watches and makes the difference between a valuable watch and a priceless one. The fact that it belonged to the famous designer and creative director would be proof enough, but this particular Royal Oak has attracted such interest because Lagerfeld gave it a personal makeover, covering the entire case, bracelet, and bezel in black. In doing so, he was at the forefront of what was possible in the early 1970s ( Porsche Design made the first all-black production watch the same year the Royal Oak was launched, in 1972) and was at least 40 years ahead of the watchmaking tastes of the general public. Despite the existence of some all-black models, the vogue for all-black custom luxury watches, such as the Royal Oak , Nautilus and Rolex sports models, did not land until the mid-2000s and aftermarket customizers such as Pro Hunter , Titan Black and, in its original form, Bamford Watch Department .
It took a few more years for mainstream brands to start following suit, with Panerai , Hublot , Tudor , and Bell & Ross producing their own black models. Audemars Piguet didn't release an all-black version of the Royal Oak until 2016, when it had mastered the technology to craft its complex shape from solid ceramic to avoid any risk of wearing away any coating—no matter how good—as Lagerfeld 's first attempt had done. Another brand that jumped on the all-black bandwagon much earlier than the others was Lagerfeld 's own Chanel , with the release of the J12 in 2000. Granted, watches were the department of creative director Mr. Jacques Helleu , but can that really be a coincidence? Lagerfeld was, whichever way you look at it, decidedly ahead of his time.
Text by Mr Chris Hall
Main illustration: Left: Audemars Piguet Black Royal Oak auctioned at Phillips for its 50th anniversary. Photo courtesy of Phillips. Right: Mr. Karl Lagerfeld wearing an Audemars Piguet Black Royal Oak, Paris (1979). Photograph by Mr. Daniel Simon/Gamma-Rapho via Getty Images
