Audemars Piguet 25654 (Pre-owned - Good) — USD 125,000 on eBay

Audemars Piguet Royal Oak Offshore Chronograph Reference 25654 The Reference 25654 represents an early iteration of the Royal Oak Offshore Chronograph series, produced from 1997 to 2005. This reference features a black dial configuration within the 42mm case format that defines the Offshore chronograph collection. The watch houses the automatic Caliber 2226/2840 movement, offering a 50-hour power reserve. The 42mm stainless steel case incorporates the series' characteristic fixed octagonal bezel and is fitted with sapphire crystal. Water resistance extends to 100 meters, and the watch is completed with a rubber strap. This reference appeals to collectors seeking an accessible entry point into the Royal Oak Offshore chronograph lineup. The combination of stainless steel construction, black dial, and rubber strap positioning makes the 25654 a representative example of the collection's sports chronograph approach during its production period.