Audemars Piguet Offshore Perpetual Calendar 25854ST

In the world of replica watches, some models are so obscure in the mainstream collecting space that even the homage market barely touches them. But among Royal Oak-inspired replicas, one rare piece stands out as both technically ambitious and historically fascinating. It is a tribute to the first-ever Royal Oak Offshore Perpetual Calendar Chronograph, reference 25854ST.

Yes, it is an Offshore. Gérald Genta likely would not have approved of either the original or the idea of recreating it. While many may confuse this model with a replica of “The Beast,” the iconic 25721ST, this one pays homage to something even rarer. It references the very first Royal Oak Offshore to combine a perpetual calendar with a chronograph, released in 1997 with fewer than 50 pieces made.

It quietly launched alongside the 25865 Grand Comp, a classic-shaped Royal Oak featuring a split-seconds chronograph and minute repeater. While the 25865 captured more attention, the 25854 remained largely forgotten. That makes this replica a tribute to the very first Royal Oak PCC (Perpetual Calendar Chronograph), a meaningful and underappreciated milestone in the evolution of complicated Royal Oaks.

A Forgotten Giant, Now Recreated

The late 1990s were a chaotic and daring time for Audemars Piguet. The 25854 was a formidable technical challenge. At the 9 o'clock subdial, three separate indicators were stacked into a single space. One was a disc, and the others pointed to the month, leap year cycle, and chronograph minutes. Despite this complexity, it kept the familiar 12-6-9 chronograph layout from the original Offshore.

What makes high-quality replicas Audemars Piguet watches especially compelling is their attention to strange and subtle details. The moonphase is unlike any other, and the dial construction attempts to mirror the original’s signature “tapisserie” texture. Some replicas even go so far as to simulate the tropical aging that original models were known for, though this level of detail remains rare and difficult to execute convincingly.

A Watch Not for Everyone, Which is Exactly the Point

This is not a universally wearable watch. It was never meant to be. The Offshore series already pushed boundaries with its scale and presence. The 25854 took things even further with its technical density and aggressive design. That makes it especially appealing to a very specific kind of enthusiast: someone fascinated by forgotten chapters of Royal Oak history and drawn to oversized, function-rich builds.

Only two known original 25854s have appeared at auction in recent years. Most examples have changed hands privately. Auction results tend to land in the $600 to $700 range, while public listings often ask closer to $1000. That pricing gap has left room for creative replica makers to step in. In a market saturated with Daytona and Submariner homages, this stands out as something you rarely see.

A Niche Tribute Worth Knowing

This particular replica seems to be based on an original that was lightly polished, with a tiny mark on the upper right lug flat. The lume is rendered in a tone that imitates aged tritium, and the finishing overall is quite solid for a model this obscure. It is offered by a well-regarded replica watches in London and comes with a replica certificate modeled after AP’s, though without a box.

In the replica space, this watch is not interesting because it is flawless. It is interesting because it dares to replicate something no one else is talking about. It represents an important but often ignored step in the story of Audemars Piguet’s complicated sports watches. Whether your interest lies in 1990s design, unusual complications, or simply the thrill of owning something rare and strange, this one is hard to ignore.

Some replicas matter not because they follow the market, but because they follow the forgotten.