If you bought your Royal Oak before 2018, the secondary market has been kinder to you than to almost any other category of luxury watch over the same period. Even after the 2022–2023 cool-down, the piece is likely worth meaningfully more than you paid for it. If you bought after...

There are two ways to think about an Audemars Piguet Royal Oak. As a watch, made by a Le Brassus manufacture with a history that predates Gerald Genta's 1972 sketch by over a century. Or as one of the most heavily traded modern collectibles outside of fine art. Anyone deciding...