Patek Philippe Nautilus vs Audemars Piguet Royal Oak: Price, History and Which to Buy

Fifty years after Gérald Genta drew a porthole for Patek Philippe, the Nautilus and the Royal Oak remain the two most talked-about luxury sports watches in the world. They share a designer, an integrated bracelet and a reputation for long waiting lists. In 2026, they no longer share a price bracket.

How much do the Nautilus and the Royal Oak cost in 2026?

Patek Philippe no longer makes a steel Nautilus for men. The celebrated 5711/1A was discontinued in 2021, and the collection is now made in precious metals, as WatchesBySJX notes. At the time of writing, Patek’s website lists the Nautilus 5811/1G in white gold at $82,021, the ladies’ 7118/1200R in rose gold at $76,645 and the 5712/1R with moon phase at $97,650. The 5990/1R Travel Time chronograph reaches $139,410.

The Royal Oak still starts in steel. Luxury Bazaar reported in January that the 41 mm Royal Oak Selfwinding 15510ST retails for about $31,900, the 37 mm 15550ST for about $30,400, the 39 mm “Jumbo” Extra-Thin 16202ST for about $40,100 and the steel Royal Oak Chronograph 26240ST for about $44,400. Audemars Piguet raised US prices by an average of 7.5% on January 1, according to WatchPro, while Patek Philippe left its prices unchanged that day. Confirm current Royal Oak prices with an Audemars Piguet boutique.

Nautilus vs Royal Oak: specs side by side

	Patek Nautilus 5811/1G	AP Royal Oak 15510ST	AP Royal Oak 16202ST
US retail	$82,021	About $31,900	About $40,100
Metal	White gold	Steel	Steel
Case	41 mm, 8.2 mm thick	41 mm, about 10.5 mm	39 mm, 8.1 mm
Movement	Calibre 26-330 S C	Calibre 4302	Calibre 7121
Power reserve	35 to 45 hours	About 70 hours	About 55 hours
Water resistance	30 m	50 m	50 m

Specifications are from Patek Philippe, Wristcheck and WatchesBySJX. The 16202ST, just over 8 mm thick, is the closest modern descendant of the 1972 original; the 15510ST is the everyday Royal Oak, with the longer power reserve.

What did Patek release for the Nautilus’s 50th anniversary?

Patek marked the anniversary at Watches and Wonders in April with limited editions: the white gold 5810/1G on a bracelet, 41 mm and only 6.9 mm thick, in 2,000 pieces at $93,774; the platinum 5610/1P, 38 mm, also in 2,000 pieces, at $112,529; and the 5810G on a navy composite strap with baguette diamond markers, 1,000 pieces at $75,019. Like the 1976 original, none has a seconds hand, and each rotor is engraved “50 1976–2026”, as Time+Tide reports. Audemars Piguet’s 2026 Royal Oak novelties, among them a titanium “Jumbo” Extra-Thin Openworked and malachite-dial Selfwinding models, leave the core steel references in place, according to Haute Time.

Which holds its value better?

Both trade above retail, but well below the 2022 peak. Luxury Bazaar put the steel Royal Oak 15510ST at about $46,560 on the secondary market in January, against about $31,900 at retail, and the 16202ST at about $80,000, roughly double its retail price. The 5711 shows how far the market fell: EveryWatch data reported by Canadian Jeweller show it peaking at $131,504 in 2022 and falling to $89,404 by October 2024.

The recovery since has favoured Patek. In the twelve months to March 2026, Nautilus prices rose 13.3%, against 3.4% for Audemars Piguet, according to Borro, which puts the 5811/1G at about $150,000, around 1.7 times retail. Dealer prices for the Nautilus vary widely, so treat any single figure as a range. Pre-owned prices move with the market, and past prices do not predict future value.

The history: one designer, two icons

Audemars Piguet unveiled the Royal Oak 5402 at the 1972 Basel Fair: a 39 mm steel watch with an integrated bracelet, calibre 2121 and 100 metres of water resistance, which Gérald Genta is said to have designed in a single night. The brand planned 1,000 pieces; it made 6,050 between 1972 and 2002, according to its own archive.

Four years later, Genta drew the Nautilus for Patek Philippe, inspired by the portholes of ocean liners. The 1976 reference 3700 measured 42 mm, large for its day, as Sotheby’s recounts. Its successor, the 5711, arrived in 2006 and became one of the most sought-after steel watches of its era. After Patek announced its retirement, a Tiffany-blue 5711/1A-018, one of 170 made, sold at Phillips in December 2021 for $6,503,500.

Same designer, same idea, two temperaments: the Royal Oak is architecture, the Nautilus is water.

Nautilus or Royal Oak: which should you buy?

In our view, the Royal Oak is the one to buy if you want a steel Genta icon at retail, ideally the 16202ST, the closest modern descendant of the 1972 original. The Nautilus has become a precious-metal watch and is priced accordingly; for most buyers, a pre-owned piece from a specialist with a written guarantee is the realistic route. Before you buy either, read our watchmaker’s pre-owned buying checklist.

Frequently asked questions

Is the Patek Nautilus more expensive than the AP Royal Oak?

Yes, at retail. The current Nautilus line is made in precious metals, from $76,645 for the ladies’ 7118/1200R, while the steel Royal Oak starts at about $30,400, as reported in January.

Did Gérald Genta design both watches?

Yes. He designed the Royal Oak, launched in 1972, and the Nautilus, launched in 1976.

Is the steel Nautilus 5711 still made?

No. Patek Philippe discontinued the 5711/1A in 2021, and today’s Nautilus collection is made in precious metals.

Do the Nautilus and the Royal Oak sell above retail?

Many references do. Steel Royal Oaks and the Nautilus have traded above retail in 2026, though below their 2022 peak, according to dealer and market reports.

Sources: Patek Philippe · AP Chronicles · Luxury Bazaar · WatchPro · WatchesBySJX · Wristcheck · Time+Tide · Haute Time · Canadian Jeweller · Borro · Sotheby’s