A ref. 25654ST with a special-request salmon dial, one of just a handful made. This is one of 315 examples of the 25654 in steel. The 25654 was Audemars Piguet's effort at blending high watchmaking complication with the utilitarian and disruptive Royal Oak case. Its production, alongside the ref. 5554, comprises the core of pre-leap year Royal Oak Perpetual Calendar collecting. The 25654 embodies everything modern Audemars Piguet holds dear: bravery in ambition, classic sporting design from Genta, and masterful technical complication. This is a particularly excellent condition and exceedingly rare example of that pedigree.