Rapper Jay-Z spotted wearing a Audemars Piguet

At DJ Khaled's Hollywood Walk of Fame star ceremony — a gathering that reliably delivers serious horology on the wrists of serious people — Jay-Z arrived wearing what is arguably the most extreme iteration of the Royal Oak perpetual calendar currently in production: the Audemars Piguet Royal Oak Perpetual Calendar All Black Ceramic Openworked, reference 26585CE.

The 26585CE is built around a 41mm case and integrated bracelet machined entirely from black ceramic, a material that demands considerably more complex tooling than steel or gold and results in a finish that is simultaneously matte and fathomlessly deep. The movement on display through the openworked dial is the calibre 5134, a self-winding perpetual calendar with a 40-hour power reserve. The mechanism accounts for the varying lengths of each month and will not require correction until 2100, the next century-year exception in the Gregorian calendar. Every functional element — day, date, month, moon phase — is legible through the skeletonized architecture, which removes all superfluous material while keeping the complication perfectly readable.

From a collector standpoint, the ref. 26585CE occupies rare territory. Full ceramic Royal Oaks are uncommon in themselves; a full ceramic openworked perpetual calendar is genuinely scarce. Audemars Piguet produces the reference in extremely limited numbers, and pieces seldom surface on the secondary market. When they do, demand is immediate and the price reflects it. The current grey-market valuation of approximately $680,000 against a list price of $115,800 represents one of the widest premiums in the contemporary AP catalogue — a multiplier that speaks to both restricted supply and the watch's technical and material ambition.

Jay-Z's relationship with Audemars Piguet is long-documented. He has referenced the brand explicitly in his music and has worn multiple Royal Oak variants publicly over the years. His selection of the 26585CE is consistent with a collector who has moved well beyond entry-level AP and gravitates toward pieces that reward technical knowledge.

At retail, the Royal Oak Perpetual Calendar All Black Ceramic ref. 26585CE lists for $115,800. In the current grey market, verified examples are trading near $680,000 — a figure that underscores just how decisively demand has outrun supply for this particular configuration.