Watch Paparazzi

Entrepreneur Giancarlo Giammetti spotted wearing Audemars Piguet

The wrist of Giancarlo Giammetti rarely goes unnoticed in fashion circles, but even by his standards, the watch glimpsed beneath his sleeve on this occasion is something exceptional. Partially visible yet immediately identifiable, the Audemars Piguet Royal Oak Perpetual Calendar ref. 25820PT in platinum with a salmon-rose dial surfaced at what appears to be a private birthday celebration — and it is arguably one of the most rarefied configurations the Royal Oak has ever worn.

The Royal Oak Perpetual Calendar has been a cornerstone of Audemars Piguet's complicated watch offer since the 1980s, combining Gerald Genta's iconic integrated-bracelet architecture with one of watchmaking's most intellectually demanding complications. Reference 25820PT houses a self-winding mechanical movement — the calibre 2120/2800 — offering perpetual calendar functions including day, date, month, moon phase, and leap-year indication, all displayed across the signature Grande Tapisserie dial with an elegance that belies the mechanical complexity underneath. The platinum case measures 39mm, lending the piece a dense, cool presence on the wrist that differs markedly from its steel or gold counterparts.

What elevates this specific example to near-mythical status among collectors is the dial colour. Audemars Piguet reserves the salmon-rose — often described as salmone in Italian collecting circles — for its most commemorative Royal Oak releases: jubilee editions marking significant anniversaries or bespoke presentations for highly privileged clients. Documented examples with this exact dial treatment number fewer than four, making each confirmed sighting a genuine horological event. The combination of platinum and salmon dial creates a chromatic tension that is warm yet aristocratic, wholly unlike any standard production reference.

Giancarlo Giammetti built one of fashion's most enduring empires alongside Valentino Garavani over five decades, and his personal aesthetic has always reflected a preference for quality over ostentation. A platinum Royal Oak perpetual calendar — discreet in silhouette, devastating in detail — fits that sensibility precisely. It is a collector's watch that rewards the knowledgeable eye rather than seeking attention from the uninitiated.

On the grey market, even standard-configuration Royal Oak Perpetual Calendar references in platinum command significant premiums over retail, with examples in exceptional dial configurations trading at multiples that are difficult to quantify given the near-absence of comparable sales. The ref. 25820PT in salmon dial is, in practical terms, a private-market piece — one whose value is set by the conversation between two collectors rather than any auction estimate.