Watch Paparazzi

Entrepreneur Bernie Ecclestone spotted wearing Audemars Piguet

Bernie Ecclestone, the entrepreneur who shaped modern Formula 1 for four decades, was recently photographed wearing an Audemars Piguet Millenary Automatic Dual Time ref. 25778BA — a piece that rewards closer inspection far more than its relatively low public profile might suggest.

Launched in 1995, the Millenary collection introduced Audemars Piguet's most architecturally distinctive case format: an off-centered oval measuring roughly 38mm across, with a dial deliberately tilted on its axis to expose the movement architecture beneath. The ref. 25778BA takes that foundation and layers in genuine complication. The caliber 2129 automatic movement — a derivative of AP's proven 2120 base — delivers dual time zone functionality alongside a linear or sector-style power reserve indication, achieving all of this within a case depth that remains wearable despite the mechanical density. The cabochon sapphire crown, a period-correct detail on early Millenary references, adds a quietly decorative touch that distinguishes first-generation examples from later iterations.

Among collectors, the early Millenary in yellow gold occupies a specific and increasingly appreciated niche. These are not Royal Oak pieces — they carry none of that reference's cultural cachet — but the ref. 25778BA represents AP's willingness in the mid-1990s to build genuinely complex watches in an unconventional format. The dual time complication makes it practically useful for any frequent traveler, and the power reserve adds legibility without resorting to ostentation. First-generation Millenaries with complications have historically traded at a discount to their intrinsic quality, which is precisely why sharper collectors are beginning to pay attention.

Ecclestone, now in his nineties and long removed from F1's operational day-to-day, has always favored watches that signal knowledge rather than noise. A yellow gold AP complication from the 1990s fits that profile precisely — it is the choice of someone who knows what the watch is, not someone wearing a logo.

On the current grey market, the Audemars Piguet Millenary ref. 25778BA trades in the region of 15,000 EUR depending on condition and box-and-papers status — meaningfully below what comparable AP complications in yellow gold from the same era command, and arguably one of the more rational entry points into vintage AP collecting at this moment.