Entrepreneur Steven Zhang spotted wearing a Audemars Piguet

Steven Zhang, the 32-year-old chairman of Inter Milan and son of Suning Holdings founder Zhang Jindong, was spotted on his wrist wearing the Audemars Piguet Royal Oak Chronograph in black ceramic — reference 26240CE — during the club's 2023 Coppa Italia triumph. It is a fitting choice: a watch that commands serious attention in any room, worn by a man who just lifted silverware in front of 70,000 fans.

The Royal Oak Chronograph Ref. 26240CE is one of the headline pieces from Audemars Piguet's sweeping 50th anniversary celebration of the Royal Oak, originally designed by Gérald Genta and launched in 1972. The black ceramic case — crafted from zirconia ceramic, a material demanding extraordinary precision to machine — measures 41mm and houses the in-house Calibre 4401, a column-wheel flyback chronograph movement with a horizontal clutch, 70-hour power reserve, and a silicon escapement. The movement itself represents years of development and is widely regarded as one of the finest integrated chronograph calibres in modern watchmaking. The slate-grey tapisserie dial with rose gold-toned sub-registers and applied hour markers creates a contrast that is restrained but unmistakably authoritative.

From a collector's perspective, the 26240CE occupies a peculiar sweet spot. Ceramic Royal Oaks have historically attracted strong demand among a younger, fashion-forward generation of serious collectors, and the 50th anniversary context adds a clear layer of historical significance. The reference does not carry the stratospheric hype of the Jumbo 16202, but it is arguably a more wearable, more technically interesting proposition — and the secondary market reflects sustained appetite rather than speculative fever.

Zhang has consistently shown a preference for technically credible, visually bold timepieces. Wearing the 26240CE at a trophy celebration rather than a formal gala reveals a collector who treats his watches as everyday instruments, not display pieces — a sensibility that serious enthusiasts tend to respect.

At retail, the Audemars Piguet Royal Oak Chronograph Ref. 26240CE carries a list price of approximately $74,600. On the grey market, however, the reference currently trades around $172,000 — a premium of well over double retail that underscores just how difficult this piece remains to acquire through authorised channels. For Zhang, the watch is almost certainly incidental to the celebration. For the watch world, it is the detail that matters.