The Steel Royal Oak, Reference by Reference: 15500ST, 15510ST, 15202ST and 16202ST
The 41 mm 15510ST in blue is worth $64,000, its predecessor 15500ST $56,000. The ultra-thin Jumbo 16202ST leads at $102,000. The dials we price, and the one we would buy.
The steel Royal Oak time-only watches come in two lines: the 41 mm self-winding watch (the 15500ST, succeeded by the 15510ST in 2022) and the 39 mm ultra-thin "Jumbo" (the 15202ST and the 16202ST). The chronographs follow below. Each comes in several dials, and the dial moves the price as much as the reference.
The 41 mm Royal Oak
| Criterion | 15510ST | 15500ST |
|---|---|---|
| Blue | $64,000 | $56,000 |
| Ice blue | No recent market | $64,500 |
| Green | $56,500 | No recent market |
| Black | $56,500 | $46,500 |
| Grey | $49,000 | $45,000 |
| White | $48,500 | $42,500 |
| Silver | $48,500 | $43,500 |
The 15510ST lists at $31,900 in the US; AP's price service shows the same figure for the 15500ST it replaced in 2022. The 15510ST trades at 1.5 to 2 times that; the 15500ST at 1.3 to 2 times, its ice blue dial at the top.
The Jumbo
| Criterion | Estimate |
|---|---|
| 16202ST, blue | $102,000 |
| 15202ST, blue | $80,000 |
| 15202ST, white | $59,500 |
The 16202ST lists at $40,100 in the US and trades at 2.5 times that.
The chronographs
| Criterion | 26240ST | 26331ST |
|---|---|---|
| Blue | $70,500 | $50,500 |
| Green | $70,000 | No recent market |
| Black | $67,000 | $46,000 |
| White | $51,500 | $48,500 |
| Silver | $50,500 | $49,500 |
Our view
The best value in the steel Royal Oak family in 2026 is the 15500ST in a neutral dial: the same 41 mm case and bracelet as the current watch, at $42,500 to $46,500 for white, silver or black, against $56,500 for a black 15510ST. The Jumbo is a different purchase: thinner, more refined and more collected, and its price reflects it. If you want the Royal Oak that Gérald Genta drew, buy a Jumbo. If you want a Royal Oak to wear every day, buy a 15500ST and keep the difference.
Figures are Unaged Luxury estimates as of October 24, 2026: retail-equivalent, full set unless stated, from the recent market. Estimates, not offers. Figures the site marks as limited data rest on few recent records. Reference numbers in the text link to their live value pages, which move with the market.
Referenced in this guide
Value any watch- Audemars Piguet Royal Oak 15500ST15500ST, full set$46,500
- Audemars Piguet Royal Oak 15510ST15510ST, full set$64,000
- Audemars Piguet Royal Oak 15202ST15202ST, full set$80,000
- Audemars Piguet Royal Oak 16202ST16202ST, full set$102,000
Estimates. Not offers. Retail-equivalent, today.