Audemars Piguet Royal Oak Offshore Ref. 25721ST 'UNMARKED' First Series The Beast One of the First 100 Examples produced

When Audemars Piguet introduced the Royal Oak Offshore in 1993, the first examples to leave Le Brassus carried a detail that would never be repeated: the caseback bore no mention of the word "Offshore". Only the words "Royal Oak" were engraved, as if the manufacture itself had not yet decided how to name what it had created. This omission applied exclusively to the first 100 examples produced, making them the rarest and most historically significant configuration of the entire Offshore production history. This watch, with its D23 serial number, is one of them.

Key Specifications

Reference	25721ST
Year	1993
Case	Stainless steel, 42 mm, integrated crown protector
Caseback	"UNMARKED" engraved "Royal Oak" only, without "Offshore" inscription (first 100 examples)
Dial	Blue with applied baton indices
Movement	Automatic, Cal. 2226/2840 (base JLC 889), chronograph, 38-hour power reserve
Functions	Hours, minutes, seconds, date, chronograph
Bracelet	First Series stainless steel bracelet with double folding clasp (fitted on first 500 examples only)
Serial number	D23XXXXX
Accessories	Original Audemars Piguet box

Collector's Note

The "Unmarked" caseback is the single most sought-after detail in the entire collecting universe of the Royal Oak Offshore. Among the thousands of 25721ST examples produced between 1993 and 2004, only the first 100 carry this configuration. Every specialist, every auction house, and every serious Offshore collector knows this number. The D23 serial prefix places this watch firmly within that group, and the caseback can be verified directly against the engraving.

The First Series bracelet compounds the rarity further. The double folding clasp was a feature reserved exclusively for the first 500 examples of the Offshore, replaced by a single-fold clasp on all subsequent production. On this watch, both the caseback and the bracelet confirm its position as one of the earliest Offshore examples in existence: a watch that was present at the beginning of what became one of the most influential watch lines of the past thirty years. The original box completes the provenance.

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