In 2022, Audemars Piguet celebrated 50 years of the Royal Oak by unveiling what might be the most extravagant iteration of the iconic sports watch to date: a pair of “Rainbow” Royal Oak sets, each dripping in multicoloured gemstones. Rather than a single watch with a rainbow-gradient bezel as the typical industry approach, AP created two sets of ten gem-set Royal Oaks, specifically for the important anniversary: one set in 37 mm and one in 41 mm, where each watch is fully pavé in a different coloured stone.
Reinventing the Rainbow Watch Tradition
Traditionally, so-called rainbow watches have featured an array of coloured gems on a single timepiece to mimic a rainbow. Audemars Piguet turned that idea on its head. To mark the Royal Oak’s golden jubilee, AP went all in: two sets of ten watches, each in 18kt white gold, with every surface blanketed in precious coloured stones of a single hue. Placed together, they create a literal rainbow across multiple watches, a “bigger-picture execution” that takes the rainbow concept to a whole new level. Every part of these watches, even the crown, is invisibly set with matching gemstones, so the effect is as if the Royal Oak were sculpted from solid gemstone, radiating a single vivid colour.
This extravagant approach did not come easy. According to AP’s gem specialists, sourcing the right stones of consistent colour, clarity and carat took about a year. Each 41 mm Rainbow Royal Oak is set with approximately 861 baguette-cut gems (around 35 carats), while each 37 mm model carries about 790 gems (around 30 carats). Achieving perfect uniformity across hundreds of gems is exceedingly challenging, any slight variation in fact could stand out when a watch is all one colour.
It’s no wonder Audemars Piguet imposed strict criteria and hand-selected some of the world’s purest, most vivid stones for this project. As AP’s Head of Gemmology Nathalie Barzilay said, the brand went off the beaten track to create an unprecedented rainbow with ten bold timepieces, all with the exact same colour and the highest level of quality.
The Art of Invisible Gem-Setting
Once the gemstones were assembled, the task of setting them into the complex Royal Oak design was a feat of craftsmanship. Audemars Piguet employed the intricate technique of invisible gem- setting for these pieces, a method usually seen only in the highest jewellery. Each gemstone was custom-cut into a slim baguette shape: 179 different sizes for the 41 mm and 153 sizes for the 37 mm, in order to perfectly fit the Royal Oak’s angular geometry.
Tiny grooves are cut into the sides of each stone, which then snaps into hidden rails in the gold structure, with no visible prongs or settings holding it. The result is a seamless carpet of gems, creating the illusion that the stones are magically self-supporting. On the dial, a wafer-thin gold base is completely covered with 152 baguette-cut stones with no hour markers visible, even the Audemars Piguet logo and “Swiss Made” text are printed on the transparent sapphire crystal instead. This allows an uninterrupted view of gemstones across the entire watch.
A Spectrum of Rare Gemstones
Audemars Piguet did not settle for the usual suspects when choosing the rainbow’s palette. Of course, the three “queen” gemstones of the classic jewellery world are present: ruby, emerald and blue sapphire. But AP’s design team and gemologists went further, incorporating unconventional stones rarely seen in watchmaking to achieve the full spectrum. The ten gemstone varieties selected include also: Amethyst, Pink Tourmaline, Tanzanite, Yellow Chrysoberyl, Orange Spessartite, Blue Topaz and Tsavorite.
By combining familiar precious stones with more exotic gems like tsavorite (a rare green garnet) and tanzanite (a violet-blue gemstone from Tanzania), AP achieved a rainbow that is as surprising as it is vibrant. Through its choice of uncommon stones, Audemars Piguet showed its gemological ambition. Finding large quantities of top-quality, matching tourmalines or spessartites is no easy task, but it makes the final rainbow effect much more striking. The result is a harmonious yet unexpected spectrum: together, the ten watches create a perfect flow of colours, while each one stands out with its own story, shaped by the meaning and symbolism of its chosen gem.
Exclusivity and Collectability
Naturally, these extraordinary watches were never intended for mass production. Audemars Piguet created only two complete sets of ten, for a total of 20 pieces worldwide. In fact, each of the ten gem-colour references is a unique piece in its size (one 37 mm and one 41 mm per gemstone), so there is literally only one of each watch in existence. These were offered to extremely select clients, likely as complete sets and sold privately at “price on request” – which invariably signals a stratospheric figure.
How stratospheric? Reports suggest around $12 million per set. In other words, an AP Rainbow Royal Oak could be valued at over $1 million for each individual watch, multiplying the already high cost of gem-set watches by ten. This exclusivity places the Rainbow set among the most prestigious modern collectible watches.
For seasoned collectors, the investment potential of such pieces is implicit, even if AP prefers to speak in terms of artistry and heritage. Gem-set luxury watches have increased in popularity, boosted both by celebrities and influencers showcasing jewelled timepieces and by a growing appreciation for the craftsmanship behind them. We can safely predict that if any of the Rainbow Royal Oaks ever appear at auction, they will create an intense excitement.
In addition to these two sets created as special editions for the 50th anniversary, rumors suggest that, given the strong interest from Audemars Piguet’s top collectors, several more sets may have already been delivered, or are planned for delivery. Naturally, these would be produced in an extremely limited number, reserved only for those with truly exceptional collecting histories.
Conclusion
Ultimately, Audemars Piguet’s 50th Anniversary Rainbow watches are far more than dazzling showpieces. They embody the spirit of the Royal Oak across five decades: challenging limits and redefining expectations. The original Royal Oak broke convention by transforming a steel sports watch into a luxury icon. This jewelled anniversary edition breaks convention once again, elevating that icon into the stratosphere of artistry and extravagance.
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