Audemars Piguet Royal Oak 5402 'Steel More Valuable Than Gold?'

Sold Outspan>
Sold Out


1974 Audemars Piguet “Steel More Valuable Than Gold?” Royal Oak 5402

A new product sets sail in uncharted waters. A radical design. A ridiculous price? 

This double-image, full-color ad in many ways can be thought of as a blueprint released to the public for a watch design we know all too well today. But forty-five years ago, the angles, dimensions, assembly and spirit needed to be shown off - and explained - to get it sold.

This ad magnificently captures the glint of the integral bracelet and refractions of light off the bezel. The tapisserie dial, applied “AP” at 6-o’clock and those bolts (even the crown) are on full, factory-spec display here. Decades before any scholarship or reference books existed on the Reference 5402, this ad was your guide.

If you’re curious, the suggested retail price of £756 was the equivalent of $1600 back in 1974.

This is an exceedingly difficult ad to track down, especially in very-good condition. It is a prized piece of horological history that can be appreciated by watch lovers, whether they own an Audemars Piguet or not. 

Framed with entire page “floating” mounted on off-white background with matching, thick-ply matting to compliment tones of paper. Black, solid wood frame.

About our collaboration with Ad Patina

We're thrilled to be collaborating with our longtime friends at Ad Patina to bring you a selection of the most-popular and rare vintage watch advertisements curated specifically for Analog/Shift!

Scouring the world for forgotten marketing treasures, Ad Patina's raison de être very much mimics our own - to hunt down these wonderful bits of history, preserve and restore them as needed, and share them with an enthusiastic community.

These documents of horological history have entered the watch collecting conversation as the ultimate accompanying accessory, and have found themselves framed in homes and offices around the world. Every one of these wonderful pieces is a genuine, vintage advertisement that has been professionally mounted and framed with UV resistant glass to ensure years of enjoyment to come - no reprints or reproductions here!

Much like a traditional piece of art - a painting or photograph - an original watch advertisement can be appreciated for its design as well as for its power to evoke nostalgia.

Something we vintage watch enthusiasts know all about!

A:S Guarantee


Our Pledge

Analog:Shift stands behind the authenticity of our products in perpetuity.


Since our pieces are vintage or pre-owned, please expect wear & patina from usage and age. Please read each item description and examine all product images.


We back each Analog:Shift vintage timepiece with a one-year mechanical warranty from the date of purchase.

International Buyers

Please contact us prior to purchase for additional details on shipping and payment options.

Shipping & Returns


All of our watches include complementary insured shipping within the 50 states.

Most of our products are on hand and will ship directly from our headquarters in New York City. In some cases, watches will be shipped directly from one of our authorized partners.

We generally ship our products via FedEx, fully insured, within 5 business days of purchase. An adult signature is required for receipt of all packages for insurance purposes. Expedited shipping is available at an additional cost. We are also happy to hand deliver your purchase in Manhattan or you may pick it up at our showroom.

Returns must be sent overnight or by priority international delivery, fully insured and paid for by the customer. A restocking fee may apply. Watches must be returned in the same condition as initially shipped.

We welcome international buyers, please contact us prior to purchase for additional details on shipping and payment options.


Thank you for your interest in the Audemars Piguet Royal Oak 5402 'Steel More Valuable Than Gold?'. Please fill out the form below and we will get back to you shortly.