Introduction
Widely renowned for the ever-iconic Royal Oak, Audemars Piguet’s prestigious history as one of the finest watchmakers on Earth is often overlooked in favor for the avant-garde design language they have recently begun to explore. Outside of their modern offerings, some of AP’s vintage and neo-vintage timepieces exercise traditional watchmaking, stunning designs, and awe-inspiring craftsmanship, much like the Quantième Perpétuel Automatique ref. 25681OR that we have here. Released in 1989 and quickly discontinued in 1991, the ref. 25681 saw the production of 123 units join its ranks with metals like 18k yellow gold, platinum, and 18kt rose gold, of which there are only 28 examples, one of which we present here. Classically designed, but with AP’s avant-garde flair, the ref. 25861OR’s 36mm case includes a traditional stepped bezel, short downturned lugs, and thin, elegant case proportions. However, its most distinctive feature is its clover-shaped display, for which it is aptly named after. Featuring four subdials for its perpetual calendar display, it boasts a day, date, and month subdials and a moon phase subdial at 6 o’clock for a satisfying aesthetic to round off its incredible design. Powered by the automatic cal. 2120 movement, the ref. 25681 uses Jaeger LeCoultre’s iconic ultra-thin cal. 920 base movement, which AP shared with Vacheron Constantin, Patek Philippe, and others.
Loupe This Scorecard
Grade
M 8.5
Status
Vetted & Approved
Included
Watch Only
Est. value range
$40,000 – $60,000
The Details
Brand
Audemars Piguet
Dimensions
36mm
Model
Quantieme Perpetuel "Clover"
Movement
Automatic cal. 2120/1
Reference
25681OR
Bracelet
Leather strap
Year
Circa 1990s
Condition
Excellent
Material
18kt rose gold
Included
Watch only
Dial Color
Silver

THE DIAL
Giving the watch its distinctive aesthetic, the ref. 25681's quartet of perpetual calendar subdials creates the clover shape, which the model is named after and known for.

THE CONSTRUCTION
One of only 28 examples ever made in 18kt pink gold, the ref. 25681OR that we have here is a rare variant of an already elusive and tremendously rare watch, with its bezel markings creating the hour markers that inform its normal time-telling functions.

TIMING MACHINE READOUT
This reading was taken (crown down) with a ONEOF Accuracy Boutique Edition timing machine at time of cataloging. It is provided as a courtesy only, and shall not be construed as a warranty or guarantee of any kind. Please refer to our terms and conditions of sale for more information.
Condition
Watch is in overall excellent condition. The rose gold case shows surface scratches to the front, while the case back retains well-defined engravings and hallmarks. The correctors on the case sides show signs of use. The four sub-dials show light surface marks around the edges, while the blued calendar hands and black central hands remain very clean. It is fitted with a black crocodile strap in very good condition and a yellow gold Audemars Piguet deployant clasp showing light surface marks.
Please Note: Due to CITES considerations, if the watch is to be shipped outside of the USA, the exotic skin strap will have to be removed.
Our Perspective
Tremendously rare (and cool), these Clover QPs are beginning to garner the interest and attention they deserve, and so we are delighted to have one here at Loupe This.















