AUDEMARS PIGUET 5548 YG Perpetual Calendar with Paper

Item Number: AP015

$31,924.18 AUD
Audemars Piguet
Quantième Perpetuel (Perpetual Calendar)
circa 1983
Automatic Cal.2120/2800
18K Yellow Gold
Black Leather Strap
Bracelet Length
Approx 18cm
Certificate of Origin(Sold in 1987), AP Signed Yellow Gold Buckle, Calendar adjustment instruction in Japanese, AP Setting Pin for Calendar adjustment 
The watch has been completely serviced by our watchmaker recently
1-year Mechanical Warranty by us
Global shipping via FedEx International Priority

*Due to Washington Convention, we cannot export Crocodile/Alligator leather overseas.

If you purchase from overseas, the strap will be replaced with a similar strap made of calf leather as an alternative.


Audemars Piguet is the oldest watch brand consistently run by the founding family since 1875.

It is sometimes abbreviated to AP from the initials Audemars Piguet.

Together with Patek Philippe and Vacheron Constantin, it is one of the world's three leading luxury watch brands.

This Ref.5548 is a perpetual calendar produced in the early 1980s.

Perpetual calendar is one of the three major complications in mechanical watches.

It is a very useful mechanism that determines the number of days in each month and the leap year, and displays the actual calendar correctly "forever" as long as the watch continues to run, without the need for manual correction until the year 2100.

In French, it is expressed as "Quantième Perpetuel", which is why it is sometimes abbreviated as QP and marked at the end of the caliber.

Ref.5548 was launched in 1978 and is one of the most important watches in Audemars Piguet's history.

It featured the ingenious design of a stepped bezel and the world's thinnest movement for a self-winding perpetual calendar then.

At the time, the world watch industry was undergoing rapid change with the advent of quartz watches.

The fact that Audemars Piguet presented a mechanical complication watch that went against the current of the times strongly impressed the company's commitment to the manufacture of high-end watches.

The Royal Oak is credited with saving Audemars Piguet during the quartz crisis, but this perpetual calendar also had a major impact on the company's stability.

The reference was changed to 25548 in 1984, and a total of 2183 pieces of this model were produced over a 13-year period until 1991, according to records.

The case size is 36 mm, which is very small for a watch with a complication.

The dial is a near pure white dial.

The main feature of this watch is that the lines of the various parts, such as the in-dial characters, are thin, so there are many elements in the dial, yet they are clean and clear.

The month, day, moon phase and day of the week are displayed clockwise from the 12 o'clock position.

There is no leap year indication.

There are subtle differences in Ref.5548 depending on when it was manufactured, but this one can be judged to be a later model from the indication SWISS MADE below 6 o'clock on the dial and the engraving on the caseback.

Later models were manufactured from 1982 until 1984, when the reference was switched to 25548.

The movement is a automatic Cal. 2120/2800.

The baseplate is stamped Cal.2120/2, and some dealers refer to it as Cal.2120 QP, but it is all the same movement.

It is based on the Cal.920 introduced by Jaeger-LeCoultre in 1967, and a perpetual calendar module added to it.

The Cal.920 was used by Audemars Piguet, Vacheron Constantin and Patek Philippe, which shows its high reputation.

The Cal.2120/2800 is very thin as a perpetual calendar movment, with only 3.95mm thickness.

The outer circumference of the rotor is made of 21K gold, showing the fine finishing of each part of the watch, befitting an ultra-luxury machine.

Comes with certificate of origin showing sold in 1987, the part of instruction in Japanese and AP setting pin.

[Payment Method]
1. Credit Card (Visa/Master/Amex)
2 Wire/Bank Transfer
*We have U.S bank account and European bank account. So you don't need to transfer internationaly.

Shipped via FedEx International Priority.
Normally,Item will be shipped in 1-2 working days after payment received.

Tracking number will be provided, and insurance will cover if the item is damaged or missing in the shipping process.

[Custom Duty]
International buyer has a responsibility to pay import duties, taxes or charges. (ex VAT/GST)

We do not accept to declare lower value on shipping label or invoice.We will declare full value of them.

If you would like to know how much it will be, please check approximate cost below.
Import Duty Calculator - SimplyDuty

These costs normally collected by courier when you pick up item or after your receive.

We accept return in the case of shipping mistake or item defect in 14 days after your receive.

  1. Can I check the actual item at the store?
    -Yes, You can check it at the store.

  2. Can I ask reserve the watch?
    -No, we do not reserve a watch until payment completed because we also sell our products on online store.

  3. Can you adjust my bracelet? 
    -Yes,If you indicate your approximate arm circumference when you place an order, we will adjust it and send it to you.
    (*Riveted bracelets and Folded bracelets need to be adjusted by our watchmaker, so please allow a little time for this.)

  4. How long does it take for "delivery after service"?
    -Please allow approximately 1month to 1.5 months from the time of order.
    (*It may take a little longer depending on the schedule of the wacthmaker and the number of customers.)

  5. Is there a payment deadline? (Bank transfer)
    -If we cannot confirm your payment within 2 days of your order, we will cancel your order.

  6. Can I order by cash on delivery?
    -No, we do not accept cash on delivery.
  7. Do you accept installment payments or BNPL(Buy Now Pay Later)?
    -No, We do not support installment payments or BNPL.
  8. Do you ship internationally?
    -Yes, we ship via FedEx International Priority.
    (*Customs duties and import taxes are the responsibility of the customer, so please pay them upon or before receiving the package.)
About Service
Service(Overhaul) is the process of disassembling a mechanical product down to its component parts, cleaning, and reassembling it to bring it back to the state of performance when it was new.

The overhaul procedure is roughly explained as follows
Separate the case and movement.
Disassemble the movement
Inspect each part for wear and tear and perform a preliminary cleaning.
Cleaning by a special machine
Lubrication and assembly
6. Water-resistance inspection (water-resistance function guaranteed)
7. Adjustment and running test
This is the process of the watchmaking process.

Some movements consist of several hundred parts, which are disassembled piece by piece, inspected, cleaned, and reassembled in an extremely precise process.

Without overhaul, just like a car, the oil deteriorates and the risk of wear and tear on the parts increases, causing a loss of precision or, in serious cases, the inability to run.

We recommend an overhaul every two to three years to ensure economical and long-lasting use of your watch.

About new finishing (polishing)

Vintage watches have been used for decades, and even the stainless steel used in many watches has become rounded at the corners, or has many small scratches on the surface that should be beautiful with a mirror finish.

At Albitro, we believe that our watches should be purchased in beautiful condition and used for a long time, so we sell them with a new finish.

Especially for dress watches with gold cases, we finish them to bring out the best of the precious metal case.

The watches sold at Albitro that have been newly finished are photographed in very high resolution, so you can see the edges are sharp and the mirror finish reflects the light.

Some cases and bracelets have a mixture of mirror and hairline finishes, but not many craftsmen are able to distinguish between them and finish them at a high level.

The "thinning of the case" is another area that is highly dependent on the skill of the craftsman. A watch with skinny lugs is far from its original design, and its appearance is unbalanced.

It is a very meticulous process to reduce the thinness of the case as much as possible while eliminating scratches and dents to bring the watch closer to its original finish.

Of course, in some cases, it is better to leave the watch in its original condition as it is, as it is the history of the watch and the original condition is important.

We look at each watch individually and decide whether it is best to finish it before selling it.

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