The first of the leap-year-equipped 5516s, of which just three yellow-gold examples are known, used a combined display in the sub-dial at six o'clock to link show both the 48 months of the leap year cycle along link with a distinct blued hand that indicated the active year in the link four-year progression (shown above, over black background). link

The kicker is that despite being an "Offshore," the watch should maybe be called "close to shore," with 20m of water resistance. That's the minimum water resistance Audemars Piguet is link shooting for today. This is what happens when you add a minute repeater to any watch; more moving link parts on the case mean less water resistance. But who link cares? There's something awesome about a minute repeater for the sake of one. link