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Here's how I feel about this. If #2 is actually an option (keep them both and buy the AP with other funds), then to me there's no reason to rush into dumping both your Hublots. Hublot is by no means a brand I love, but you said it yourself, you stand to lose money on selling them.
If you can afford it, why not go with option 4, keep your favorite Hublot, outright buy the AP, and if in 6 months the Hublot is still not your cup of tea, sell it. Be patient and try to get your asking price!
Good luck.
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