diff --git a/builtin/replay.c b/builtin/replay.c
index 524bf96ffd..9265ebcd05 100644
--- a/builtin/replay.c
+++ b/builtin/replay.c
@@ -192,7 +192,6 @@ static void set_up_replay_mode(struct repository *repo,
 		if (!*advance_name)
 			BUG("expected either onto_name or *advance_name in this function");
 
-		*onto = peel_committish(repo, *advance_name);
 		if (repo_dwim_ref(repo, *advance_name, strlen(*advance_name),
 			     &oid, &fullname, 0) == 1) {
 			free(*advance_name);
@@ -200,6 +199,7 @@ static void set_up_replay_mode(struct repository *repo,
 		} else {
 			die(_("argument to --advance must be a reference"));
 		}
+		*onto = peel_committish(repo, *advance_name);
 		if (rinfo.positive_refexprs > 1)
 			die(_("cannot advance target with multiple sources because ordering would be ill-defined"));
 	}
diff --git a/t/t3650-replay-basics.sh b/t/t3650-replay-basics.sh
index cf3aacf355..8ef0b1984d 100755
--- a/t/t3650-replay-basics.sh
+++ b/t/t3650-replay-basics.sh
@@ -51,6 +51,13 @@ test_expect_success 'setup bare' '
 	git clone --bare . bare
 '
 
+test_expect_success 'argument to --advance must be a reference' '
+	echo "fatal: argument to --advance must be a reference" >expect &&
+	oid=$(git rev-parse main) &&
+	test_must_fail git replay --advance=$oid topic1..topic2 2>actual &&
+	test_cmp expect actual
+'
+
 test_expect_success 'using replay to rebase two branches, one on top of other' '
 	git replay --ref-action=print --onto main topic1..topic2 >result &&