Rolex GMT-Master II

The GMT-Master II from Rolex is considered by collectors, watch fans, and investors to be one of the most attractive timepieces with a GMT function. The watch replaced the original 1955 GMT-Master in 1982 and has been an integral part of the Rolex catalog ever since. Along with a slightly modified case design and a sapphire crystal, the biggest difference from its predecessor is the ability to set the hour hand independently of the GMT hand. In combination with the 24-hour bezel, up to three time zones can be displayed simultaneously.

Depending on your personal taste and how much you're willing to invest, you can choose between versions in stainless steel, white or Everose gold, or two-tone "Rolesor" models. A similarly wide range of bezel color combinations is available. Along with the traditional red and blue "Pepsi" bezel, the GMT-Master II is also available with a red and black "Coke" bezel or the extremely popular "Batman" bezel in blue and black. In recent years, models with a brown and black bezel, a black and gray bezel, and a green and black bezel have been added to the line. Since 2007, the bezels have been made of Cerachrom, Rolex's proprietary high-tech ceramic.

When it comes to choosing a power source, Rolex relies on its in-house calibers, which are certified as chronometers by the COSC. Since the late 1950s, all Rolex movements have been subjected to a series of internal tests. Those that pass are particularly accurate and earn the designation "Superlative Chronometer."

Due to strong demand, virtually all variants of the GMT-Master II experienced strong appreciation through mid-2022. Since then, however, prices have consolidated at a somewhat more realistic level, which makes it possible to enter the market at a more reasonable price.

As of early 2023, official list prices for new Rolex GMT-Master II models ranged from 12,400 to nearly 50,000 USD. However, since new watches are only available from authorized Rolex dealers – with sometimes very long wait times – it’s worth taking a look at the open market. You’ll have to buy at a premium, but models on the secondary market are normally available immediately.

What’s the most affordable GMT-Master II?

The most affordable entry into the world of the Rolex GMT-Master II in January 2024 was the with ref. 16760 "Fat Lady," which changes hands on Chrono24 for roughly 16,700 USD.

If you’d prefer a modern GMT-Master II in stainless steel with a ceramic bezel, take a look at ref. 116710LN with an all-black bezel. In mint condition, this model costs a good 16,700 USD. You can buy an unworn GMT-Master II “Batman” with a blue and black rotating bezel from around 17,200 USD. For a current GMT-Master II with the classic "Pepsi" bezel, such as ref. 126710BLRO, you should plan to shell out about 23,400 USD. The green and black left-handed “Sprite” ref. 126720VTNR is slightly more affordable, at approximately 20,800 USD.

What’s the most expensive GMT-Master II?

The most expensive and rarest GMT-Master II is the ref. 116769TBR, also known as the Rolex GMT-Master Ice. The case and bracelet of this watch are in white gold and entirely set with diamonds. The same goes for the dial. The price for this dazzling piece of jewelry: just under 730,000 USD.

If you can do without diamonds, the GMT-Master II in yellow, white, or rose gold is available for between 46,000 and 64,000 USD. Rose gold models with brown and black bezels, such as ref. 126715CHNR, occupy the lower end of the price spectrum. At upper end you’ll find the “Pepsi” variant in white gold with a meteorite dial (ref. 126719BLRO).

Pre-Owned Rolex GMT-Master II Prices

On average, you can save between 5% and 10% by buying a pre-owned Rolex GMT-Master II watch on Chrono24 rather than an unworn model. However, there are some exceptions where saving can be significantly more. One example is ref. 116710LN with a black bezel. Here, worn specimens are a good 30% cheaper than unworn ones.

Rolex GMT-Master II Price Performance

There has been a slight drop in the price of a GMT-Master II on the open market since the summer of 2022. Previously, prices had sometimes soared to staggering heights. At the beginning of 2024, prices were roughly where they were two years ago.

Rolex offers an astonishing array of variation within the GMT-Master II collection. For example, you can choose between right- and left-handed models and various bracelet options, as well as different color and material combinations.

GMT-Master II “Fat Lady” and Other “Coke” Models

Those on the market for a vintage GMT-Master II should be on the lookout for the ref. 16760. Rolex only produced this watch – the first in the collection – from 1983 to 1988. The model, known popularly as the "Fat Lady," is slightly larger than that of a standard GMT-Master due to the caliber 3085 inside. Rolex used this movement in early variants of the GMT-Master II and in the Explorer II.

The "Fat Lady" is available exclusively in stainless steel, with an aluminum bezel in the "Coke" color combination, i.e., red and black. The successor model with the reference number 16710 also offers buyers a choice of a red and blue or black bezel. Variants in yellow gold (ref. 16718) and two-tone models (ref. 16713) are also available.

GMT-Master II "Pepsi" in White Gold or Stainless Steel

So you like the classic Rolex Pepsi look but aren't interested in a vintage watch? Then you should take a closer look at ref. 116719BLRO. While it shares with its historical predecessors a red and blue color scheme, its bezel is made of scratch-resistant ceramic instead of aluminum. This watch gets its power from the Superlative Chronometer caliber 3186 and has a 48-hour power reserve. The case and bracelet of this model are made of white gold.

The ref. 126719BLRO introduced in 2019 is also made of white gold. The manufacturer claims that the material used for the dial comes from an asteroid, or maybe even from an exploded planet.

If you don't want white gold watch or a meteorite dial, but like the look of the white gold version, the technically identical stainless steel ref. 126710BLRO is the watch for you. This watch is available with either a five-link Jubilee bracelet or the Rolex Oyster bracelet.

The Blue and Black GMT-Master II Batman

There are two different version of the Rolex Batman, the ref. 116710BLNR and the ref. 126710BLNR. The former was produced by Rolex between 2014 and 2019 and is powered by the brand's in-house caliber 3186, which offers a 48-hour power reserve.

While 2019 marked the end of ref. 116710BLNR, it also saw the introduction of ref. 126710BLNR. This newer GMT-Master II Batman is almost identical to its predecessor. However, there are two major differences: One is that the current reference is available on a Jubilee or Oyster bracelet. The other is inside the case, with the caliber 3285 replacing the 3186. This upgraded movement boasts a longer power reserve of 70 hours.

For Lefties: The Black and Green GMT-Master II "Sprite"

Rolex surprised its fans in 2022 with an extraordinary GMT-Master II. The ref. 126720VTNR stands out with two special features. The most noticeable is that the crown and date display are on the left-hand side of the watch. This makes it the very first Rolex watch produced for left-handed wearers.

The color scheme of the bezel is also new. For the first time, the manufacturer used a combination of black and green ceramic, which earned the timepiece the nickname Rolex "Sprite".

GMT-Master II: Two-Tone and Solid Gold Editions

Rolex also produced the original Rolex GMT-Master in two-tone and solid gold versions. The Rolex GMT-Master II is no different: it's available in yellow, white, or Everose gold, and in two-tone combinations of yellow gold and stainless steel or Everose gold and stainless steel. Rolex calls the latter two-tone versions "Rolesor" models. The manufacturer has been using this combination of materials since the early 1930s.

In 2018, Rolex presented fresh new editions in Everose gold and stainless steel (ref. 126711CHNR) and 18-karat Everose gold (126715CHNR). Both models feature a black and brown Cerachrom bezel and are powered by the caliber 3285. They succeed the GMT-Master II ref. 16713, known as the "Rolex Root Beer," which had a brown and beige bezel.

Rolex presented the ref. 126718GRNR in 18-karat yellow gold, on a Jubilee bracelet, at Watches and Wonders 2023. The most striking feature of this watch is its ceramic bezel in the new black and gray color combination. Reference 126713GRNR is a new Rolesor GMT-Master II, also with a black and gray bezel.

Stainless Steel Models With Black and Gray Bezel

Rolex introduced the black and gray GMT bezel to stainless steel watches in Watches and Wonders 2024. These watches bear the reference number 126710GRNR and are technically identical to other models. The GMT hand and the GMT-Master II lettering above the 6 o'clock position offer a little flash of color: Rolex has chosen a bright green for both.

The GMT-Master II ref. 126710GRNR is available with a three-link Oyster or five-link Jubilee bracelet.

What's the wait time for a Rolex GMT-Master II?

The wait for a stainless steel Rolex GMT-Master II at an authorized dealer can be anywhere from six months to two years. You should expect a waiting period of three years or more for a gold model. You can get the watch on marketplaces such as Chrono24 without any waiting time, albeit at an additional cost.

Is the Rolex GMT-Master II still in production?

The Rolex GMT-Master II has been part of the Rolex product portfolio without interruption since 1982. By the end of 2023, the collection consisted of twelve models in stainless steel, gold, and two-tone gold and steel, including the current stainless steel Pepsi ref. 126710BLRO.

What's the most famous GMT-Master II?

In addition to versions with the traditional Pepsi bezel, the GMT-Master II Batman, with its blue and black bezel, and the GMT-Master II Fat Lady, with its Coke bezel, are particularly well known. The GMT-Master II Sprite, designed for left-handers, also quickly made a name for itself with its green and black bezel.