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Rolex GMT-Master II: An Icon With Three Time Zones

The Rolex GMT-Master II may just be the most famous watch with a GMT complication. Many models are highly sought after and thus rising rapidly in value. This makes the Rolex GMT-Master II quite an attractive alternative form of investment.

By Chrono24

Popular GMT Watch for Globetrotters

Collectors, watch enthusiasts, and investors agree that the Rolex GMT-Master II is one of the finest watches with a GMT function. Depending on your personal taste and how much you are willing to invest, you can choose between steel watches, two-tone "Rolesor" editions, and timepieces in Everose (rose) or white gold.

The bezels come in a variety of colors, with red and blue being perhaps the most famous color combination. Known as the "Pepsi," this design dates back to 1954. Other models also have fitting nicknames, including the red and black Rolex Coke and black and blue Rolex Batman. The bezels have been made of Cerachrom, Rolex's proprietary high-tech ceramic, since 2007.

Rolex caused quite the commotion in 2022 when they unveiled a brand new GMT-Master II model designed especially for lefties. This watch has a green and black bezel, and the crown and date display are on the left side of the case.

Rolex kept the ball rolling in 2023 with the launch of two new GMT-Master II models. The first is the ref. 126718GRNR, an 18-karat gold timepiece on a matching bracelet. The second model, the ref. 126713GRNR, is crafted from Rolesor, Rolex's blend of Oystersteel and yellow gold. Both versions feature a black and gray ceramic bezel.

When it comes to choosing a power source, Rolex turns to their in-house calibers, which come with chronometer certification from COSC. As of the late 1950s, all Rolex movements also go through a series of internal tests. Those that pass are especially precise and earn the designation "Superlative Chronometer."

Due to the strong demand, practically all variants of the GMT-Master II saw a strong value increase up to mid-2022. Market values have since cooled down, making it a great time to buy.

Reasons to Buy a Rolex GMT-Master II

  • Excellent prospects in terms of value appreciation
  • Popular models such as the Rolex Batman are good investments
  • Displays up to three time zones
  • With a scratch-resistant Cerachrom ceramic bezel since 2007
  • Highly precise, in-house calibers with COSC certification

Price Overview: Rolex GMT-Master II

Reference number Price (approx.) Features
126719BLRO 47,000 USD White gold, red and blue ceramic bezel, meteorite dial
116719BLRO 50,000 USD White gold case, red and blue ceramic bezel
116718LN 46,000 USD Yellow gold, black dial, black ceramic bezel
126715CHNR 47,000 USD Everose gold, brown and black ceramic bezel
126718GRNR 38,900 USD (list price) Yellow gold, black and gray ceramic bezel, Jubilee bracelet
126720VTNR 26,000 USD Stainless steel, green and black bezel, left-handed watch
126711CHNR 23,000 USD Rolesor, brown and black ceramic bezel
126710BLRO 22,500 USD Stainless steel, red and blue ceramic bezel, Jubilee bracelet
126710BLNR 19,500 USD Stainless steel, blue and black ceramic bezel, Jubilee bracelet
116710BLNR 19,500 USD Stainless steel, blue and black ceramic bezel
16710 19,500 USD Stainless steel; aluminum Coke, Pepsi, or black bezel
116710LN 18,500 USD Stainless steel, black ceramic bezel
126713GRNR 16,450 USD (list price) Rolesor, black and gray ceramic bezel, Jubilee bracelet
16760 "Fat Lady" 16,500 USD Stainless steel, red and black aluminum bezel

How much does a Rolex GMT-Master II cost?

As of April 2023, the most affordable Rolex GMT-Master II is the "Fat Lady" ref. 16760 for around 16,500 USD. This model has retained its value well over the last few years.

If you are interested in a modern GMT-Master II with a completely black ceramic bezel, check out the ref. 116710LN. This timepiece costs around 18,500 USD in mint condition. In April 2022, it was being traded for 22,500 USD.

The GMT-Master II models in precious metals perform differently on account of the current gold prices. The ref. 116719BLRO, which features a white gold case, changes hands for around 50,000 USD. In mid-2022, however, you would have had to invest around 57,000 USD in this watch.

The most phenomenal price jump was made by the yellow gold ref. 116718LN with a green dial, which now demands close to 64,000 USD in excellent condition. In April 2022, this watch was selling for a staggering 89,000 USD. Despite this steep loss, the reference is actually a great performer: in the spring of 2020, it was available for "only" 38,000 USD.


About the GMT-Master II "Fat Lady"

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. Its case is slightly larger than that of a standard GMT-Master due to the caliber 3085, which also appears in early Explorer II models. Fans swiftly nicknamed this GMT-Master II the "Fat Lady" as a result. The "Fat Lady" is only available with a Coke – or red and black – bezel. Never-worn pieces cost around 16,500 USD, while pre-owned pieces change hands for only slightly less at 15,500 USD.


GMT-Master II Pepsi in White Gold or Stainless Steel

If you like the classic Rolex Pepsi design but are not interested in vintage watches, you're sure to enjoy the ref. 116719BLRO. Rolex manufactured this model from 2014 to 2018. While it shares its red and blue color scheme with many of its historical predecessors, 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.

Rather than stainless steel, Rolex chose white gold for the case and bracelet. The change to this precious material is felt in the wallet. Expect to pay around 45,000 USD for a pre-owned for a copy of the blue dial version and 60,000 USD for a mint-condition model.

If you're happy with a black dial, prices will be more favorable. Pre-owned and new copies come in at 42,000 and 50,000 USD, respectively. This version, however, has experienced significantly more turbulent price trends than the blue dial variant; prices for new models had reached 57,000 USD in April 2022.

Introduced in 2019, the ref. 126719BLRO is also made of white gold, but features a meteorite dial with a fantastic story: The manufacturer claims that the dial material comes from an asteroid or perhaps even an exploded planet. You can call this galactic GMT-Master II your own for about 60,000 USD pre-owned or around 65,000 USD new. This model is now much more affordable than it was in April 2022, when it was selling for an eye-watering 99,000 USD.

Owning a GMT-Master II doesn't have to break the bank, though. If you can do without white gold and a meteorite dial, Rolex also offers a technically identical model in stainless steel. This watch, the ref. 126710BLRO, comes on a five-piece link Jubilee bracelet or an Oyster bracelet. You can find this watch on Chrono24 in new condition for around 22,500 USD, while pre-owned pieces are only slightly more affordable at around 21,000. This model also requires a much smaller investment than in mid-2022.


The Blue and Black GMT-Master II Batman

There are two Rolex "Batman" references: the ref. 116710BLNR and ref. 126710BLNR. Rolex produced the 116710BLNR between 2014 and 2019. It uses the Rolex in-house caliber 3186, which has a 48-hour power reserve.

When Rolex discontinued this model in 2019, prices exploded. In April 2022, you would have had to invest 24,000 USD in a mint-condition copy. One year later, however, prices had dropped to 18,500 USD. Pre-owned timepieces change hands for around 17,000 USD.

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

Due to high demand, you will most likely have to spend years waiting to buy one of these timepieces from an authorized dealer. You can get your watch much more quickly online, though it will come at a significant markup. This model costs around 19,500 USD new, while pre-owned versions sell for about 1,000 USD less. For comparison: this watch demanded almost 27,000 USD new in April 2022. Both prices are much higher than the manufacturer's suggested retail price of 10,750 USD.


For Lefties: The Black and Green GMT-Master II

Rolex surprised fans in 2022 with an unusual GMT-Master II. This new model, the ref. 126720VTNR, is remarkable for two special features. The most noticeable is that the crown and date display are on the left-hand side of the watch, making it the very first Rolex watch for lefties. The color scheme of the bezel is also a novelty, with the manufacturer using a combination of black and green ceramic for the first time.

This watch uses the same caliber as the rest of the GMT-Master II models. Rolex's MSRP for the ref. 126720VTNR is 11,250 USD, but listings on Chrono24 sit closer to 26,000 USD. While prices on the secondary market are over double the watch's list price, sellers were initially asking for north of 60,000 USD. Its value has decreased significantly since then, so anyone who did buy the timepiece shortly after its release now has to come to terms with a loss of over 30,000 USD.


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

Early versions of the GMT-Master were available in two-tone and solid gold designs. The same is true of the GMT-Master II: The bracelet comes in your choice of stainless steel, yellow gold, white gold, or Everose gold or a combination of stainless steel and yellow or Everose gold. Rolex calls the latter two-tone models "Rolesor." The manufacturer has been using this combination of materials since the early 1930s.

In 2018, Rolex presented an Everose gold and stainless steel edition (ref. 126711CHNR) as well as one in solid 18-karat Everose gold (ref. 126715CHNR). Both models feature a black and brown Cerachrom bezel and are powered by the caliber 3285. Prices dropped considerably between April 2022 and April 2023, meaning you can now purchase the two-tone variant for about 23,000 USD new and 21,500 USD pre-owned.

If you're interested in the 18-karat gold version, expect to spend around 47,000 USD on a new copy. Opting instead for a pre-owned model will only save you around 2,000 USD. It's worth noting that in April 2022, prices almost broke 70,000 USD.

At Watches and Wonders 2023, Rolex unveiled two new GMT-Master II models. The first is the ref. 126718GRNR, an 18-karat yellow gold watch paired with a Jubilee bracelet. The most distinctive feature of this timepiece is its black and gray ceramic bezel. At the time of writing in April 2023, this model was not yet available on the Chrono24 marketplace. The MSRP is 38,900 USD.

The second new release is the Rolesor ref. 126713GRNR. Rolex lists this timepiece for 16,450 USD.

COSC-Certified: The In-House Caliber 3285

The automatic caliber 3285 ticks away inside current GMT-Master II models. Its rotor winds the spring bidirectionally. Like all other Rolex sports watches, the movement is located behind a screw-down case back. It ticks at 28,800 vibrations per hour (vph) and has a 70-hour power reserve.

Everything about the 3285 is of the highest quality, including its balance bridge, red anodized minute wheels, and free-sprung blue Parachrom hairspring. The hairspring is made of a niobium-zirconium alloy that is impervious to magnetic fields. Working together with the balance wheel, this creates an auto-compensating system, meaning the frequency stays consistent even under fluctuating temperatures.

High-precision regulation occurs via Microstella nuts on the balance wheel. Using a special tool, you can regulate the watch without disassembling it. The designers decided against the usual method of regulating the watch via a regulator. Like every Rolex movement, the caliber 3285 comes with a certificate from the Official Swiss Chronometer Testing Institute (COSC). Furthermore, this movement has passed Rolex's own internal tests, earning it the distinction of "Superlative Chronometer."