Name: Rolex GMT-Master II "Coke" (Vintage Steel) 16700
Brand: Rolex
SKU: 16700

The GMT-Master 16700 is the last single-crown steel GMT with the original Pepsi bezel configuration, produced from 1989 until Rolex retired the GMT-Master line in 1999 and consolidated to the GMT-Master II. It uses caliber 3175, a date-equipped movement with an independently-settable 24-hour hand, making it a genuine two-timezone tool watch rather than the simplified quick-set variant found in the 16760 and later II models.

What it is

The 16700 replaced the 16750 in 1989, carrying over the 40mm Oyster case and aluminium black/red "Pepsi" bezel while adopting the updated caliber 3175. Production ran ten years, ending in 1999 when the GMT-Master II 16710 became the sole steel GMT offering. Dial variants include glossy and matte finishes across the production run; later examples typically show the "Swiss Made" text at 6 with improved printing.

The aluminium bezel insert fades and scratches with wear, and original unpolished examples with intact bezel color are increasingly hard to source.

Buying notes

Check the bezel insert closely: original red/blue aluminum fades unevenly with age, and replacement inserts usually show overly saturated, uniform color. Lug condition is critical, over-polished cases lose the sharp chamfer between the top and side of the lug, which cannot be recovered without adding metal. The bracelet should be an Oyster 78360 with 501B end links for a period-correct fit; aftermarket or later bracelets are common and affect value.

Confirm the GMT hand is original and properly timed against the 24-hour scale, as mismatched or replaced GMT hands appear on heavily-serviced examples. Service history matters here because the 3175 requires full disassembly to regulate the GMT hand independently, and poorly-done services are not uncommon.

Market read

The 16700 trades at a discount to the 16710 GMT-Master II despite being rarer and the last of the original GMT line, largely because collectors associate the II with "better" mechanics. Full-set examples with original punched papers from the late 1990s carry a real premium over watch-only sales. Glossy-dial late-production examples from 1996 onward have started to pull slightly ahead of the earlier matte-dial variants.

The market is relatively thin compared to the Submariner references, so pricing can swing materially between auction cycles.

Service expectations

Caliber 3175 is a sturdy movement with no known chronic failure points, though the date and GMT complication add parts count relative to the base 3135. Service intervals of 7 to 10 years are appropriate, and a full service from an independent watchmaker with documented caliber experience runs roughly $400 to $700. A recent service with receipts is a genuine value-add on a reference where movement condition is harder to assess without paperwork.

Editorial copy is AI-drafted from primary sources and reviewed by Grail Atlas before publication. Where the text is uncertain about a fact, it says so. Email corrections@grailatlas.com if something reads wrong. Signals on this page (community, OSINT) are clearly separated from the editorial sections.

Uncommon#3 in familyOfficial press photos

Originality

Originality matters on this reference. An original dial and hands command a significant premium. Service replacements typically trade at a 20-40% discount to original examples.

Live pricing is coming soon. Get notified when it is available for this reference.

In-house manufacture caliber · caliber Rolex Cal. 3085: in-house automatic GMT, 19,800bph, 48h PR, 31j; used in GMT-Master 16700; predecessor to 3185; 24-hour hand independently set · 48h power reserve (2 days)

Medium-large: suits wrists 6.5 in+ (16.5 cm+)

40 mm case. Wears confidently on average to larger wrists. May overhang on slender builds.

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Authentication

The vintage 16700 Coke GMT is a legitimate service-aged reference; the aluminium bezel insert fading pattern, Cal. 3085 movement, and absence of rehaut engravings are key authentication anchors.

Known issues in the market

Aluminium bezel inserts on the 16700 fade naturally; a perfectly vivid insert on a 25-year-old watch may indicate replacement, which is not a fake but should be disclosed.
Cal. 3085 is the correct movement; the later Cal. 3186 (used in 116710-generation references) is an incorrect swap that is detectable by a watchmaker.
Rehaut (inner bezel ring) engravings are absent on the 16700; the engraved rehaut was introduced with the 116710 generation; a rehaut with "ROLEX ROLEX" engravings indicates a wrong-generation case.
Gilt dial variants from early 16700 production (circa 1988) are high-value; their rarity makes misrepresentation as ordinary sigma-dial examples a known issue.
The 16700 has an aluminium insert, not ceramic; a ceramic insert indicates the watch has been converted or the bezel replaced with a later-generation part.

Area	What to check	What is correct	Red flag
case	Rehaut inner ring absence	Plain polished metal rehaut (inner bezel ring) with no engravings; serial number engraved between the lugs at 6 o'clock (not on the rehaut)	"ROLEX ROLEX" repeated text on the rehaut; any engraving on the rehaut ring indicating a later-generation case
case	Bezel insert material (aluminium)	Aluminium bi-color insert with red upper half and black lower half; slightly raised surface vs. the bezel ring; surface shows patina and micro-scratches consistent with age	Ceramic insert (smooth, scratch-resistant surface); glossy vivid color inconsistent with claimed age; insert that sits flush rather than slightly proud
movement	Cal. 3085 movement identity	Cal. 3085 at 19,800bph; 48-hour power reserve; quick-set date function; three-piece caseback reveals movement to a watchmaker; "Rolex" signed rotor	Cal. 3186 (wrong generation; identified by Paraflex shock absorbers); Cal. 3135 (non-GMT, missing the GMT complication); any non-Rolex movement
dial	Dial text and printing generation	"Swiss Made" at 6 with standard Rolex font; sigma symbol on some dials indicating solid gold indexes; early gilt dials have a warm yellow tint to text and luminous material	Text font that matches current-generation Rolex printing; no sigma symbol on claimed sigma-dial example; "Swiss" without "Made" (very early pre-16700 format)
crown	Triplock crown seal	Three dots on crown face consistent with 16700 water resistance rating; crown screws down smoothly; no modern Twinlock crown (two dots) substituted	Two-dot Twinlock crown (incorrect for this reference); crown that cross-threads or feels loose
bracelet	Oyster bracelet and clasp generation	Correct-generation Oyster bracelet with flip-lock clasp; solid end links; clasp references should be consistent with 1988-2000 production; some stretch on original bracelets is expected	Glidelock clasp (introduced post-16700; modern upgrade); wrong clasp generation; hollow-sounding center links indicating aftermarket bracelet

Common legitimate replacements

Aluminium bezel inserts are frequently replaced on this reference due to fading; replacement is not fraudulent but the original insert color is a condition factor.
Bracelets on vintage Rolex references are commonly replaced with correct-generation OEM parts; an original, unstretched bracelet commands a meaningful premium.
Service history including seal replacements and gasket work is expected and normal on a 25-35 year old reference.

Expert resources: VintageRolex.org and the TimeZone vintage forum are the primary collector resources for 16700 authentication. A Rolex-authorized watchmaker can identify Cal. 3085 and verify service history.

Authentication guide

Last reviewed June 2026

The 16700 ran from 1989 to 1999 on Cal. 3175 and is the last GMT-Master before the ceramic-bezel GMT-Master II era. Parts substitution, especially bezel inserts and bracelets, is the primary authentication risk. Outright fakes are less common than mixed-parts examples.

Known reproduction risks

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MEDIUM

Mixed-parts examples with non-original bezel inserts, particularly Pepsi inserts swapped from one variant to another or new-old-stock inserts presented as original.

Bezel insert aging inconsistent with the case and bracelet wear level
Insert color fading pattern that does not match the asymmetric Pepsi aging pattern on original examples
Insert fit that shows any play or gap at the bezel edge

LOW

Outright replica 16700 watches. Less common than parts substitution given the price point relative to the manufacturing investment required.

Case lug geometry that does not match known 16700 production proportions
Serial stamping depth or character spacing inconsistent with genuine Rolex production from this era
Movement that is not Cal. 3175 (incorrect GMT function or incorrect date quickset mechanism)

Dial variants by era

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Era	Description	Identifiers
1989 to 1999 (Pepsi)	Black dial with red/blue aluminum Pepsi bezel. The most common and most desirable 16700 variant.	Black dial with white applied hour markers Red/blue aluminum bezel insert -- red occupies the AM hours (roughly 6 to 18 on the 24-hour scale), blue the PM hours "GMT-Master" text on the dial, no "II" designation "Superluminova" lume in plots and hands on later examples; tritium on earliest 1989 to ~1991 production "Swiss Made" or "T Swiss T" at 6 o'clock depending on production year
1989 to 1999 (black bezel)	Black dial with all-black aluminum bezel. Less common than Pepsi; commands a slight premium among collectors who prefer the cleaner look.	Black dial with black aluminum bezel insert throughout Otherwise identical to the Pepsi variant in case and movement Bezel insert aging: black inserts can fade to a dark gray in heavily worn examples
1989 to 1999 (Coke -- rare)	Black/red "Coke" bezel configuration: black outer ring with red fill in the AM hour section. Significantly rarer than Pepsi.	Bezel with black outer portion and red fill for the AM hours -- not the full red/blue split of the Pepsi Same black dial and case as the standard variants Original "Coke" bezels are well-documented; any claimed Coke insert should be compared against verified examples

Service part flags

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Bezel insert

Original: Aluminum insert with 24-hour scale and color fill applied. The red section of Pepsi inserts fades more aggressively than the blue section due to the dye chemistry used by Rolex at this production period. Original inserts on heavily worn cases show noticeable red-section fading while the blue retains more of its depth.

Replacement tells

Uniformly bright red and blue on an insert mounted on a 25+ year old, heavily worn case -- original inserts age asymmetrically
Replacement bezel from a different GMT variant (BLNR colors on a stated Pepsi, for example)
Insert that shows re-inking to restore faded sections -- look for color that sits slightly proud of the aluminum surface
Coke insert claimed on a watch where the serial range predates that production configuration

Crown

Original: Two-dot Twinlock winding crown -- two dots visible on the side of the crown itself, not the tube face. This is the correct crown for the 16700; the Triplock (three dots on the crown side) arrived on later GMT-Master II variants.

Replacement tells

Triplock crown (three dots on the crown side) on a 16700 -- incorrect for this reference
Crown size inconsistent with the case tube diameter
Crown that does not screw down fully against the case with correct resistance

Bracelet

Original: Oyster bracelet with solid center links appropriate for the production era. The 16700 was produced with several bracelet references during its run; original bracelets have stampings inside the clasp consistent with the production year.

Replacement tells

Bracelet with clasp stampings that postdate the watch serial by more than two or three years (bracelets were occasionally replaced at service, but large date gaps suggest aftermarket sourcing)
Folded link center links on a watch from a period when solid centers were standard
End-link fit that is loose against the case horn -- original end links seat flush
Clasp inner stampings referencing a bracelet reference not listed in known 16700 production pairings

Case back markings

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1989 to 1999

Plain caseback outer face with no engravings
ROLEX OYSTER PERPETUAL DATE GMT-MASTER on the inner face
Reference 16700 stamped between lugs at 12 o'clock
Serial number stamped between lugs at 6 o'clock
Production serials fall in the E through W prefix range (approximately); any serial far outside this window warrants investigation

Movement tells

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The 16700 uses Cal. 3175 -- a quickset date automatic with the GMT complication. The date quicksets by pulling the crown to the first position and rotating, separate from the GMT hand setting.
The GMT function on the 3175 sets the GMT/reference time hand and bezel as a linked pair. The local hour hand adjusts independently in one-hour increments at crown position 2.
Cal. 3175 runs at 19,800bph. A movement beating at 28,800bph is not correct for this reference.
A correctly serviced 3175 holds accuracy to within +/- 10 seconds per day. Significant drift suggests worn pallets or a tired mainspring.
The GMT hand should track the 24-hour bezel accurately. A GMT hand that loses its correlation with the 24-hour scale over the course of a day indicates setting-mechanism wear.

Sources: Rolex Forums -- GMT-Master subforum authentication threads; Watchuseek -- GMT-Master 16700 reference data threads; Bob's Watches -- 16700 buying guide reference.