Rolex GMT-Master II Ref. 16710 "Coke" Bezel (1989)

The Rolex GMT-Master II Ref. 16710 represents the final chapter of Rolex's aluminum-bezel GMT era, and the "Coke" bezel variant, with its black and red color scheme, is one of the most visually striking sport Rolexes ever produced. Introduced in 1989 and produced until 2007, the 16710 bridges the gap between vintage Rolex and modern production. It is the last GMT-Master II you can legitimately call a tool watch before Rolex moved into the luxury-sport category with ceramic bezels and increased prices.

For collectors who appreciate Rolex at the point where craftsmanship meets practicality, the 16710 Coke is a sweet spot.

The GMT-Master Lineage

The GMT-Master was born from a genuine aviation need. In 1954, Pan American World Airways asked Rolex to develop a watch that could simultaneously display two time zones, allowing pilots to track both local time and Greenwich Mean Time (GMT) during long-haul flights. The result was the GMT-Master Ref. 6542, featuring a 24-hour rotating bezel and an additional GMT hand on the dial.

The original GMT-Master (Ref. 6542, then 1675, then 16750) used a movement where the GMT hand was linked to the hour hand. You could set local time by rotating the bezel, but both hands moved together. The GMT-Master II, introduced with the Ref. 16760 in 1983, solved this limitation with a new movement that allowed the hour hand to be set independently, jumping in one-hour increments. This made crossing time zones far more practical.

The Ref. 16710, introduced in 1989, was the refined and perfected version of the GMT-Master II concept.

The "Coke" Bezel

The Ref. 16710 was available with three bezel color combinations, each earning a collector nickname:

"Pepsi": Blue and red (the most famous GMT color scheme)
"Coke": Black and red (the subject of this article)
"Batman" / All-Black: Solid black

The "Coke" nickname comes from the obvious color association with Coca-Cola's brand palette. The black and red combination offers a more subtle, versatile look than the flashier Pepsi bezel while retaining the dual-color functionality that makes the GMT bezel readable at a glance. The black half marks the nighttime hours (18:00 to 06:00), while the red half marks daytime (06:00 to 18:00).

The bezel insert is anodized aluminum, not the ceramic (Cerachrom) used in modern Rolex production. Aluminum bezels fade over time with UV exposure, creating the "ghost" or "faded" bezels that vintage collectors prize. A well-faded Coke bezel, with the red turning to a warm pink-orange and the black lightening to charcoal, is considered highly desirable.

Specifications

Reference: 16710
Case material: Stainless steel (904L)
Case diameter: 40mm
Case thickness: Approximately 12mm
Crystal: Sapphire with Cyclops lens over date
Bezel: Bidirectional rotating, anodized aluminum insert (black/red "Coke")
Movement: Rolex Caliber 3185 (1989-2003), Caliber 3186 (2003-2007)
Power reserve: Approximately 50 hours
Water resistance: 100 meters (330 feet)
Bracelet: Oyster (78790A) or Jubilee, folded (early) or solid end links (later)
Dial options: Black with luminous hour markers
Lug width: 20mm
Production period: 1989 to 2007

Movement Evolution

The 16710 was produced with two distinct movements during its nearly two-decade run:

Caliber 3185 (1989-2003): The original movement for the 16710. Features the independent quick-set hour hand, date, and hacking seconds. Uses a traditional Breguet overcoil hairspring.

Caliber 3186 (2003-2007): Updated movement featuring Rolex's Parachrom Blu hairspring, which provides superior resistance to magnetic fields and temperature variations. The 3186 also introduced a slightly modified GMT hand mechanism. Late-production 16710s with the 3186 movement are generally considered more desirable.

Value Guide

The Ref. 16710 has appreciated significantly since its discontinuation in 2007, driven by growing collector interest in the last aluminum-bezel GMTs.

Coke Bezel (Black/Red) Values:

Full set (box, papers, tags), excellent condition: $12,000 to $16,000
Watch only, excellent condition: $9,000 to $12,000
Watch only, good condition (some wear): $7,500 to $9,500
Faded/ghost bezel examples: Premium of 10-30% over standard
Cal. 3186 movement (2003-2007): Premium of $1,000 to $2,000 over Cal. 3185
Jubilee bracelet: Premium of $500 to $1,500 over Oyster

Comparative Values (other bezel variants):

Pepsi bezel (blue/red): $13,000 to $18,000 (full set)
All-black bezel: $10,000 to $14,000 (full set)

The Pepsi commands the highest premium due to its connection to the original GMT-Master design. The Coke offers strong value relative to the Pepsi while being equally wearable.

Condition Assessment Guide

Case and Bracelet:

Check for case polishing (over-polished cases lose their sharp edges and lugs)
Examine lug holes for wear from strap changes
Bracelet stretch (especially on folded-link earlier examples)
Solid end link vs. folded end link (solid is later production, more desirable)
Crown and crown tube condition

Bezel:

Aluminum bezel insert for chips, dings, or excessive fading
Bezel action (should click firmly in both directions)
Pearl (luminous pip at 12 o'clock) for cracks, discoloration, or replacement
Color intensity or desirable fading pattern

Dial and Hands:

Original dial with correct luminous material (tritium for earlier, Luminova/Super-LumiNova for later)
Tritium dials should have "T SWISS MADE T" or "SWISS-T<25" at 6 o'clock
Luminova dials will read "SWISS MADE" at 6 o'clock
Hand patina should match dial lume patina

Movement:

Confirm caliber (3185 vs. 3186) matches the serial number range
Service history (regular Rolex service every 7-10 years is recommended)
All functions (time setting, date quick-set, GMT hand adjustment) should operate smoothly

Condition Grades:

Excellent: Minimal wear. Case edges sharp. Bezel insert clean. Crystal clear. Bracelet tight.
Very Good: Light wear consistent with regular use. Minor desk-diving marks. Bezel may show light scratches.
Good: Moderate wear. Some case polishing may have occurred. Bracelet shows stretch. Bezel shows wear.
Fair: Heavy wear. Significant polishing. Bracelet loose. May need service.

Collecting Strategies

GMT Collectors: The 16710 Coke sits perfectly between the vintage 1675/16750 and the modern ceramic 116710. It offers the charm of aluminum bezels with the functionality of the GMT-Master II movement.

Daily Wear Collectors: The 16710 is arguably the best daily-wear vintage Rolex. It is robust, 100m water-resistant, and the 40mm case wears comfortably on most wrists. The Coke bezel's dark color scheme hides minor wear better than the Pepsi.

Investment Approach: Post-discontinuation appreciation has been strong and consistent. Late-production examples with the Cal. 3186 movement and full documentation represent the strongest long-term value proposition.

Entry Level Rolex Sport: Compared to modern Rolex sport watches (many of which now retail above $10,000 and trade on the secondary market for significantly more), the 16710 Coke offers genuine Rolex sport watch quality at a relatively accessible price point.

Why This Watch Matters

The Ref. 16710 is the end of an era. When Rolex replaced it with the ceramic-bezel Ref. 116710 in 2007, the company crossed a line from tool watch to luxury object. The 16710 still has that tool-watch DNA: an aluminum bezel that will fade and patina with use, a case that can be serviced and polished back to life, and a movement that will run for decades with basic maintenance.

The Coke bezel variant offers something specific: a color combination that reads as mature, understated, and seriously intentional. It is the GMT for people who do not need to announce that they are wearing a GMT. And as aluminum-bezel 16710s become scarcer and more expensive, the window for acquiring one at reasonable prices continues to narrow.

Browse all Watches →