Rolex GMT-Master 16700 "Pepsi Faded" automatic 40 mm Full Set circa 1996

The story

The story of this horological icon begins in the early 1950s. At that time, international and transcontinental air travel was rapidly expanding. Pilots were increasingly required to cross oceans and land in different time zones. It was Pan American World Airways that came up with the idea of commissioning a watch capable of displaying two time zones simultaneously. Thus, the GMT-Master was born. Still part of the Rolex catalogue today, this legendary watch continues to ignite passion among collectors, and we are delighted to present a fine example dating from 1996.

The fundamentals

The world of vintage Rolex is fascinating, with an astonishing number of variations produced over the decades. Focusing specifically on the GMT line and the transition from the GMT-Master to the GMT-Master II reveals several key evolutions in Rolex’s watchmaking philosophy. The final references of the GMT-Master retain many distinctly vintage traits, from the use of tritium lume to the coupled hour and GMT hands. However, these five-digit references also began to embrace modernity, introducing features such as a quickset date and updated dial designs.

The last GMT-Master…

Rolex introduced the very first GMT-Master in 1954 with reference 6542. This model featured a bi-colour bezel, allowing the wearer to distinguish day from night at a glance in the chosen time zone. In 1959, Rolex replaced it with the legendary reference 1675, followed in 1980 by the reference 16750. After a relatively short production run of just eight years, Rolex unveiled the model presented here: the reference 16700.

The Rolex GMT-Master reference 16700 is considered one of the most intriguing watches in the history of the GMT-Master line. When it was introduced in 1988, it was sold alongside the first GMT-Master II reference, the 16760, which had debuted five years earlier. The 16700 was positioned as the more accessible option and stood out for its slimmer, more traditional 40 mm case measuring approximately 12 mm thick, compared to the noticeably bulkier “Fat Lady” profile of the 16760, with its thicker lugs and increased case height.

This slimmer profile is explained by the use of the Rolex calibre 3175, the last “fixed” GMT movement produced by the brand, in which the GMT hand is not independently adjustable. Subsequent calibres — such as the 3085 found in the 16760 — allow independent adjustment of the GMT hand and the local hour hand, enabling the tracking of a third time zone.

Rolex produced the reference 16700 until 1999, during which time it underwent several evolutions. It was offered exclusively in stainless steel, with two bezel options: the iconic red and blue “Pepsi” bezel and the black “LN” version. Over its 11-year production run, the 16700 coincided with a major transition at Rolex, as the brand shifted from tritium to Luminova, and later to Super-LumiNova. Early tritium examples develop a warm patina over time, much like older vintage watches, while models produced from around 1997 onwards feature Luminova, whose numerals, indexes, and hands remain bright white for many years.

What you should know

This watch is a Rolex GMT-Master reference 16700 produced circa 1996. It features a tritium dial and hands that have developed a subtle, even patina over time, offering the warm tones so characteristic of Rolex watches from the 1990s. This natural aging gives the watch a unique personality that cannot be replicated and contributes greatly to its vintage appeal.

The red and blue “Pepsi” bezel displays a desirable faded appearance, softening the contrasts and enhancing the overall neo-vintage aesthetic. Each faded bezel tells a different story, making every example truly unique.

The 40 mm case is in very fine condition, retaining strong proportions and a balanced presence on the wrist. One important distinction of the reference 16700 is worth noting: it is the only GMT-Master fitted with a sapphire crystal, marking the transition from acrylic crystals to Rolex’s modern standards.

The watch is fitted to an Submariner Oyster bracelet. This detail, clearly disclosed, does not detract from the overall appeal of the piece and remains aesthetically and functionally coherent, offered here with full transparency.

This GMT-Master 16700 “Pepsi Faded” is a true collector’s favourite, bringing together many highly sought-after attributes: a five-digit reference, patinated tritium lume, a faded bezel, and a sapphire crystal. A watch with strong character, bridging two key eras in Rolex history, now awaiting its next owner within our Lepage Time Collector selection.

The package

This Rolex GMT-Master reference 16700 “Pepsi Faded” is offered as a Full Set, accompanied by its original presentation box, instruction manual, and an undated warranty card, consistent with the practices of the period.

Prior to being offered for sale, the watch underwent a full inspection in our workshop by our Rolex-trained watchmaker, including a thorough check of the movement and all its functions. A careful polishing and refinishing was also carried out, respecting the original lines and proportions of the case to preserve both the aesthetics and authenticity of this collector’s piece.

The watch is covered by a one-year Lepage Vintage warranty, offering its future owner complete peace of mind when acquiring a historic Rolex, meticulously selected and prepared by our team.