Rolex GMT-Master II Swiss Only Faded Pepsi (Ref. 16710), 1998

Dealer description — Huntington Company

History and Significance The reference 16710 had a remarkably long production run, but small changes made throughout those years created configurations that can feel substantially different from one another today. This 1998 example comes from one of the most interesting transitional periods, when Rolex was moving away from tritium luminous material and toward LumiNova. Watches produced during this brief period can be found with the distinctive “SWISS” signature positioned alone beneath the six o’clock marker. That seemingly minor line of text has become one of the easiest ways to recognize the transitional “Swiss Only” dial. The dial gives this GMT-Master II an identity that goes well beyond its production year. Rather than the longer signatures seen before and after it, the single “SWISS” marking places the watch within a relatively narrow moment in the evolution of the reference 16710. The rest of the dial remains wonderfully familiar, with the black surface, luminous hour plots, Mercedes hour hand, and red GMT hand forming the classic Rolex sports-watch layout. It is the kind of variation that remains subtle from across the room but becomes considerably more meaningful once the details are understood. Then there is the bezel. The original red and blue color combination has faded dramatically, leaving a blue section that resembles washed denim and a red section that has softened into an almost salmon tone. The transition between the two colors gives the watch an appearance that would be nearly impossible to duplicate exactly on another example. Aluminum GMT inserts are particularly compelling for this reason, as years of exposure can turn what began as an identical factory component into something completely individual. The 40mm stainless steel case appears unpolished and retains the strong geometry expected from a well-preserved Rolex sports watch. That matters especially on the reference 16710, where the slimmer case architecture and aluminum bezel create a noticeably different profile from later ceramic GMT-Master II models. The Oyster bracelet completes the familiar tool-watch construction and gives the watch the durability expected from a GMT. Despite being nearly three decades old, the proportions remain exceptionally easy to wear. Original papers accompany this example and provide an important additional element of completeness. Between the documented 1998 production period, transitional Swiss Only dial, apparently unpolished case, and extraordinarily attractive faded bezel, several desirable characteristics come together in a single watch. None of those details overwhelm the fundamental simplicity of the GMT-Master II, but each adds another reason to examine the watch more closely. The reference 16710 is often discussed as a single model, yet examples like this demonstrate how much variation can exist within that one reference. Writer's Thoughts A faded bezel can completely change the personality of a Rolex GMT-Master II, and this example demonstrates that better than most. The denim-like blue and salmon-toned red have moved far beyond the colors normally associated with a Pepsi insert, giving the watch an appearance that feels distinctly individual. The Swiss Only dial adds another layer of interest because the detail is subtle enough to be missed unless the production period of the reference 16710 is already familiar. Combined with the apparently unpolished case, the watch has the kind of honest character that makes neo-vintage Rolex particularly appealing. Our Promise Every watch is thoroughly vetted, carefully described with complete transparency, and guaranteed authentic. Each piece is offered in honest condition, ensuring collectors receive a timepiece that reflects both originality and integrity. Specifications Brand: Rolex Model: GMT-Master II Swiss Only Reference: 16710 Year: 1998 Case Material: Stainless steel Case Size: 40mm Dial: Black “Swiss Only” dial with luminous hour markers Movement: Automatic Strap/Bracelet: Rolex Oyster stainless steel bracelet Buckle/Clasp: Rolex Oyster folding clasp Contents: Original Rolex papers Condition Case: The stainless steel case appears unpolished and retains strong original proportions and attractive geometry. Surface wear is present throughout, consistent with age and normal use. Dial: The black Swiss Only dial presents very well, with clean printing and a strong overall appearance. The single "SWISS” signature remains clearly visible beneath the six o’clock marker. Hands: The hands present well overall and remain highly legible against the black dial. Crystal: The sapphire crystal presents well with light signs of wear consistent with age and use. Bezel: The aluminum Pepsi insert has developed substantial and particularly attractive fading. The blue has faded toward a denim-like tone, while the red has softened into a distinctive salmon color. Strap/Bracelet: The Rolex Oyster bracelet presents well overall with surface wear consistent with regular use. Buckle/Clasp: The Rolex folding clasp remains in good condition with age-appropriate surface wear.