Make: Rolex
Model: GMT Master ‘Pepsi’
Reference: 16700
Year: 1998
Movement: Automatic calibre
Box and papers: Original Rolex box, Watch Register Certificate
Case: 40mm steel Oyster case
Dial: Black, rare ‘Swiss’ only transitional dial
Bracelet/Strap: Steel Oyster bracelet
Condition: Neo-vintage, excellent
Serviced: January 2026
Warranty: 6 month RHW warranty
A Transitional Pepsi with Real Collector Appeal
The Iconic Legacy
The Rolex GMT-Master was originally developed in partnership with Pan Am to meet the needs of international pilots. Its ability to track multiple time zones quickly made it one of the most practical and recognisable tool watches ever produced.
The red and blue “Pepsi” bezel became its defining feature, designed to clearly distinguish between day and night hours. Over time, it evolved into one of the most iconic colour combinations in watchmaking.
Reference 16700 represents the final iteration of the original GMT-Master line, produced alongside the GMT-Master II before being discontinued in the late 1990s. It retains the simplicity of the original design, with a non independent GMT hand, making it the last of the true GMT-Master lineage.
This example from 1998 sits right at the end of production and features one of the most desirable dial variations.
Why You’ll Love It
• 40mm stainless steel case
• Original Pepsi bezel with light, even fade and attractive patina
• Black dial with desirable Swiss-only marking
• Rolex automatic movement
• Reference 16700
• 1998 production
• Recently fully serviced
• Fantastic overall condition
• Supplied with original Rolex box
The standout here is the combination of details.
The Swiss-only dial places this watch in a very short transitional production window, making it far less common than standard variants. For collectors, this is a key point of interest.
The bezel has developed a light, even fade over time, giving it the kind of character that cannot be artificially replicated. It adds depth and individuality to the watch without detracting from its overall condition.
Mechanically, the watch is exactly where you want it to be. Recently serviced and ready to wear.
Iconic Status
The watch that defined global travel.
The Rolex GMT-Master became synonymous with international travel during the jet age, worn by pilots, explorers and those constantly moving between time zones.
Over time, it moved beyond aviation and into popular culture. Figures such as Tom Selleck famously wore a Rolex GMT-Master in Magnum P.I., helping cement the model’s place in everyday style as well as professional use.
The Pepsi bezel in particular has become one of the most recognisable elements in watch design. Instantly identifiable, yet rooted in practical function.
Today, references like the 16700 hold a special place among collectors. As the final GMT-Master, it represents the end of an era. Combined with transitional details such as the Swiss-only dial, it becomes something more than just a watch. It becomes a moment in Rolex history.
Ready to Make It Yours?
Visit us at our home inside Martin & Martin, 30 High Street, St Peter Port, Guernsey.
This Rolex GMT-Master reference 16700 from 1998 features a desirable Swiss-only dial and lightly faded Pepsi bezel, is presented in fantastic condition, and has been recently serviced.
Price £9,500.
• PayPal or PayPal guest checkout online, allowing you to use your PayPal account or any major debit or credit card
• Bank transfers
• Secure email payment links
• Apple Pay and all major debit and credit cards accepted in store
• In person card payments available in store and by private appointment
• Book a private appointment via our website
A true collector’s GMT. Classic, transitional and increasingly hard to find.
Make: Rolex
Model: GMT Master ‘Pepsi’
Reference: 16700
Year: 1998
Movement: Automatic calibre
Box and papers: Original Rolex box, Watch Register Certificate
Case: 40mm steel Oyster case
Dial: Black, rare ‘Swiss’ only transitional dial
Bracelet/Strap: Steel Oyster bracelet
Condition: Neo-vintage, excellent
Serviced: January 2026
Warranty: 6 month RHW warranty
A Transitional Pepsi with Real Collector Appeal
The Iconic Legacy
The Rolex GMT-Master was originally developed in partnership with Pan Am to meet the needs of international pilots. Its ability to track multiple time zones quickly made it one of the most practical and recognisable tool watches ever produced.
The red and blue “Pepsi” bezel became its defining feature, designed to clearly distinguish between day and night hours. Over time, it evolved into one of the most iconic colour combinations in watchmaking.
Reference 16700 represents the final iteration of the original GMT-Master line, produced alongside the GMT-Master II before being discontinued in the late 1990s. It retains the simplicity of the original design, with a non independent GMT hand, making it the last of the true GMT-Master lineage.
This example from 1998 sits right at the end of production and features one of the most desirable dial variations.
Why You’ll Love It
• 40mm stainless steel case
• Original Pepsi bezel with light, even fade and attractive patina
• Black dial with desirable Swiss-only marking
• Rolex automatic movement
• Reference 16700
• 1998 production
• Recently fully serviced
• Fantastic overall condition
• Supplied with original Rolex box
The standout here is the combination of details.
The Swiss-only dial places this watch in a very short transitional production window, making it far less common than standard variants. For collectors, this is a key point of interest.
The bezel has developed a light, even fade over time, giving it the kind of character that cannot be artificially replicated. It adds depth and individuality to the watch without detracting from its overall condition.
Mechanically, the watch is exactly where you want it to be. Recently serviced and ready to wear.
Iconic Status
The watch that defined global travel.
The Rolex GMT-Master became synonymous with international travel during the jet age, worn by pilots, explorers and those constantly moving between time zones.
Over time, it moved beyond aviation and into popular culture. Figures such as Tom Selleck famously wore a Rolex GMT-Master in Magnum P.I., helping cement the model’s place in everyday style as well as professional use.
The Pepsi bezel in particular has become one of the most recognisable elements in watch design. Instantly identifiable, yet rooted in practical function.
Today, references like the 16700 hold a special place among collectors. As the final GMT-Master, it represents the end of an era. Combined with transitional details such as the Swiss-only dial, it becomes something more than just a watch. It becomes a moment in Rolex history.
Ready to Make It Yours?
Visit us at our home inside Martin & Martin, 30 High Street, St Peter Port, Guernsey.
This Rolex GMT-Master reference 16700 from 1998 features a desirable Swiss-only dial and lightly faded Pepsi bezel, is presented in fantastic condition, and has been recently serviced.
Price £9,500.
• PayPal or PayPal guest checkout online, allowing you to use your PayPal account or any major debit or credit card
• Bank transfers
• Secure email payment links
• Apple Pay and all major debit and credit cards accepted in store
• In person card payments available in store and by private appointment
• Book a private appointment via our website
A true collector’s GMT. Classic, transitional and increasingly hard to find.
