1989 Rolex GMT-Master (Ref. 16700) "Pepsi" W/ Box & Papers

The Rolex GMT-Master, a symbol of sophistication and versatility, has a storied history that dates back to 1954. It all started when Rolex received a request from Pan American Airways (Pan Am) to develop a technical pilot's watch capable of displaying two time zones simultaneously. With the advent of commercial transcontinental flights, Pan Am needed a watch for their long-haul international flight crews that would enable them to keep track of time in multiple locations.

GMT, which stands for Greenwich Mean Time, is the universal time standard that regulates the world's clocks and serves as the basis for aviation planning and schedules. The Rolex GMT-Master is equipped with a fourth 24-hour hand that displays the same time zone as the standard 12-hour hand, but on a 24-hour scale. This GMT hand allows wearers to set the watch to GMT or any other time zone and then adjust the offset using the rotating 24-hour bezel to display a second timezone. This remarkable feature makes the Rolex GMT-Master a must-have for anyone who frequently travels across multiple time zones, allowing them to keep track of two time zones with ease and precision.

The reference 16700 GMT-Master started production in 1988 as the upgraded version of its predecessor, the 16750. Featuring the updated 3175 movements and sapphire crystal. Rolex offered the 16700 GMT-Master as a more affordable "GMT" option alongside the more upgraded GMT-Master II, and production went on for a surprising 11 years when it ceased production in 1999. Interestingly enough, the ref. 16700 had notably fewer production numbers than its big brother the 16710 making for an overall harder watch to obtain as a result.