In 2021, celebrating the 50th anniversary of the Explorer II series, ROLEX launched the next generation of the series, updating the model from 216570 to 226570. Despite the change, the watch’s appearance remains largely similar to its predecessor, aligning with Rolex’s tradition of subtle evolution. The primary difference between the old and new models lies in the movement upgrade from 3187 to the 3285, shared with the GMT-Master II, enhancing the movement’s performance and extending the power reserve to 70 hours, marking a significant advancement in user convenience.
The current Explorer II 226570 continues the design legacy of its predecessor, 216570, blending the strengths of the first (1655) and second (16550) generation Explorer IIs, including the former’s prominent orange hand and the latter’s bezel markings. The 3285 movement allows independent adjustment of the 24-hour hand for a second timezone, and with the bezel markings, it can even indicate a third timezone. Its durability for outdoor activities and the practical two-timezone feature have secured the Explorer II its niche market. Though not the most hyped, its robust utility and unique design have captivated many enthusiasts.
▲ The Explorer II’s dual-time function and 100-meter water resistance make it highly practical for everyday wear, available in either a white or black dial, both versatile and stylish.
Over the four years since the model update, the pricing for the Explorer II has seen significant changes. The 216570 was priced at NT$ 275,000 before the update, which then rose to NT$ 282,000 for the new model 226570. The price further jumped in 2022, breaking the 300,000 mark, and with subsequent price adjustments by Rolex in early 2023 and another increase at the start of 2024, the price has increased by about 25% within four years. Here are the latest brand prices for both versions of the Explorer II as of now:
★ 226570-0001 (White Dial) — NT$ 344,000 ★ 226570-0002 (Black Dial) — NT$ 344,000
▲ The Explorer II 226570-0001 is priced at NT$ 344,000, with the current secondary market average price around NT$ 356,000.
After three consecutive price increases from 2022 to 2024, the watch’s pricing will no longer return to the 200,000 range. How does this model perform in the secondary market? According to data from WatchCharts, a research institute focusing on the luxury watch market, both the white and black dial versions of the Explorer II have been experiencing a gradual decline in price since the second quarter of 2022. By the end of the third quarter of 2023, the price for the white dial version had dropped to $11,288 (approximately NT$ 356,000), and the black dial version was slightly lower at about $11,366 (approximately NT$ 358,000), marking a significant decrease from the peak of around $15,000 in the first quarter of 2022. Prices have been adjusting steadily to the $11,000 range since then.
▲ The Explorer II 226570-0002 is priced at NT$ 344,000, with the current secondary market average price around NT$ 346,000.
As of March 2024, data from WatchCharts shows fluctuating prices, with the white dial version dropping to $11,288 (approximately NT$ 356,000), while the black dial version has seen a downward trend over the past six months, now at $10,989 (approximately NT$ 346,000). This performance is consistent with the series’ recent trends, slightly above the official price but without a shocking premium rate. Currently, the premium rate for the white dial is 17%, and for the black dial, it’s 13.8%. For a popular Rolex model, these rates are quite modest, especially as the official prices continue to rise. If the trend of gradual price decline continues, the Explorer II’s market price could potentially approach or even fall below the official price. After the brand’s price increase this year, it remains to be seen if many enthusiasts’ wish to see the Explorer II at a price below its official rate will come true. Let’s keep an eye on the price trends for this series.
