Watch Collectors Call It ‘The Last Real Rolex’ But You Wouldn’t Pick It Over A GMT-Master

• The Rolex Explorer 1016 is considered by many collectors to be the last true tool watch the brand ever made.
• Produced from 1960 to 1989, it featured a 36mm case, matte black dial, tritium lume, and no date.
• Inspired by the 1953 Everest expedition, the 1016 reflects Rolex’s shift from adventurer’s gear to luxury icon.

There was a time when Rolex wasn’t the cultural and financial juggernaut that it is today. Sure, the Swiss luxury watchmakers have always been one of the world’s most reputable brands, but during the 20th century, you could say that the market share was more balanced between other brands.

Collecting watches as financial assets hadn’t taken off in the same way we see today. A Rolex might sit next to a modest Seiko in the same dive locker simply because it could do the same job.

Watch enthusiasts, or what would later become known as collectors, looked at pragmatism over prestige as watches were tools designed to measure the seconds of a race, keep the wearer on time during dives, or even or even withstand the rigours of mountaineering in unforgiving conditions.

The luxury manufacture was competing with the likes of OMEGA, Heuer and Doxa, all of whom made tough, professional-grade watches; the idea of spending five figures on a Rolex as a status symbol was simply unheard of. It’s why many consider the Explorer 1016 as ‘The Last Real Rolex’: a tough, legible, and no-frills timekeeper that was made exceptionally well.

Produced from 1960 to 1989, it is not only one of Rolex’s longest-running references but also a definitive example of the brand’s rugged, no-nonsense design philosophy.

It was small. Just 36mm. But that’s what made it wearable. A black matte dial with Arabic numerals at 3, 6, and 9 made it instantly legible. The case housed either the calibre 1560 or later, the workhorse 1570, both COSC-certified. Tritium lume, an acrylic crystal, and a screw-down crown made it field-ready. No date. No fluff. Just pure mid-century Rolex.

During this time, Rolex was leaning heavily on timepieces as tools for the adventurer. In 1953, the Swiss brand sent models of an earlier Oyster Perpetual expression to the team of daring mountaineers, including Sir John Hunt, Sir Edmund Hillary, and Tenzing Norgay, a Sherpa climber from Nepal, who became the first confirmed humans to reach the summit of Everest.

Later that year, Rolex released the first timepiece to don the now iconic ‘Explorer’ moniker.

The 1016 ended production in 1989, right before Rolex ushered in a modern era of glossy dials, white gold indices, sapphire crystals, and marketing-driven prestige. The Explorer 14270 that replaced it looked cleaner, yes, but also more corporate.

It’s why, for many vintage collectors, the 1016 is the last reference that feels purely mechanical, purely functional, and purely Rolex, uncorrupted by luxury positioning. It still represents the true Rolex spirit: humble, capable, and quietly excellent. Although I doubt any of them would pick it over a GMT-Master.