In 2021, on the 50th anniversary of the Explorer II series, Rolex took the opportunity to introduce the new generation of the series, with the model updated from 216570 to 226570. Although the model has changed, the appearance of the watch remains largely similar (but this is in line with Rolex’s consistent style). The main difference between the old and new models lies in the movement, which has been upgraded from 3187 to the same 3285 as in the GMT-Master II. This indicates that the performance of the movement has been further optimized, and the power reserve has increased to 70 hours, providing a more convenient wearing experience.
The current appearance of the Explorer II 226570 is a complete inheritance of the previous generation 216570. The appearance of the 216570, in turn, combines the strengths of the first generation (1655) and the second generation (16550) of the Explorer II, including the large orange hand of the former and the bezel scale style of the latter. Functionally, the 3285 movement allows for independent adjustment of the 24-hour hand indicating the second time zone. Combined with the scale on the bezel, it can even extend the indication of the third time zone. With the durable characteristics of a professional sports watch suitable for various environments and the practical dual time zone function for overseas travel, the Explorer II has always had its own market. Even though it may not be extremely popular, its solid, practical, and unique design has still won the hearts of many watch enthusiasts.
The dual time zone function and 100-meter water resistance of the Explorer II are very practical for daily wear. At the same time, there are only two versions in the series, white and black, both of which are easy to match and durable.
The pricing of the Explorer II has changed significantly in the five years before and after the model update. In 2021, the pricing of the 216570 before the model update was NT$ 275,000. After the new model 226570 was introduced, the price immediately rose to NT$ 282,000. Then in 2022, the watch’s pricing increased and directly crossed the NT$ 300,000 mark. In 2023 and early 2024, Rolex adjusted the pricing again. Additionally, starting from New Year’s Day in 2025, there was another price increase. Within just five years, the pricing difference was approximately 26.3%. The following are the latest brand pricing of the two Explorer II models as of now:
- 226570-0001 (White dial) – NT$ 347,500
- 226570-0002 (Black dial) – NT$ 347,500
The pricing of the Explorer II 226570-0001 is NT$ 347,500, and the current average secondary market price is approximately NT$ 344,000.
It can be seen that after four consecutive price increases from 2022 to 2025, the watch’s price has no longer remained in the NT$ 200,000 range. So, how has the performance of this watch been in the secondary market? According to the data from the advanced watch market research institution WatchCharts, the market prices of both the white and black dial Explorer II have been gradually declining since the second quarter of 2022. By July 2024, the market price of the white dial Explorer II had dropped to US$ 10,846 (approximately NT$ 357,000), and the value of the black dial Explorer II was slightly lower, approximately US$ 10,233 (approximately NT$ 337,000). At this time, the market price of the watch was already a considerable distance from its historical peak in the first quarter of 2022 (approximately US$ 15,000), and since then, the price has been steadily adjusting downwards from the US$ 11,000 range towards the US$ 10,000 level.
The pricing of the Explorer II 226570-0002 is NT$ 347,500, and the current average secondary market price is approximately NT$ 325,000.
By January 2025, based on the data provided by WatchCharts, the market price of the white dial Explorer II has been on a downward trend since November last year, dropping to US$ 10,463 (approximately NT$ 344,000), and it is still slowly declining recently. The black dial Explorer II has been lingering at the low end for more than half a year. Since the beginning of May last year, after experiencing fluctuations for more than eight months, the price has been getting closer to US$ 10,000. Now, the secondary market price has officially dropped below US$ 10,000 to US$ 9,877 (approximately NT$ 325,000), with a relatively significant decline in the past month. Both models are generally performing similar to the series in recent years, slightly above the official pricing, but the premium rate is not very astonishing. Currently, the premium rate of the white dial Explorer II is 7.3%, and that of the black dial is 1.3% (based on the US dollar pricing). From the perspective of popular Rolex watches, such a premium rate seems rather reasonable. Especially as the official pricing of the watch has been increasing year by year, if their market prices continue to decline steadily, the market price of the Explorer II will get closer to the official pricing and even have the chance to fall below it. After Rolex’s latest price increase in 2025, let’s wait and see if there is a chance for many people’s wishes to come true: to see the Explorer II’s price drop below the official pricing. Let’s continue to closely monitor the price trend of this series.
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