Rolex Explorer ref. 124270

The Origins

Launched in 1953 to celebrate Mt. Everest's first-ever successful summit by Sir Edmund Hillary and his sherpa Tenzing Norgay that same year, the Rolex Explorer has become one of the Genevan giant's most iconic models. Built as a utilitarian sports watch lacking frills that might distract its wearer from the mountainous task at hand, the Explorer is a robust timepiece that encapsulates everything Rolex has stood for over the course of decades. 

While the collection’s evolution has been a tale of slow and incremental changes, much like so many other Rolex models, the Explorer has become a fan favorite amongst collectors thanks to just how understated its design is. Unimpeded by things like rotating bezels, colourful dials or elaborate case finishing, the Explorer is the perfect one watch collection that can easily handle whatever a collector might throw at it. Built with its original purpose in mind, the Explorer is the very idea of what a Rolex is distilled into one singular watch, and that cohesive design language has propelled its status as a horological icon. 

The Case and Dial

Launched in 2021, the Explorer ref. 124270 was a remarkable turning point in the collection’s history as Rolex finally looked to their own past to inform their future and downsized the collection from the 39mm diameter it had been since 2010 to the 36mm diameter that has been synonymous with the collection for the majority of its lifetime, similar to the Datejust and Day-Date. Offered in stainless steel, the ref. 124270’s case and Oyster bracelet are both entirely satin-finished with the exception of one part, its flat stainless steel bezel which includes a polished finish. Acting as a halo around the watch, this polished bezel accentuates the Explorer’s construction and serves to enlarge the timepiece’s footprint on the wrist.

Additionally, this bright ring of steel also serves to accentuate the ref. 124270’s blacked dial, itself featuring a glossy finish not too dissimilar to the bezel that surrounds it. Boasting the Explorer’s iconic 3-6-9 applied luminescent indices and applied baton hour markers throughout in addition to its triangular 12 o’clock marker, the ref. 124270’s display is that of pure traditionalism, given just how well it fits into the collection’s historical design language. 

The Movement

As with any ref. 12xxxx model from Rolex, the new Explorer features the latest generation of movement that Rolex has to offer, the automatic cal. 3230. Boasting an impressive power reserve of 70 hours, this movement also include Rolex’s Parachrom Hairspring, Paraflex Shock Absorbers and a Chronergy Escapement with Optimized Energy Efficiency, the Explorer is a truly robust and capable watch that is well-equipped for just about everything you can throw at it.

Celeb Love

Given its visual similarities to other Explorer references due to the collection’s virtually unchanging dial and the ref. 124270’s 36mm diameter, it is exceptionally difficult to determine if someone is wearing a ref. 124270 or a vintage Explorer. Nonetheless, the Explorer as a whole is quite a popular piece for celebrities given its truly understated look and under-the-radar execution thanks to its completely brushed finish, with the exception of its bezel. Owned by the likes of Will Ferrel and Keegan Allen (who professed his love for the ref. 124270 to Hodinkee), the ref. 124270 joins the long list of other Explorer references that have received positive plaudits from celebrities for its no-frills approach to luxury watchmaking.

Market Performance

While the ref. 124270 has everything you might think a Rolex would need to be successful in the market; it is actually one of Rolex’s weakest performers in the context of the secondary market. This can be primarily put down to its smaller size. While 36mm is the collection’s historical size, and it was a vintage-inspired decision to return the collection to 36mm, that move wasn’t the most popular thing Rolex could have done with regards to appeasing the wider secondary market. However, that is not Rolex’s concern, and the model does still sell well at ADs, with a waiting list, albeit not the longest one you’ll join for a Rolex. 

Offered at an MSRP of $7750, the ref. 124270 commands a market price of around $8150, which is down around 2% in the last 90 days. While this only translates into a price premium of around 12,5%, this market weakness offers collectors an exceptional opportunity to immediately add an iconic Rolex model to their collection without having to wait around a year on a waiting list with an AD. Also, given the market’s recent draw towards smaller watches, it is not hard to imagine a world where the ref. 124270 experiences a hike in demand in the primary and secondary markets alike. Collectors may begin to embrace the model’s 36mm heritage-inspired diameter and look for that same vintage feel without compromising on modern build quality. So, it is certainly possible that the ref. 124270 hits the $10000 range that it traded at throughout all of 2021 and early 2022, but we will have to wait and see before the ref. 124270 begins its perilous journey back up to those heights. 

Check out the live performance of Rolex Explorer ref. 124270 on The Wristcheck Index