Modern Rolex Explorer I Buyer’s Guide: 36 vs 39 vs 40mm

The Rolex Explorer in a nutshell

The Explorer has been part of the Rolex collection since the 1950s and is closely connected to mountaineering and exploration. But unlike something like the Submariner or GMT-Master II, Rolex never added much functionality to it. Which is the whole point.

The Explorer is essentially a very robust three-hand Rolex. Its black dial, large luminous markers and characteristic Arabic numerals at 3, 6 and 9 make it immediately recognisable, while the smooth bezel keeps things understated. And that simplicity has aged extremely well. And that’s exactly my feeling as well: I think the Explorer gets more fascinating over time.

For this buyer’s guide, we’re focusing on the Explorer I models you're most likely to encounter when shopping for a relatively modern example:

There are obviously older Explorer references worth talking about, especially the legendary 1016, but that’s a rabbit hole deserving an article of its own.

Rolex Explorer 36mm: the classic choice

If you want the Explorer closest to its traditional proportions, you want a 36mm. In my opinion, the 36mm is the perfect size for almost all watches. But, if you’ve got some bigger wrists, I can understand why you’d opt for a slightly bigger watch. Alright, back to the OG 36mm.

And you actually have two very interesting generations to choose from.

Explorer 114270

The reference 114270 is one of those Rolex watches that sits right between vintage and modern.

At 36mm, it has the traditional Explorer dimensions, but you also get a sapphire crystal, an automatic calibre 3130 and 100 metres of water resistance. It feels considerably lighter and more delicate than the current Explorer, particularly because of its older Oyster bracelet.

That can either be the reason to buy one or the reason not to.

If you enjoy older Rolex watches, the 114270 has loads of charm. If you’re used to the heavier bracelets and clasps of modern Rolex, it can feel surprisingly light. For us, that’s part of the appeal.

Explorer 124270

Rolex surprised quite a few people in 2021 by discontinuing the 39mm Explorer and bringing the model back to 36mm.

The reference 124270 looks familiar, but it’s a thoroughly modern Rolex.

Inside is the calibre 3230 with approximately 70 hours of power reserve, while the case and bracelet feel much more substantial than those of the 114270. You also get Rolex's modern Chromalight lume and the latest-generation Oyster bracelet and clasp. Which some of you love, but some of you mentioned that it’s a little too much on the wrist. And we get why.

On the wrist, however, it still feels compact.

That makes the 124270 an excellent option if you want one Rolex to wear basically everywhere. It slides underneath a cuff, doesn't shout for attention and still looks exactly like an Explorer should.

And don’t immediately dismiss 36mm because you normally wear larger watches. The Explorer’s black dial and relatively broad Oyster bracelet give it more presence than the number suggests.

The 39mm Explorer 214270: the sweet spot?

Then we get to the watch that might be the most interesting of the bunch: the Explorer 214270.

Rolex introduced the 39mm Explorer in 2010, increasing the case size by a full 3mm. For anyone who thought 36mm was simply too small, this was the answer.

And because Rolex discontinued it in 2021, the 214270 now occupies a unique position in Explorer history.

It is the only 39mm Explorer.

The larger case makes a surprisingly big difference. It has considerably more wrist presence than the 36mm versions without becoming a particularly large watch. For wrists somewhere around 17–19cm, the proportions can be pretty close to perfect.

But there is one detail you need to know before buying one.

Mark I vs Mark II dial

Early 214270s came with what collectors generally call the Mark I dial.

The 3, 6 and 9 numerals weren't filled with lume, and the handset was relatively short for the larger dial. The minute hand in particular doesn't quite reach the minute track. Thankfully, Rolex quietly fixed both points around 2016.

The later Mark II received a longer handset and luminous 3-6-9 numerals, giving the watch better proportions and bringing back the classic Explorer night-time appearance.

Does that make the Mark I bad? Not at all.

In fact, its polished numerals give it a slightly dressier character. But if you want the most balanced version of the 39mm Explorer, I’d probably look for a Mark II.

Rolex Explorer 40mm: the modern option

Apparently 39mm wasn't quite enough.

In 2023, Rolex introduced the Explorer 40 reference 224270, giving buyers a larger alternative to the 36mm model. And one millimetre might not sound like much, but the 224270 is definitely the most contemporary-feeling Explorer.

The dial has more breathing room, the bracelet is wider and the overall package simply has more presence on the wrist. Importantly, Rolex managed to do this without turning the Explorer into an oversized sports watch. It’s still an Explorer.

Inside, you get the same modern-generation calibre 3230 found in the 36mm 124270, meaning approximately 70 hours of power reserve and all the technical advantages you’d expect from a current Rolex.

So why buy the 40 instead of the 36? Mostly because of your wrist and personal preference.

If you have a larger wrist or simply prefer modern sports watches around the 40mm mark, the 224270 is probably going to feel much more natural. If you want that traditional Explorer look, the 36 remains hard to beat.

And then Rolex made a two-tone Explorer

This one caused some discussion. When Rolex unveiled the new Explorer in 2021, it didn't just return to 36mm. For the first time, the brand also introduced a yellow-gold and steel version: the Explorer 124273.

Rolex calls the combination Yellow Rolesor. That means a steel case combined with an 18k yellow-gold bezel, crown and centre bracelet links.

Is yellow gold really necessary on a watch called the Explorer? Absolutely not. But that’s also what makes the 124273 interesting. And a bit weird, maybe. To be honest: we have only sold one two-tone Rolex Explorer in the last 4 years. One.

The traditional Explorer is arguably one of the most understated Rolex watches you can buy. The two-tone version takes exactly that design and makes it significantly more luxurious. You still have the black 3-6-9 dial and 36mm case, but the yellow gold completely changes its personality.

It’s less Everest and more après-ski. And we mean that in a good way.

If you want the purest interpretation of the Explorer, buy the steel 124270. But if most steel Rolex sports models feel a little too predictable, the 124273 is easily the wildcard of the Explorer family.

36 vs 39 vs 40mm: what’s actually different?

Put the three sizes next to each other and the decision becomes much easier.

36mm: traditional, understated and probably the most faithful to the historical Explorer formula.

39mm: more wrist presence without feeling large, and the only choice if you want that specific middle ground.

40mm: modern, substantial and ideal for larger wrists or buyers accustomed to contemporary sports-watch dimensions.

There’s another important distinction, though.

You can buy the 36 and 40mm Explorers new today, while the 39mm 214270 is discontinued. So if you've decided that 39mm is your perfect size, the pre-owned market is your only option. Luckily, that’s not exactly a bad place to be.

What does a Rolex Explorer cost?

This is where the Explorer becomes particularly interesting compared with some other Rolex sports watches.

At the time of writing, pre-owned Explorer I models on Wristler generally sit between roughly €6.000 and €10.500, depending on the reference, age, condition and whether you're looking at a complete set.

The discontinued 39mm reference 214270 can currently be found on Wristler from around €7.350, making it an interesting alternative to the latest references.

Modern 36mm and 40mm examples generally move higher as you get into younger, unworn or full-set watches.

And then there’s the two-tone.

If you want the 36mm Explorer 124273 in steel and yellow gold, expect to spend around €13.000 on Wristler. It’s a considerable step up from a pre-owned steel Explorer, but still gives you a relatively unusual modern Rolex configuration.

As always, exact prices move with condition, year, box and papers and the individual seller, so it’s worth comparing the current listings rather than focusing on one number.

Which Rolex Explorer should you buy?

If we had to simplify the entire decision, it would look something like this.

Want the classic Explorer? Buy the 36mm. Decide for yourself if you’re more of a vintage enthusiast or modern. That’s the difference between the 114270 and 124270.

Want the sweet spot between vintage proportions and modern sizing? Look for a 39mm 214270, preferably the Mark II if you want the longer handset and luminous numerals.

Want the biggest and most contemporary Explorer? Buy the 40mm 224270.

And if you've looked at all three and thought they were a little too sensible?

Well, that’s exactly why the two-tone 124273 exists.

There really isn't a bad option here. The important thing is that you shouldn't choose an Explorer purely by the diameter written on the spec sheet.

Try them on if you can.

Because the difference between 36, 39 and 40mm doesn't sound particularly dramatic on paper. On the wrist, however, these are three noticeably different interpretations of exactly the same idea.

And that might be the Explorer's biggest strength.

Rolex has changed the size, movements, bracelets and even added some gold along the way. But the formula itself has barely changed.

Black dial. Three hands. 3, 6 and 9.

Sometimes simple really is better.

Rolex Explorer I FAQ: Everything You Need to Know

Still not sure which Rolex Explorer is right for you? We get it. Although the Explorer I is one of the simplest Rolex sports watches, choosing between the different generations, sizes and references can make things slightly more complicated.

Here are the answers to the most frequently asked questions about the Rolex Explorer I.

What is the Rolex Explorer I?

The Rolex Explorer I is a three-hand sports watch originally developed with exploration and mountaineering in mind. It is known for its black dial, smooth bezel and characteristic Arabic numerals at 3, 6 and 9.

Unlike the Explorer II, the Explorer I doesn't have a date window or additional GMT hand. It's about as simple as a Rolex sports watch gets.

What sizes does the Rolex Explorer I come in?

Modern Rolex Explorer I models can be found in 36mm, 39mm and 40mm sizes.

The classic Explorer size is 36mm, which Rolex used for decades and reintroduced to the modern collection in 2021. The 39mm Explorer was produced between 2010 and 2021, while Rolex introduced the larger 40mm Explorer in 2023.

Today, Rolex offers the Explorer in 36mm and 40mm.

What is the difference between the Rolex Explorer 36mm, 39mm and 40mm?

The biggest difference is wrist presence.

The 36mm Explorer is compact, understated and closest to the traditional proportions of the model. The 39mm Explorer offers more presence while still being relatively restrained, making it a popular middle ground. The 40mm Explorer is the largest and most contemporary version.

There are also differences in movements, bracelets and details depending on the specific reference and year.

Is the Rolex Explorer 36mm too small?

For most wrists, no.

A 36mm watch is smaller than many modern sports watches, but the Rolex Explorer has relatively strong wrist presence thanks to its black dial and Oyster bracelet.

If you're used to 40mm+ watches, the Explorer 36 can initially feel small. Give it some wrist time, though, and you might understand why Rolex used this size for so many years.

For us, 36mm is still the classic Explorer size.

Is the Rolex Explorer 39mm discontinued?

Yes. Rolex discontinued the 39mm Explorer reference 214270 in 2021.

It was replaced by the 36mm reference 124270 when Rolex updated the Explorer collection. Rolex subsequently introduced the 40mm reference 224270 in 2023.

That means you'll need to look at the pre-owned market if you want a 39mm Explorer.

What is the difference between the Rolex Explorer 214270 Mark I and Mark II?

The 39mm Rolex Explorer 214270 was produced with two main dial configurations, commonly called the Mark I and Mark II.

Early Mark I watches have polished 3, 6 and 9 numerals without luminous filling and a shorter handset. The later Mark II version introduced around 2016 received luminous 3-6-9 numerals and longer hands that better fit the larger 39mm dial.

If you prefer the traditional Explorer look and stronger nighttime legibility, the Mark II is probably the one to get. The Mark I, however, has become an interesting variation in its own right.

Which Rolex Explorer I reference should I buy?

That depends mostly on the size and feel you're looking for.

The 114270 is worth considering if you want a relatively affordable 36mm Explorer with some neo-vintage Rolex charm.

The modern 124270 is our pick if you want traditional 36mm proportions combined with a modern movement, bracelet and clasp.

The discontinued 214270 is the one to buy if 39mm is your sweet spot, while the 224270 is best suited to buyers who prefer a modern 40mm sports watch.

And if steel is simply a little too sensible, there's always the two-tone 124273.

Is there a two-tone Rolex Explorer?

Yes. Rolex introduced the Explorer 36 reference 124273 in 2021.

The watch combines Oystersteel and 18k yellow gold, which Rolex calls Yellow Rolesor. The bezel, winding crown and centre links of the Oyster bracelet are made from yellow gold.

It's a very different take on what has traditionally been one of Rolex's most understated sports watches. And that's exactly why we find it interesting.

Does Rolex make a two-tone Explorer 40mm?

No. The current two-tone Rolex Explorer is only available in 36mm as reference 124273.

If you want a 40mm Explorer, the reference 224270 is produced in Oystersteel.

What is the difference between the Rolex Explorer I and Explorer II?

Despite sharing the Explorer name, they're very different watches.

The Explorer I is a simple three-hand watch with no date complication. The Explorer II is larger and features a fixed 24-hour bezel, date display and an additional 24-hour hand.

The Explorer I is the cleaner and more understated option. The Explorer II is the more complicated and visually distinctive tool watch.

Is the Rolex Explorer waterproof?

Modern Rolex Explorer models are water-resistant to 100 metres thanks to their Oyster cases and screw-down crowns.

That makes the Explorer more than capable of dealing with everyday use, rain and swimming. If you're actually looking for a Rolex specifically for diving, however, the Submariner or Sea-Dweller would obviously make more sense.

What movement is inside the Rolex Explorer?

That depends on the reference.

The 36mm reference 114270 uses Rolex calibre 3130, while the 39mm reference 214270 uses calibre 3132.

The modern 36mm 124270, two-tone 124273 and 40mm 224270 use Rolex's newer-generation calibre 3230, offering approximately 70 hours of power reserve.

Does the Rolex Explorer have a date?

No. The Rolex Explorer I doesn't have a date complication.

And we wouldn't want it any other way.

The lack of a date window keeps the dial symmetrical and is a big part of the Explorer's straightforward design. If you want an Explorer with a date, you'll need to look at the Explorer II instead.

Is the Rolex Explorer a good everyday watch?

Very much so.

In fact, we'd argue that the Explorer is one of the best everyday watches Rolex makes. It's robust, water-resistant, easy to read and considerably less flashy than models such as the GMT-Master II or Daytona.

Its simple design also means it works with pretty much everything.

One watch collection? The Explorer makes a surprisingly strong case for it.

Is the Rolex Explorer a good first Rolex?

Yes. The Explorer I can be an excellent first Rolex.

You get the Oyster case, Oyster bracelet, automatic Rolex movement and one of the brand's most recognisable dial designs without some of the attention that comes with wearing a Submariner, GMT-Master II or Daytona.

It's a Rolex for people who don't necessarily need everyone else to know they're wearing a Rolex.

Which we quite like.

Is a Rolex Explorer a good investment?

We'd buy an Explorer because you want to wear it, not because you're expecting it to pay your mortgage in ten years.

Certain discontinued references and configurations can become more collectible over time, and the discontinued 39mm 214270 is particularly interesting because it represents a relatively short chapter in the Explorer's history.

But prices can go up as well as down. Condition, originality, box and papers, production year and general market demand all influence the value of an individual watch.

Buy the right watch at the right price and enjoy wearing it. Anything else is a bonus.

Does the Rolex Explorer hold its value?

Rolex sports watches generally have strong demand on the pre-owned market, and the Explorer benefits from being part of that group.

That doesn't mean every Explorer will automatically increase in value. Reference, condition, age, completeness and purchase price all matter.

Discontinued models such as the 39mm 214270 can also behave differently from current-production watches because Rolex no longer makes them.

Which Rolex Explorer is best for a small wrist?

The 36mm Explorer is the obvious place to start.

Both the older 114270 and current 124270 offer compact proportions, although they feel noticeably different because of their cases, bracelets and clasps.

And the 36mm isn't exclusively for smaller wrists. Plenty of people with larger wrists simply prefer the traditional proportions.

Which Rolex Explorer is best for a large wrist?

If you have a larger wrist or simply prefer watches with more presence, we'd start with the 40mm Explorer 224270.

The discontinued 39mm 214270 is another excellent option if you want something between the classic 36mm and current 40mm.

As always, trying the different sizes on your wrist is far more useful than obsessing over a millimetre on a specification sheet.

Is the Rolex Explorer 39mm collectible?

Potentially.

The 214270 is interesting because it is currently the only 39mm Explorer Rolex has produced. Its 2010–2021 production run also gave us the distinct Mark I and Mark II configurations.

That doesn't automatically make every 214270 a future collector's item, but it gives the reference a clear place in the history of the Explorer.

And in the watch world, being the odd one out can sometimes be a very good thing.

Should I buy a Rolex Explorer 36, 39 or 40mm?

If you want the classic Explorer experience, we'd choose the 36mm.

If you think 36mm is too small but don't necessarily want a full 40mm sports watch, the discontinued 39mm 214270 is probably your sweet spot.

If you have a larger wrist or simply prefer contemporary proportions, go for the 40mm 224270.

And if you want the Explorer that breaks basically every unwritten Explorer rule, have a look at the two-tone 36mm 124273.

Whichever one you choose, you're getting the same basic formula that makes the Explorer so good in the first place: a black dial, an Oyster bracelet, three hands and those unmistakable 3-6-9 numerals.

Sometimes you really don't need more.