GMT and Travel Watches Compared: Rolex GMT-Master II, Explorer II and Patek Philippe Travel Time

A GMT or travel watch shows two time zones at once, so a traveller can read local time from the main hands and home time from a second display without arithmetic. Rolex does it with a fourth hand and a rotating 24-hour bezel on the GMT-Master II, and with a fixed bezel on the Explorer II. Patek Philippe does it with two hour hands and pushers on its Travel Time models, the Aquanaut 5164, the Calatrava Pilot 5524 and the Nautilus 5990. Audemars Piguet's Royal Oak Dual Time has been discontinued and AP buyers now look pre-owned. This guide explains how the two systems work and which is easier to use, compares the current references on size, movement and price, covers the Rolex Sky-Dweller as the dual-time watch with a calendar, and lists what to check before buying. Bizak & Co. sources all of them to order; the GMT watches collection lists the references we can seek.

Last reviewed on September 21, 2026 by Filip Biczak. Prices are dated observations, not quotes.

How does a GMT watch work? Flyer and caller explained

Every dual-time watch adds a second hour display and a way to set it separately. The difference that matters is which hand jumps. On a "flyer" GMT, the kind a traveller wants, the main hour hand jumps in one-hour steps from the crown while the minutes, seconds and the 24-hour hand stay put, so on landing you advance local time in seconds and home time stays where it was. Every current Rolex GMT-Master II and Explorer II works this way, as does every Patek Philippe Travel Time, which jumps the local hour with pushers on the case instead of the crown. On a "caller" GMT, the cheaper design, the 24-hour hand is the one that adjusts independently; it is fine for checking the time in another office but clumsy for someone who is actually flying. The 24-hour scale can sit on a rotating bezel, as on the GMT-Master II, which lets a third zone be read by turning the bezel, or on a fixed bezel or dial track, as on the Explorer II and Patek's Travel Time, which show two zones only. The COSC chronometer standard underlies every Rolex movement in this guide.

Rolex GMT-Master II 126710: Batman, Pepsi and Bruce Wayne

The GMT-Master II is the reference travel watch. The current steel 126710 is 40 mm with the calibre 3285, 70 hours of power reserve, a jumping local hour hand and a bidirectional bezel with a two-colour Cerachrom ceramic insert. The colours have nicknames: blue and black is the "Batman" (126710BLNR), red and blue the "Pepsi" (126710BLRO), grey and black the "Bruce Wayne" (126710GRNR), and the two-tone brown and black 126711CHNR is the "Root Beer"; our watch nicknames guide explains the rest. Each comes on an Oyster or a Jubilee bracelet. On 21 September 2026 Bizak's sourced catalogue listed the Batman at US$16,274 on Jubilee and US$20,460 on Oyster brand new, with pre-owned examples from US$15,344, and the Pepsi at US$19,529 on Oyster and US$21,389 on Jubilee new, with pre-owned examples from US$18,134, all sourced to order. Our Batman guide, Pepsi guide and Bruce Wayne guide cover each in depth.

Rolex Explorer II and Sky-Dweller: the other Rolex travel watches

The Explorer II 226570 is the GMT-Master II's quieter sibling: 42 mm, the same calibre 3285 and jumping hour hand, but a fixed 24-hour bezel engraved in steel and an orange 24-hour hand. It shows two zones rather than three and reads as a tool watch, and it is easier to obtain at retail. Our Explorer II 226570 guide covers it. The Sky-Dweller, launched in 2012, is the Rolex for the traveller who also wants a calendar: 42 mm, with a second time zone on an off-centre 24-hour disc, an annual calendar that needs correcting once a year, and the Ring Command bezel that selects which function the crown adjusts. The catalogue listed the steel and white gold 336934 with blue dial at US$22,784, the rose gold 336235 at US$45,477 and the Everose 336935 between US$54,219 and US$76,670 on 21 September 2026. The Sky-Dweller's 24-hour disc is a caller-style display, but its local hour hand still jumps in one-hour steps, so it works for a traveller too.

Patek Philippe Travel Time: Aquanaut 5164, Calatrava Pilot 5524 and Nautilus 5990

Patek Philippe's Travel Time system uses two hour hands, one solid for local time and one skeletonised for home time, that sit on top of each other when you are at home. Two pushers on the left of the case advance or retard the local hand by one hour per press, and two small apertures show day or night for each zone. The date follows local time. The Aquanaut 5164, introduced in 2011, is the sports version: 40.8 mm with the calibre 324 S C FUS on a composite strap, in steel (5164A), white gold (5164G) or rose gold (5164R). On 21 September 2026 Bizak's sourced catalogue listed the 5164A at US$100,940, the 5164R at US$144,200 and the 5164G at US$177,109. The Calatrava Pilot Travel Time 5524, launched in 2015, puts the same movement in a 42 mm round case with luminous numerals and a calfskin strap; the catalogue listed the white gold 5524G between US$47,895 and US$61,187 depending on dial, and a pre-owned rose gold 5524R at US$59,433. The Nautilus 5990 adds a flyback chronograph to the Travel Time in the 40.5 mm Nautilus case; the rose gold 5990/1R was listed at US$314,149. The Patek Philippe Aquanaut collection page and Complications collection page list the current versions, and our Nautilus 5990 guide and Aquanaut 5167 guide go deeper.

Audemars Piguet: the Royal Oak Dual Time and what replaced it

Audemars Piguet's travel watch was the Royal Oak Dual Time, a 39 mm Royal Oak with a second time zone sub-dial, a day-night indicator and a power reserve, made in steel and gold through the 2000s and 2010s and since discontinued. AP has not put a straightforward GMT back into the mainstream Royal Oak or Offshore lines, so a buyer who wants an AP travel watch looks pre-owned for the Dual Time or considers the Royal Oak Offshore and Code 11.59 without a second zone. AP's collection page shows the current line. If the second time zone is the point of the purchase, Rolex and Patek are the two brands that make it in current production, and our Audemars Piguet price guide covers what the Royal Oak asks instead.

GMT and travel watches compared

Those figures describe what we saw and will move. Ask for a dated quote for the exact reference, bracelet and set; our Rolex price guide explains how to compare quotes.

Rotating bezel or day-night windows: which is easier to use?

The Rolex system reads more zones and takes longer to learn. Home time is the 24-hour hand against the bezel; with the bezel at its default position, the red or blue half tells you whether it is day or night at home. Turn the bezel by the offset of a third city and the same hand reads that zone too. The catch is that the 24-hour hand and bezel must be read together and the bezel can be knocked out of position. The Patek system reads two zones and is quicker: local time is the solid hand, home time the skeleton hand, and the two windows say day or night for each, so there is nothing to interpret. Setting is also easier on the Patek because the pushers move the local hand without pulling the crown, though the pushers must be unlocked on the Aquanaut. For someone who crosses one or two zones regularly, Patek's layout is the one you stop thinking about; for a pilot or a trader who watches three markets, the GMT-Master II's bezel does something the Patek cannot.

How much does a GMT watch cost, and does it hold value?

The steel GMT-Master II is the most liquid travel watch in the world and has traded above Rolex's list price since the ceramic-bezel models arrived in 2018, with the Pepsi and Batman leading; the gap narrowed through 2024 and 2025 but remained on 21 September 2026 in Bizak's catalogue. It is the reference to buy if you want a travel watch that can be sold at a known price on any day. The Explorer II carries a much smaller premium and is the value route to the same movement. The Patek Travel Time models are rarer and the steel Aquanaut 5164A has traded well above retail because steel Aquanauts are rationed; the gold 5164 and the 5524 behave more like ordinary gold watches and are often found pre-owned below their list price. The discontinued Royal Oak Dual Time has held steady as a collector's Royal Oak rather than appreciated sharply. The Phillips watch department results are the public record for the vintage GMT-Masters that have appreciated most.

Buying a GMT watch: what to check

• Jumping hour. With the crown in the first position, the hour hand should jump in one-hour steps while the minute hand and 24-hour hand stay still; on a Patek, each pusher press should move the local hand exactly one hour and flip the day-night window at the right moment.
• Bezel action. A GMT-Master II bezel should click in 24 even positions in both directions with no play; the Cerachrom insert should be unchipped with crisp platinum or gold-filled numerals. An Explorer II bezel is fixed and should show sharp engraving.
• Hand alignment. At noon home time the 24-hour hand should point exactly at the 12 on the bezel; a hand a fraction off has been fitted carelessly or the watch has been dropped.
• Bracelet and clasp. Check for stretch by holding the watch by the clasp; the Oysterlock and Easylink on a Rolex should snap, and the fold-over clasp on an Aquanaut should lock.
• Strap on a Patek. The Aquanaut's composite strap and the 5524's calfskin are consumables; an original strap in good condition adds to the price but a replacement is normal.
• Card and papers. Rolex and Patek both issue documents that cannot be reissued; the full-set premium on a Pepsi or a 5164A is large.
• Price against the band. A full-set Pepsi or steel Aquanaut Travel Time offered well under the market is the single most reliable warning sign.

Our authentication process describes what we inspect before dispatch, including the GMT function and bezel.

Quick answers

What is the difference between a GMT watch and a dual-time watch?

Both show two time zones. A GMT watch usually uses a 24-hour hand against a 24-hour scale; a dual-time or Travel Time watch uses a second 12-hour hand with a day-night indicator. Rolex uses the first system, Patek Philippe the second.

Which Rolex GMT is the best for travel?

The GMT-Master II 126710 with its rotating bezel reads three zones and is the most liquid; the Explorer II 226570 reads two zones with a fixed bezel and costs less. Both have the calibre 3285 with a jumping local hour hand.

Does Patek Philippe make a GMT watch?

Yes, called Travel Time: the Aquanaut 5164, the Calatrava Pilot 5524 and the Nautilus 5990 chronograph. Each has two hour hands, pushers to move the local hour and day-night windows for both zones.

Does Audemars Piguet make a GMT watch?

Not in the current mainstream Royal Oak line. The Royal Oak Dual Time, a 39 mm Royal Oak with a second time zone sub-dial, was discontinued and is now found pre-owned.

How much is a Rolex GMT-Master II in 2026?

Bizak's sourced catalogue listed the Batman 126710BLNR from US$15,344 pre-owned to US$20,460 new and the Pepsi 126710BLRO from US$18,134 pre-owned to US$21,389 new on 21 September 2026, all sourced to order.

Request a GMT or travel watch sourcing quote

Tell us the reference, bezel colour, bracelet, preferred year range and whether papers are required, plus your budget and timing, through our sourcing enquiry form. We confirm the specific watch, photographs, papers and final price before you commit. Catalogue entries: GMT-Master II Batman on Jubilee, GMT-Master II Pepsi on Oyster, Sky-Dweller 336934, Aquanaut Travel Time 5164A, Calatrava Pilot Travel Time 5524G; browse the GMT watches collection, the GMT-Master II collection, the Aquanaut collection, or sell or trade your GMT.

Related reading: GMT-Master II Batman guide · GMT-Master II Sprite guide · Explorer II 226570 guide · Nautilus 5990 Travel Time guide.