It’s hard to justify paying astronomical premiums for stainless steel Rolex sports models that are still in production. There’s only one “modern” Submariner that truly deserves that level of attention; and it’s no longer being made: the 16610LV, better known as the “Kermit.”

Rolex is not a brand known for limited editions or anniversary tributes. Yet, in 2003, at Baselworld, it broke with tradition. To celebrate the 50th anniversary of the Submariner, Rolex unveiled the 16610LV, a special edition that injected a splash of color into the otherwise understated stainless steel dive watch. Its green bezel, inspired by Rolex’s corporate color, instantly set it apart from every Submariner that came before it.

The Kermit also introduced another important first: the Maxi dial. Featuring larger hour markers and hands, it laid the foundation for the design language of future Submariner generations. Produced for just seven years, from 2003 to 2010, the 16610LV has become one of the most collectible modern, dat I say “neo vintage” Rolex references.

As is often the case with Rolex, the model evolved through a series of subtle production changes. The earliest examples, carrying Y- and F-serial numbers from 2003 and 2004, are particularly sought after by collectors. The watch offered here is an F-serial from early 2004, known among enthusiasts as the “Mark 2” variation. It features the coveted olive-green “Flat Four” bezel insert, named after the distinctive flat top of the number 4 on the bezel.

The 40 mm case remains beautifully full and thick, paired with its original Oyster bracelet. The watch is offered as a complete set with its original box and papers.