The Explorer is one of Rolex’s most storied tool watches, famed for its rugged simplicity and legibility since its 1953 debut.
Traditionally sized at 36mm, the Explorer carried this classic diameter for decades: the older Explorer 114270 (produced 2001–2010) and the current Explorer 124270 (launched 2021).
At first glance these two models appear nearly identical, both stainless steel Oyster watches with black 3-6-9 dials.
But under the surface a lot has changed.
In between these models, Rolex even produces a 39mm (ref. 214270 from 2010 until 2021) before returning to the 36mm format. This article compares the key technical and design differences between the 114270 and 124270, and discusses how the Explorer’s design philosophy evolved over time.
Evolution of the Explorer: From 36mm to 39mm and Back
In 2001, Rolex introduced the 114270 as an updated 36mm Explorer, succeeding the 14270. It retained the classic Explorer looks, but brought subtle upgrades. Notably it featured Super-LumiNova hour markers (replacing the tritium of earlier models) and solid end links in the bracelet for added durability.
The 114270 was powered by Rolex’s Caliber 3130 movement, it was revered as a robust, no-nonsense tool watch and remained in production until 2010.
In a significant break from tradition, in 2010, Rolex discontinued the 36mm Explorer and unveiled the Explorer 214270, often called the Mark I, with a larger 39 mm case.
Early versions of the Mark I drew criticism for dial design: the hands were slightly short for the larger dial, and the 3-6-9 numerals were applied in polished metal without lume, making it harder to read.
Rolex addressed this in 2016 with the Mark II update, extending the length and width of the hour and minute hands and adding luminescent fill to the numerals for better balance and night-time visibility.
In 2021, Rolex surprised enthusiasts by downsizing the Explorer back to 36 mm. The new 124270 brought the Explorer I “back to its roots” size-wise but packed the latest tech. It debuted alongside a Rolesor (two-tone) variant 124273, marking the first time ever that the Explorer was offered in a mix of steel and gold.
Both versions share the same new caliber 3230 movement and modernized design elements.
Collectors generally welcomed the return of the 36mm Explorer, seeing it as Rolex correcting course from the oversized trend. The 124270 remains in production as of today, carrying the Explorer legacy forward in its classic size.
Technical Upgrades: Movement and Performance
One of the most significant differences between the 114270 and 124270 lies in their movements.
The older Explorer 114270 is powered by the Caliber 3130—a rock-solid 28,800 VPH automatic movement with 31 jewels and roughly a 48-hour power reserve. It features a freesprung balance with Rolex’s Parachrom hairspring for resistance to shocks and temperature variation (a notable innovation in the early 2000s). .
The 39mm Explorer 214270 introduced the Caliber 3132, which essentially had the same base movement but with added Paraflex shock absorbers.
In the 124270, Rolex outfitted the Explorer with its latest-generation Caliber 3230, representing a major technological leap. This movement features Rolex’s Chronergy escapement and other innovations that extend the power reserve to about 70 hours.
The 3230 also incorporates a blue Parachrom hairspring and improved oscillator, making it even more resistant to magnetic fields and shocks.
Like all modern Rolex calibers, it is certified to an impressive –2/+2 seconds per day accuracy after casing. In practical terms, these upgrades mean the new Explorer can be taken off for a weekend without stopping, and it offers greater robustness in varied conditions.
While an everyday wearer might not feel the difference in accuracy or durability during normal use, the 124270’s movement is objectively superior on paper. This “future-proofing” of the Explorer’s internals ensures the watch meets modern expectations for performance.
Market Values
In terms of market pricing and demand, the Explorer I has traditionally been somewhat under the radar compared to Rolex’s headline models like the Submariner or GMT-Master. However, in recent years all things Rolex sport watches have seen a surge in demand.
The 36mm Explorers have become highly sought after for their versatility and history, and the discontinuation of the 114270 and 214270 means collectors must turn to the second-hand market for those.
As of 2024, the 114270 remains the most affordable of the trio, with pre-owned prices around the mid-$5,000s to $7,000 depending on condition.
The 39mm 214270, especially the later Mark II versions, often commands a bit more—roughly in the $8,000–$9,000 range—likely because it’s the only 39mm Explorer and had a relatively short production run.
Meanwhile, the current 124270 retails for around $7,000, but is difficult to obtain at authorized dealers. On the secondary market, it tends to sell for about $8,000–$8,500 or more.
Beyond prices, it’s worth noting production volumes and availability: The 114270 had a 9-year run and plenty were made, so finding one in good shape is relatively easy. The 214270 likewise had a decade of production, but early Mark I dials are fewer in number and may become a niche collector curiosity for their unique dial quirks.
The 124270 is still in production. But, like most modern steel Rolex sports watches, it faces waitlists, though it is not nearly as popular as the Submariner or Daytona, making it one of the more attainable sports models if one has patience and willingness to pay a slight markup.
Conclusion
In comparing the Rolex Explorer 124270 and 114270, we see a story of evolution. The fundamental design remains constant. What has changed are the movement technology, subtle aspects of fit and finish, and the options Rolex offers to enthusiasts.
The 114270 represents the classic era of Rolex. The 124270 represents the modern refinement of that formula: it revives the beloved size and aesthetics but infuses them with cutting-edge mechanics and contemporary build quality. Between them came the 214270, a watch that both challenged and ultimately reinforced the importance of the 36mm Explorer’s proportions.
Each reference has its own character, yet all uphold the Explorer’s reputation as a go-anywhere companion. Whether one prefers the vintage charm of the 114270 or the technical prowess of the 124270, it’s clear that the Rolex Explorer’s core identity endures—proof that sometimes the best way forward is, indeed, a return to form.
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