What defines the Rolex Explorer
The Explorer is Rolex's plainest tool watch. Since 1953, it has paired a black dial and 3-6-9 numerals with a steel Oyster case and no date. The Explorer II, launched in 1971, adds a date, an orange 24-hour hand and a fixed 24-hour bezel. Both are built for hard use rather than display. As a result, the Explorer price has stayed closer to retail than most steel Rolex sports models.
Buyers tend to come to the Explorer after looking at a Submariner or GMT-Master II. Usually, they want the same build quality without the bezel, the premium or the waiting list. Rolex's own Explorer collection page lists the current models.
Every Explorer reference compared
We cover four current references and two recent discontinued ones. Each links to a full page with specifications, prices and authentication checks, so you can go deeper on any one.
Explorer 36 124270
The 36 mm steel Explorer with calibre 3230. Trades close to its US$7,900 list price.
Explorer 40 224270
The 40 mm steel Explorer from 2023. Same calibre 3230 as the 36, for larger wrists.
Explorer II 226570
The 42 mm Explorer II with calibre 3285, orange 24-hour hand and the white Polar or black dial.
Explorer 36 Rolesor 124273
The only two-tone Explorer: steel and 18k yellow gold, 36 mm, and a deep discount to retail pre-owned.
Explorer 39 214270
The only 39 mm Explorer (2010–2021). Mk1 and Mk2 dials, calibre 3132, a strong pre-owned buy. Discontinued
Explorer II 216570
The 2011–2021 Explorer II: 42 mm, calibre 3187, orange 24-hour hand. The value way into a Polar. Discontinued
Rolex Explorer price: retail vs pre-owned
The table below compares each Explorer price at retail with its pre-owned bands in October 2026. The last column shows how far the excellent-condition midpoint sits above or below list.
| Reference | Retail | Unworn, full set | Excellent, B&P | Good, no papers | Mid-band vs retail |
|---|---|---|---|---|---|
| Explorer 36 124270 | US$7,900 | US$8,600 – US$9,700 | US$7,500 – US$8,700 | US$6,400 – US$8,000 | +3% |
| Explorer 40 224270 | US$8,350 | US$9,200 – US$10,500 | US$8,200 – US$9,300 | US$7,000 – US$8,600 | +5% |
| Explorer 36 Rolesor 124273 | US$14,600 | US$11,000 – US$12,500 | US$9,800 – US$11,500 | US$8,300 – US$10,600 | -27% |
| Explorer II 226570 | US$10,600 | US$12,500 – US$14,000 | US$11,000 – US$13,000 | US$9,400 – US$12,000 | +13% |
| Explorer 39 214270 | US$6,550 | US$8,500 – US$10,000 | US$7,000 – US$8,500 | US$6,000 – US$7,800 | +18% |
| Explorer II 216570 | US$8,350 | US$10,000 – US$11,500 | US$8,400 – US$10,300 | US$7,100 – US$9,500 | +12% |
Retail is the current (or last) US list price. Pre-owned bands are rounded market ranges for October 2026; MYR ≈ USD × 4.08.
| Reference | Size | Metal | Bezel | Calibre | Malaysian retail |
|---|---|---|---|---|---|
| Explorer 36 124270 | 36 mm | Oystersteel | Smooth, polished | 3230 | RM34,350 |
| Explorer 40 224270 | 40 mm | Oystersteel | Smooth, polished | 3230 | RM36,250 |
| Explorer 36 124273 | 36 mm | Yellow Rolesor | Smooth, 18k gold | 3230 | RM63,200 |
| Explorer II 226570 | 42 mm | Oystersteel | Fixed, 24-hour engraved | 3285 | RM46,050 |
Which Explorer should you buy?
Start with wrist size. The Explorer 36 124270 suits wrists up to about 17 cm, while the Explorer 40 224270 suits larger ones. Both trade close to retail. So, for these two, the dealer Explorer price is usually the one to pay.
If you travel, the Explorer II 226570 adds a second time zone. Its white Polar dial holds value best in the family. By contrast, the two-tone Explorer 124273 loses a large share of its list price, so buy it pre-owned. For value, the discontinued Explorer 39 214270 and Explorer II 216570 offer the same looks for less, with older movements.
Still undecided? Read Explorer vs Explorer II or Air-King vs Explorer. Our first Rolex buying guide also places the Explorer among other entry points.
Buying an Explorer in Malaysia
In Kuala Lumpur, authorised dealers such as Cortina Watch and The Hour Glass confirm the ringgit list prices above. Those prices include sales tax, which is why they convert above US list. Because Explorer waits are short, the local grey market adds little premium for steel models.
Meanwhile, pre-owned Explorers appear often on local marketplaces and forums, and each Explorer price there needs checking against our bands. Prices there are usually quoted in ringgit with few details, so always confirm the reference, dial and papers. Singapore dealers can be cheaper; still, remember travel costs and declaration at the border. For context on premiums, see our retail vs market price guide and the used Rolex price guide.
Authentication notes for the Explorer family
In short, every Explorer and Explorer II we cover has a plain, screw-down caseback, an engraved rehaut with the serial at 6, and a laser-etched coronet in the crystal. However, the two lines differ in one easy check. The Explorer has no crown guards, while the Explorer II does. Also, the Explorer has no date, so a Cyclops lens on an "Explorer" is a fake. Our real vs fake Rolex guide covers the full process.
Rolex Explorer FAQ
How much is a Rolex Explorer in Malaysia?
In October 2026, Kuala Lumpur authorised dealers list the Explorer 36 at RM34,350 and the Explorer 40 at RM36,250. The Explorer II costs RM46,050, and the two-tone Explorer 36 costs RM63,200. These prices include local sales tax.
Is the Rolex Explorer underrated?
Many collectors think so. It shares the same calibre 3230 as the Oyster Perpetual and Air-King, has 100 m water resistance and a long expedition history. Yet it trades near retail, while steel sports models with bezels command large premiums. For the money, it is one of the strongest steel Rolex buys.
Which Explorer holds its value best?
The Explorer II 226570 with the white Polar dial currently trades furthest above retail. The steel Explorer 36 and 40 sit close to list. By contrast, the two-tone 124273 sells well below its retail price.
Is the Explorer II bigger than the Explorer?
Yes. The Explorer II is 42 mm, against 36 or 40 mm for the Explorer. It also adds a date, a 24-hour hand, a fixed engraved bezel and crown guards. Our Explorer vs Explorer II comparison covers fit in detail.
Is it hard to buy a Rolex Explorer at retail?
Less so than most steel Rolex sports models. In 2026, waits for the Explorer 36, Explorer 40 and Explorer II are usually short. That availability is exactly why their grey-market premiums stay small.
Last updated . Written and fact-checked by the Rolex Malaysian editorial team. Specifications and prices are re-checked quarterly.