Rolex Explorer 36mm “First Two-Tone Explorer” Black Lacquer Dial Yellow Rolesor Smooth Bezel Oyster Bracelet 124273 | 2024 Full Set

The Explorer That Changed a 70-Year Tradition — The First Two-Tone in Explorer History

The Rolex Explorer is one of the most historically storied watches in the brand’s catalog. Born in 1953 to commemorate the first successful ascent of Mount Everest by Sir Edmund Hillary and Tenzing Norgay — both wearing Rolex watches — the Explorer was designed with a singular purpose: to be the most legible, most reliable, most robust wristwatch possible for use in extreme conditions. For nearly seven decades following its introduction, the Explorer was available in one material only: stainless steel. Then in 2021, Rolex introduced the reference 124273 — the first two-tone Explorer ever made, pairing Oystersteel with 18k yellow gold. This attracted particular attention as the first precious metal variant in the model’s history. The 124273 brought Yellow Rolesor to a model whose entire identity had been built on purposeful restraint — a bold and historically significant decision that expanded the Explorer’s appeal from pure tool-watch enthusiasts to buyers seeking a more distinctive and elevated interpretation of one of Rolex’s most purposeful models. This 2024 full-set example is one of the most current productions of this landmark reference.

Yellow Rolesor — The Explorer’s First Precious Metal Construction

This two-tone variant combines Oystersteel with 18k yellow gold for a more luxurious interpretation. With gold center links, crown, and hour markers, the 124273 expands the Explorer’s appeal beyond traditional tool watch enthusiasts. The 36mm case pays homage to the original Explorer’s proportions, combining a heritage-inspired size with contemporary refinement in a striking two-tone design of 18k yellow gold and 904L Oystersteel. Its construction ensures robust durability, making it equally suited for the peaks of the Himalayas or the polished floors of an office. The 904L Oystersteel of the case delivers the corrosion resistance and polish quality that defines Rolex’s proprietary steel advantage over the 316L used by most competitors, while the solid 18k yellow gold of the smooth bezel, crown, and bracelet center links adds warmth and precious metal character without the weight or cost of a full gold construction.

The Smooth Yellow Gold Bezel — Understated but Unmistakably Elevated

The smooth yellow gold bezel adds a touch of elegance, seamlessly balancing the watch’s rugged origins with a refined aesthetic. The smooth, polished domed bezel is the Explorer’s most important design choice — unlike the Datejust’s fluted bezel or the Submariner’s graduated ceramic bezel, the Explorer’s smooth bezel frames the dial without any additional visual complexity. In yellow gold on the 124273, this simplicity carries a quiet authority: the warm, polished gold of the bezel catches light naturally, adding warmth and prestige to the watch’s profile without drawing attention away from the dial below. It is precisely the kind of detail that rewards close inspection rather than announcing itself from across the room.

The Explorer’s Signature Black Dial — Clarity Above Everything

The Explorer 36 features the collection’s signature black dial with 3-6-9 Arabic numerals — a design that prioritizes legibility while establishing a distinctive aesthetic. The Explorer model’s characteristic 3, 6, and 9 numerals are filled with a luminescent material emitting a long-lasting blue glow, like the hour markers and hands. The black lacquer dial of the 124273 is identical to that of the all-steel 124270 — the same clean, purposeful layout developed for mountain and expedition use, carried forward unchanged into the two-tone reference. Applied 18k yellow gold hour markers replace the steel markers of the standard model, adding warmth and coherence to the Yellow Rolesor palette across the full dial surface. The combination of black lacquer, yellow gold markers, and the Chromalight-filled 3, 6, and 9 Arabic numerals delivers the clearest and most immediately legible dial in the current Rolex sport watch lineup.

The Yellow Rolesor Oyster Bracelet

Its two-tone Oyster bracelet, with polished and brushed finishes, provides comfort and versatility. Oyster, three-piece solid links in Yellow Rolesor — combination of Oystersteel and yellow gold — with folding Oysterlock safety clasp with Easylink 5mm comfort extension link. The three-piece flat-link Oyster bracelet continues the Yellow Rolesor material theme across the full wrist — brushed steel outer links flanking polished yellow gold center links — closing with the Oysterlock safety clasp and Easylink 5mm comfort extension for quick tool-free adjustment.

Powered by Caliber 3230 — The Same Movement as the No-Date Submariner

Perpetual, mechanical, self-winding — Caliber 3230, Manufacture Rolex — -2/+2 sec/day, after casing — Paramagnetic blue Parachrom hairspring — High-performance Paraflex shock absorbers — Bidirectional self-winding via Perpetual rotor — Approximately 70 hours power reserve. Rolex also outfitted the 36mm Explorers with the new Caliber 3230, a self-winding in-house movement incorporating Rolex’s patented Chronergy escapement and a blue Parachrom hairspring to protect against magnetic fields. The power reserve was also optimized with this caliber, increasing from 48 to 70 hours.

Condition & What’s Included

This 2024 example is in very good condition, working perfectly. Full set with original Rolex box, papers, warranty booklet, manual, hang tags, and all accompanying documentation. Authenticity is fully guaranteed. 14-day refund policy inclusive.

Shipping & Payment

This watch ships at $10,800 via FedEx insured. Leave a message for further details or additional photos.

Why This Reference Stands Out

Released in 2021, the ref. 124273 became the first two-tone Explorer, pairing Oystersteel with yellow gold for a slightly more elevated take on a traditionally all-steel tool watch. It still has the classic 3-6-9 dial with luminescent markers and that clean, no-frills layout. The 36mm case returns the Explorer to its original proportions, which just feel right on the wrist. Inside you’ll find the Caliber 3230, bringing modern performance to a design that’s been proven for decades. Secondary market data confirms the 124273 trading between $9,999 and $13,425 for full-set examples in very good to unworn condition. At $10,800 for a 2024 full-set piece in very good condition with FedEx insured shipping and a 14-day refund policy, this listing is positioned at one of the most competitive price points currently available for the first and only two-tone Explorer in the model’s history — a historically significant reference that offers Explorer DNA, Yellow Rolesor warmth, and Caliber 3230 technical capability in a 36mm package that wears as naturally at a mountain summit as it does on the trading floor.