For sale at Debonar Watches: pre-owned Rolex GMT Master ref. 16700, full set. 

This watch is also known as Rolex GMT Master "Pepsi", due to the characteristic color of its bezel.

As with most Rolex Professional watches, the GMT-Master ref. 16700 features the familiar dial layout comprised of luminous Mercedes-style hands and a mix of rectangular, circular, and triangular luminous indexes.

However, unlike other Rolex sports watches, the GMT-Master’s signature design detail is the existence of a red arrow-tipped 24-hour hand.

A bit of its story:
The GMT Master II 16710 was released by Rolex in 1989 until 2007.
Although the blue and red bezel is officially known as the BLRO (bleu/rouge, which is French for blue/red) it is more commonly referred to by its “Pepsi” nickname.

In 1988 ushered in the arrival of the GMT-Master ref. 16700 with a handful of developments such as sapphire crystal, a dial with applied white gold indexes, and a new movement.
However, it is interesting to note that Rolex already introduced the GMT-Master II model five years before the release of the GMT-Master 16700. Having both versions of the pilot’s watch available at the same time was just a matter of economics. The GMT-Master ref. 16700 offered an almost identical look to the GMT-Master II ref. 16710 model but at a lower price point.