Despite the 100m water resistance on this Rolex GMT-Master II reference 116769TBR, one would be cautioned against wearing it for diving or even casual swimming in the ocean, as the glimmering and glinting gold and diamonds would certainly attract hungry predators. Set with over 30 carats of flawless round-cut diamonds, as well as invisible-set baguette diamonds to the bezel and center links of the bracelet, this lavish GMT-Master II fittingly earned the nickname “Ice” upon its release in 2007. Now discontinued with extremely limited production, no other example of the reference has previously appeared at auction, reiterating its rarity and exclusivity.

The only surfaces free of diamonds are the edges of the bezel, the crown, and the reverse of the case and bracelet. Otherwise, diamonds reign supreme on the majority of the visible surfaces of the 116769TBR. The ultimate flagship, most expensive Rolex ever at the time of its release, it maintained that distinction for over a decade, being upstaged in the past few years by some off-catalogue Rolex offerings. Blackened white gold surrounds on the handset give legibility to the dial, which is complemented by aquatic, wavy pavé stripes. Unusual and rarely seen in Rolex gem-set watches, even the sides of the bracelet are pavé diamond-set as well.

Weighing just over half a pound, in exceptional condition and with its original guarantee and boxes, the GMT-Master “Ice” is a wearable feast for the eyes, splendidly extravagant and unabashedly luxurious.