Reference:16610LV
Submariner → 16610LV
The 16610LV is the Kermit. That is what collectors call it, and the name has stuck firmly enough that “Kermit” appears in major auction house literature alongside the reference number. Rolex released it in 2003 to mark the 50th anniversary of the Submariner at BaselWorld, and it ran until 2010 when the ceramic-bezel 116610LV took over. The LV in the reference number stands for Lunette Verte (green bezel in French).
The black aluminum insert had been standard across the Submariner line for decades. The green insert broke that continuity as a deliberate anniversary statement, and it is the external feature that the Kermit is remembered for.
Core facts
| detail | value |
|---|---|
| reference | 16610LV |
| nickname | Kermit |
| family | Submariner Date |
| production | autumn 2003 to 2010 |
| introduced | BaselWorld 2003 (50th anniversary of the Submariner) |
| movement | caliber 3135, COSC, 28,800 vph |
| case | 40mm, 904L steel, no drilled lug holes |
| crystal | sapphire with Cyclops, LEC present from introduction |
| water resistance | 300m / 1000ft |
| crown | Triplock screw-down |
| bezel | unidirectional 60-click, green anodized aluminum insert |
| dial | black, Maxi dial (enlarged lume indices, wider hands than standard 16610) |
| lume | Super-Luminova |
| bracelet | Oyster ref.93250, solid end links (SEL), Oysterlock clasp |
| first delivery serials | Y serial (2001–2002 range); also early F serials (Oct–Dec 2003) |
| successor | 116610LV “Hulk” |
Where it sits in the line and why it matters
The 16610LV is a platform variant of the 16610 rather than a separate design. Case, movement, crystal, crown, and bracelet are identical across the two. The external differences are the green aluminum bezel insert and the Maxi dial with enlarged hour indices and slightly wider hands, and those two changes are enough to make the Kermit a distinct collecting story.
The green bezel Submariner lineage runs:
- 16610LV Kermit (2003–2010): green aluminum bezel, black dial
- 116610LV Hulk (2010–2020): green ceramic bezel, green dial
- 126610LV Starbucks (2020–present): green ceramic bezel, black dial
The Kermit is the founding member of that run and the only one built on an aluminum bezel. The ceramic Hulk and Starbucks cannot be confused visually with the Kermit, which is exactly why the Kermit carries a distinct authentication problem covered below: a 16610 with an aftermarket green insert can pass for a Kermit in ways a steel 16610 never could for a 116610LV.
Per the Vintage Rolex Field Manual, the 16610LV was the first Submariner with enlarged lume indices. This Maxi dial format later became standard on the 116610LN and all subsequent Submariner references. The Kermit is the original application.
Production outline
First delivery and early serials
The 16610LV was introduced at BaselWorld 2003, with first deliveries in autumn 2003. The Vintage Rolex Field Manual documents that the first examples went out with Y-serial numbers. Y serials correspond to the 2001 to 2002 production band in the Rolex sequential serial system; these movements were produced earlier and held for the anniversary release. Additional first-delivery examples carried early F serials from October to December 2003 as the watch moved into regular retail.
Y-serial Kermits look odd only if the buyer expects case production and retail sale to happen at the same time. Rolex did not work that way. A 2003-sold watch with a Y-serial case is normal.
Collectors specifically seek Y-serial Kermits as the earliest production examples of the reference and the first green-bezel Submariners ever delivered. An F-serial Kermit from the same autumn 2003 delivery window also counts as an early example and is priced accordingly.
No drilled lug holes
The 16610LV arrived without drilled lug holes. By 2003, Rolex had already removed lug holes from the standard 16610 (about the same time). No standard production 16610LV examples exist with drilled lug holes. Prototype examples with drilled lug holes were given to Rolex executives and are not production pieces. Drilled lug holes on a 16610LV are either a rare executive prototype or a sign of case fraud.
Bezel variants: Flat Four and Pointed Four
The 16610LV bezel insert changed during the run, and the Flat Four versus Pointed Four split is still the quickest way to sort early from later bezel generations.
Bezel color evolution
The green aluminum bezel insert was not a single uniform shade across the seven-year run. Rolex Forum collectors have documented a progressive color evolution:
- Y-serial (~2003 delivery): bright lime green with a metallic finish
- F-serial (~2004–2005): pure green metallic
- D-serial (~2005–2006): lighter lime tone
- Z-serial (~2006–2007): lighter green
- M-serial (~2007–2008): deepest green, non-metallic finish
The overall trajectory moved from a bright, metallic lime green on the earliest examples to a deeper, flatter green on late production. Two original, unfaded Kermit bezels from different production years may look noticeably different, a point that matters both for authentication and for understanding why bezel appearance varies across genuine examples.
Dial variants: seven marks (MK I through MK VII)
Rolex Forum research, particularly the classification work by JBP (VRF) and Mondani, identifies seven distinct dial marks across the 16610LV production run. The identification points are subtle: the shape of the “O” in ROLEX (oval versus round), the positioning of the “R” in “Oyster” relative to the “R” in “Rolex,” the number of tick marks spanned by “SWISS MADE” at 6 o’clock, and the presence or absence of rehaut engraving.
JBP (VRF) and Mondani use different classification systems. JBP combines dial and bezel variants into a single numbering scheme (a “Mark” in JBP’s system may refer to a dial-and-bezel combination). Mondani classifies dials only. The summary below follows the combined approach, noting bezel type where it is part of the Mark definition.
- MK I: Oval “O” in ROLEX. “SWISS MADE” at 6 o’clock spans about 5 tick marks. Flat Four bezel. Serials about Y96xxxx to F47xxxx (~September 2003 to June 2005). The earliest production configuration.
- MK II: Transitional. Variations in “O” shape and “R” positioning distinguish it from MK I. Still paired with Flat Four bezel. Limited serial window.
- MK III: Further transitional variation. Subtle differences in letterforms from MK II. Still Flat Four bezel era.
- MK IV: Oval “O” in ROLEX. The “R” in “Oyster” sits directly under the right foot of the “R” in “Rolex.” “SWISS MADE” spans about 3 tick marks. Pointed Four bezel. Appears from about July 2005 onward.
- MK V: Round “O” in ROLEX (a visible change from the earlier oval). Variations in “R” positioning and minute marker details distinguish it from MK IV.
- MK VI: Round “O.” Further variation in “R” positioning and marker details from MK V.
- MK VII (final): Round “O” in ROLEX. Serial number engraved on the inner rehaut, the defining feature that separates MK VII from all earlier marks. Appears from about August 2008 onward and runs through end of production.
The progression from MK I through MK VII tracks the full production run. Early marks (MK I especially) carry the strongest collector premiums. MK VII, with its rehaut engraving, is the easiest to identify and represents the final production specification.
A full taxonomy requires side-by-side comparison of dial printing under magnification. Forum threads with high-resolution macro photography are the primary reference for these distinctions. Casual identification is reliable only for MK I (Flat Four bezel, oval O, wide SWISS MADE) and MK VII (rehaut engraving). The intermediate marks require experienced eyes.
“Franken” warning
The secondary market for the 16610LV carries a real Franken-watch risk. The many dial and bezel generations make it easy to build a plausible-looking but wrong watch, so the dial, bezel, and serial all have to agree before the buyer pays a variant premium.
Authentication — bezel swap fraud
Bezel-swap fraud is one of the most significant authentication concerns in the modern Submariner market and deserves explicit attention before any purchase.
The green aluminum bezel insert from the 16610LV fits on a standard 16610 case. A 16610 fitted with an aftermarket green bezel insert can be presented as a 16610LV at a premium price. The fraud is common. The countermeasure is simple but must be applied consistently.
Authentication of a 16610LV starts with the caseback, then the Maxi dial, then the papers, and only then the bezel. That order matters because the green insert is the easiest part to fake or swap.
The ceramic 116610LV Hulk cannot be faked this way. Its Cerachrom bezel cannot be swapped without obvious mechanical disruption. This closed the fraud vector for the successor but increased scrutiny on aluminum-bezel Kermits.
Y-serial authenticity verification
The Y-serial Kermit is the most collectible tier and consequently the most scrutinized. The Y-serial production timeline is explained in “First delivery and early serials” above; a Y serial with a 2003 purchase date is the expected pattern, not an anomaly.
One specific fraud vector is worth checking. A Y-serial watch with a worn or service-replaced bezel deserves careful examination, since the Y serial could come from a legitimate early movement or could indicate a case swap. Verify: caseback engraved 16610LV with Y-range serial, matching movement serial, original green bezel with natural aging, and ideally a full set confirming 2003 purchase. A single element out of alignment may be innocent, but each gap requires a separate explanation.
Movement notes
The 16610LV uses caliber 3135, identical to the standard 16610; nothing about the movement is specific to the anniversary variant. COSC chronometer certification applies throughout the run.
Dial map
The dial is glossy black in the Maxi format, with white-gold surround markers and a date window at 3. Super-Luminova throughout the run; no tritium dial ever appeared on this reference.
Case, bezel, crystal, and crown
Case, crystal, and crown are identical to the contemporary 16610. The LEC (Laser Etched Crown) in the sapphire crystal was present from the first deliveries; the 16610LV arrived already in the post-2003 anti-counterfeiting configuration.
The bezel insert is green anodized aluminum rather than the Cerachrom ceramic that arrived with the 116610LV Hulk in 2010. The green color fades with time under UV and physical wear, a known aging characteristic of anodized aluminum.
Bezel fading and authentication
Factory green anodized aluminum bezels fade through UV exposure and physical wear over years of use.
A correctly faded Kermit bezel shows even lightening across the green field, shifting toward a lighter green or grayish-green while the numbers and dive-scale markings remain legible. That is honest wear. Complete fading to pale gray or near-white is more extreme and uncommon; it signals heavy sun exposure over many years.
A service replacement bezel insert is the primary alternative. The giveaway is a saturated, uniform, new-looking green, vivid and consistent in a way that a 2003 watch should not exhibit unless it was stored unworn or the insert was replaced. A service insert with thin-font Luminova plots is an obvious replacement. A service insert with correct thick-font printing but new condition is a subtler tell but still detectable against a correctly worn original.
Collectors prefer authentic worn bezels to replaced ones. A replaced insert, even one fitted by Rolex, requires disclosure. The pearl at 12 o’clock sits in the green field rather than the black field of the standard 16610.
Bracelets, end links, clasps, and packaging notes
The 16610LV uses the 93250 Oyster bracelet with solid end links throughout its production run. Stamped end links never appeared on this reference. The clasp is the standard diver’s extension Oysterlock of the era, not the Glidelock system that arrived on the 116610.
Packaging follows the Rolex period standard for 2003–2010. Boxes, papers, and hang tags from this era are well-documented in the market. Complete examples are strongly preferred, both for market value and for authentication confidence.
Collectibility and market position
The Kermit commands a consistent premium over the standard 16610, driven by its shorter production run (~7 years versus 23), anniversary significance, and the verified-original premium created by the bezel swap problem.
Within the reference, the most collectible tier is the Y-serial early delivery group, followed by early F-serial examples. Mark I Flat Four dials carry a premium over later marks, consistent with the general pattern where the first production configuration is most prized. Sotheby’s names the Kermit, Hulk, and Starbucks as a recognized collecting lineage.
Sources
- The Rolex Submariner: A Complete Collector's Guide — Stephen Pulvirent, Sotheby's
- History of the Rolex Submariner - Part 2, The 55XX References and 1680 Date — Tom Mulraney, Monochrome
- The Vintage Rolex Field Manual — Colin A. White, Morning Tundra