The Rolex Submariner 16610LV, also known as the “Kermit,” is seeing a major rise in value as watch collectors compete to add it to their collections. This model, launched in 2003 for the Submariner’s 50th anniversary, features a green bezel and black dial — a color combination that makes it instantly recognizable.
A Collector’s Favorite
The Kermit was once considered an affordable luxury timepiece. But today, prices have climbed sharply. As of mid-2025, the Kermit’s starting price is around $10,800. On the secondary market, however, it often sells for much more — typically between $15,000 and $35,000. Special early versions, known as “Flat 4” models, can go for even higher amounts.
What Makes the Kermit Special?
Collectors love the Kermit not just for its looks, but for its history. It was the last Submariner to have an aluminum bezel insert before Rolex switched to more durable ceramic materials. This detail adds to the watch’s charm and makes it a standout piece in the Rolex lineup.
The Rise of the “Starbucks” Model
Interest in green-bezel Submariners has also pushed up prices of the newer Rolex 126610LV, nicknamed the “Starbucks.” It has a green ceramic bezel and a slightly larger 41mm case. While its retail price is around $10,600, it often sells for $18,000 to $20,000 on the secondary market. Though still in production, it’s hard to find at retail due to high demand.
Smart Investments for Watch Collectors
Experts say both the Kermit and Starbucks models are strong investment choices. The Kermit is no longer being made and was produced in limited numbers. This scarcity has helped push up its value. The Starbucks, while newer, is also gaining attention and may increase in price if production stops.
The Rolex Kermit has gone from a special edition to a collector’s must-have. Its unique design, limited availability, and link to Rolex history make it highly desirable. With prices continuing to rise, the Kermit proves that some watches are more than just timekeepers — they’re valuable assets. Whether you’re investing or collecting, this green-bezel Submariner is one to watch.
