The GMT-Master was originally a navigation tool tailored by Rolex for Pan Am pilots in the 1950s, and remains a legendary piece in the brand's flagship collection. The 1675 model, launched in 1959, was produced until 1980, spanning two decades.
However, this particular watch is far from ordinary—it boasts a rare gilt dial, its luminescent coating still gleaming with a warm amber glow in the dark; the blue and red colour scheme on the aluminium rotating bezel makes it instantly recognisable as a GMT Master, the contrast of blue and red always being my favorite colour combination. Even more precious is the double seal of Serpico Y Laino, Venezuela's top retailer, engraved on both the dial and the case back—this boutique once rivaled Rolex and Patek Philippe, holding an exclusive monopoly on the distribution rights of top Swiss brands in Venezuela.
It's important to understand that in the 1960s, these GMT watches were not luxury items, but rather practical "tool watches" for pilots and professionals. Annual sales were far lower than those of the gold and steel watches of yesteryear, and certainly not as astonishing as they are today. Therefore, it was common for a watch to complete its movement production in 1964, sometimes not being assembled and sold until 1965. Rolex relied on numerous component suppliers in its early days, making its scale incomparable to today's watchmaking giant.
The creation of Serpico y Laino jewelry is intricately intertwined with a history of Italian immigration across the ocean. In the early 20th century, goldsmith Vicente (Vincenzo) Laino left his hometown of Basilicata, penniless but full of hope, to seek a change in his destiny in the New World. Soon after arriving in Venezuela, he met his future partner, Leopoldo Serpico. Leopoldo, also of Italian descent, already ran a jewelry workshop called "Joyeria Serpico" in Caracas, specializing in sales and repairs. He immediately recognized Vicente's goldsmithing talent and was particularly impressed by his business acumen, so he proposed a partnership: Leopoldo provided the capital, and Vicente contributed his expertise. Thus, Serpico y Laino was born, destined to become a timeless landmark of luxury watches and jewelry in Caracas. This legendary retailer operated from 1925 to 1966, precisely during the golden age of Venezuela's oil economy. In other words, this GMT-Master sold in 1965 was almost a final swan song before the company's demise—the following year, this prestigious establishment was forever consigned to the annals of history echo
As a history student, I can't help but linger on these subtle details. The permanent closure of Serpico Y Laino in 1966 was not a single event, but a series of tragedies: the founders passed away one after another—Leopoldo Serpico died young, and his partner Vicente Laino passed away in 1959. Although their successors tried their best to keep the business afloat, they could no longer replicate the deep personal friendship and industry influence that the founders had with Swiss watch manufacturers (such as Hans Wilsdorf of Rolex); at the same time, in Venezuela in the 1960s, violent crime and political turmoil were surging like an undercurrent, and the wealthy Serpico and Laino families were repeatedly targeted by kidnappers, with members living in constant fear; and the final fatal blow came from a bomb attack on their "Oriental Jewelry Branch" (Joyería Sucursal del Este)—fire and smoke engulfed the entire store, inventory was reduced to ashes, and the lives of employees and their families were in grave danger. Thus, in 1966, the surviving family members made the painful decision: to liquidate the inventory, return the remaining stock to the Swiss headquarters, and permanently close the hall that had witnessed the dynasty's glory.
Serpico Y Laino thus entered history. Rolex subsequently tightened its policy on dual-signature dials, making such surviving treasures even rarer. Fortunately, these few watches still quietly pierce through the vicissitudes of time, silently binding that story of glory and collapse to our wrists, so that history is not merely faded ink on yellowed pages, but a tangible, palpable, and resonant.
I know I was supposed to stop buying after getting the Rolex 1655 Explorer 2. However, this watch is really irresistible. To be fair, I have indeed have to sell away three watches and trimmed my watch quantities to get this plus traded in a rare Rolex Explorer 1 6610. At the Rolex 6610 needs a longer time to clear the US customs, it has caused some delays. Nevertheless, this watch shall be my last huge purchase for the year.
Rolex "Asymmetrical / Stripe" Wood Box or "Stitch-Edge Leather" Box: Standard Stainless Steel (1675/1 Gilt Dial Era)
Outer Box: Texturized green or brown cardboard "stripes" pattern or plain cardboard outer sleeve, often featuring the small Rolex coronet.
Inner Box: Green or brown leatherette/faux-leather exterior with gold leaf/gilt foil embossing on the lid (Rolex logo/coronet).
Interior: Natural mahogany wood interior or velvet/suede lining with a central slotted display pad or flexible velvet cuff to hold the Oyster/Jubilee bracelet.
Reference Numbers (if stamped on base): Early inner box codes from this transition period often include 06.00.06 or 11.00.2. (Note: Many mid-60s boxes do not feature a bottom reference number at all).
For a 1965 stainless steel GMT-Master 1675 (typically featuring a glossy gilt dial and either late pointed crown guards or early rounded crown guards), the correct period-accurate inner box is:
