Rolex GMT-Master II 116748SA Black Dial Diamond Bezel 40mm

The Rolex GMT-Master II 116748SA is not a standard yellow-gold GMT with a decorative bezel added for effect. Its factory-set bezel uses graduated sapphires with diamonds at the cardinal positions, giving the familiar 24-hour layout a more jewellery-led appearance without removing the watch’s travel function. The 40mm yellow-gold case and Oyster bracelet create substantial wrist weight, while the black dial keeps the centre of the watch visually controlled. One important clarification is that this is not an all-diamond bezel: the reference is defined by its sapphire-and-diamond setting.

Colour Around the Bezel

The bezel is the feature that determines whether this reference will suit a buyer. Its sapphires move through different shades rather than presenting one flat colour, while diamonds separate the main points of the 24-hour scale. Under direct sunlight, the transitions become bright and obvious. Indoors, the stones appear deeper and the yellow-gold setting becomes more prominent.

Product photographs often overemphasise the brighter blue and yellow tones because gem-set surfaces respond strongly to studio lighting. On the wrist, the bezel can look darker and more integrated, especially in softer evening light. It remains unmistakably decorative, but it does not produce the uninterrupted sparkle of a fully diamond-set watch.

The Rolex GMT-Master II 116748SA therefore occupies an unusual middle ground. It is more expressive than a ceramic-bezel GMT, yet more structured than the fully pavé 116769TBR. Buyers should choose it because they genuinely enjoy coloured stones, not simply because it is a rare configuration.

Black Dial Control

The black dial provides the visual pause this watch needs. Its luminous hour markers, gold surrounds and gold hands remain familiar from other yellow-gold GMT-Master II references, allowing the dial to remain readable even when the bezel is catching strong light. Christie’s describes examples with a black dial, luminous markers and hands, while auction records confirm the yellow-gold case and factory gem-set bezel.

In ordinary indoor conditions, the dial can appear almost matte from a distance. Closer inspection reveals a cleaner, more reflective surface, but it never competes directly with the stones around it. This makes the watch easier to read than a diamond-pavé dial configuration. The black centre also gives the 116748SA greater versatility than its bezel initially suggests. It works with darker clothing and formal tailoring without appearing completely disconnected from the rest of the outfit. It is still a high-impact watch, but the dial prevents the design from becoming visually chaotic.

Forty Millimetres of Gold

The 40mm case uses the broader proportions associated with six-digit GMT-Master II references. Its wide lugs, crown guards and solid Oyster bracelet give it more wrist presence than older references such as the 16718. The diameter itself is manageable, but the full 18 ct yellow-gold construction makes the watch feel considerably heavier than a steel GMT of the same size. Phillips records the reference with a 40mm yellow-gold case, calibre 3186 and yellow-gold Oyster bracelet. Correct bracelet sizing matters. When worn too loosely, the heavy case shifts noticeably and can make the watch feel larger than it is. With a close, balanced fit, the bracelet distributes the weight more evenly and the case feels stable.

The polished centre links collect fine marks easily, while the gem-set bezel requires more caution than ceramic. This is not the ideal watch for rough travel, frequent desk contact or careless storage. Its proportions are sporty, but its surfaces encourage more deliberate ownership.

GMT Beneath the Stones

The Rolex GMT-Master II 116748SA is powered by the automatic calibre 3186 with 31 jewels. Its local hour hand can be adjusted independently in one-hour steps, allowing the wearer to change local time without disturbing the minutes or the 24-hour reference hand. Auction documentation consistently identifies the reference with calibre 3186.

The date is linked to the local hour hand, so moving through midnight changes the calendar in either direction. The 24-hour hand can remain set to home time, while the rotating bezel provides an additional timezone reference. Power reserve is approximately 48 hours, shorter than the reserve of current-generation GMT movements. For regular wear, that is adequate. In a larger collection, the watch may need resetting after a weekend off the wrist.

SA Versus SARU

The closest comparison is the 116748SARU. Both use a 40mm yellow-gold case, black dial, Oyster bracelet and calibre 3186. The difference lies mainly in the bezel. The 116748SA uses sapphires and diamonds, while the SARU adds rubies to recreate a red-and-blue GMT colour division.

The SA feels cooler and more tonal. Its sapphire range works naturally with the black dial and avoids the stronger red contrast of the SARU. The SARU is easier to recognise from across a room, while the SA rewards closer inspection. Collectors seeking the most iconic gem-set GMT appearance may prefer the SARU. Those who want something less literal and slightly easier to pair with dark clothing may find the 116748SA more balanced.

Who It Actually Suits?

This reference works best for an established collector who already owns conventional sports watches and wants a factory gem-set Rolex that still retains useful mechanics. It also suits someone comfortable with yellow-gold weight and visible colour.