When Rolex launched the reference 16610LV in 2003 to celebrate the Submariner’s 50th anniversary, few buyers at authorized dealers paid over retail. Two decades later, the “Kermit” and its successor, the “Hulk” 116610LV, sit at the center of one of the most-discussed debates in modern Rolex collecting. This guide breaks down the two green Submariners the way an enthusiast actually thinks about them: case architecture, dial evolution, movement, wrist presence, and real secondary-market pricing as of 2026.
A Short History of the Green Submariner
The Submariner turned 50 in 2003, and Rolex marked the occasion not with a limited edition but with a permanent addition to the catalog. Reference 16610LV — the “LV” standing for “lunette verte,” French for green bezel — featured a black dial paired with a green aluminum bezel insert. Production ran from 2003 until 2010, when Rolex replaced it with the 116610LV during the Submariner’s full transition to the new 904L “Super Case.”
Why “Kermit” and “Hulk”?
Collectors gave the 16610LV the “Kermit” nickname almost immediately because of its black-dial / green-bezel frog-like look. When the 116610LV arrived at Baselworld 2010 with a green dial AND green Cerachrom bezel, the community needed a new name — “Hulk” stuck because of the all-green aesthetic and the chunkier case.
Case and Bezel: The Biggest Physical Difference
Both watches are nominally 40mm, but they wear completely differently.
Kermit 16610LV (2003-2010)
- 40mm case, slim lugs, 20mm lug width
- Aluminum green bezel insert (fades toward blue-green over time)
- Hollow end-link bracelet on early examples, solid end-links (SEL) by 2005
- 904L stainless steel from approximately 2004 onward
Hulk 116610LV (2010-2020)
- 40mm “Super Case” with wider lugs and thicker crown guards
- Green Cerachrom (ceramic) bezel — scratch-proof and UV-stable
- Glidelock clasp with 20mm of micro-adjustment
- Maxi dial with larger hour markers and broader hands
On paper the difference is 0mm. On the wrist, the Hulk feels at least 2mm larger because the Super Case fills the space between the lugs. If you have a 6.5-inch wrist, the Kermit is the easier daily wear.
Movements: 3135 vs 3135 (But Not Identical)
Both references use the Rolex caliber 3135, a workhorse introduced in 1988. However, the Hulk received the Parachrom hairspring and, in later production runs, the Chromalight lume (longer-lasting blue glow vs the Kermit’s earlier Super-LumiNova green). Power reserve is 48 hours on both, beat rate 28,800 vph, and both are COSC chronometer certified. The Hulk’s version is slightly more shock-resistant thanks to the Paraflex shock absorbers introduced around 2005.
Pricing in 2026: The Numbers That Matter
At launch, the Kermit retailed for roughly $4,700. The Hulk’s original 2010 retail was approximately $8,550, and by 2020 it had crept to $9,050 before Rolex discontinued it. Today’s secondary market tells a different story:
- Kermit 16610LV (fat four dial, early production): $17,000-$22,000
- Kermit 16610LV (standard): $13,500-$16,000
- Hulk 116610LV: $18,000-$24,000 depending on year and completeness
The “Flat Four” Kermit — named for the squared-off “IV” on early bezels — is the true grail variant and has sold at Phillips for over $30,000 in full-set condition.
Which One Should You Buy?
If you value vintage charm, a slimmer profile, and the possibility of aluminum bezel patina, the Kermit is the more characterful choice. If you want a modern daily wearer with a scratch-proof bezel and commanding wrist presence, the Hulk is unbeatable. Collectors who can own both often do — they scratch completely different itches.
Looking to explore green-dial Rolex options? Browse the Rolex Submariner collection and our full Rolex lineup at DR.WATCH. For buyers comparing ceramic vs aluminum bezels, see our guide to Rolex Coke vs Pepsi GMT bezel history.
FAQ
Is the Hulk discontinued?
Yes. Rolex discontinued the 116610LV in September 2020, replacing it with the 41mm 126610LV “Starbucks” featuring a black dial and green bezel.
Does the Kermit’s aluminum bezel fade?
Yes, and collectors love it. Early 16610LV bezels often fade to a teal or olive tone, particularly on watches that saw sunlight. Ghost-fade Kermits command premiums of $2,000-$4,000 over standard examples.
Can I swap a Hulk bezel onto a Kermit case?
No. The bezel diameters and click-spring designs are different. The Cerachrom bezel is also significantly thicker than the aluminum Kermit insert.
Which has better resale?
Both have outperformed S&P 500 returns over 10 years, but the Hulk peaked harder in 2022 and has corrected ~20%. The Kermit has been more stable, with steadier year-over-year appreciation.
