2004 Rolex Lady Yacht-Master ref. 169623 automatic wristwatch in two-tone stainless steel and 18K yellow gold, featuring a rotatable yellow gold graduated bezel, gray dial with gold luminous dot hour markers, date display, and an Oyster bracelet with Rolex crown deployant clasp. 29mm case; bracelet fits approximately 6 inches; no box or papers; 9/10 condition.

The Lady Yacht-Master 169623 is the ladies 29mm version of Rolex's nautical sport collection, combining the functional rotatable bezel of a professional dive and sailing instrument with the luxury finish of an 18K yellow gold bezel, gold center bracelet links, and a brushed stainless steel Oyster case that resists water and wear equally well. The gray dial — also referred to as rhodium in Rolex nomenclature — provides a cool, neutral backdrop that allows the warm gold indices and hands to stand out with exceptional contrast and legibility. The signed Oysterlock deployant clasp visible on the caseback view features the embossed Rolex crown, confirming complete authenticity throughout every component of the watch.

The Rolex Yacht-Master was introduced in 1992 as Rolex's tribute to the world of competitive sailing, designed to combine the rugged water resistance and rotating bezel functionality of the Submariner with a more refined, precious metal aesthetic suited to life both on and off the water. The two-tone steel and gold configuration became one of the most sought-after references in the collection, offering the prestige of yellow gold at a more accessible price point than the all-gold models while delivering the same Rolex build quality and COSC-certified movement accuracy. The Lady Yacht-Master in the 29mm size represents the perfect balance of sport credibility and everyday elegance — small enough for a refined wrist, substantial enough to make a statement. Collectors and watch enthusiasts prize the 2004-era references for their warm gold bezel tone, the understated gray dial, and the overall condition quality that a well-preserved example like this one at 9/10 represents in the pre-owned market.