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The Explorer 1 has a little more history, cachet, and desireability. Like the Speedy moonwatch, it holds some historical significance in horology. First watch to climb Mt Everest. Worn in one of the most grueling Antartica expeditions. It was also the first milestone sports SS chronometer in the early part of the 1950s. It also has Rolexes' patented twinlock crown mechanism.
The Seamaster 120, historically, was always a younger sibling to the Seamaster 300 and now the professional. Hence, it always has been overshadowed as the poormans' diver's Seamaster. They tried to gloss it over by using Jaque Mayol to push the line in the early 80s. However, despite this, he wears the SMP Pro. The Explorer 1 has no equal in the Rolex line. It stands alone because of its hallmark significance. Very much like the Speedy Pro. Both watches have been undilluted and been faithful to their followers. Like the Speedy, entire books have been written about the Explorer. It has a cult following.
A 40 year old Explorer 6610 fetches for roughly around $4,000 USD.Prices have increased by 5% annually. A 1965 Seamaster 120 fetches for around $300.
Sure resale is not important but I think the Seamaster 120 is more of a dress watch than a sports watch. If thats what you like then fine.
I don't know about the SM120 but the explorer looks equally attractive on a bracelet, leather strap, and a NATO strap. On the bad side, Walt Oldets didn't like it too much so he wrote a very disparaging article on it.
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H Doan
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