Omega Seamaster Professional GMT Ref. 2534.50.00 (1998–2006)

Good morning {{first_name|Reader}} and happy Friday eve.

Doing a deep dive today of a totally underrated watch from Omega. It’s hard to believe that this is considered “vintage,” as it made its appearance in 1998. Makes me feel old…

The GMT is the most superior watch complication and for that reason, we’re taking a look at the Omega Seamaster Professional GMT Ref. 2534.50.00. Enjoy.

— Ian

(see what watch I’m wearing today)

The Omega Seamaster Professional GMT Ref. 2534.50.00, introduced in 1998, represented a significant expansion of the Seamaster line at a time when Omega was cementing its reputation as a modern luxury tool-watch manufacturer. Often nicknamed the “Great White” when produced in white-dial form, this specific reference with its black wave dial (2534.50.00) offered something different: the rugged design and water-resistant confidence of the Seamaster Diver 300M, paired with the versatility of a dual-time zone complication.

Powered by the Omega Caliber 1128, a modified ETA 2892-A2 with GMT functionality, the watch allowed travelers to track a second time zone without sacrificing the design DNA that made the Seamaster Diver an icon of the 1990s. Its helium escape valve, scalloped bezel, and wave-pattern dial tied it visually to the James Bond-worn Seamaster 2531.80.00, but the added red GMT hand and 24-hour rotating bezel distinguished it as a traveler’s tool first and a diver’s companion second.

In retrospect, the Seamaster GMT of this era represents Omega at an interesting crossroads. While the Speedmaster dominated the brand’s heritage storytelling, the Seamaster line was carrying the commercial weight, boosted by Pierce Brosnan’s Bond films. The GMT models were never produced in Bond’s spotlight, but they offered enthusiasts something arguably more practical for daily use: a true travel watch with Omega’s professional finishing and water resistance. Today, the 2534.50.00 is celebrated as one of the more underappreciated Omega sports models of the late 1990s and early 2000s, offering collectors both accessibility and distinctiveness.

The Seamaster Professional GMT Ref. 2534.50.00 emerged during a transformative period for Omega. In the mid-1990s, the Seamaster Diver 300M line, introduced in 1993, became the face of the brand through its association with Pierce Brosnan’s James Bond in GoldenEye (1995). The blue wave-dial Diver 300M, Ref. 2531.80.00, exploded in popularity, positioning Omega as both a serious watchmaker and a cultural icon. Yet Omega knew the line had more potential than just dive watches.

By the late 1990s, global air travel was more accessible than ever, and demand for dual-time zone watches had risen sharply among business travelers and professionals. Rolex had long dominated the GMT category with the GMT-Master II, but Omega had not yet offered a serious competitor. The release of the Seamaster Professional GMT in 1998 was Omega’s answer—a watch that took the proven Diver 300M case design and infused it with a travel complication.

The design carried over many cues from its dive-watch siblings: a 41.5 mm stainless-steel case, wave-pattern dial, sword hands, and a helium escape valve at 10 o’clock. But the addition of a 24-hour GMT hand and a bidirectional 24-hour bezel redefined its use case. No longer just a diver’s companion, it became a multi-role tool for pilots, professionals, and adventurers.

Two main versions of the Seamaster Professional GMT were introduced: the black-dial Ref. 2534.50.00 and the white-dial Ref. 2538.20.00, the latter quickly earning the nickname “Great White” for its striking appearance. While the white variant often garners more collector attention today, the black 2534.50.00 represented the truest link between the Bond-era Seamaster Diver and this new category of professional sports watches.

Production ran into the mid-2000s, at which point Omega phased out the 1128-powered Seamaster GMTs in favor of co-axial movement models. The 2534.50.00 thus occupies a transitional role in Omega’s history: a watch that borrowed the commercial success of the Bond Seamaster, applied it to a broader set of professional needs, and offered collectors a distinctly Omega take on the GMT complication.

The Omega Seamaster Professional GMT Ref. 2534.50.00 was built on the familiar Diver 300M platform but subtly re-engineered to serve a dual purpose: dive watch and travel companion. Its stainless-steel case measures 41.5 mm in diameter, a half-millimeter wider than the standard Bond Diver of the same era, giving the watch slightly more wrist presence without feeling oversized. The case carries the hallmarks of the Diver 300M family: lyre lugs, alternating brushed and polished finishes, and the distinctive helium escape valve at 10 o’clock—retained more as a stylistic signature than a necessity for most wearers.

The dial is quintessential late-1990s Omega, with a black lacquered wave pattern providing texture and depth. Sword-style hands replace the skeleton hands of the Bond Diver, improving legibility, while the addition of a red arrow-tipped GMT hand brings both function and a splash of color to the design. Applied luminous markers ensure readability in low light, and the sapphire crystal’s anti-reflective coating enhances clarity under harsh conditions. The rotating bezel is bidirectional and marked for 24 hours rather than 60 minutes, enabling simultaneous tracking of a second time zone.

Inside, the watch houses the Omega Caliber 1128, a modified ETA 2892-A2 upgraded with GMT functionality. Beating at 28,800 vph and boasting a 44-hour power reserve, it was a reliable workhorse movement of the era, chronometer-certified for precision. While not co-axial, the 1128 was highly regarded for its robustness and accuracy, and it provided Omega with a flexible base that could be adapted for professional models.

The bracelet is the reference 1613/934 stainless steel “Bond” style, with five rounded links across that give the watch a distinctive presence and comfort on the wrist. It tapers gracefully toward the clasp, balancing weight and ergonomics for daily wear. Water resistance is rated to 300 meters, a specification that preserved the Diver 300M’s professional credibility even in this more travel-oriented configuration.

Taken together, the 2534.50.00 is a technical hybrid: a watch that retains the professional durability and aesthetics of the Diver 300M while introducing a complication that makes it as relevant in the airport lounge as it is on a dive boat. Its execution is practical, legible, and distinctly Omega—never a derivative of the Rolex GMT-Master, but a sibling to the Seamaster Diver with its own clear identity.

The Seamaster Professional GMT Ref. 2534.50.00 entered Omega’s catalog in 1998, during a period when the brand was dramatically scaling its manufacturing capabilities. By the late 1990s, Omega had modernized much of its production infrastructure in Biel, Switzerland, focusing on higher precision, chronometer certification, and quality control that could compete directly with Rolex. The 2534.50.00 benefitted from this renewed emphasis on consistency, as it was manufactured in significant numbers but retained the finishing and accuracy required to justify its professional tool-watch status.

Omega positioned the GMT as an extension of the Seamaster Professional Diver 300M line rather than as a standalone collection. This decision meant that many components were shared: the case architecture, bracelet design, and overall finishing echoed the Bond Diver, allowing for efficient production while introducing the new GMT-specific bezel and hand assembly. The Caliber 1128 was also an evolution rather than a ground-up movement, adapted from the tried-and-tested ETA 2892-A2 base to add a 24-hour hand and chronometer certification. This strategy allowed Omega to bring the GMT to market quickly and at a competitive price point.

Throughout its production run, which lasted until approximately 2006, the 2534.50.00 saw relatively few variations or transitional changes. Unlike limited editions or heavily marketed Bond models, the GMT was marketed more quietly, appealing to a niche of collectors who valued functionality and Omega’s modern tool-watch aesthetic. Its sibling, the white-dial “Great White” Ref. 2538.20.00, received more visible press and collector attention, which inadvertently kept the 2534.50.00 somewhat under the radar.

By the mid-2000s, Omega had committed to rolling out its proprietary co-axial escapement across the catalog. This transition spelled the end of the Caliber 1128 era. The Seamaster GMT models were discontinued and gradually replaced by co-axial GMT references, signaling Omega’s pivot toward in-house movements and a more aggressively positioned luxury identity. For that reason, the 2534.50.00 stands as one of the last classically “ETA-based” Omega GMTs, representing the brand’s final years of blending high-volume production with upgraded ébauches before moving fully into proprietary calibers.

The Seamaster Professional GMT Ref. 2534.50.00 remains one of Omega’s quieter sports models, and that relative anonymity has shaped its position in today’s collector landscape. While the white-dial Ref. 2538.20.00 “Great White” is often celebrated as the star of the late-1990s GMT lineup, the black-dial 2534.50.00 typically trades at slightly lower prices—on average 10 to 15 percent less—despite being technically identical. For many collectors, this makes it the more discreet and arguably more interesting choice: a travel watch that carries the full DNA of the Bond-era Diver but without the spotlight.

Market values today generally sit in the USD $2,200 to $3,500 range, with clean, full-set examples rarely climbing much higher. What sets this reference apart is not condition premiums—which apply to every vintage or discontinued watch—but its relative scarcity compared to its “Great White” sibling. Far fewer black-dial GMTs surface on the secondary market, suggesting that either production numbers were lower or more were simply worn hard and lost to time. That scarcity hasn’t yet translated into inflated prices, but it gives the model long-term appeal as collectors begin to re-evaluate overlooked Omegas of the late 1990s.

Another point of distinction lies in the movement. The Caliber 1128 was one of Omega’s last major ETA-based GMT calibers before the brand’s co-axial era began. As scholarship and collecting trends shift, these final pre-co-axial Omegas are increasingly viewed as the “last of their kind”—robust, easily serviceable, and historically significant as a transitional moment in the brand’s evolution. The 2534.50.00, in particular, offers a snapshot of Omega at that turning point: modern enough to feel contemporary, but still rooted in the pre-co-axial approach that defined much of the 20th century.

For now, the 2534.50.00 is a sleeper. It doesn’t command the premiums of a Bond Diver or the buzz of the “Great White,” but it offers collectors an authentic, practical Omega GMT with genuine scarcity and historical interest. In the long run, its under-the-radar status may prove to be its greatest strength—positioning it as one of the most quietly collectible Seamasters of its generation.

Unlike its Bond-worn sibling, the Seamaster Professional GMT Ref. 2534.50.00 never appeared on the silver screen, and that absence has largely defined its cultural identity. While the 2531.80.00 became a global icon thanks to GoldenEye and subsequent Bond films, the 2534.50.00 quietly carved out a niche among professionals who valued its practicality over its fame. It was the Seamaster for pilots, consultants, and travelers—those who needed a second time zone more than a cinematic spotlight.

Its timing was no accident. By the late 1990s, globalization had accelerated, and luxury watch brands were competing for the wrists of international travelers. Rolex had the GMT-Master II. Omega needed its answer. The 2534.50.00, alongside the “Great White,” was Omega’s declaration that the Seamaster line could serve not just divers, but also the modern traveler navigating a connected world.

Though the watch has often lived in the shadow of the Bond Seamasters, enthusiasts recognize its place in Omega’s broader story. As collector and journalist Robert-Jan Broer, founder of Fratello Watches, once remarked about the Seamaster GMT:

That balance—between functional expansion and brand continuity—explains why the GMT feels both familiar and distinct.

Today, the 2534.50.00 is remembered less for a cultural moment than for what it represents: Omega’s attempt to broaden its professional watchmaking identity at the cusp of the 21st century. While Bond wore the Diver, the GMT stood in as the companion piece for the traveler—the understated sibling in Omega’s most commercially important family of the era.

The Seamaster Professional GMT Ref. 2534.50.00 wears with a presence that feels both rooted in Omega’s Diver 300M lineage and distinctly its own. At 41.5 mm, the case balances well on most wrists, with the curved lyre lugs and smooth contours ensuring that it doesn’t feel overly heavy or cumbersome—even after extended wear. Enthusiast communities echo this sentiment: one collector on Reddit remarked, “thin case yet still 41 mm … best lume you will ever see on any watch.” It’s a reminder that while this is a robust sports model, it is also surprisingly refined on the wrist.

The black wave-pattern dial interacts with light in subtle, rewarding ways. In low light, the applied indices and sword hands dominate visually, offering clarity and utility. In brighter conditions, the wave texture surfaces, adding depth and visual interest. As one WatchUseek user put it, the combination of sword hands and proportions makes it “perfect wearable dimensions,” a succinct endorsement of the model’s legibility and balance in real-world use.

The red GMT hand cuts across the dial with confident contrast, reinforcing the model’s identity as a travel-capable Seamaster rather than simply a Diver with extra features. It’s a functional detail that adds both character and clarity, allowing the watch to feel equally at home in airports, conference rooms, and casual settings.

Bracelet fit and ergonomics are among the reference’s strongest qualities. The classic five-link “Bond-style” bracelet offers a taper that keeps the watch stable on the wrist, while the rounded links prevent the stiffness or pinching often associated with steel bracelets of the era. Combined with the modest case thickness, it creates a wearing experience that feels solid but never overbearing.

Ultimately, the 2534.50.00 doesn’t shout for attention. Instead, it offers a quieter satisfaction: the confidence of a 300-meter-rated tool watch paired with the convenience of a second time zone. It’s the Seamaster for those who value substance over spectacle—comfortable, capable, and endlessly adaptable to the rhythms of daily life.

The Seamaster Professional GMT Ref. 2534.50.00 represents a different kind of Omega—one that wasn’t chasing cinema glamour or collector hype, but rather offering a practical tool for a changing world. In the late 1990s, as international travel became more routine, the GMT brought Omega’s most successful sports design into a new arena. Wearing it today, that practicality still defines the experience. It’s a watch that works just as well on a business trip as it does on a dive trip, blurring categories in a way that feels quietly sophisticated.

For collectors, the 2534.50.00’s appeal lies less in spectacle than in balance. It has the proportions and presence of the Bond Diver, but its sword hands, red GMT arrow, and 24-hour bezel lend it a character that is less tied to pop culture and more to genuine utility. It’s Omega’s nod to professionals who wanted function first. Unlike the white-dial “Great White,” the black-dial GMT avoids loud statements and instead rewards those who prefer subtlety.

On the wrist, it doesn’t overwhelm. Its 41.5 mm case and tapering bracelet make it a companion rather than a burden, and its dual-time complication is as useful now as it was in 1998. The lume remains strong, the dial visually engaging, and the case construction still competitive with modern tool watches. There is comfort in knowing that, despite being out of production for nearly two decades, this watch still performs without feeling outdated.

The 2534.50.00 isn’t the Seamaster for everyone—and that is its strength. It’s for the traveler who wants Omega’s dive-watch DNA but with an added layer of practicality. It’s for the collector who values owning something less obvious, less Instagrammed, but no less significant in Omega’s late-20th-century story. And it’s for the wearer who appreciates substance over spectacle, a GMT that works hard without demanding constant recognition. In that sense, it is one of the most authentic expressions of what a professional sports watch should be.

The Omega Seamaster Professional GMT Ref. 2534.50.00 may never have shared the spotlight with Bond or commanded the cult status of the “Great White,” but that is precisely what makes it compelling. It is the quieter counterpart in Omega’s late-1990s portfolio—a watch that extended the Diver 300M’s DNA into a new category without fanfare. Its purpose was clear: to give travelers the same confidence divers found in the Seamaster, and to prove that Omega could compete with Rolex not only under water but across time zones.

Viewed in hindsight, the 2534.50.00 captures a transitional Omega. It embodies the final years of ETA-based calibers before the brand’s co-axial revolution, and it reflects a moment when Omega was refining its identity as both a volume powerhouse and a luxury innovator. The watch succeeded not because of hype but because it simply worked—rugged, versatile, comfortable, and quietly distinctive.

For today’s collectors, it stands as a sleeper: a GMT with character, scarcity, and genuine historical weight, yet without inflated pricing or celebrity baggage. Its charm lies in that balance. It doesn’t clamor for attention—it rewards the kind of collector who takes time to notice the details: the wave dial, the sword hands, the red GMT arrow cutting across a field of black.

In the end, the Seamaster Professional GMT Ref. 2534.50.00 is not just another footnote in Omega’s history. It is a marker of how the brand adapted to the demands of a globalized world, building a watch that could transition seamlessly from sea to sky, from dive boat to departure lounge. Its legacy is subtle, but enduring—and for those who understand it, deeply satisfying.