“Sorry, sir, we don’t serve Pepsi here anymore.” I have heard this before. Last time, I was presented with a disgusting hipster alternative, locally sourced and seemingly made of organic wastewater from small-batch sewage systems housing free-range rats. That’s what it tasted like to me, anyway. “Come on, no Pepsi or Coke?” We need at least one of them on the menu, don’t we?
Okay, I will admit that I almost exclusively drink water and coffee, so I am actually not all that bothered. But the watch world seems to be! Rumor has it that Rolex is discontinuing the GMT-Master II “Pepsi.” Social media, blogs, and forums are full of it, so we thought we’d bring you the news in a more level-headed, Fratello kind of manner. Let’s see what’s what.
Rolex GMT-Master ref. 6542 — Image: John Goldberger
A short history of the Rolex GMT-Master (II) “Pepsi”
Let’s start with the basics. “Pepsi” refers to the blue-and-red bezel on certain versions of the Rolex GMT-Master (II). As soon as Rolex releases a new model, we watch nerds feel a collective, uncontrollable urge to give it a nickname. Otherwise, how would people tell that we’re nerds, right? Pepsi is one of the OG nicknames, if you will. It makes sense, as the now-iconic blue-and-red bezel insert debuted on reference 6542 all the way back in 1955.
GMT-Master ref. 1675
Then, 1959 saw the introduction of the next-generation reference 1675. This generation remained in production all the way up until 1980. So, just in case you felt the current GMT-Master was due for an update, keep that impressive streak in mind. This product cycle would schedule the next Pepsi for 2039! In any case, after 1980, several so-called five-digit references followed, all still called GMT-Master. By 1982, Rolex had also introduced the GMT-Master II ref. 16760. The big news? It now featured an independently adjustable 12-hour hand. Oh, and a “Coke” bezel in red and black!
GMT-Master ref. 16750 — Image: Bulang & Sons
By 1989, a Pepsi version of the GMT-Master II debuted in reference 16710. This model stuck around until the first ceramic-bezel generation in 2007. Rolex introduced the reference 116710LN in 2007, with its glossy black ceramic bezel sweeping all colorful predecessors off the table. It wasn’t until 2014 that Rolex felt confident in its red-and-blue ceramic bezel insert, introducing reference 116719BLRO (Bleu Rouge) in white gold. The Pepsi was back! Then, in 2018, a steel version was introduced alongside the white gold model in reference 126710BLRO.
Image: The Watch Barn
Rumor has it…
Okay, now on to today’s rumors. If you recently directed your more sensitive ear towards the grapevine, you may have heard that the Rolex GMT-Master II ref. 126710BLRO is being discontinued. If you were otherwise engaged, allow me to offer a quick recap of what happened.
While the Pepsi models are still on Rolex’s website (at the time of publication), all blue-and-red-bezel references have been removed from authorized dealers’ websites. A source told me that Rolex allegedly informed its dealers that the Pepsi references are no longer available. Apparently, these references have been removed from the dealer order portal, confirming the news.
Image: The Watch Barn
Image: The Watch Barn
Image: The Watch Barn
Naturally, Rolex remains tight-lipped about the whole ordeal. The preowned market immediately responded, though. Chrono24’s sales data reports prices are up 5% over the past month. At the same time, listings are popping up priced up to 50% higher than last month’s average. It seems people are eager to take advantage, although it remains to be seen if those interested are willing to cough up such amounts.
Image: The Watch Barn
So, what’s next for the Pepsi?
Naturally, the rumor mill goes into predictions for what’s next for the Rolex GMT-Master II. Some predict we’ll get a minor update, potentially targeting the red portion of the bezel, which has been technically challenging to produce reliably. Others expect a full overhaul and a new-and-improved model. Some even expect a return to the Coke color scheme.
Interestingly, the GMT-Master celebrated its 70th birthday last year. You might argue that this was the ultimate occasion for a big update. Then again, Rolex doesn’t always play by the rulebook, does it? If the house felt it needed a little more time, it would take it. We also have historical precedence for a no-Pepsi era, as we have seen above. I would not put it beyond Rolex to simply discontinue its most coveted model and act as if nothing happened.
GMT-Master II 126710BLRO — Image: The Watch Club
If recent history teaches us anything, it is that Rolex does as Rolex does. With Watches and Wonders 2026 around the corner (April 14th), anything can happen. Will Rolex let the GMT-Master II steal the Day-Date’s shine on its 70th birthday this year? I am confident Rolex will release something completely unexpected and out of left field. Or it won’t, which would be equally unexpected and newsworthy. Argh…the Rolex bigwigs have us all dancing to their tune, don’t they?
What do you think Rolex will do after discontinuing the GMT-Master II Pepsi references? Let us know in the comments section below. And don’t worry; we’re straight back to fact-based reporting after this one rumor-based tangent. And me? I’m off for a glass of water!
Header image: The Watch Barn