Summary (tl;dr)

Rolex has officially discontinued its highly sought-after "Pepsi" GMT-Master II models, both in stainless steel and white gold, a move that confirms long-standing rumors and has significantly impacted the luxury watch market.

Essential Background

The Rolex GMT-Master, affectionately known as the "Pepsi" due to its distinctive blue and red bezel, is an iconic luxury sports watch with a rich history dating back to 1954. It was originally designed for Pan Am pilots to track multiple time zones, with the dual-color bezel visually representing day and night hours. Over the decades, the "Pepsi" has evolved through various references, becoming one of Rolex's most recognizable and coveted timepieces, known for its blend of functionality and timeless style.

The Full Story

Rolex officially confirmed the discontinuation of the "Pepsi" GMT-Master II references (126710BLRO in steel and 126719BLRO in white gold) on April 13, 2026, during the Watches and Wonders 2026 event in Geneva, Switzerland. This announcement followed months of intense speculation and rumors, which had been circulating since late 2025 and intensified in early 2026 as authorized dealers reportedly stopped receiving new deliveries and began removing the models from their websites. The red and blue Cerachrom ceramic bezel of the "Pepsi" has historically been challenging to produce consistently, leading to higher failure rates compared to other bi-color ceramic bezels, which may have contributed to its limited production and eventual discontinuation. Despite widespread speculation about a "Coke" (red and black bezel) replacement, Rolex did not introduce such a model at Watches and Wonders 2026, leaving no red-bezel GMT-Master II in its current steel catalog.

Why It Matters

The discontinuation of the Rolex "Pepsi" GMT-Master II is a significant event in the luxury watch world, as it removes one of the brand's most popular and iconic models from active production. This move reinforces Rolex's strategy of scarcity and exclusivity, which often leads to increased demand and elevated prices on the secondary market for discontinued references. Following the rumors and the official announcement, secondary market prices for the "Pepsi" had already surged, with some reporting a 500% increase in purchase requests on platforms like Chrono24. For collectors, the absence of a direct replacement with a red bezel means that the existing "Pepsi" models are expected to become even more sought-after and valuable. This event highlights the dynamic nature of the high-end watch market, where brand decisions can have immediate and substantial impacts on collector interest and asset values.

Geographic Location

• Geneva, Geneva Canton, Switzerland (official discontinuation announcement at Watches and Wonders 2026)