What Happened to Rolex GMT-Master II "Coke"?
The Rolex GMT-Master II "Coke" refers to iconic models (references 16760 and 16710) featuring a distinctive red and black aluminum bezel, first introduced in 1983. Discontinued in 2007 with Rolex's transition to ceramic bezels, it has become a highly sought-after collector's item on the secondary market. Despite persistent rumors and a 2022 patent for a red and black ceramic bezel, a modern ceramic "Coke" GMT-Master II was not released at Watches & Wonders 2026, even as the popular "Pepsi" model was discontinued.
Quick Answer
The Rolex GMT-Master II "Coke" (red and black bezel) was discontinued in 2007 and has not been re-released in a modern ceramic version. It remains a highly collectible vintage and neo-vintage timepiece, commanding significant premiums on the secondary market. Despite strong speculation and a Rolex patent for a red and black ceramic bezel, the "Coke" did not make a comeback at Watches & Wonders 2026, which notably saw the discontinuation of the "Pepsi" GMT-Master II, leaving no red-bezel GMT in Rolex's current steel catalog.
📊Key Facts
📅Complete Timeline12 events
Original GMT-Master (Ref. 6542 "Pepsi") Introduced
Rolex introduces the first GMT-Master, designed for Pan Am pilots, featuring a red and blue "Pepsi" bezel. This sets the stage for future GMT models.
GMT-Master II Ref. 16760 "Fat Lady" Debuts with "Coke" Bezel
Rolex launches the first GMT-Master II, reference 16760, featuring a new Caliber 3085 movement allowing an independently adjustable hour hand. This model, nicknamed "Fat Lady" due to its thicker case, is the first to sport the red and black "Coke" bezel and introduces sapphire crystal to the GMT line.
Ref. 16760 "Fat Lady" Discontinued
After a short production run of five years, the Rolex GMT-Master II reference 16760 is discontinued.
GMT-Master II Ref. 16710 Introduced
Rolex releases the GMT-Master II reference 16710, a slimmer successor to the 16760. This reference offers three bezel options: "Coke" (red and black), "Pepsi" (red and blue), and all-black.
Rolex Discontinues Ref. 16710 and the Aluminum "Coke" Bezel
Rolex ceases production of the GMT-Master II reference 16710, marking the end of the aluminum "Coke" bezel. This coincides with Rolex's shift to ceramic (Cerachrom) bezels, which initially could not achieve the red and black combination.
First Two-Tone Ceramic GMT-Master II ("Batman") Released
Rolex introduces its first two-tone ceramic bezel on a GMT-Master II, the blue and black "Batman" (ref. 116710BLNR), demonstrating the brand's progress in ceramic technology.
Steel Ceramic "Pepsi" GMT-Master II (Ref. 126710BLRO) Introduced
After an initial white gold release in 2014, Rolex makes the ceramic "Pepsi" GMT-Master II available in stainless steel, fueling hopes for a future ceramic "Coke."
Rolex Files Patent for Red and Black Ceramic Bezel
Rolex files a US patent (12,428,335 B2) detailing a manufacturing process for a stable red and black ceramic bezel insert, reigniting strong rumors of a ceramic "Coke" GMT-Master II.
Patent Published; No "Coke" at Watches & Wonders 2024
The Rolex patent for a red and black ceramic bezel is published. Despite intense speculation, Rolex does not release a ceramic "Coke" GMT-Master II at Watches & Wonders 2024, instead introducing new gray and black bezel models.
"Pepsi" Discontinuation Confirmed to Dealers
Industry publications confirm that Rolex has informed authorized dealers that no further deliveries of the steel "Pepsi" GMT-Master II (ref. 126710BLRO) would be coming, signaling its impending discontinuation.
"Pepsi" Discontinued; No "Coke" at Watches & Wonders 2026
Rolex officially removes the steel and white gold "Pepsi" GMT-Master II models from its website during Watches & Wonders 2026. Contrary to widespread expectations, no ceramic "Coke" GMT-Master II is announced as a replacement, leaving the current GMT-Master II steel catalog without any red bezel.
Current Status: "Coke" Remains Discontinued and Highly Collectible
As of today, the Rolex GMT-Master II "Coke" remains a discontinued model. Its vintage aluminum-bezel references continue to be highly sought after on the secondary market, with prices ranging from $12,000 to over $21,500 depending on the reference and condition. The absence of a modern ceramic "Coke" in Rolex's current lineup, especially after the "Pepsi" discontinuation, maintains its mythical status among collectors.
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🔍Deep Dive Analysis
The Rolex GMT-Master II "Coke" earned its nickname from its distinctive red and black bi-directional bezel, reminiscent of the Coca-Cola logo. Its history began in 1983 with the introduction of the reference 16760, often dubbed the "Fat Lady" due to its thicker case. This model was significant as the first GMT-Master II, featuring an independently adjustable local hour hand and being the first GMT to incorporate a sapphire crystal and white gold surrounds for the hour markers.
The 16760 was produced exclusively with the red and black "Coke" bezel until its discontinuation in 1988. It was succeeded in 1989 by the reference 16710, which continued the "Coke" bezel option alongside the "Pepsi" (red and blue) and an all-black bezel. The 16710, a slimmer and more refined model, was produced for 18 years, becoming the last GMT-Master II to feature an aluminum bezel.
The "Coke" GMT-Master II was officially discontinued in 2007 when Rolex transitioned its GMT-Master II line to ceramic (Cerachrom) bezels. At the time, producing a stable red and black ceramic bezel proved technically challenging for Rolex, leading to the absence of the "Coke" in the ceramic era. This discontinuation, coupled with its historical significance and versatile aesthetic, cemented its status as a highly desirable collector's piece on the secondary market.
Speculation about a ceramic "Coke" re-release intensified in recent years, particularly after Rolex filed a patent in 2022 (published in early 2024) detailing a manufacturing process for a stable red and black ceramic bezel. Many enthusiasts anticipated its return, especially around the GMT-Master's 70th anniversary in 2025 or at Watches & Wonders 2026.
However, Watches & Wonders 2026 brought a surprising turn of events. While the popular steel "Pepsi" GMT-Master II (ref. 126710BLRO) was quietly discontinued in April 2026, no ceramic "Coke" was announced as its replacement. Instead, Rolex introduced new gray and black bezel GMT-Master II models. As of August 31, 2026, the "Coke" GMT-Master II remains a discontinued model, with its vintage aluminum-bezel references continuing to command strong prices and collector interest due to their scarcity and unique aging characteristics. The current Rolex steel catalog notably lacks any red bezel.
What If...?
Explore alternate histories. What if Rolex GMT-Master II "Coke" made different choices?