What Happened to Rolex GMT-Master II "Pepsi" Discontinuation?
The iconic Rolex GMT-Master II "Pepsi" models, encompassing both the stainless steel (ref. 126710BLRO) and white gold (ref. 126719BLRO) versions with their distinctive red and blue Cerachrom bezels, were officially discontinued by Rolex at Watches and Wonders 2026 on April 13-14, 2026. This move, following months of intense speculation and a surge in secondary market prices, marks the end of a significant era for one of Rolex's most coveted and recognizable timepieces.
Quick Answer
The Rolex GMT-Master II "Pepsi" in both stainless steel (ref. 126710BLRO) and white gold (ref. 126719BLRO) was officially discontinued by Rolex at Watches and Wonders 2026, effective April 13-14, 2026. This decision, following widespread rumors and the removal of the models from authorized dealer websites, has led to a significant increase in secondary market values for the now-retired references. The discontinuation has fueled speculation about a potential return of the "Coke" GMT-Master II with a red and black bezel.
📊Key Facts
📅Complete Timeline10 events
Original GMT-Master Ref. 6542 with "Pepsi" Bezel Introduced
Rolex launched the first GMT-Master, reference 6542, featuring a red and blue Bakelite bezel, designed for Pan Am pilots to track multiple time zones. This established the iconic "Pepsi" colorway.
Absence of "Pepsi" Variants in Rolex Catalog
Rolex ceased production of "Pepsi" variants, with the last aluminum bezel "Pepsi" GMT-Master II (ref. 16710) being discontinued. This period lasted until 2014.
White Gold GMT-Master II "Pepsi" (Ref. 116719BLRO) Launched
Rolex reintroduced the "Pepsi" bezel in a modern ceramic (Cerachrom) form, but exclusively in an 18-karat white gold case, under reference 116719BLRO.
Stainless Steel GMT-Master II "Pepsi" (Ref. 126710BLRO) Introduced on Jubilee
At Baselworld, Rolex launched the highly anticipated stainless steel "Pepsi" GMT-Master II, reference 126710BLRO, featuring the new Caliber 3285 movement and available only on a Jubilee bracelet.
White Gold "Pepsi" Receives Blue Dial Option
The white gold GMT-Master II "Pepsi" (ref. 116719BLRO) was updated with a blue dial option, further distinguishing it from the newly released steel version.
Stainless Steel "Pepsi" Becomes Available on Oyster Bracelet
Rolex quietly updated its online configurator, making the stainless steel GMT-Master II "Pepsi" (126710BLRO) available on the Oyster bracelet, alongside the Jubilee.
Pepsi GMT Remains in Lineup at Watches and Wonders 2025
Despite persistent rumors, the "Pepsi" GMT-Master II remained in Rolex's lineup during Watches and Wonders 2025, though a white gold 'destro' Sprite GMT was a surprising announcement.
Intensified Discontinuation Rumors and Dealer Actions
Rumors of the "Pepsi" discontinuation reached a fever pitch. WatchPro confirmed Rolex told authorized dealers there would be no further deliveries, and many AD websites began removing the 126710BLRO and 126719BLRO from their listings.
Secondary Market Prices Surge Amidst Rumors
The secondary market reacted strongly to discontinuation rumors, with Chrono24 reporting a 500% surge in purchase requests for the 126710BLRO. Prices climbed significantly, with some listings reaching triple the retail price.
Official Discontinuation Confirmed at Watches and Wonders 2026
Rolex officially discontinued both the stainless steel (126710BLRO) and white gold (126719BLRO) GMT-Master II "Pepsi" models. The watches disappeared from Rolex's official website during the Watches and Wonders 2026 product refresh.
🔍Deep Dive Analysis
The Rolex GMT-Master II "Pepsi" holds a storied place in horological history, dating back to the original GMT-Master reference 6542 introduced in 1954 for Pan Am pilots, featuring its iconic red and blue bezel for distinguishing day and night hours. After a period from 2007 to 2014 where no "Pepsi" variants were in Rolex's catalog, the modern ceramic era of the "Pepsi" began with the introduction of the white gold GMT-Master II ref. 116719BLRO in 2014.
In 2018, Rolex delighted enthusiasts by launching the stainless steel GMT-Master II ref. 126710BLRO with the ceramic "Pepsi" bezel, initially available exclusively on the Jubilee bracelet. This move helped differentiate it from the white gold model, which also received a blue dial that same year. A significant turning point for the steel "Pepsi" came in 2021 when Rolex made it available on the Oyster bracelet once again, offering collectors a choice between the two popular bracelet styles.
Rumors of the "Pepsi" GMT-Master II's discontinuation began to intensify in late 2025 and early 2026, circulating widely across watch forums and financial outlets like Bloomberg. Authorized dealers reportedly stopped receiving new deliveries, and many removed the "Pepsi" models from their online catalogs, including Rolex-owned Bucherer. This pre-announcement activity caused a dramatic surge in secondary market prices, with some models commanding more than double their retail price.
The official confirmation arrived at Watches and Wonders 2026 on April 13-14, 2026, when Rolex quietly updated its website, removing both the stainless steel (126710BLRO) and white gold (126719BLRO) "Pepsi" GMT-Master II models from its current collection. This discontinuation was a long-rumored but still impactful decision, ending the modern "Pepsi" production after its most recent 12-year run. The challenges of producing the two-color red and blue ceramic bezel, which has a higher failure rate compared to other bi-color inserts, are often cited as a contributing factor to its limited production and eventual discontinuation.
As of April 14, 2026, the "Pepsi" GMT-Master II is no longer available through official Rolex channels. The immediate consequence has been a further escalation in secondary market prices, as collectors and investors seek to acquire the now-retired icon. The discontinuation has also intensified speculation about what might replace it, with many anticipating the return of the "Coke" GMT-Master II, featuring a red and black bezel, a colorway that has been absent from the ceramic lineup since 2007 and for which Rolex filed a ceramic patent in 2022.
What If...?
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