Rolex Vault › All references › GMT-Master
GMT-Master · 2018 to 2026 (discontinued)
“Pepsi”
Rank #2 of 113 rated pieces in the Rolex Vault
Market range: the middle half of 132 recorded eBay sales in the last 12 months.
Median recorded eBay sale price for each quarter with 3 or more sales. Dashed line marks the us retail (2026).
Rolex confirmed the Pepsi's discontinuation at Watches and Wonders in April 2026, and tracked prices moved from roughly $20,000 in late 2025 to the mid-$20,000s, with dealer asks well above that.
The red and blue Cerachrom bezel is the most recognizable bezel Rolex makes, and this was the last steel reference to carry it.
The Pepsi bezel exists because Pan Am asked Rolex for a pilot's watch that showed two time zones at once in 1954. The red half marks daytime hours, the blue half night, so a pilot could tell at a glance whether it was 3am or 3pm back home.
Making red ceramic was so hard that Rolex patented the process; Rolex says the process was its own development. The ceramic Pepsi returned in 2014 in white gold only (116719BLRO), at several times the steel GMT price, before this steel version arrived in 2018.
Our verdict: The most talked-about Rolex discontinuation of 2026. Momentum is real, but you are buying a spike; expect volatility either way.
| Sizes | 40mm |
|---|---|
| Case & bracelet | Oystersteel (stainless) |
| Factory bracelet | Jubilee or Oyster (both factory) |
| Factory bezels | Red and blue Cerachrom 'Pepsi' (only factory bezel) |
| Notable dials | Black (Jubilee or Oyster bracelet) |
| Caliber | 3285 |
| Production | 2018 to 2026 (discontinued) |
| Sold | Example | Price |
|---|---|---|
| Oct 7, 2026 | Pre-owned · eBay sale ↗︎ | $23,550 |
| Sep 27, 2026 | Pre-owned · eBay sale ↗︎ | $23,700 |
| Sep 24, 2026 | Pre-owned · eBay sale ↗︎ | $23,800 |
| Sep 15, 2026 | Pre-owned · eBay sale ↗︎ | $24,100 |
| Sep 13, 2026 | Pre-owned · eBay sale ↗︎ | $23,500 |
| Sep 10, 2026 | Pre-owned · eBay sale ↗︎ | $21,500 |
Recorded eBay completed sales, logged at our last data refresh.
Recorded eBay sales from the last 12 months put the typical Rolex GMT-Master II 126710BLRO at $23,500, with the middle half selling between $21,700 and $25,200 (129 sales). Condition, box and papers move the price within that range.
Yes. The typical sale of $23,500 is about 99% above the $11,800 retail price.
The Crown Index grades it S (98/100) from real resale data, and today's call is wait for a dip. It holds its value well, but the market price is steep right now. Past prices are not a forecast.
Rolex GMT-Master II 126710BLNR vs Rolex GMT-Master II 126710BLRO →
Rolex GMT-Master II 126710BLRO vs Rolex GMT-Master II 126720VTNR →
Tudor Black Bay GMT 79830RB vs Rolex GMT-Master II 126710BLRO →