Rolex GMT-Master II Bezel Guide: Pepsi vs Batman vs Root Beer

Pepsi (red and blue), Batman (blue and black), and Root Beer (brown and black on Everose gold) are the three best-known Rolex GMT-Master II bezel colorways, all using the same two-color Cerachrom ceramic construction and the same Caliber 3285 movement. What surprises most buyers: Batman actually arrived before the modern steel Pepsi, partly because Rolex reportedly struggled to manufacture a red-and-blue ceramic bezel and the blue-and-black combination emerged as a genuine engineering breakthrough in its own right. Root Beer followed in 2018 on two-tone Everose gold, aimed at a warmer, more vintage-inspired look than either.  

Most bezel-color guides treat Pepsi, Batman, and Root Beer as if Rolex simply picked three color palettes off a chart. The real story is more interesting than that, and it explains a lot about why these specific colors ended up as iconic as they are. This covers the actual history, how the two-color ceramic is physically made, and a couple of newer bezels worth knowing about that rarely make it into this conversation. 

How a Two-Color Cerachrom Bezel Is Actually Made

 
Worth understanding before getting into individual colorways, because it explains why bi-color bezels took Rolex years to perfect. A Cerachrom bezel insert isn't two separate colored pieces joined together — it's a single, solid block of ceramic, first colored entirely in one shade, then precisely injected with a second color in the sections that need it. Getting two colors to fuse into one monobloc ceramic piece, with a clean, durable boundary between them, is a genuinely difficult manufacturing problem, and it's the reason the order these bezels arrived in isn't what most people assume.

Batman Actually Came First

 
This is the detail that surprises people who assume Pepsi is the "original" GMT-Master II color scheme. In 2005, Rolex introduced its first-ever sports watch in the modern ceramic-bezel "Super Case" format — a solid gold GMT-Master II with a black dial, black bezel, and, as a distinctive new touch, a green GMT hand and green dial text. A steel version followed shortly after, reference 116710LN, which became the standard steel GMT-Master II through the mid-to-late 2000s.
 
The blue-and-black "Batman" bezel — officially arriving in 2013 — is reported to have emerged partly because Rolex was having genuine difficulty manufacturing a red-and-blue Cerachrom bezel in ceramic at the time. The blue-and-black combination represented a real bi-color manufacturing achievement in its own right, not a stepping stone toward Pepsi. By the time Rolex actually solved the red-and-blue ceramic challenge and released a steel Pepsi, the older black-bezel, green-detail 116710LN was discontinued. In other words: Batman exists partly because Pepsi was too hard to make first.
 

Pepsi: The Color Everyone Assumes Came First

 
Once the ceramic manufacturing challenge was solved, the red-and-blue Pepsi bezel became available in steel — a callback to the GMT-Master's original 1950s two-tone bezel aesthetic, now rendered in scratch-resistant Cerachrom rather than the acrylic and aluminum inserts used decades earlier. It remains one of the most requested configurations at authorized dealers, and demand has consistently outpaced supply since its ceramic steel release. Our coverage of Rolex waitlists in 2026 covers how allocation friction has shifted across the catalog this year — Pepsi and Batman remain among the references collectors still commonly wait for, even as availability has improved elsewhere.
 

Batman: The Blue-and-Black Standard

 
Beyond its origin story, the Batman has become something close to the default modern GMT-Master II in the public imagination — instantly recognizable, paired with either the three-link Oyster bracelet or the more dressed-up five-link Jubilee, both featuring the patented Oysterlock safety clasp with a 5mm Easylink extension. It sits at the core steel pricing tier for the current GMT-Master II lineup, without the premium some rarer configurations command.
 

Root Beer: The Warmer, Gold-Toned Alternative

 
Arriving later, the brown-and-black Cerachrom bezel — nicknamed Root Beer — pairs with Everose gold in the two-tone reference 126711CHNR, aimed at a warmer, more vintage-inspired aesthetic than either Pepsi or Batman's high-contrast palettes. It leans closer to the golden-brown two-tone GMT-Masters of the 1970s and 80s in spirit, updated with current ceramic and movement technology. If you want to understand exactly what the "CHNR" suffix on that reference number is telling you, our Rolex reference numbers decoded guide covers how these bezel and material codes work across Rolex's full catalog.
 

Beyond the Big Three: Bezels Worth Knowing About

 
If you're shopping the GMT-Master II seriously, two more recent releases are worth understanding, since they rarely get the same attention as Pepsi, Batman, and Root Beer despite genuine significance of their own.
 
The "Lefty" and its standard sibling (2022–2023). In 2022, Rolex released a genuinely unusual GMT-Master II with the crown relocated to the left side of the case — paired with a black-and-green two-tone bezel and a matching green GMT hand, the first time green had appeared as an actual bezel color rather than just a dial accent. It was among the most talked-about releases of that year specifically because of the crown placement. A standard right-crown version followed in 2023, using white dial text instead of the original's green, making the two versions distinguishable at a glance despite sharing the same bezel colorway.

The "Bruce Wayne" (2024–present). Released for the GMT-Master's 70th anniversary, this reference revives the spirit of the original 116710LN with a "stealth" black-and-grey two-tone bezel and a green GMT hand — but notably without the green dial text, giving it a more restrained, understated look than its predecessor. It was the only new steel sports watch Rolex released that year, and it remains comparatively under-the-radar next to Batman and Pepsi despite offering genuine GMT-Master II capability in a quieter package. Current pricing runs around $11,100 on the Oyster bracelet and $11,300 on Jubilee — worth real consideration if you want true GMT function without joining the more competitive wait for Pepsi or Batman specifically.
 

The Movement Underneath Every Bezel Choice

 
Whichever colorway you choose, the engineering underneath is identical. Every current GMT-Master II runs Caliber 3285, delivering a 70-hour power reserve, the Chronergy escapement, Paraflex shock absorbers, and accuracy to within ±2 seconds a day. The independently adjustable hour hand — the feature that actually makes this watch function as a genuine travel tool rather than just a watch with an extra hand — works identically across every bezel color. Our Rolex Perpetual Calibre explainer covers the underlying movement technology in more depth, and our guide on how to set a Rolex date walks through exactly how that independent hour-hand mechanism works at the crown.
 

Choosing Between Them

• Want the color scheme with the deepest manufacturing backstory and broad recognition? Batman.
• Want the configuration most people specifically request, red-and-blue heritage included? Pepsi.
• Want something warmer and more vintage in feeling? Root Beer.
• Want genuine GMT capability without competing for the most hyped colorway? The Bruce Wayne is a legitimately underrated option worth serious consideration.

None of these choices affects the watch's actual function — this is entirely a question of which look and story resonates with you, since the movement and travel capability are identical across the board.
 

FAQ

 
Did Batman or Pepsi come first on the GMT-Master II? Batman, in 2013 — the modern steel Pepsi arrived later, reportedly because Rolex initially struggled to manufacture a red-and-blue Cerachrom bezel in ceramic.

How is a two-color Rolex ceramic bezel actually made? It's a single solid block of ceramic, first colored in one shade and then precisely injected with a second color, rather than two separate pieces joined together.

What's the difference between Root Beer and the other GMT-Master II bezels? Root Beer pairs a brown-and-black Cerachrom bezel with two-tone Everose gold construction, aimed at a warmer, more vintage-inspired look than the higher-contrast Pepsi or Batman.

What is the "Bruce Wayne" Rolex? An informal nickname for the 2024 GMT-Master II reference with a black-and-grey "stealth" bezel and green GMT hand, released for the model's 70th anniversary and comparatively overlooked next to Batman and Pepsi.

Do all GMT-Master II bezel colors use the same movement? Yes — every current reference runs Caliber 3285, with identical power reserve, accuracy, and the independently adjustable hour hand regardless of bezel color.
 

Conclusion

 
Pepsi, Batman, and Root Beer aren't just three color options Rolex picked for variety — each one reflects a specific point in the brand's ceramic manufacturing capability and design direction, with Batman's origin story in particular running counter to what most buyers assume. Whichever bezel actually speaks to you, including newer options like the Bruce Wayne, you're getting the same genuine travel-watch engineering underneath. The color is where you get to make it yours.