Rolex Killed the Pepsi GMT. Should You Still Buy One?

The Day the Pepsi Disappeared

Rolex never announces a discontinuation. Watches simply vanish.

That's exactly what happened to the Pepsi. In the weeks before Watches and Wonders 2026, dealers stopped receiving new pieces and buyers started to panic. Then, on April 14, the product page for the 126710BLRO went dark on rolex.com. The steel Pepsi, the white gold Pepsi and even the option to configure a red-and-blue bezel were all gone.

For eight years, the Rolex Pepsi GMT was arguably the most wanted steel sports watch in the world. Now it's a closed chapter, at least for the moment. Six months on, the question buyers keep asking is simple: should you still chase one? Here's an honest answer.

Why the Pepsi Mattered So Much

The red-and-blue bezel isn't just a colour scheme. It's the original GMT-Master look.

Rolex created the GMT-Master in the mid-1950s for airline pilots who needed to track two time zones at once. The two-tone bezel helped them tell day hours from night hours at a glance. That bezel became one of the most recognisable designs in watchmaking, and it's been in the GMT story ever since. Our GMT-Master II bezel guide covers how each colourway came about.

The modern steel 126710BLRO arrived in 2018 with a red-and-blue Cerachrom ceramic bezel, a hard-won technical feat because getting two colours into a single ceramic piece is notoriously difficult. It ran on the calibre 3285, with about 70 hours of power reserve. Demand never cooled. Retail buyers waited years, and the secondary market almost always traded it well above list price.

What Happened to Pepsi Prices After the Discontinuation

The market didn't wait for confirmation.

• Before the show: Chrono24 reported a 500% surge in purchase requests for the 126710BLRO in the first week of March 2026 alone, as rumours spread.
• Around the announcement: pre-owned prices jumped, with some unworn, recently dated pieces asking $40,000 or more in the first frenzy.
• Today: things have settled. WatchCharts puts the 126710BLRO's market price at about $22,000 as of mid-October 2026, against its last retail price of $11,800.

So the steel Pepsi now costs roughly double its final retail price. That's high, but it's also not the crazy spike some headlines suggested. Prices depend heavily on condition, bracelet (Jubilee or Oyster) and whether the box and papers are included.

The white gold 126719BLRO, discontinued at the same time, now commonly trades in the $35,000 to $45,000+ range, with meteorite and blue dials at the top.

Should You Still Buy a Rolex Pepsi?

There's no single answer, so let's split it by buyer.

Yes, If It's Your Grail

If the Pepsi is the watch you've wanted for years, buy it. Discontinued steel Rolex sports models have a long history of holding value well over time, and the Pepsi is the most iconic GMT colourway of all. Paying around $22,000 for a watch you'll wear for decades is easier to justify than paying it for a watch you'll sell next year.

Maybe, If You're Thinking About Value

Discontinued Rolex references often climb further over the long run. But nothing is guaranteed. Rolex could bring a red-and-blue bezel back in a future reference, which would take some heat out of the market. And at roughly double retail, much of the "discontinued" premium is already priced in. Treat any future gain as a bonus, not the plan.

Probably Not, If You Just Want a Steel GMT

Here's the honest truth: mechanically, the Pepsi is the same watch as the Batman and the Sprite. Same 40mm case, same calibre 3285, same GMT function. You'd be paying several thousand dollars more for a bezel colour. If that colour doesn't mean much to you, there are smarter ways to buy a GMT-Master II.

The Best Pepsi Alternatives Right Now

Rolex GMT-Master II "Batman" (ref. 126710BLNR)

Blue-and-black bezel, still in production. Its last retail price was $11,800 and it trades around $17,400 on the secondary market. The Batman is the closest like-for-like alternative and, now that the Pepsi has gone, the most recognisable current steel GMT.

Rolex GMT-Master II "Sprite" (ref. 126720VTNR)

Green-and-black bezel with the crown on the left side, also current. Retail is $12,300 and the market price sits around $16,300, making it the cheapest way into a modern steel GMT right now. The left-hand crown takes a day or two to get used to, but it's comfortable on the wrist.

Older Pepsi, ref. 16710

Want the red and blue but not the new-model premium? The previous-generation 16710, made until the late 2000s, has an aluminium bezel insert instead of ceramic. It typically sells in the $13,000 to $20,000 range depending on condition. It has more vintage character, though its aluminium bezel can fade and scratch.

A Tudor Alternative

If you love the red-and-blue look but not the Rolex price, Tudor's Black Bay GMT offers a similar colourway for a fraction of the cost. It's a different watch with a different feel, but it scratches the itch. See our take on whether Tudor's Black Bay is a real Rolex alternative.

And if you're still deciding whether you need a GMT at all, read GMT-Master II vs Explorer II: best travel watch?

Pepsi vs Batman vs Sprite at a Glance

• Pepsi 126710BLRO: red/blue bezel, discontinued April 2026, last retail $11,800, market around $22,000
• Batman 126710BLNR: blue/black bezel, current, retail $11,800, market around $17,400
• Sprite 126720VTNR: green/black bezel, left-hand crown, current, retail $12,300, market around $16,300
• Pepsi 16710 (older): red/blue aluminium bezel, discontinued, typically $13,000 to $20,000

All three modern models share the 40mm Oystersteel case, 100m water resistance and the calibre 3285 movement. If you're curious about that steel, here's how Oystersteel differs from regular stainless steel.

How to Buy a Pepsi Safely Now

Discontinued, high-demand watches are a magnet for fakes and dishonest sellers. With every Pepsi now only available pre-owned or unworn on the secondary market, take extra care.

1. Buy the seller first. Stick to established dealers with real reviews and a return policy. A Pepsi priced far below market is a warning sign, not a bargain.
2. Check the bezel closely. The genuine Cerachrom bezel has a crisp, even split between red and blue, with sharp engraved numerals. Poor colour transitions are a common giveaway on fakes.
3. Match the papers. The serial and reference on the watch should match the warranty card.
4. Know the date set. The GMT-Master II changes the date through the local hour hand, which is different from most Rolexes. Our guide on how to set a Rolex date explains it, and it's a quick functional test when inspecting a watch.
5. Know the warning signs. Read 7 signs your Rolex might be a fake before you pay.

What the Pepsi Tells Us About Rolex Right Now

The Pepsi's exit fits a wider pattern. Rolex keeps demand high by limiting supply and occasionally pulling popular models, and buyers keep responding. It's the same force behind rising retail prices and long waits at dealers.

For the bigger picture, see what collectors think of Rolex's price increases and whether the Rolex waiting list is still a thing. And for proof of what Rolex's rarest pieces can command, our story on four Daytonas that sold for $49.4 million is worth a read.

Frequently Asked Questions

Is the Rolex Pepsi GMT discontinued?

Yes. Rolex discontinued the steel GMT-Master II Pepsi ref. 126710BLRO and the white gold ref. 126719BLRO on April 14, 2026, at Watches and Wonders Geneva. No red-and-blue replacement was announced.

How much is a Rolex Pepsi worth now?

The steel Rolex Pepsi 126710BLRO trades for around $22,000 pre-owned as of October 2026, roughly double its last retail price of $11,800. Unworn examples with box and papers typically ask more.

Why did Rolex discontinue the Pepsi?

Rolex never explains discontinuations publicly. Like other Rolex sports models, the Pepsi was simply removed from the catalogue after about eight years in production, without a direct successor.

Will the Rolex Pepsi go up in value?

Discontinued steel Rolex sports models have often risen in value over time, but nothing is guaranteed. Much of the discontinuation premium is already reflected in today's price, so buy one to wear rather than as a pure investment.

What is the best alternative to the Rolex Pepsi?

The Rolex GMT-Master II Batman (126710BLNR) is the closest alternative, sharing the same case and calibre 3285 movement for around $17,400 pre-owned. The Sprite (126720VTNR) is the most affordable modern steel GMT at around $16,300.

What replaced the Rolex Pepsi?

Nothing directly. Rolex did not launch a red-and-blue or "Coke" replacement in 2026. The remaining steel GMT-Master II models are the Batman, Batgirl, Bruce Wayne and Sprite.

The Bottom Line

Rolex killed the Pepsi, but it didn't kill the reason people loved it. If the red and blue bezel has always been the one, buy the best example you can afford and keep it for good. If you just want a brilliant steel GMT, the Batman and Sprite give you the same watch, the same movement and the same travel-ready function for a lot less.

Either way, you're buying one of the best travel watches ever made. The only question is which colour you want on your wrist.