Rolex Pepsi: The GMT-Master II with the Blue and Red Bezel – History, References and Prices
Few watches are recognised as quickly as the Rolex Pepsi. The blue and red bezel of the Rolex GMT-Master II dates back to 1954 and has accompanied almost every generation of the model since then. In 2026, Rolex removed the current steel reference 126710BLRO from its catalogue. The Pepsi has thus gone from a hard-to-get catalogue model to a watch that is only available on the secondary market.
In short: The Rolex Pepsi is the GMT-Master II with the blue and red bezel. The first reference, the 6542, was created in 1954 for Pan Am pilots, and the last steel reference, the 126710BLRO, was produced from 2018 to 2026. It features calibre 3285 with a 70-hour power reserve and a second time zone. Its most recent list price was 11,550 euros, and it trades considerably higher on the secondary market. You will find all available pieces in our Rolex Pepsi collection.
The history of the Rolex Pepsi
The story begins in 1954 with the first GMT-Master, reference 6542. Rolex developed it together with Pan American Airways for its long-haul pilots, who needed to keep track of two time zones on intercontinental flights. The bezel with its 24-hour scale was two-tone: Blue stood for the night hours, red for the daytime hours. This made it possible to read the time at home at a glance. The colour combination later reminded people of the soft drink maker's logo, and the nickname Pepsi comes from collectors, not from Rolex.
The 6542 initially had a Bakelite bezel with radium-based luminous material. Because the material cracked and was radioactive, Rolex switched to aluminium after only a few years. In the 1964 James Bond film "Goldfinger", the character Pussy Galore wears a 6542, which is why early pieces still carry this nickname among collectors today.
In 1959 came reference 1675 with crown guards, which remained in the range for almost twenty years. In 1981, the 16750 added a quickset date. In 1983, the first GMT-Master II appeared, the 16760 with a thicker case and the nickname Fat Lady, though with a black and red bezel. The Pepsi bezel continued in parallel on the GMT-Master 16700 (from 1988) and on the GMT-Master II 16710 (from 1989), which was available with a blue and red, black and red or black bezel.
In 2007, Rolex switched the bezels of the GMT-Master II to ceramic. At the time, two-tone ceramic could not yet be produced, so there was no Pepsi for several years. It was not until 2014 that Rolex achieved the comeback with the patented Cerachrom bezel in blue and red, initially only in white gold as the 116719BLRO. The steel version 126710BLRO on a Jubilee bracelet followed in 2018, and a version on an Oyster bracelet was added in 2021.
All Pepsi references at a glance
Reference |
Model |
Production period |
Material and bezel |
6542 |
GMT-Master |
1954 to 1959 |
Steel or gold, Bakelite bezel, later aluminium |
1675 |
GMT-Master |
1959 to 1980 |
Steel, gold or two-tone, aluminium |
16750 |
GMT-Master |
1981 to 1988 |
Steel, aluminium, quickset date |
16700 |
GMT-Master |
1988 to 1999 |
Steel, aluminium |
16710 |
GMT-Master II |
1989 to 2007 |
Steel, aluminium, independently adjustable hour hand |
116719BLRO |
GMT-Master II |
2014 to 2018 |
White gold, Cerachrom |
126719BLRO |
GMT-Master II |
2018 to 2026 |
White gold, Cerachrom, later also with meteorite dial |
126710BLRO |
GMT-Master II |
2018 to 2026 |
Steel, Cerachrom, Jubilee or Oyster bracelet |
The production periods of the vintage references are approximate, as Rolex never officially dated the transitions. A particularly sought-after piece from the 1990s is the Rolex GMT-Master Pepsi 16700 on a Jubilee bracelet from our stock.
Rolex Pepsi discontinued: What happened in 2026
Rolex never announces discontinuations. With the Pepsi, things went as they so often do: From the end of 2025, the 126710BLRO gradually disappeared from authorised dealers' websites, and at the beginning of 2026 retailers stopped receiving deliveries. By early March 2026, the steel reference 126710BLRO and the white gold reference 126719BLRO had vanished from the catalogue. At Watches & Wonders in April 2026, Rolex did not present a successor.
Four colour variants remain in the current GMT-Master II catalogue: Batman and Batgirl with a black and blue bezel, Bruce Wayne with a grey and black bezel and Sprite with a green and black bezel and the crown on the left. Whether the Pepsi will return in a new form in a few years remains open. The history of the model shows that Rolex has paused the blue and red bezel for several years once before.
For buyers, the discontinuation means two things. New pieces are now only available from remaining stock and on the secondary market. And as with almost every discontinued Rolex sports watch, demand for the last reference has increased rather than decreased.
How much does a Rolex Pepsi cost?
According to the German Rolex price list, the list price of the 126710BLRO on a Jubilee bracelet was 11,550 euros from January 2026, and 11,250 euros until the end of 2025. At that price, however, the watch was hardly obtainable from authorised dealers, and waiting lists of several years were common. On the secondary market, the price is therefore well above the list price, depending on condition, scope of delivery, bracelet and date of purchase.
The white gold version 126719BLRO most recently cost 48,800 euros, or 51,500 euros with a meteorite dial. For vintage references such as the 1675 and 16700, originality, the condition of the bezel and the papers are the main factors determining the price. Faded bezels, known as fuchsia bezels, are often valued more highly by collectors than those in mint condition. Our article on the price development of the Rolex GMT-Master II shows how GMT-Master II prices have evolved over the years.
Case, bracelet and Cerachrom bezel
The case and bracelet of the 126710BLRO are made of Oystersteel, Rolex's name for its stainless steel alloy from the 904L family. It is particularly corrosion-resistant and can be polished to a high shine. The case measures 40 millimetres and is water-resistant to 100 metres.
Its signature feature is the bidirectional rotating bezel with a 24-hour scale made of Cerachrom. The ceramic is hard, scratch-resistant, corrosion-resistant and impervious to UV light, so the colours do not fade as they did on the old aluminium bezels. Producing the two-tone bezel from a single piece was long considered technically impossible. Rolex solves this by treating one half of the ring with a chemical solution before firing, which changes its colour.
The black dial under sapphire crystal features hour markers in the shape of circles, triangles and rectangles. The markers and hands are coated with blue-glowing Chromalight luminescent material. The GMT hand is red, matching the bezel.
Pepsi on a Jubilee or Oyster bracelet
From 2018 to 2021, the 126710BLRO was only available on the five-piece link Jubilee bracelet. In 2021, Rolex added a version on the three-piece link Oyster bracelet. The Jubilee bracelet looks more elegant and, thanks to its smaller links, wraps more softly around the wrist. The Oyster bracelet is sportier and more robust. Both have the Oysterlock safety folding clasp and the Easylink extension of around five millimetres. It is hardly a question of value, but very much a question of taste.
Movement and GMT function
The 126710BLRO is powered by the in-house calibre 3285. It is a Superlative Chronometer with a rate deviation of no more than minus two to plus two seconds per day after casing, with a Chronergy escapement and a 70-hour power reserve. Its predecessor, the 116719BLRO, still had calibre 3186 with around 48 hours.
The GMT function works with three time zones: The regular hands show local time, and the red 24-hour hand shows home time on the fixed scale. By also turning the bezel, a third time zone can be read. Since the 16710, the hour hand can be adjusted independently without stopping the watch. When travelling, this is the most practical solution: You only change the local time, and the date automatically follows. Our article What is a GMT watch? explains what defines a GMT watch in general.
What to look for when buying
Authenticity: Hardly any other Rolex is counterfeited as often as the Pepsi. You should therefore only buy from an established dealer who checks the reference and serial number. At HORANDO, every watch is inspected once more before shipping, and the reference and serial number are verified.
Scope of delivery: Box, warranty card and papers increase the value and make resale easier. You can read which documents belong with a Rolex in the article Rolex papers.
Condition and bracelet: With a pre-owned 126710BLRO, look out for scratches on the polished flanks and check the tension of the bracelet. For vintage references, the originality of the bezel, dial and hands is decisive.
Price in context: Offers well below market level are almost always a warning sign. Only compare prices for the same condition, the same scope of delivery and the same bracelet. You will find inspected pre-owned pieces with a one-year warranty under Certified Pre-Owned. If the reference you are looking for is currently unavailable, our Concierge Service will search for it on your behalf.
Batman, Sprite, Root Beer: The other GMT-Master II models
Batman and Batgirl: Black and blue bezel. The Batman arrived in 2013 as the 116710BLNR on an Oyster bracelet, the Batgirl in 2019 as the 126710BLNR on a Jubilee bracelet.
Sprite: Green and black bezel, crown and date on the left for left-handed wearers. The Sprite 126720VTNR was released in 2022.
Bruce Wayne: Grey and black bezel, since 2024 as the 126710GRNR.
Root Beer: Brown and black bezel, since 2018 as the 126711CHNR in Oystersteel and Everose gold.
Coke: Black and red bezel, last produced on the 16710 until 2007.
You will find all available models in the Rolex GMT-Master II collection. We compare an alternative with a blue and red bezel in the article Tudor Black Bay GMT vs. Rolex Pepsi. You can read how its black and blue sister differs in Rolex Batgirl vs. Batman.
Frequently asked questions
Why is the Rolex GMT-Master II called Pepsi?
Because of the blue and red bezel, whose colours are reminiscent of the soft drink maker's logo. The name comes from collectors, Rolex itself does not use it.
Has the Rolex Pepsi been discontinued?
Yes. Rolex removed the steel reference 126710BLRO and the white gold reference 126719BLRO from its catalogue in early 2026. There was no successor at Watches & Wonders 2026.
How much does a Rolex Pepsi cost?
The most recent list price of the 126710BLRO was 11,550 euros. On the secondary market, it trades considerably higher, depending on condition, scope of delivery and bracelet.
What is the difference between the GMT-Master and the GMT-Master II?
On the GMT-Master II, the hour hand can be adjusted independently of the GMT hand. This allows the watch to display three time zones, and the local time can be changed quickly when travelling. The GMT-Master was discontinued in 1999.
Pepsi on a Jubilee or Oyster bracelet: Which is better?
Technically, both are equivalent. The Jubilee bracelet looks more elegant and wears more softly, while the Oyster bracelet is sportier. The Jubilee version was available from 2018, the Oyster version only from 2021.
Which movement does the Rolex Pepsi have?
The 126710BLRO has the automatic calibre 3285 with a 70-hour power reserve and an accuracy of minus two to plus two seconds per day.
What other nicknames are there for the GMT-Master II?
Batman, Batgirl, Sprite, Bruce Wayne, Root Beer and Coke. Other lines also have nicknames, such as the Submariner Hulk or the Daytona Paul Newman.
Read more: Rolex GMT-Master II price development · Rolex Root Beer · Rolex as an investment
Sources: Rolex · German Rolex price list from 1 January 2026 · Reports on Watches & Wonders 2026.
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