What next for prices of Rolex GMT Pepsi?
As everyone gears up for Watches and Wonders 2026, will the rumour mill run out of steam?
Has the Rolex ‘Pepsi’ bitten the dust? And where are prices heading?
Only time will tell, of course. But what’s evident is that there are rumours on the internet that aren’t going away.
Introduced at Baselword in 2018, The Rolex GMT‑Master II 126710BLRO has become one of the defining modern Rolex sports watches — iconic, heavily traded, and unusually sensitive to shifts in the wider luxury watch market.
Predicting its future price is harder than guessing Donald Trump’s next move. It isn’t about guessing one number — it’s about understanding the forces shaping supply, demand, and collector psychology.
Although the Rolex Pepsi has a retail price of £9,850 (as of April 2026), Watchcharts is calling the pre-owned price out at nearly double, as it stands — approximately £16,600.
As of early 2026, the watch traded at roughly $20,000–$25,000 (£16,000–£20,000) on the secondary market, compared to the above retail price, maintaining a strong premium of roughly 40–60%. This premium alone signals that demand still materially exceeds supply
Yet there’s plenty of fizz remaining.
Note, these figures are estimates, but to determine true value, several factors come into play. This is part and parcel of Chrono Hunter’s no-obligation valuation service including;
- Condition of the watch
- Box and papers which increases overall estimate and authenticity
- Provenance
- Service history
- Current market conditions
Rolex Pepsi — a brief timeline of why the Rolex ‘Pepsi’ is so desirable?
Standing out as one of the most iconic and enduring designs in modern watchmaking, it is defined by its unmistakable red-and-blue bezel.
Debuted in 1955, the origin of the Rolex ‘Pepsi’ dates back to the Rolex GMT-Master, developed during the rise of commercial aviation, the golden age of travel.
Designed in collaboration with Pan American Airways, the watch allowed pilots to track multiple time zones simultaneously — an essential function in an era when long-haul travel was becoming increasingly common.
The two-tone bezel was not merely aesthetic; it served a clear purpose, distinguishing day from night hours at a glance. Over time, this practical innovation became a defining visual signature.
In its modern form, the GMT-Master II builds on that legacy with refined engineering. It features an independently adjustable hour hand and rotating 24-hour bezel, enabling the wearer to track multiple time zones with ease.
By 2018, Calibre 3285 was introduced, featuring a 70 hour power reserve.
What elevates it to next-level status, far beyond technical merits, is its cultural and aesthetic impact. The red-and-blue bezel is instantly recognisable, setting it apart, while the balance between tradition and modernity is central to its principal appeal.
Scarcity also plays a significant role in the watch’s desirability. Rolex carefully controls production, and the manufacturing process for the ceramic bezel — particularly achieving a consistent red hue — remains complex, with almost a 50% failure rate.
As a result, availability is limited, and demand consistently exceeds supply. This imbalance has helped sustain strong secondary market values and reinforced the watch’s status as a highly elusive timepiece.
Ultimately, the ‘Pepsi’ is defined by purpose, shaped by history, and sustained by constant demand. In a constantly evolving luxury market, it remains a constant — an enduring symbol of the brand’s ability to create designs that resonate across generations.
And it has already proven resilience after a downturn, which is a strong signal for long-term confidence and collectability. Many on Rolex waitlists have been informed to look at alternative options.
Nevertheless, this ship has not quite sailed…not yet, anyway.
What’s Chrono Hunter’s view?
Despite Rolex making many authorised dealers aware that deliveries will no longer be taken of the steel GMT Master II, with its legendary red-and-blue bezel, we predict prices will not be hitting crazy figures, touted by ADs in the US and other territories, topping the $50,000 mark.
Based on our timekeeping moles, and insider knowledge via our exclusive network of retailers, prices for the Rolex ‘Pepsi’ are currently hovering around £20,000 to buy.
It may surge north of £25,000, but we are clutching at horological straws for now. As are those retailers, looking to buy a Rolex from customers for upwards of £40,000. The tea leaves have been well and truly stirred. But, until Watches and Wonders 2026, it’s anyone’s guess.
Last minute thoughts
It’s not the first, nor will it be the last, time there’s speculation around the Rolex ‘Pepsi.’
Ultimately, in our experienced view, consumers need to be wary, because at the moment the hype train is in full swing. And it isn’t stopping.
Prices may have surged by more than 10% in the first quarter of this year on the secondary market, amid scarcity and as a reaction to discontinuation rumours. Nonetheless, you should be hesitant to buy at these prices, as the hype may fade and the watches might decrease in value.
Chrono Hunter‘s advice? Better strap yourself in and wait until the peak of hype and speculation has ended, as it’s more likely you can hold off for a better price on the secondary market.
Whether going for the new bezeled ‘Coke,’ the revamped 1982 black and red combo from the original model, or complete discontinuation, hold tight and leave the Pepsi on ice.
