Singapore · October 2026
When Rolex quietly pulled the GMT-Master II 126710BLRO from its website on 14 April 2026 — the opening morning of Watches & Wonders — no press release followed, no farewell campaign ran. The most recognisable two-tone bezel in modern horology simply vanished from production. Eight years after its triumphant return on a Jubilee bracelet at Baselworld 2018, the steel “Pepsi” is gone. What remains is a watch that defined a generation of collector fervour, a grey market, and arguably an entire aesthetic era for Rolex sports watches.
TL;DR — 126710BLRO Pepsi: A Discontinued Icon Worth Chasing
The Rolex GMT-Master II 126710BLRO is a 40mm Oystersteel GMT powered by the COSC-certified Calibre 3285 with a 70-hour power reserve. Its red-blue Cerachrom bezel and Jubilee bracelet made it the most desirable steel sport watch of its era. Discontinued in April 2026, original retail was approximately $12,450 USD; pre-owned examples now trade at $24,000–$32,000 on the grey market. Despite the price premium, demand remains robust and supply is tightening fast. If you can find one at a fair price, it is likely to hold value — but buy it because you love it, not purely as an investment. Rating: 9.4 / 10.
Contents
- First Impressions
- Dial and Bezel
- Case and Bracelet
- Movement: Calibre 3285
- Full Specifications
- Competitors
- Wearing the Pepsi in 2026
- Where to Buy
- Frequently Asked Questions
- Final Verdict
First Impressions
There are few watches that announce themselves the way the Rolex GMT-Master II 126710BLRO does. The red-and-blue ceramic bezel is immediately recognisable — not just to watch enthusiasts but to the general public, in the way that a handful of pieces per decade achieve true cultural crossover. On the wrist it reads as polished and purposeful at once, the Jubilee bracelet adding a dressier cadence than the Oyster bracelet found on the Batman (126710BLNR) or the Sprite (126720VTNR).
That combination — sports watch functionality, Jubilee elegance, unmistakable colourway — is precisely what generated the multi-year waitlists that characterised the Pepsi’s production run. Demand never met supply at retail, and the watch spent most of its eight years trading at a significant grey-market premium. The April 2026 discontinuation has simply formalised what many collectors suspected: the era of the steel Pepsi as a current Rolex is over.
Dial and Bezel
The bezel is the Pepsi’s signature and its most technically demanding component. Rolex’s Cerachrom insert is machined from a single ceramic ring and fired at temperatures exceeding 1,000 degrees Celsius. Achieving a clean, stable red was the engineering challenge that prevented a ceramic steel Pepsi from appearing until 2018 — for a decade, Rolex used a two-part Cerachrom construction on the white-gold Pepsi (116719BLRO), but the difficulty of maintaining precise colour in a single-piece red-blue ring delayed its arrival in steel. The result, when it came, was a bezel that is virtually scratchproof, immune to UV fading, and resistant to corrosion — essentially permanent.
The dial is black with applied gold-tone hour markers, each filled with Chromalight luminescent material. A large applied GMT hand — red-tipped to track the second time zone against the 24-hour bezel — adds visual complexity without clutter. Overall the dial is unhurried in its confidence: no text beyond the Rolex crown, the “GMT-Master II” designation, and the Superlative Chronometer certification. The lacquer finish varies subtly between production years; later examples from 2023–2025 tend to show a slightly deeper black that photographs exceptionally well.
Case and Bracelet
The 40mm case is machined from Oystersteel, Rolex’s proprietary 904L stainless steel alloy chosen for its superior corrosion resistance and ability to hold a high polish. The case construction follows the Rolex philosophy of monobloc-style Oyster cases: the caseback screws down directly, and the crown screws into the Triplock triple-waterproofing system to achieve 100m / 330ft water resistance. A screw-down caseback prevents access to the movement without specialist tools, which both protects the calibre and frustrates the amateur curious.
The Jubilee bracelet — five-link, with alternating brushed and polished centre links — was a deliberately aspirational choice for the 2018 re-introduction of the steel Pepsi. Rolex had not offered the colourway in Oystersteel for over a decade, and pairing it with the dressier Jubilee (rather than the sportier Oyster bracelet used on the Batman) signalled the Pepsi’s dual identity: tool watch heritage, luxury watch execution. The Oysterclasp includes the Easylink comfort extension, allowing a 5mm adjustment without tools — useful across seasons when the wrist expands and contracts with temperature.
Movement: Calibre 3285
The Calibre 3285 is one of Rolex’s most refined in-house movements and one of the key technical differentiators separating the 126710BLRO from its predecessors and rivals. Introduced alongside the 2018 revisions to the GMT-Master II line, it replaced the Calibre 3186 with meaningful improvements across three dimensions: power reserve, accuracy, and serviceability.
Power reserve extends to approximately 70 hours — up from around 48 hours in the 3186 — meaning a watch removed on Friday evening will still be running Monday morning. The Chronergy escapement, paired with the Parachrom hairspring, improves efficiency by roughly 15% over a conventional Swiss lever escapement and contributes directly to the extended reserve. The movement is certified as a Superlative Chronometer by Rolex, held to a tighter standard than COSC: tested to within +2/−2 seconds per day after casing. At 28,800 bph the beat rate positions the Calibre 3285 among the more precise automatic calibres available at any price point.
The independently settable local-time hour hand — the defining GMT complication — can be advanced or retarded in one-hour increments without stopping the watch, making jet-lag adjustments fast and intuitive. The red GMT hand continues to read home time against the 24-hour bezel with no user intervention required. For the full technical picture, see our dedicated Rolex Calibre 3235 guide — the movement family that Cal. 3285 belongs to.
Full Specifications
| Reference | 126710BLRO |
| Nickname | Pepsi |
| Production | 2018–2026 (Baselworld 2018 – April 2026) |
| Case Material | Oystersteel (904L stainless steel) |
| Case Diameter | 40 mm |
| Case Thickness | 11.7 mm |
| Lug Width | 20 mm |
| Bezel | Bidirectional rotatable Cerachrom ceramic, blue/red |
| Crystal | Scratch-resistant sapphire, anti-reflective coating |
| Dial | Black, applied hour markers, Chromalight luminescent |
| Bracelet | Jubilee (904L Oystersteel), Oysterclasp with 5mm Easylink |
| Water Resistance | 100 m / 330 ft |
| Movement | Rolex Calibre 3285 (in-house automatic) |
| Power Reserve | ~70 hours |
| Accuracy | Superlative Chronometer (+2/−2 sec/day) |
| Beat Rate | 28,800 bph (4 Hz) |
| Jewels | 31 |
| Last Retail (USD) | approx. $12,450 |
| Grey Market (2026) | $24,000–$32,000 (pre-owned, condition-dependent) |
Competitors
With the 126710BLRO discontinued, no direct equivalent exists at or near its original retail price point. The closest alternatives — in spirit or function — for buyers evaluating a pre-owned Pepsi are below.
| Watch | Case | Movement | Water Resistance | Price (approx.) |
|---|---|---|---|---|
| Rolex GMT-Master II 126710BLRO (discontinued) | 40mm Oystersteel | Cal. 3285, 70hr | 100m | $24,000–$32,000 grey market |
| Tudor Black Bay GMT M79830RB | 41mm steel | MT5652, 70hr | 200m | approx. $3,825 retail |
| Breitling Navitimer GMT 46 AB044121 | 46mm steel | B04, 70hr | 100m | approx. $5,200 retail |
| Omega Seamaster Aqua Terra GMT | 43mm steel | Cal. 8906, 60hr | 150m | approx. $6,700 retail |
The Tudor Black Bay GMT M79830RB is the closest spiritual sibling to the Pepsi — it uses a red-and-blue bezel and is built on a movement that shares engineering DNA with Rolex. At roughly $3,825 retail it is accessible where the Pepsi is not. The Breitling and Omega entries offer more water resistance or a larger case, but neither replicates the 126710BLRO’s combination of 40mm Oystersteel case, Jubilee bracelet, Cerachrom bezel, and Cal. 3285.
Wearing the Pepsi in 2026
At 40mm by 11.7mm, the Pepsi sits comfortably on wrists from 6.5 inches upward. The lug-to-lug is approximately 48mm, which keeps it from overwhelming smaller wrists despite the presence it projects. The Jubilee bracelet drapes rather than sits flat, contouring naturally, and the Easylink extension makes the difference between a comfortable daily watch and one that requires tool adjustment between seasons.
Legibility is exceptional. The Chromalight lume charges quickly and emits a blue-white glow in darkness for well over an hour after light exposure. The polished and brushed surfaces catch light dynamically throughout the day — different parts of the dial and bracelet animate at different angles, which is part of what makes the watch visually engaging in ordinary use rather than only in photographs. The red GMT hand reads clearly against both the black dial and the red sector of the bezel, though the 24-hour scale at the bezel edge requires reasonable eyesight in direct sunlight.
Comfort aside, wearing a discontinued Pepsi in 2026 carries a different psychological weight than it did in 2022. What was then a trophy watch amplified by artificial scarcity is now a collector’s piece — finite in supply, with provenance traceable to a closed production window. That shift changes how the watch feels on the wrist: it has become, by the nature of its discontinuation, something to be kept rather than merely worn.
Where to Buy
The 126710BLRO is no longer available through authorised Rolex retailers. Stock that existed at dealers on 14 April 2026 was withdrawn from sale, and no new examples will be produced. The grey market is the only source. For a pre-owned Pepsi in strong condition with full box and papers, expect to pay between $24,000 and $32,000 USD in late 2026, depending on production year, service history, and seller. Platforms including Chrono24, WatchBox, and Watchfinder carry regular supply; the median time to sale on Chrono24 is reported at approximately 16 days, reflecting strong ongoing demand.
When purchasing on the secondary market, insist on box, papers, and original tags where possible. Rolex’s serialised warranty cards can be cross-checked; service history through an authorised Rolex service centre adds value and peace of mind. Given the discontinuation and anticipated increase in counterfeiting, purchases from established, independently audited dealers are strongly preferable to private listings on general marketplaces. For all current Rolex reviews and guides, visit the Rolex brand hub on The Watchology.
Frequently Asked Questions
Rolex offered no official explanation. The 126710BLRO and its white-gold counterpart (126719BLRO) were removed from rolex.com on 14 April 2026, the opening day of Watches & Wonders Geneva. Industry speculation points to several factors: a broader repositioning of the sports line, potential manufacturing challenges with the single-piece red-blue Cerachrom bezel, and the possibility of a redesigned successor at a future watch fair. As of mid-2026 no replacement has been announced.
In mid-to-late 2026, pre-owned examples in excellent condition with full box and papers typically list between $24,000 and $32,000 USD (roughly £22,000–£30,000). Prices rose sharply following the April 2026 discontinuation. Unworn or near-mint examples with original stickers command the upper end of that range; watch-only listings without documentation sit considerably lower.
As of 2026, Rolex has not announced a direct replacement for the 126710BLRO. The current steel GMT-Master II lineup retains the Batman (126710BLNR, blue-and-black bezel on Jubilee), the Sprite (126720VTNR, green-and-black bezel, left-handed), and the 126710GRNR (grey-and-black bezel). There is no red bezel anywhere in the current steel GMT lineup.
The discontinuation has compressed supply and pushed secondary prices well above original retail. Data shows the median value rose approximately 19% in the twelve months following the discontinuation. The combination of iconic status, closed production, and strong collector demand suggests the 126710BLRO is likely to hold value better than most modern watches. That said, buying any watch purely as an investment carries risk — purchase because you want to wear it, and treat any appreciation as a bonus.
Both are 40mm GMT-Master II references in Oystersteel on Jubilee bracelets powered by Cal. 3285. The key difference is the bezel: the Pepsi (126710BLRO) uses a red-and-blue Cerachrom insert, while the Batman (126710BLNR) uses a blue-and-black insert. The Pepsi colourway traces to the original 1955 ref. 6542 and is the more historically significant of the two. The Batman remains in current production; the Pepsi was discontinued in April 2026.
The 126710BLRO is fitted with Rolex Calibre 3285, an in-house automatic movement with approximately 70 hours of power reserve, a Chronergy escapement, and a Parachrom hairspring. It is certified as a Superlative Chronometer — a Rolex-defined standard requiring accuracy of +2/−2 seconds per day after casing. The movement runs at 28,800 bph and has 31 jewels.
Set your home time zone via the red GMT hand, which points to the 24-hour graduated bezel. Your local time is shown on the main hour and minute hands. You can advance or retard the local hour hand independently — without stopping the watch — using the crown at position 2: click it forward or back in one-hour steps to cross time zones. The minute hand and GMT hand continue running throughout, and home time remains uninterrupted.
Final Verdict
The Rolex GMT-Master II 126710BLRO is, in retrospect, the watch that defined the 2018–2026 period for Rolex collectors. Its discontinuation has done nothing to diminish its credentials — if anything, the April 2026 removal from the catalogue has clarified its place in history. It is a technically outstanding watch: the Calibre 3285 is among the best GMT movements available at any price, the Cerachrom bezel is genuinely superior to the aluminium bezels it replaced, and the Jubilee bracelet elevates the wearing experience compared with the Oyster-bracelet variants. Its 40mm diameter is the sweet spot for GMT watches — large enough to read, elegant enough to dress up.
The grey-market price premium is the only genuine hesitation. At $24,000–$32,000, a pre-owned Pepsi costs roughly twice what it did at original retail and two to three times its closest spiritual sibling, the Tudor Black Bay GMT. Whether that premium is justified depends entirely on how much the Rolex name, the specific colourway, and the closed production window matter to you. For serious collectors, the 126710BLRO is now a piece of recorded Rolex history. For those buying a daily-wear GMT, the Tudor and Omega alternatives deliver comparable functionality at a fraction of the cost.
The Watchology verdict: 9.4 / 10. An outstanding GMT watch elevated to icon status — and now, to collectible.
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